Lutheran Legacy Foundation Inc
- Assets
- $56.4m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 4
- Location
- Paris, IL
- Founding
- 03/2007
- Data as of
- 06/2022
- EIN
- 20-3142622
Organization Overview
Lutheran Legacy Foundation Inc is located in Paris, IL. The organization was established in 2007. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Lutheran Legacy Foundation Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lutheran Legacy Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Lutheran Legacy Foundation Inc generated $3.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $1.7m during the year ending 06/2022. While expenses have increased by 3.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lutheran Legacy Foundation Inc has awarded 249 individual grants totaling $7,071,339. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LUTHERAN LEGACY FOUNDATION INC (LLF) IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, EDUCATIONAL, AND SCIENTIFIC PURPOSES, INCLUDING MAKING DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTIONS 501(C)(3) OF THE INTERNAL REVENUE CODE, OR THE CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE. THE PURPOSE OF THIS CORPORATION SHALL BE TO DISTRIBUTE FUNDS TO QUALIFIED CHARITABLE ORGANIZATIONS CONSISTENT WITH THE PURPOSES OF THE CORPORATION, SUBJECT TO ANY LIMITATIONS OR RESTRICTIONS STATED IN THE INSTRUMENT UNDER WHICH THE DONATION IS CONTRIBUTED TO THE CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LUTHERAN LEGACY FOUNDATION INC (LLF) IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, EDUCATIONAL, AND SCIENTIFIC PURPOSES, INCLUDING MAKING DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTIONS 501(C)(3) OF THE INTERNAL REVENUE CODE, OR THE CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE. THE PURPOSE OF THIS CORPORATION SHALL BE TO DISTRIBUTE FUNDS TO QUALIFIED CHARITABLE ORGANIZATIONS CONSISTENT WITH THE PURPOSES OF THE CORPORATION, SUBJECT TO ANY LIMITATIONS OR RESTRICTIONS STATED IN THE INSTRUMENT UNDER WHICH THE DONATION IS CONTRIBUTED TO THE CORPORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry L Klug Executive Di | OfficerTrustee | 32 | $70,800 |
Christopher Eldredge Secretary | OfficerTrustee | 1 | $14,968 |
Thomas E Patchett President | OfficerTrustee | 5 | $14,182 |
James Jordan-Wagner Treasurer | OfficerTrustee | 5 | $14,000 |
Ingrid Petrich Director | Trustee | 1 | $13,380 |
Mark Bluhm Director | Trustee | 1 | $13,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,275 |
| All other contributions, gifts, grants, and similar amounts not included above | $896,714 |
| Noncash contributions included in lines 1a–1f | $194,139 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $912,989 |
| Total Program Service Revenue | $370,619 |
| Investment income | $479,850 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,354,476 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,118,884 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,062,529 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $148,733 |
| Compensation of current officers, directors, key employees. | $37,183 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,766 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,284 |
| Payroll taxes | $9,907 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,108 |
| Fees for services: Accounting | $98,655 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,845 |
| Fees for services: Other | $120,085 |
| Advertising and promotion | $0 |
| Office expenses | $46,050 |
| Information technology | $1,580 |
| Royalties | $0 |
| Occupancy | $8,081 |
| Travel | $12,902 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,669 |
| Insurance | $24,362 |
| All other expenses | $4,021 |
| Total functional expenses | $1,712,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $408,890 |
| Savings and temporary cash investments | $1,260,314 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,665 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $284,679 |
| Investments—publicly traded securities | $54,314,007 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $87,843 |
| Total assets | $56,372,398 |
| Accounts payable and accrued expenses | $27,610 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $28,851,802 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $28,879,412 |
| Net assets without donor restrictions | $1,092,410 |
| Net assets with donor restrictions | $26,400,576 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $56,372,398 |
Grants Awarded
Over the last fiscal year, Lutheran Legacy Foundation Inc has awarded $1,003,926 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
Evansville, IN PURPOSE: GENERAL SUPPORT | $210,000 |
Paris, IL PURPOSE: OPERATIONS & GENERAL | $108,000 |
Fort Wayne, IN PURPOSE: MATCHING GRANT & OPE | $86,700 |
Cary, NC PURPOSE: MATCHING SUPPORT | $68,790 |
Stevens Point, WI PURPOSE: MATCHING GRANT | $67,268 |
Cary, NC PURPOSE: OPERATIONS | $55,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lutheran Legacy Foundation Inc has recieved totaling $1,000,100.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $500,050 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $500,050 |
Endowment Analysis
| Beg. Balance | $32,041,231 |
| Earnings | -$4,887,192 |
| Admin Expense | $766,443 |
| Net Contributions | $872,186 |
| Other Expense | $153,376 |
| Grants | $705,830 |
| Ending Balance | $26,400,576 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Community Foundatio Of Louisville Depository Inc Louisville, KY | $29,429,716 | $18,203,702 |
Quad Cities Community Foundation Bettendorf, IA | $165,771,747 | $15,098,956 |
Greater Cedar Rapids Community Foundation Cedar Rapids, IA | $223,368,352 | $26,493,454 |
Community Foundation Of St Joseph County Inc South Bend, IN | $247,009,993 | $29,572,898 |
St Louis Community Foundation St Louis, MO | $112,098,850 | $20,148,169 |
Dupage Community Foundation Downers Grove, IL | $125,703,251 | $14,295,087 |
The Community Foundation Of Louisville Corporate Depository In Louisville, KY | $17,663,337 | $10,177,129 |
Oshkosh Area Community Foundation Corporation Oshkosh, WI | $140,509,815 | $17,534,681 |
Community Foundation Of Greater Dubuque Dubuque, IA | $145,486,240 | $37,640,315 |
Community Foundation Of Greater Fort Wayne Inc Fort Wayne, IN | $181,936,459 | $11,602,152 |
Community Foundation Of Northern Illinois Rockford, IL | $141,924,845 | $12,064,778 |
Community Foundation Of Northeast Iowa Cedar Falls, IA | $163,015,524 | $24,241,546 |