Overview
What is Lutheran Legacy Foundation Inc?
Lutheran Legacy Foundation Inc, based in Paris, Illinois, is a nonprofit organization dedicated to charitable, religious, educational, and scientific pursuits. Their primary function involves distributing funds to qualified charitable organizations, which fall under Section 501(C)(3) of the Internal Revenue Code, or any future federal tax code equivalent. The foundation's purpose is to support these organizations, subject to any restrictions stated in the donation instrument. With a team of four individuals, Lutheran Legacy Foundation Inc aims to contribute to the betterment of various sectors through its charitable distributions.
Official website here: www.lutheranlegacyfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Stars)
Lutheran Legacy Foundation Inc has achieved a solid rating of 84% on Charity Navigator, indicating a reliable and accountable nonprofit organization. Its strengths include a perfect score in Leadership & Adaptability, showcasing strong governance and strategic planning. The organization maintains a high level of accountability and transparency, with an impressive percentage of independent board members and comprehensive feedback collection and usage practices.
Financially, the foundation demonstrates a healthy program expense ratio of 82.37%, which reflects a commitment to allocating funds towards its programs. However, the organization has a liabilities-to-assets ratio of 53.28%, suggesting that it is managing its debts in relation to its assets. The Equity Strategies Score of 75 indicates some focus on equitable practices, although there may be room for improvement in this area.
Overall, the Lutheran Legacy Foundation Inc is characterized by strong leadership and effective financial management, although stakeholders might consider monitoring its financial ratios and equity strategies for potential enhancements.
This AI summary has been generated from information found on Charity Navigator.
Is Lutheran Legacy Foundation Inc legitimate?
Lutheran Legacy Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lutheran Legacy Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $148,733
Professional Fundraising Fees: $0
Other Salaries and Wages: $62,766
For more financial information, click here
Official website here: www.lutheranlegacyfoundation.org
What is the mission statement of Lutheran Legacy Foundation Inc?
Lutheran Legacy Foundation Inc, as per its mission statement, is established for charitable, religious, educational, and scientific purposes. The organization is set up to distribute funds to organizations that qualify as exempt under Section 501(C)(3) of the Internal Revenue Code or its corresponding section in any future federal tax code. The primary objective of Lutheran Legacy Foundation Inc is to distribute these funds to eligible charitable organizations, adhering to any limitations or restrictions specified in the instrument under which the donation was contributed. The foundation's purpose is aligned with its charitable status, aiming to contribute positively to various sectors in need.
Official website here: www.lutheranlegacyfoundation.org
Who is the CEO of Lutheran Legacy Foundation Inc?
Thomas E Patchett is the Executive Di of Lutheran Legacy Foundation Inc.
Official website here: www.lutheranlegacyfoundation.org
What is the revenue of Lutheran Legacy Foundation Inc?
Lutheran Legacy Foundation Inc's revenue in 2022 was $3,118,884.
Official website here: www.lutheranlegacyfoundation.org
Who are the executives of Lutheran Legacy Foundation Inc and what are their salaries?
The average compensation at Lutheran Legacy Foundation Inc during 2022 was $52,875. There are 4 employees at Lutheran Legacy Foundation Inc.
Here are 6 key members and their salaries:
- Compensation: $70,800
- Related: $0
- Other: $10,284
- Compensation: $14,968
- Related: $0
- Other: $0
- Compensation: $14,182
- Related: $0
- Other: $0
- Compensation: $14,000
- Related: $0
- Other: $0
- Compensation: $13,380
- Related: $0
- Other: $0
- Compensation: $13,000
- Related: $0
- Other: $0
Official website here: www.lutheranlegacyfoundation.org
Where can I find the form 990 for Lutheran Legacy Foundation Inc?
Lutheran Legacy Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lutheranlegacyfoundation.org
Learn more at the official website: www.lutheranlegacyfoundation.org
Mission Statement of Lutheran Legacy Foundation Inc
Lutheran Legacy Foundation Inc, an organization dedicated to charitable, religious, educational, and scientific pursuits, is established with the primary goal of distributing funds to qualified charitable organizations. Aligned with sections 501(C)(3) of the Internal Revenue Code, or the corresponding section of any future federal tax code, this foundation serves as a conduit for philanthropic donations. Its purpose is to distribute these funds to eligible charitable organizations, adhering to any limitations or restrictions specified in the donation instrument. The Lutheran Legacy Foundation Inc's mission is to support various charitable causes, contributing to the betterment of society in numerous ways.
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Impact
October, 2024
Lutheran Legacy Foundation Inc creates a significant impact by channeling resources into charitable, religious, educational, and scientific endeavors. It specializes in distributing funds to organizations eligible under the 501(c)(3) guidelines, ensuring that the support goes to those that can effectively uphold and further its mission.
By focusing on charitable causes, the foundation bolsters the efforts of various organizations in the community, enhancing their ability to serve those in need. This targeted funding helps address critical issues, foster education, and promote religious initiatives, ultimately leading to a stronger, more resilient community.
In essence, Lutheran Legacy Foundation Inc acts as a catalyst for positive change, leveraging financial support to empower organizations committed to making a difference. Its dedication to philanthropic efforts ensures that vital services continue to thrive, benefiting individuals and families in various ways throughout the region.
This information is meant to be a general summary of Lutheran Legacy Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,834,326
- Program Service Revenue: $370,619
- Gross Receipts: $7,752,276
Assets and Liabilities:
- Total Assets: $56,372,398
- Total Liabilities: $28,879,412
- Net Assets: $27,492,986
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ENDOWMENT MANAGEMENT FEES
Revenue
$370,619
Organization Details
Founding Year
2005
Phone
(217) 463-8202Principal Officer
Thomas E Patchett
Main Address
PO BOX 31, PARIS, IL, 61944
NTEE Category
Code: T31 - Philanthropy
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