Legacy Foundation Inc
- Assets
- $89.9m
- Revenue
- $23.4m
- Investments
- $0.0
- Employees
- 10
- Location
- Merrillville, IN
- Founding
- 12/1997
- Data as of
- 12/2021
- EIN
- 35-1872803
Organization Overview
Legacy Foundation Inc is located in Merrillville, IN. The organization was established in 1997. 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 12/2021, Legacy Foundation Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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 12/2021, Legacy Foundation Inc generated $23.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 40.1% each year . All expenses for the organization totaled $5.8m during the year ending 12/2021. While expenses have increased by 19.2% 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, Legacy Foundation Inc has awarded 443 individual grants totaling $11,484,820. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE LEGACY FOUNDATION, INC. WILL SEEK AND ACCEPT ENDOWMENTS FROM PUBLIC AND PRIVATE SOURCES AND DISTRIBUTE GRANTS FOR COMMUNITY ENHANCING PROJECTS AND OTHER CHARITABLE PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEGACY FOUNDATION PROVIDED TOTAL GRANTS AND SCHOLARSHIPS IN 2021 OF 3,589,212. OPERATIONAL SUPPORT WAS PROVIDED FOR ONGOING OPERATIONS. THIS INCLUDED AMOUNTS FOR EQUIPMENT, SUPPLIES, PROGRAMMING AND SERVICES TO SEVERAL CHARITABLE ORGANIZATIONS. COLLEGE SCHOLARSHIPS WERE AWARDED FOR INDIVIDUALS. LEGACY FOUNDATION AWARDED SCHOLARSHIPS TO INDIVIDUALS TO ASSIST WITH POST-SECONDARY EDUCATION COSTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Saxton President | Officer | 40 | $153,536 |
Carey Yukich Vice-Chair | OfficerTrustee | 1 | $0 |
Gregory Gordon Chair | OfficerTrustee | 1 | $0 |
James Dunne Treasurer | OfficerTrustee | 1 | $0 |
Dana Rifai Secretary | OfficerTrustee | 1 | $0 |
Karima Hasan Bey Director | Trustee | 1 | $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 | $2,686,336 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,686,336 |
| Total Program Service Revenue | $830,564 |
| Investment income | $1,497,888 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,402,683 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,418,316 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,170,016 |
| Grants and other assistance to domestic individuals. | $419,196 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $153,536 |
| Compensation of current officers, directors, key employees. | $77,988 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $390,758 |
| Pension plan accruals and contributions | $51,400 |
| Other employee benefits | $0 |
| Payroll taxes | $41,136 |
| Fees for services: Management | $830,564 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,694 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $299,541 |
| Fees for services: Other | $25,258 |
| Advertising and promotion | $22,039 |
| Office expenses | $7,109 |
| Information technology | $46,519 |
| Royalties | $0 |
| Occupancy | $85,115 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,346 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,763 |
| Insurance | $5,758 |
| All other expenses | $5,142 |
| Total functional expenses | $5,769,114 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $619,376 |
| Savings and temporary cash investments | $4,578,418 |
| Pledges and grants receivable | $7,686,727 |
| Accounts receivable, net | $0 |
| 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 | $9,281 |
| Net Land, buildings, and equipment | $41,422 |
| Investments—publicly traded securities | $77,012,751 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $89,947,975 |
| Accounts payable and accrued expenses | $128,590 |
| Grants payable | $368,392 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $11,052,179 |
| 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 | $442,637 |
| Total liabilities | $11,991,798 |
| Net assets without donor restrictions | $1,710,149 |
| Net assets with donor restrictions | $76,246,028 |
| 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 | $89,947,975 |
Grants Awarded
Over the last fiscal year, Legacy Foundation Inc has awarded $2,462,266 in support to 65 organizations.
| Grant Recipient | Amount |
|---|---|
TOWN OF MERRILLVILLE PURPOSE: FURTHER ORGS MISSION | $500,000 |
Merrillville, IN PURPOSE: FURTHER ORGS MISSION | $292,930 |
Hobart, IN PURPOSE: FURTHER ORGS MISSION | $169,855 |
Merrillville, IN PURPOSE: FOOD INSECURITIES | $103,800 |
Merrillville, IN PURPOSE: FURTHER ORGS MISSION | $101,276 |
Hobart, IN PURPOSE: FURTHER ORGS MISSION | $84,927 |
Grants Recieved
Over the last fiscal year, we have identified 22 grants that Legacy Foundation Inc has recieved totaling $2,191,699.
| Awarding Organization | Amount |
|---|---|
Dean & Barbara White Family Foundation Inc Merrillville, IN PURPOSE: OPERATING GRANT | $2,000,000 |
John W Anderson Foundation Valparaiso, IN PURPOSE: OPERATING | $103,800 |
John W Anderson Foundation Valparaiso, IN PURPOSE: OPERATING | $30,000 |
International Brotherhood Of Electrical Workers Merrillville, IN PURPOSE: SCHOLARSHIPS | $26,600 |
Unity Foundation Of Laporte County Inc Michigan City, IN PURPOSE: COMMUNITY DEV | $10,000 |
Sourlis Irrv Charitable Tr Munster, IN PURPOSE: OPERATING FUNDS | $6,000 |
Endowment Analysis
| Beg. Balance | $59,439,470 |
| Earnings | $8,611,204 |
| Admin Expense | $693,360 |
| Net Contributions | $1,697,434 |
| Grants | $1,151,564 |
| Ending Balance | $67,903,184 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Community Foundatio Of Louisville Depository Inc Louisville, KY | $29,429,716 | $18,203,702 |
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 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 Southern Indiana Inc New Albany, IN | $128,848,099 | $8,060,969 |
Waukesha County Community Foundation Inc Waukesha, WI | $76,894,981 | $24,718,378 |
Community Foundation Alliance Inc Evansville, IN | $117,500,760 | $8,724,196 |
Hamilton County Community Foundation Inc Fishers, IN | $98,701,430 | $28,985,245 |