The Legacy Project Inc

Analysis

The Legacy Project Inc is a registered charity in United States, based in Lynchburg, VA. It received its IRS tax-exemption ruling in December 1995, 31 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, The Legacy Project Inc reported income of $57k and spending of $81k, spending 142% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $43k to $57k (+35%), an average of +7.7% a year. The sharpest change came in the year to December 2020, when income rose by 132%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Legacy Project Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 22nd percentile within VA. Charities of a similar size with the same main cause include Hawkeye Community Theatre ($57k), Davis Sculpture Foundation ($57k) and Canterbury Guild Inc ($57k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $17k (20% of expenses). At year end it held assets of $638k against liabilities of $50k, net assets of $588k. It reported 1 employees.