Faith Legacy Foundation Inc
- Assets
- $2.5m
- Revenue
- $119.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Lafayette, IN
- Founding
- 01/2007
- Data as of
- 06/2022
- EIN
- 20-3481963
Organization Overview
Faith Legacy Foundation Inc is located in Lafayette, IN. The organization was established in 2007. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faith 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, Faith Legacy Foundation Inc generated $119.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $69.6k during the year ending 06/2022. While expenses have increased by 2.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTION OF, OR TO CARRY OUT THE PURPOSES OF ANY PUBLICLY SUPPORTED ORGANIZATION THAT IS ORGANIZED AND OPERATES FOR ONE OR MORE OF THE FOLLOWING PURPOSES: A) ADVANCEMENT OF BELIEF IN AND UNDERSTANDING CHRISTIANITY AND OF CHRISTIAN WORSHIP, B) ADVANCEMENT OR PROVISION OF CHRISTIAN ACADEMIC EDUCATION, C) ADVANCEMENT OF SPIRITUAL, MENTAL, EMOTIONAL, OR PHYSICAL HEALTH, D) RELIEF OF SPIRITUAL, MENTAL, EMOTIONAL, OR PHYSICAL SUFFERING, AND E) PREVENTION OF JUVENILE DELINQUENCY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FURTHER CHRISTIAN ACADEMIC EDUCATION AND FURTHER THE BELIEF IN AND UNDERSTANDING IN CHRISTIANITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Boyer Secretary | OfficerTrustee | 0.5 | $0 |
Matthew Westhuis Cfo/treasure | OfficerTrustee | 0 | $0 |
Erik Roe President | OfficerTrustee | 0.5 | $0 |
Arvid Olson Executive Di | Officer | 0.5 | $0 |
Scott Grass Director | Trustee | 0.5 | $0 |
Grant Whaley Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $28,754 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,254 |
| Total Program Service Revenue | $0 |
| Investment income | $77,527 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $119,781 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $64,500 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $324 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $3,615 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $69,569 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $620 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $633,961 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $118,393 |
| Investments—publicly traded securities | $1,795,310 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,548,284 |
| Accounts payable and accrued expenses | $604,345 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $604,345 |
| Net assets without donor restrictions | $319,281 |
| Net assets with donor restrictions | $1,624,658 |
| 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 | $2,548,284 |
Grants Awarded
Over the last fiscal year, Faith Legacy Foundation Inc has awarded $64,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Lafayette, IN PURPOSE: SUPPORT | $57,000 |
NORTHEND COMMUNITY CENTER PURPOSE: SUPPORT | $7,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Faith Legacy Foundation Inc has recieved totaling $6,500.
| Awarding Organization | Amount |
|---|---|
Faith Community Development Corporation Lafayette, IN PURPOSE: OPERATING EXPENSES | $6,500 |
Endowment Analysis
| Beg. Balance | $2,204,774 |
| Earnings | -$233,520 |
| Admin Expense | -$5,069 |
| Net Contributions | $42,254 |
| Grants | -$64,500 |
| Ending Balance | $1,943,939 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Association Of Community Ministries Inc Louisville, KY | $445,495 | $6,215,911 |
Perception Funding Inc Kansas City, MO | $746,520 | $3,023,889 |
Stone Table Inc Plainfield, IN | $3,350,339 | $2,332,694 |
Amish Mutual Mortgage Fund Nappanee, IN | $84,844,116 | $2,126,511 |
Catholic Community Foundation Kansas City, MO | $9,563,701 | $3,058,896 |
Cabc Usa Inc Waukesha, WI | $822,280 | $1,932,888 |
Community Interfaith Food Pantry Belleville, IL | $1,307,668 | $1,205,716 |
Old Colony Mennonite Support Inc Nappanee, IN | $641,140 | $738,894 |
Carpenters Project Incorporated Clayton, IN | $118,120 | $464,186 |
Weaverland Financial Aid Of Wisconsin Loyal, WI | $18,675,718 | $520,520 |
Del Camino Connection Nfp Fox River Grove, IL | $106,746 | $312,472 |
Christtogether Inc Wheaton, IL | $145,465 | $385,387 |