Legacy One Development Corporation

Analysis

Legacy One Development Corporation is a registered charity in United States, based in MC Kees Rocks, PA. It received its IRS tax-exemption ruling in May 1969, 57 years ago. 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 March 2023, Legacy One Development Corporation reported income of $2.1m and spending of $2.0m, spending 92% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $124k to $2.1m (+1615%), an average of +104% a year. The sharpest change came in the year to March 2022, when income rose by 274%. Over the whole period it spent 111% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Legacy One Development Corporation sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within PA. Charities of a similar size with the same main cause include Iowa Central Community College Foundation ($2.1m), Willing Workers Incorporated ($2.1m) and The Haven for Children Inc ($2.1m).

On its Form 990 for the period ending March 2023, revenue came from program service revenue 95% of the total. Compensation of current officers, directors and key employees was $141k (7.2% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $2.7m against liabilities of $36k, net assets of $2.6m. It reported 46 employees.