Legacy Foundation Inc

Analysis

Legacy Foundation Inc is a registered charity in United States, based in Merrillville, IN. It received its IRS tax-exemption ruling in December 1997, 29 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 Foundation Inc reported income of $4.9m and spending of $6.1m, spending 125% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $8.1m to $4.9m (-40%), an average of -12% a year. The sharpest change came in the year to December 2023, when income rose by 398%. Over the whole period it spent 53% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Legacy Foundation Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within IN. Charities of a similar size with the same main cause include United Way of Bartholomew County Inc ($4.9m), Phelps County Community Foundation Inc ($4.9m) and We Take It for Charity Inc ($4.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $131k (2.1% of expenses). Other salaries and wages came to $376k. At year end it held assets of $84.1m against liabilities of $10.9m, net assets of $73.1m. It reported 11 employees.