Overview
What is Legacy Endowment Inc?
Legacy Endowment Inc is a nonprofit organization situated in Overland Park, Kansas, with its headquarter at 10150 Antioch Rd. Its primary role is to serve as an endowment fund for its parent organization, Legacy Christian Church. The organization manages various investments in publicly traded securities and real estate collateralized loans, overseen by committees reporting directly to the board of directors. Volunteers, who offer their services without compensation as part of their ministry for Legacy Christian Church, manage these activities. Legacy Endowment Inc's mission is to grow and manage assets for its parent organization, aiming to enhance its ministry's capabilities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
Legacy Endowment Inc has achieved a commendable rating of 94% from Charity Navigator, which reflects its strong performance in accountability and finance. The organization has a perfect score in various categories, indicating excellent governance practices, including a fully independent board and no material diversion of assets. Such metrics suggest a high level of transparency and responsible management of funds.
The organization also shows a commitment to best practices with the implementation of policies such as conflict of interest, whistleblower protection, and proper document retention. These policies contribute to building trust among donors and stakeholders, enhancing its reputation within the nonprofit sector. Additionally, the charity allocates 100% of its expenses to programs, which indicates a strong focus on fulfilling its mission.
While the overall assessment is positive, it's essential to note that the score is based solely on financial accountability. Future evaluations could benefit from a broader range of metrics, including program effectiveness and community impact, to provide a more comprehensive view of the organization's performance. Overall, Legacy Endowment Inc demonstrates a reliable and trustworthy nonprofit commitment to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Legacy Endowment Inc legitimate?
Legacy Endowment Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Legacy Endowment 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Legacy Endowment Inc?
Legacy Endowment Inc's mission is centered around managing and growing assets for its affiliated organization, Legacy Christian Church. This is done with the intention of enhancing the church's ministry. The organization's primary activity is functioning as an endowment fund, investing for both growth and income. This is achieved through committees, who report directly to the board of directors, and volunteers who contribute their services as part of their ministry for Legacy Christian Church. The investments made by the organization include publicly traded securities and a real estate collateralized loan.
Who is the CEO of Legacy Endowment Inc?
Troy Gariss is the Director And President of Legacy Endowment Inc.
What is the revenue of Legacy Endowment Inc?
Legacy Endowment Inc's revenue in 2022 was $65,749.
Who are the executives of Legacy Endowment Inc and what are their salaries?
There 5 volunteers at Legacy Endowment Inc.
Here are 4 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Legacy Endowment Inc?
Legacy Endowment Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Legacy Endowment Inc
Legacy Endowment Inc, an organization tied to Legacy Christian Church, is dedicated to managing and growing its parent organization's assets. This mission serves to enhance the ministry of Legacy Christian Church. The primary activity of Legacy Endowment Inc is to function as an endowment fund, focusing on investments for both growth and income. This is achieved through various investments in publicly traded securities and a real estate-collateralized loan. The management of these investments is overseen by committees that report directly to the organization's board of directors. The volunteers who manage these activities do so as part of their ministry for Legacy Christian Church, and they do not receive any remuneration for their services.
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Impact
October, 2024
Legacy Endowment Inc plays a critical role in supporting and enhancing the ministry of Legacy Christian Church through the strategic management and growth of its financial assets. By functioning as an endowment fund, the organization focuses on generating income and growth through investments in publicly traded securities and real estate.
The careful stewardship of these assets allows Legacy Christian Church to expand its offerings and reach within the community, ensuring that financial resources are available to support its various programs and initiatives. The organization is driven by dedicated volunteers who commit their time and expertise to manage these investments, reflecting their commitment to the church's mission.
Through its activities, Legacy Endowment Inc enables Legacy Christian Church to have a sustainable financial foundation, reinforcing its ability to serve its congregants and the broader community effectively. The focus on enhancing ministry through asset management signifies a long-term vision for growth, providing both immediate support and future opportunities for impactful outreach and service.
This information is meant to be a general summary of Legacy Endowment 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: $65,749
- Gross Receipts: $65,749
Assets and Liabilities:
- Total Assets: $2,053,903
- Total Liabilities: $0
- Net Assets: $2,053,903
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Organization Details
Founding Year
2006
Phone
(913) 381-8055Principal Officer
Troy Gariss
Main Address
10150 Antioch Rd, Overland Park, KS, 662124285
NTEE Category
Code: X11 - Religion related
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