Legacy Parks Foundation

Analysis

Legacy Parks Foundation is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in October 2006, 20 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Legacy Parks Foundation reported income of $2.2m and spending of $1.2m, leaving 44% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $837k to $2.2m (+161%), an average of +27% a year. The sharpest change came in the year to December 2020, when income rose by 87%. Over the whole period it spent 67% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Legacy Parks Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within TN. Charities of a similar size with the same main cause include Moorhead Youth Hockey Assn ($2.2m), Golden State Golf Tour Association ($2.2m) and Arizona Golf and Life Skills Inc ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $163k (13% of expenses). Other salaries and wages came to $226k. At year end it held assets of $4.7m against liabilities of $53k, net assets of $4.6m. It reported 6 employees.