Legacy Title Holding Corporation
- Assets
- $13.8m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Durant, OK
- Founding
- 05/2015
- Data as of
- 12/2023
- EIN
- 46-5430970
Organization Overview
Legacy Title Holding Corporation is located in Durant, OK. The organization was established in 2015. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legacy Title Holding Corporation is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2023, Legacy Title Holding Corporation generated $3.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (14.3%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS A 501(C)(2) ORGANIZATION AND WAS CREATED TO HOLD TITLE OF PROPERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A TITLE HOLDING ORGANIZATION AND LEASES THE PROPERTY IT HOLDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacob Sheriff Past Pres./t | OfficerTrustee | 1 | $0 |
Denny Hall Secretary/tr | OfficerTrustee | 1 | $0 |
Ryan Johnson President/tr | OfficerTrustee | 1 | $0 |
Greg Massey Vice Pres./t | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,621,633 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $18,810 |
| Noncash contributions included in lines 1a–1f | $717,535 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,640,443 |
| Total Program Service Revenue | $187,403 |
| Investment income | $20,227 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,515,655 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,496,748 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,001,422 |
| 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 | $500 |
| Fees for services: Accounting | $2,165 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $129 |
| Advertising and promotion | $0 |
| Office expenses | $80 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $127,396 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,927 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $371,659 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,515,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,041 |
| 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 | $250,227 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,094 |
| Net Land, buildings, and equipment | $13,499,892 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,835,254 |
| Accounts payable and accrued expenses | $0 |
| 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 | $164,544 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $164,544 |
| Net assets without donor restrictions | $13,670,710 |
| 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 | $13,835,254 |
Grants Awarded
Over the last fiscal year, Legacy Title Holding Corporation has awarded $1,192,954 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VICTORY LIFE CHURCH PURPOSE: GENERAL SUPPORT | $1,169,448 |
HANDS OF HOPE INC PURPOSE: GENERAL SUPPORT | $23,506 |