Overview
What is Legacy Impact Capital?
Legacy Impact Capital is a nonprofit organization situated in Raleigh, North Carolina, with the mission of revitalizing communities. They achieve this by promoting education choices, facilitating workforce housing, and developing attainable senior housing in areas of need. Their activities are geared towards enhancing community development, working towards providing a diverse range of educational options, affordable housing for the workforce, and comfortable living conditions for the elderly.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 63%, earning it a Two-Star out of Four Star rating
Legacy Impact Capital has received a Two-Star rating, indicating a below-average performance in accountability and finance standards. While the organization boasts a commendable program expense ratio of 94.11%, reflecting a strong commitment to its programmatic activities, several areas of concern significantly impact its overall score. The lack of essential policies, such as a conflict of interest policy and a whistleblower policy, highlight governance weaknesses.
The board's structure shows a majority of independent members, which is a positive aspect, but the total number of independent board members is notably low, raising questions about its effectiveness. Additionally, the absence of a website listed on the tax form, along with missing documentation regarding tax forms and retention policies, detracts from transparency and accountability.
Overall, while Legacy Impact Capital demonstrates a strong focus on its programming, the gaps in governance and transparency policies suggest a need for improvement to strengthen stakeholder trust and organizational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Legacy Impact Capital legitimate?
Legacy Impact Capital is a legitimate nonprofit organization registered as a 501(c)(3) entity. Legacy Impact Capital 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 Impact Capital?
Legacy Impact Capital is committed to community redevelopment, specifically focusing on expanding educational choices, workforce housing, and affordable senior housing in areas of need. Their mission is to contribute to the betterment of these communities by promoting access to various educational options, facilitating the development of workforce housing, and providing attainable senior living accommodations. This initiative aims to improve the overall quality of life in these communities, ensuring that they are inclusive and supportive for all residents.
Who is the CEO of Legacy Impact Capital?
Raymond H Sowell is the Board Chair of Legacy Impact Capital.
What is the revenue of Legacy Impact Capital?
Legacy Impact Capital's revenue in 2022 was $1,460,133.
Who are the executives of Legacy Impact Capital and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Legacy Impact Capital?
Legacy Impact Capital's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Legacy Impact Capital
Legacy Impact Capital, a nonprofit organization, is dedicated to community redevelopment. Their mission revolves around expanding options for education, providing workforce housing, and creating attainable senior housing in areas of need. By focusing on these key areas, Legacy Impact Capital aims to bring about positive changes in underprivileged communities, ultimately uplifting the lives of those residing there. Their efforts in education choice aim to provide diverse and quality learning opportunities, while workforce housing helps to create stable living environments for working individuals. Attainable senior housing, on the other hand, ensures that elderly community members can age with dignity and security. Through these initiatives, Legacy Impact Capital contributes to the overall well-being and revitalization of the communities it serves.
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Impact
July, 2024
Legacy Impact Capital's impact is focused on community redevelopment through the expansion of education choice, workforce housing, and attainable senior housing in communities of need. Their mission is to create sustainable and meaningful change by investing in projects that address the critical needs of these communities, particularly in the areas of housing and education. Legacy Impact Capital is dedicated to making a positive difference in the lives of individuals and families in Raleigh, NC, through their impactful initiatives.
This information is meant to be a general summary of Legacy Impact Capital. 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: $1,460,133
- Gross Receipts: $1,460,133
Assets and Liabilities:
- Total Assets: $1,226,024
- Total Liabilities: $15
- Net Assets: $1,226,009
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEE
Revenue
$1,460,133
Organization Details
Founding Year
2019
Phone
(919) 841-6564Principal Officer
Raymond H Sowell
Main Address
4810 CRESTMORE RD, RALEIGH, NC, 27612
NTEE Category
Code: L21 - Housing
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