Legacy Cares Inc

Analysis

Legacy Cares Inc is a registered charity in United States, based in Scottsdale, AZ. It received its IRS tax-exemption ruling in November 2019, 7 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 December 2022, Legacy Cares Inc reported income of $27.8m and spending of $71.6m, spending 257% of what it took in. Across the 3 years on record, from December 2020 to December 2022, income grew from $17k to $27.8m (+168645%), an average of +4008% a year. The sharpest change came in the year to December 2021, when income rose by 9539%. Over the whole period it spent 343% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Legacy Cares Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within AZ. Charities of a similar size with the same main cause include USA Gymnastics ($27.6m), US National Whitewater Center Inc ($28.3m) and Next Door Foundation Inc ($27.0m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 19% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $680k (0.9% of expenses). Other salaries and wages came to $55k. At year end it held assets of $275.9m against liabilities of $348.6m, net assets of -$72.7m. It reported 3 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.