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Nonprofiteer
← LEGACY FOUNDATION INC

Form 990 for tax year 2022

Filed by LEGACY FOUNDATION INC.

Totals

Total revenue
$980,728
Total expenses
$5,598,888
Contributions and grants received
$2,174,949
Grants paid
$3,495,080
Program service revenue
$737,322
Investment income
-$1,943,061
Other revenue
$11,518
Total assets, end of year
$75,398,108
Total liabilities, end of year
$9,975,000
Net assets or fund balances, end of year
$65,423,108
Program services expenses (Part IX)
$4,039,402
Management and general expenses
$1,385,980
Fundraising expenses
$173,506
Program service expenses (Part III)
$4,039,402

Program services were 72.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $2,174,949

  • 2a · Program service revenue: PROGRAM SERVICE REVENUE

    total $737,322 · related or exempt $737,322

  • 3 · Investment income

    total $1,528,207 · excluded $1,528,207

  • 7a · Gross sales of assets other than inventory

    securities $38,692,495

  • 7b · Less cost or other basis and sales expenses

    securities $42,163,763

  • 7c · Gain or loss

    securities -$3,471,268

  • 7d · Net gain or loss

    total -$3,471,268 · related or exempt -$3,471,268

  • 8a · Fundraising events: gross income

    $9,935

  • 8c · Net income from fundraising events

    total $9,935

  • 11a · Other revenue: OTHER INCOME

    total $1,583 · related or exempt $1,583

  • 11e · Other revenue, total

    $1,583

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,012,192 · program services $3,012,192

  • 2 · Grants to domestic individuals

    total $482,888 · program services $482,888

  • 5 · Compensation of officers, directors and key employees

    total $101,802 · program services $35,007 · management and general $51,306 · fundraising $15,489

  • 6 · Compensation of disqualified persons

    total $93,729 · program services $32,231 · management and general $47,237 · fundraising $14,261

  • 7 · Other salaries and wages

    total $367,113 · program services $126,240 · management and general $185,018 · fundraising $55,855

  • 8 · Pension plan contributions

    total $52,809 · program services $16,371 · management and general $27,989 · fundraising $8,449

  • 10 · Payroll taxes

    total $44,975 · program services $13,942 · management and general $23,837 · fundraising $7,196

  • 11a · Fees: management

    total $737,322 · management and general $737,322

  • 11c · Fees: accounting

    total $17,839 · management and general $17,839

  • 11f · Fees: investment management

    total $164,781 · management and general $164,781

  • 11g · Fees: other

    total $27,458 · program services $27,458

  • 12 · Advertising and promotion

    total $25,548 · fundraising $25,548

  • 13 · Office expenses

    total $8,539 · program services $2,654 · management and general $4,521 · fundraising $1,364

  • 14 · Information technology

    total $56,933 · program services $18,111 · management and general $29,820 · fundraising $9,002

  • 16 · Occupancy

    total $87,591 · program services $27,154 · management and general $46,423 · fundraising $14,014

  • 19 · Conferences, conventions and meetings

    total $14,510 · program services $4,713 · management and general $7,525 · fundraising $2,272

  • 22 · Depreciation, depletion and amortization

    total $14,744 · program services $4,571 · management and general $7,814 · fundraising $2,359

  • 23 · Insurance

    total $6,443 · program services $1,997 · management and general $3,415 · fundraising $1,031

  • 24a · Other expenses: PROGRAM EXPENSES

    total $215,658 · program services $215,658

  • 24b · Other expenses: SPECIAL EVENTS

    total $33,268 · program services $10,313 · management and general $17,632 · fundraising $5,323

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $13,415 · program services $4,159 · management and general $7,109 · fundraising $2,147

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $12,064 · program services $3,743 · management and general $6,392 · fundraising $1,929

  • 24e · All other expenses

    total $7,267 · fundraising $7,267

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $619,376 · end of year $1,570,711

  • 2 · Savings and temporary cash investments

    beginning of year $4,578,418 · end of year $3,347,356

  • 3 · Pledges and grants receivable

    beginning of year $7,686,727 · end of year $5,778,939

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,281 · end of year $35,855

  • 10a · Land, buildings and equipment: cost or other basis

    $133,930

  • 10b · Land, buildings and equipment: accumulated depreciation

    $101,477

  • 10c · Land, buildings and equipment, net

    beginning of year $41,422 · end of year $32,453

  • 11 · Investments: publicly traded securities

    beginning of year $77,012,751 · end of year $64,502,878

  • 15 · Other assets

    beginning of year $197,699 · end of year $129,916

  • 17 · Accounts payable and accrued expenses

    beginning of year $128,590 · end of year $77,892

  • 18 · Grants payable

    beginning of year $368,392 · end of year $331,304

  • 21 · Escrow or custodial account liability

    beginning of year $11,052,179 · end of year $9,093,586

  • 25 · Other liabilities

    beginning of year $640,336 · end of year $472,218

  • 27 · Net assets without donor restrictions

    beginning of year $1,710,149 · end of year $1,682,314

  • 28 · Net assets with donor restrictions

    beginning of year $76,246,028 · end of year $63,740,794

Mission and programs · 2022

Mission

THE LEGACY FOUNDATION, INC. WILL SEEK AND ACCEPT ENDOWMENTS FROM PUBLIC AND PRIVATE SOURCES AND DISTRIBUTE GRANTS FOR COMMUNITY ENHANCING PROJECTS AND OTHER CHARITABLE PURPOSES.

  • LEGACY FOUNDATION PROVIDED TOTAL GRANTS AND SCHOLARSHIPS IN 2022 OF 3,495,080. OPERATIONAL SUPPORT WAS PROVIDED FOR ONGOING OPERATIONS. THIS INCLUDED AMOUNTS FOR EQUIPMENT, SUPPLIES, PROGRAMMING AND SERVICES TO SEVERAL CHARITABLE ORGANIZATIONS. COLLEGE SCHOLARSHIPS WERE AWARDED FOR INDIVIDUALS. LEGACY FOUNDATION AWARDED SCHOLARSHIPS TO INDIVIDUALS TO ASSIST WITH POST-SECONDARY EDUCATION COSTS.

    Expenses $4,039,402 · Grants $3,495,080 · Revenue $737,322

As filed on the 2022 return.

Listed in Part VII

  • Carey Yukich

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • John Freyek

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Matt Doyle

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Karima Hasan Bey

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • James Dunne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Sean Egan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Alfredo Estrada

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Lisa Goodnight

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Gregory Gordon

    IMMEDIATE PA

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Stephen Kavois

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Gloria Morris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Pam Ott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Chris Salatas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Verlie Suggs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Ellen Szarleta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Phil Taillon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Chelsea Whittington

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Richard Young

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Sherri Ziller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • Carolyn Saxton

    FORMER PRESI

    Total calculated
    $106,168
    From this org
    $103,076
    From related orgs
    $0
    Other
    $3,092
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $103,076
    Bonus
    not reported
    Other
    not reported
    Deferred
    $3,092
    Nontaxable benefits
    not reported
    Filer's total
    $106,168

  • Kelly Anoe

    PRESIDENT

    Total calculated
    $115,313
    From this org
    $111,954
    From related orgs
    $0
    Other
    $3,359
    Hours/week
    40 + 0.5 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202303129349302905

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