Overview
What is Legacy Foundation Inc?
Legacy Foundation Inc, situated in Merrillville, Indiana, is a nonprofit organization with a mission to distribute grants for community-enhancing projects and charitable purposes. In 2022, they granted a substantial sum of $3,495,080, supporting various charitable organizations with operational costs, equipment, supplies, programming, and services. Furthermore, the foundation awards college scholarships to individuals to assist with post-secondary education expenses. With a small team of 12 employees, Legacy Foundation Inc continues to seek and accept endowments from both public and private sources to expand its philanthropic reach.
Official website here: www.legacyfdn.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating.
Legacy Foundation Inc demonstrates a strong performance in accountability and finance, as reflected in its impressive 96% score. This rating is primarily based on their governance practices, including an entirely independent board of directors, robust oversight measures, and comprehensive policies on conflict of interest and whistleblower protection. These factors contribute to a transparent and responsible organizational structure, fostering trust among donors and stakeholders.
The foundation has effectively maintained a low liabilities-to-assets ratio of 13.22%, indicating a solid financial footing. Additionally, with a program expense ratio of 72.73%, a significant portion of their budget is directed towards their programs, suggesting a strong commitment to their mission and effective use of resources. This focus on programmatic spending is an encouraging sign for potential supporters looking to maximize the impact of their contributions.
While the data highlights many strengths, it's important for potential donors to consider the specific programs and outcomes of the foundation's work, as financial metrics alone do not capture the full impact of its initiatives. Overall, Legacy Foundation Inc stands out as a well-managed nonprofit, but like any organization, continuous evaluation of both financial health and programmatic effectiveness remains essential.
This AI summary has been generated from information found on Charity Navigator.
Is Legacy Foundation Inc legitimate?
Legacy Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. 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: $130,819
Professional Fundraising Fees: $0
Other Salaries and Wages: $375,682
For more financial information, click here
Official website here: www.legacyfdn.org
What is the mission statement of Legacy Foundation Inc?
The Legacy Foundation Inc, as per its mission statement, aims to acquire endowments from both public and private sources. The primary objective is to distribute these funds for community-enhancing projects and other charitable purposes. By doing so, the foundation seeks to contribute positively to various communities, providing support for a variety of causes. In 2022, the foundation disbursed a total of 3,495,080 in grants and scholarships. These funds were utilized for operational support, including equipment, supplies, programming, and services to various charitable organizations. Additionally, the foundation awarded college scholarships to individuals to help cover their post-secondary education costs.
Official website here: www.legacyfdn.org
What is the revenue of Legacy Foundation Inc?
Legacy Foundation Inc's revenue in 2023 was $4,887,322.
Official website here: www.legacyfdn.org
Who are the executives of Legacy Foundation Inc and what are their salaries?
The average compensation at Legacy Foundation Inc during 2023 was $46,046. There are 11 employees and 50 volunteers at Legacy Foundation Inc.
Here are 19 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $130,819
- Related: $0
- Other: $5,112
Official website here: www.legacyfdn.org
Where can I find the form 990 for Legacy Foundation Inc?
Legacy Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.legacyfdn.org
Learn more at the official website: www.legacyfdn.org
Mission Statement of Legacy Foundation Inc
The Legacy Foundation, Inc., as per its mission statement, seeks to acquire endowments from both public and private sources. With these resources, the foundation distributes grants to support various community-enhancing projects and charitable causes. The organization's primary objective is to contribute to the betterment of the community at large, focusing on initiatives that align with its charitable purpose.
In addition to its grant-distribution role, the Legacy Foundation, Inc., provides operational support to ongoing charitable organizations. This includes funding for equipment, supplies, programming, and services, ensuring that these organizations can continue their vital work in the community. Furthermore, the foundation awards college scholarships to individuals, helping to alleviate the financial burden of post-secondary education. By offering these scholarships, the Legacy Foundation, Inc., plays a significant role in supporting the education and future prospects of numerous individuals.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Legacy Foundation Inc plays a significant role in fostering community development and educational advancement in Merrillville, Indiana. In 2022, the foundation distributed a remarkable total of $3,495,080 in grants and scholarships, directly supporting various charitable initiatives that enhance the local community.
The foundation focuses on accepting endowments from both public and private sources, ensuring a steady flow of resources that can be allocated to various impactful projects. By providing operational support to several charitable organizations, Legacy Foundation Inc contributes not only to immediate community needs but also lays the groundwork for long-term sustainability.
In addition to funding community projects, the foundation emphasizes the importance of education by awarding scholarships to individuals pursuing post-secondary education. These scholarships help alleviate the financial burden of higher education, empowering recipients to achieve their academic and career goals. Through its comprehensive efforts, Legacy Foundation Inc significantly enriches the lives of individuals and the broader community, promoting a culture of philanthropy and collective advancement.
This information is meant to be a general summary of 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 2023.
- Investment Income: $2,076,932
- Program Service Revenue: $859,785
- Gross Receipts: $32,099,261
Assets and Liabilities:
- Total Assets: $75,398,108
- Total Liabilities: $9,975,000
- Net Assets: $65,423,108
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMINISTRATIVE FEES
Revenue
$797,540
PROGRAM INCOME
Revenue
$47,682
FEE FOR SERVICE REVENUE
Revenue
$14,563
Organization Details
Founding Year
1992
Principal Officer
Kelly Anoe
Website
www.legacyfdn.orgNTEE Category
Code: T310 - Philanthropy
If you are a representative of Legacy Foundation Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.