Ashland Legacy TR

Analysis

Ashland Legacy TR is a registered charity in United States, based in Ashland, OH. It received its IRS tax-exemption ruling in July 2019, 7 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, Ashland Legacy TR reported income of $1.5m and spending of $2.8m, spending 183% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $521k to $1.5m (+192%), an average of +24% a year. The sharpest change came in the year to December 2020, when income dropped by 100%. Over the whole period it spent 235% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Ashland Legacy TR 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 84th percentile, and in the 83rd percentile within OH. Charities of a similar size with the same main cause include The Community Foundation for Crawford County ($1.5m), Jewish Federation of Central New York Inc ($1.5m) and Barney & Rachel Gottstein Char Foundation ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $5.3m against liabilities of $27.8m, net assets of -$22.6m.

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.