Legacy Institute

Analysis

Legacy Institute is a registered charity in United States, based in Colorado SPGS, CO. It received its IRS tax-exemption ruling in December 2017, 9 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 August 2023, Legacy Institute reported income of $655k and spending of $1.8m, spending 269% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $523k to $655k (+25%), an average of +5.8% a year. The sharpest change came in the year to August 2021, when income rose by 1790%. Over the whole period it spent 282% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Legacy Institute sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 72nd percentile within CO. Charities of a similar size with the same main cause include Resourcewest ($655k), Reading Community Television Inc ($655k) and Little Scholars Academy Inc ($655k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 42% of the total. Compensation of current officers, directors and key employees was $269k (15% of expenses). Other salaries and wages came to $75k. At year end it held assets of $1.1m against liabilities of $12k, net assets of $1.1m. It reported 2 employees.

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.