Legacy Family Ministries

Analysis

Legacy Family Ministries is a registered charity in United States, based in Waco, TX. It received its IRS tax-exemption ruling in November 1995, 31 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 2022, Legacy Family Ministries reported income of $231k and spending of $295k, spending 128% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $244k to $231k (-5.3%), an average of -1.8% a year. The sharpest change came in the year to December 2020, when income rose by 43%. Over the whole period it spent 88% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Legacy Family Ministries sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 61st percentile within TX. Charities of a similar size with the same main cause include International Association of Baptist Colleges and Universities ($231k), Centro Cristiano Vida Abundante ($231k) and Sanatana Hindu-Dharma International Vedic Awareness ($231k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 107% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $72k (24% of expenses). At year end it held assets of $523k against liabilities of $0, net assets of $523k. It reported 3 employees.