Legacy Ministries Inc

Analysis

Legacy Ministries Inc is a registered charity in United States, based in Wichita, KS. It received its IRS tax-exemption ruling in December 2014, 12 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Ministries Inc reported income of $565k and spending of $402k, leaving 29% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $227k to $565k (+149%), an average of +26% a year. The sharpest change came in the year to December 2023, when income rose by 50%. Over the whole period it spent 86% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Legacy Ministries Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within KS. Charities of a similar size with the same main cause include Wisconsin Lutheran High School Foundation Inc ($565k), Mission Driven Ministries ($565k) and Vietnamese Sangha Congregation in America Phuoc Minh Monastery ($565k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 6.5% of the total. Compensation of current officers, directors and key employees was $53k (13% of expenses). Other salaries and wages came to $190k. At year end it held assets of $434k against liabilities of $8,275, net assets of $426k. It reported 29 employees.