Legacy Minded Men Inc

Analysis

Legacy Minded Men Inc is a registered charity in United States, based in Vero Beach, FL. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Minded Men Inc reported income of $146k and spending of $298k, spending 204% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $270k to $146k (-46%), an average of -14% a year. The sharpest change came in the year to December 2020, when income rose by 68%. Over the whole period it spent 99% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Legacy Minded Men Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 50th percentile within FL. Charities of a similar size with the same main cause include Truth Synergies NFP ($146k), Shepherds Home Inc ($146k) and Faith Fourth of July Committee ($146k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $90k (30% of expenses). Other salaries and wages came to $101k. At year end it held assets of $65k against liabilities of -$838, net assets of $66k. It reported 4 employees.