Legacy Community Housing Corporation
- Assets
- $6.5m
- Revenue
- -$545.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 11/2016
- Data as of
- 12/2022
- EIN
- 27-1761971
Organization Overview
Legacy Community Housing Corporation is located in Atlanta, GA. The organization was established in 2016. 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 Community Housing Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE SERVE DISADVANTAGED COMMUNITIES WORLDWIDE BY PROVIDING CHARITY, FINANCIAL SUPPORT AND INVESTMENT IN AREAS SUCH AS REAL ESTATE, COMMUNITY DEVELOPMENT, MINISTRIES, MEDICAL OUTREACH, EDUCATION, CHILDREN'S WELLNESS AND MENTAL HEALTH. WE SUPPORT PEOPLE AND ORGANIZATIONS THAT TRANSFORM LIVES AND COMMUNITIES. OUR INITIATIVES ELEVATE ALL MANKIND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING RESPECTABLE AFFORDABLE HOUSING WITH MEANINGFUL RESIDENT SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Sobol President And Executive Di | OfficerTrustee | 32 | $175,000 |
JD Sobol Vice President | OfficerTrustee | 0.7 | $0 |
Joe Frisella Treasurer | OfficerTrustee | 1.5 | $0 |
Philip Guistolise Secretary | OfficerTrustee | 0.2 | $0 |
Courtland Plichta Trustee | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,700 |
| Total Program Service Revenue | $408,558 |
| Investment income | $88,555 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,052,718 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$545,905 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $54,487 |
| Grants and other assistance to domestic individuals. | $11,262 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $175,000 |
| Compensation of current officers, directors, key employees. | $140,000 |
| 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 | $2,591 |
| Fees for services: Accounting | $2,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $18,220 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,400 |
| Office expenses | $7,738 |
| Information technology | $1,306 |
| 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 | $108,650 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $895 |
| All other expenses | $0 |
| Total functional expenses | $930,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,921 |
| Savings and temporary cash investments | $119 |
| 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 | $16,133 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,408,270 |
| Investments—other securities | $0 |
| Investments—program-related | $2,032,075 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,506,518 |
| Accounts payable and accrued expenses | $54,157 |
| 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 | $971,190 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,025,347 |
| Net assets without donor restrictions | $5,481,171 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $6,506,518 |
Grants Awarded
Over the last fiscal year, Legacy Community Housing Corporation has awarded $47,803 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WASHINGTON UNIVERSITY PURPOSE: TO SUPPORT THE CENTER FOR EXPERIENTIAL LEARNING | $21,427 |
ORPHANOS FOUNDATION PURPOSE: GENERAL SUPPORT | $10,000 |
ST LOUIS UNIVERSITY HIGH SCHOOL PURPOSE: GENERAL SUPPORT | $16,376 |