Overview
What is New Legacy Foundation?
The New Legacy Foundation, based in Baton Rouge, Louisiana, is a nonprofit organization dedicated to assisting vulnerable residents, defined as individuals and families who experience recurring or ongoing health, safety, and quality of life issues due to their living conditions. This foundation provides funds to acquire properties from individuals, with the primary aim of fairly compensating them for their properties and offering support services to facilitate smooth relocations. These funds cover moving costs, lot clearing, closing costs, and other relevant expenses, as decided by the Board of Directors. The foundation's mission extends to offering various support services, such as assistance with moving expenses, to ensure a seamless transition for the affected individuals.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: Zero-Star out of Four Stars (40%)
The New Legacy Foundation has received a Zero-Star rating from Charity Navigator due to its low overall score of 40%. This rating indicates significant concerns regarding the organization's accountability and financial management. The score is derived entirely from the Accountability & Finance pillar, which reveals deficiencies that could impact donor confidence.
While the foundation boasts a fully independent board and no material diversion of assets, it falls short in critical areas. Notably, it lacks key policies such as a whistleblower and document retention policy. Additionally, the foundation's program expense ratio is quite low at 10.01%, suggesting that a minimal portion of its resources is being allocated towards its intended programs, raising questions about its operational effectiveness.
Overall, while the foundation has some strong governance aspects, the absence of essential policies and low spending on programs are significant limitations that potential donors should consider. This situation highlights the importance of transparency and effective resource allocation in nonprofit organizations.
This AI summary has been generated from information found on Charity Navigator.
Is New Legacy Foundation legitimate?
New Legacy Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Legacy Foundation 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: $65,000
Professional Fundraising Fees: $2,625
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of New Legacy Foundation?
The New Legacy Foundation is dedicated to aiding "vulnerable residents," who are individuals and families struggling with recurring or ongoing impacts on their health, safety, and quality of life due to where they reside. The organization's mission is to provide financial assistance in exchange for the voluntary acquisition of properties, with the funds specifically designed to fairly compensate individuals and cover moving costs, lot clearing, closing costs, and other relevant expenses, as determined by the Board of Directors. The aim is to support these individuals in facilitating their relocations and improving their overall living conditions.
Who is the CEO of New Legacy Foundation?
Mike Hayes is the Executive Director of New Legacy Foundation.
What is the revenue of New Legacy Foundation?
New Legacy Foundation's revenue in 2022 was $105,000.
Who are the executives of New Legacy Foundation and what are their salaries?
The average compensation at New Legacy Foundation during 2022 was $65,000. There is 1 employee at New Legacy Foundation.
Here are 6 key members and their salaries:
- Compensation: $65,000
- 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
Where can I find the form 990 for New Legacy Foundation?
New Legacy Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of New Legacy Foundation
The New Legacy Foundation, a nonprofit organization, is dedicated to assisting those who are deemed "vulnerable residents." These individuals and families face recurring or ongoing impacts to their health, safety, and quality of life due to their living conditions.
In pursuit of its mission, the New Legacy Foundation offers funds to individuals in exchange for the voluntary acquisition of their properties. These funds are designed to fairly compensate the property owners and provide support services to facilitate their relocations. The funds cover various expenses such as moving costs, lot clearing, closing costs, and other relevant expenses, as decided by the Board of Directors.
By offering these resources, the New Legacy Foundation aims to improve the living conditions and overall well-being of the vulnerable residents it serves, providing them with a chance to start anew and live with greater security and stability.
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Impact
June, 2024
New Legacy Foundation's impact is significant in providing support and assistance to vulnerable residents facing ongoing impacts to their health, safety, and quality of life due to their living conditions. This organization offers funds to individuals in exchange for the voluntary acquisition of their property, ensuring fair compensation and providing support services to facilitate relocations. Through their mission, they address critical needs and strive to improve the well-being of those in need in Baton Rouge, Louisiana.
This information is meant to be a general summary of New Legacy Foundation. 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.
- Program Service Revenue: $105,000
- Gross Receipts: $105,000
Assets and Liabilities:
- Total Assets: $518,812
- Total Liabilities: $2,134
- Net Assets: $516,678
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Organization Details
Founding Year
2018
Phone
(225) 284-9878Principal Officer
Mike Hayes
Main Address
PO Box 65222, Baton Rouge, LA, 70896
NTEE Category
Code: C99 - Environment
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