My Legacy Foundation

Analysis

My Legacy Foundation is a registered charity in United States, based in Dearborn, MI. It received its IRS tax-exemption ruling in May 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, My Legacy Foundation reported income of $220k and spending of $477k, spending 217% of what it took in. Across the 3 years on record, from June 2022 to June 2024, income grew from $30k to $220k (+633%), an average of +171% a year. The sharpest change came in the year to June 2023, when income rose by 6694%. Over the whole period it spent 41% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, My Legacy Foundation sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 55th percentile within MI. Charities of a similar size with the same main cause include Mishkah Academy Corporation ($220k), Gulf Offshore Research Institute ($220k) and James Madison Universityreal Estate Foundation Inc ($220k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $1.6m against liabilities of $0, net assets of $1.6m.