Legett Foundation
- Assets
- $94.0m
- Revenue
- $25.2m
- Investments
- $79.1m
- Employees
- 0
- Location
- Abilene, TX
- Founding
- 01/1998
- Data as of
- 12/2022
- EIN
- 75-2696419
Organization Overview
Legett Foundation is located in Abilene, TX. The organization was established in 1998. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legett Foundation 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 12/2022, Legett Foundation generated $25.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.2% each year . All expenses for the organization totaled $14.4m during the year ending 12/2022. While expenses have increased by 10.8% per year over the past 4 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 2020, Legett Foundation has awarded 477 individual grants totaling $66,273,560. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kade L Matthews Dir/chairman/ceo/president | 4 | $83,778 | |
Joseph Edwin Canon Dir/exec Vp/exec Director/sec | 11.67 | $85,073 | |
Watt R Matthews Sr Vice Pres-Investments | 8 | $74,245 | |
Linda S Buckner Vice Pres/property Admin | 12 | $46,519 | |
Jeff Blanks Vice Pres/treasurer/cfo | 13.33 | $75,924 | |
Dixie Morris Vice Pres/grants Officer | 12 | $21,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Condley And Company Llp | 12/30/21 | $79,828 |
Lawrence E Gill | 12/30/21 | $50,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,410 |
| Dividends & Interest | $1,514,924 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $96,996 |
| Capital Gain Net Income | $96,996 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $23,568,636 |
| Total Revenue | $25,181,966 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $449,734 |
| Other employee salaries and wages | $1,127,574 |
| Pension plans, employee benefits | $390,766 |
| Interest | $0 |
| Taxes | $491,562 |
| Depreciation | $1,986,221 |
| Occupancy | $112,458 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | -$1,193,825 |
| Total operating and administrative expenses | $3,440,856 |
| Contributions, gifts, grants paid | $11,001,707 |
| Total expenses and disbursements | $14,442,563 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,221,710 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $37,514,862 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $670,565 |
| Total assets | $94,012,608 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $5,187 |
| Total liabilities | $5,187 |
Grants Awarded
Over the last fiscal year, Legett Foundation has awarded $34,210,040 in support to 156 organizations.
| Grant Recipient | Amount |
|---|---|
ABILENE ARTS ALLIANCE PURPOSE: CHARITABLE - ENDOWMENT FUND | $37,500 |
ABILENE ARTS ALLIANCE PURPOSE: CHARITABLE - CALF FESTIVAL | $20,000 |
ABILENE ARTS ALLIANCE PURPOSE: CHARITABLE - YOUNG AUDIENCES | $10,000 |
ABILENE CHRISTIAN UNIVERSITY PURPOSE: EDUCATIONAL - HIGHER GROUND CAMPAIGN | $1,000,000 |
ABILENE HERITAGE SQUARE INC PURPOSE: CHARITABLE - LINCOLN MIDDLE SCHOOL RENOVATION | $1,000,000 |
ABILENE HOPE HAVEN INC PURPOSE: CHARITABLE - BANQUET SPONSOR | $5,000 |