Onward a Legacy Foundation

Analysis

Onward a Legacy Foundation is a registered charity in United States, based in Cortez, CO. It received its IRS tax-exemption ruling in May 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Onward a Legacy Foundation reported income of $4.2m and spending of $3.8m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.0m to $4.2m (+107%), an average of +20% a year. The sharpest change came in the year to December 2021, when income rose by 32%. Over the whole period it spent 74% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Onward a Legacy Foundation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within CO. Charities of a similar size with the same main cause include Beacon Academy Charter School ($4.2m), Middletown Preparatory and Fitness Academy ($4.2m) and Al-Arqam Islamic School ($4.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 6.2% of the total. Compensation of current officers, directors and key employees was $30k (0.8% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $6.6m against liabilities of $669k, net assets of $5.9m. It reported 193 employees.