Legacy Charities Inc

Analysis

Legacy Charities Inc is a registered charity in United States, based in New Braunfels, TX. It received its IRS tax-exemption ruling in May 2004, 22 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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 Charities Inc reported income of $590k and spending of $599k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $816k to $590k (-28%), an average of -7.8% a year. The sharpest change came in the year to December 2021, when income rose by 116%. Over the whole period it spent 95% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Legacy Charities Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 77th percentile within TX. Charities of a similar size with the same main cause include Touch a Life ($590k), Hope for Haitians Inc ($590k) and Choshen Farm Inc ($590k).

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 $17k (2.8% of expenses). At year end it held assets of $571k against liabilities of $585k, 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.