Overview
What is Legacy Concepts?
Legacy Concepts is a nonprofit organization situated in Garland, Texas, specifically at 1018 Creekwood Drive. Their primary objective is to collect and distribute charitable contributions, directing these funds towards approved ministry services and the promotion of Christian beliefs. The organization's mission is centered around supporting and furthering religious and charitable initiatives, thereby contributing to various ministries.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Legacy Concepts has received a two-star rating from Charity Navigator, indicating that the organization has room for improvement despite achieving a high score of 100% in Accountability & Finance. The lack of independent board members and numerous missing governance policies suggest potential vulnerabilities in organizational oversight and transparency. While the organization has shown strong financial health with no liabilities and a 100% program expense ratio, these governance issues could raise concerns among donors regarding the management and direction of the nonprofit.
The organization has demonstrated effective management of its program expenses and fundraising efficiency, indicating that funds are primarily directed towards its mission. However, the absence of critical policies such as conflict of interest and whistleblower protection can create risks in maintaining ethical standards. Additionally, the missing tax form on the nonprofit's website may hinder transparency and access to information for stakeholders and potential donors.
Overall, while Legacy Concepts excels in financial metrics, the significant governance shortcomings warrant attention. Enhancing board independence and establishing essential policies would bolster the organization's credibility and support its long-term sustainability. Donors and stakeholders should consider these factors when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Legacy Concepts legitimate?
Legacy Concepts is a legitimate nonprofit organization registered as a 501(c)(3) entity. Legacy Concepts 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: $400,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Legacy Concepts?
Legacy Concepts' mission is centered around receiving and distributing charitable contributions, specifically for the purpose of supporting ministry services and the advancement of the Christian faith. They approve the allocation of funds to various religious and charitable organizations, aligning with their overarching mission. The organization's activities primarily involve managing and disbursing contributions as per the decisions made by their board of directors.
Who is the CEO of Legacy Concepts?
George Hancock is the President of Legacy Concepts.
What is the revenue of Legacy Concepts?
Legacy Concepts's revenue in 2022 was $3,640,492.
Who are the executives of Legacy Concepts and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Legacy Concepts?
Legacy Concepts's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Legacy Concepts
Legacy Concepts, as a nonprofit organization, is dedicated to collecting and distributing charitable contributions for the purpose of advancing religious and charitable ministry services. Its mission is centered around channeling funds towards initiatives that align with the Christian faith and promote spiritual growth. The organization's board of directors plays a crucial role in approving the allocation of these contributions to various ministries that adhere to these principles. By doing so, Legacy Concepts contributes to the broader community, supporting initiatives that uphold and foster the Christian faith.
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Impact
July, 2024
Legacy Concepts impacts communities by receiving and disbursing charitable contributions for ministry services and the furtherance of the Christian Faith. They support various religious and charitable ministry services as approved by their board of directors. Their work helps strengthen and support Christian organizations and initiatives, making a positive difference in the lives of many individuals and communities.
This information is meant to be a general summary of Legacy Concepts. 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.
- Gross Receipts: $3,640,492
Assets and Liabilities:
- Total Assets: $1,772,992
- Total Liabilities: $0
- Net Assets: $1,772,992
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Organization Details
Founding Year
2020
Principal Officer
George Hancock
Main Address
1018 Creekwood Dr, Garland, TX, 75044
NTEE Category
Code: X20 - Religion related
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