Legacy One Development Corporation
- Assets
- $2.7m
- Revenue
- $987.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Mckees Rocks, PA
- Founding
- 05/1969
- Data as of
- 03/2022
- EIN
- 23-7046915
Organization Overview
Legacy One Development Corporation is located in Mckees Rocks, PA. The organization was established in 1969. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legacy One Development Corporation 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 03/2022, Legacy One Development Corporation generated $987.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 69.5% each year . All expenses for the organization totaled $1.1m during the year ending 03/2022. While expenses have increased by 28.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS AND TO PROVIDE A SAFE AND NURTURING ENVIRONMENT FOR INDIVIDUALS WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES THAT FOSTERS GROWTH, INDEPENDENCE AND CHOICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED ENHANCED LIVING SERVICES AND IMPROVED LIFESTYLE OPPORTUNITIES FOR ADULTS WITH INTELLECTUAL DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Wimbish President | OfficerTrustee | 40 | $125,000 |
Curtis Hefflin Chairman | OfficerTrustee | 2 | $12,000 |
Neil Dorsey Vice Preside | OfficerTrustee | 2 | $0 |
Nicole Corn Secretary | OfficerTrustee | 2 | $0 |
Kendrick Gwynn Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,907 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,907 |
| Total Program Service Revenue | $921,201 |
| Investment income | $18,131 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $27,551 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $987,790 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $137,000 |
| Compensation of current officers, directors, key employees. | $21,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $603,417 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,288 |
| Payroll taxes | $60,083 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,743 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,098 |
| Fees for services: Other | $16,447 |
| Advertising and promotion | $1,000 |
| Office expenses | $6,354 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $73,884 |
| Travel | $11,519 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $439 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,934 |
| Insurance | $13,388 |
| All other expenses | $17,887 |
| Total functional expenses | $1,099,282 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $95,489 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,918 |
| 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 | $260,075 |
| Investments—publicly traded securities | $1,664,820 |
| Investments—other securities | $0 |
| Investments—program-related | $652,170 |
| Intangible assets | $0 |
| Other assets | $5,220 |
| Total assets | $2,688,692 |
| Accounts payable and accrued expenses | $8,321 |
| 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 | $8,321 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $2,680,371 |
| Total liabilities and net assets/fund balances | $2,688,692 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
1260 Housing Development Corporation Philadelphia, PA | $75,955,661 | $16,577,131 |
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Affordable Housing Alliance Inc Neptune, NJ | $23,008,220 | $15,041,931 |
New Community Corporation Newark, NJ | $92,222,632 | $16,838,314 |
Boston Tremont Housing Development Fund Corporation New York, NY | $28,761,784 | $24,917,100 |
Highbridge Community Housing Development Fund Corporation Bronx, NY | $37,198,979 | $10,077,862 |
Community Housing Network Inc Columbus, OH | $58,364,637 | $14,874,820 |
Harlem West Ii Housing Dev Fund Co Inc New York, NY | $7,149,098 | $1,214,746 |
Housing Development Corporation Midatlantic Lancaster, PA | $24,908,226 | $11,939,671 |
Augustus & James Corporation New York, NY | $14,865,131 | $12,141,215 |