Legacy Redevelopment Corporation

Analysis

Legacy Redevelopment Corporation is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in January 2001, 25 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 Redevelopment Corporation reported income of $2.6m and spending of $1.4m, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $828k to $2.6m (+209%), an average of +33% a year. The sharpest change came in the year to December 2022, when income rose by 75%. Over the whole period it spent 76% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Legacy Redevelopment Corporation 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 88th percentile, and in the 88th percentile within WI. Charities of a similar size with the same main cause include CMHP Properties Inc ($2.6m), New Point Acquisitions Inc ($2.6m) and Habitat for Humanity International Inc ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 3.2% of the total. Compensation of current officers, directors and key employees was $137k (10% of expenses). Other salaries and wages came to $249k. At year end it held assets of $14.0m against liabilities of $11.3m, net assets of $2.7m. It reported 6 employees.