Family Legacy Foundation

Analysis

Family Legacy Foundation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. 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 July 2023, Family Legacy Foundation reported income of $1.0m and spending of $1.1m, spending 111% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $387k to $1.0m (+168%), an average of +28% a year. The sharpest change came in the year to July 2020, when income rose by 50%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Family Legacy Foundation sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within IL. Charities of a similar size with the same main cause include International Society for Quality Life Research ($1.0m), Omaha Street School Inc ($1.0m) and Momentum Alumnae Program Inc ($1.0m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $615k. At year end it held assets of $127k against liabilities of $12k, net assets of $116k.