Legacy Residential Homes Inc

Analysis

Legacy Residential Homes Inc is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in December 2019, 7 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Residential Homes Inc reported income of $1.8m and spending of $1.6m, spending 90% of its income. Across the 2 years on record, from December 2021 to December 2022, income grew from $470k to $1.8m (+283%), an average of +283% a year. The sharpest change came in the year to December 2022, when income rose by 283%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Legacy Residential Homes Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within OH. Charities of a similar size with the same main cause include Grow Pittsburgh ($1.8m), Urc Foundation ($1.8m) and Intercambio de Comunidades ($1.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 0.4% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $67k (4.1% of expenses). Other salaries and wages came to $151k. It paid $900 in professional fundraising fees. At year end it held assets of $141k against liabilities of $0, net assets of $141k. It reported 25 employees.