The Legacy Center Community Development Corporation

Analysis

The Legacy Center Community Development Corporation is a registered charity in United States, based in Glendale, NY. It received its IRS tax-exemption ruling in July 2010, 16 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, The Legacy Center Community Development Corporation reported income of $1.3m and spending of $1.3m, spending 101% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $780k to $1.3m (+70%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 1254%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Legacy Center Community Development Corporation sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include Rightfully Sewn Inc ($1.3m), Downtown Vision Alliance Inc ($1.3m) and Workforce Development Board of Western Mo Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $36k (2.7% of expenses). At year end it held assets of $949k against liabilities of $964k, net assets of -$15k. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.