Legett Foundation
- Assets
- $82.9m
- Revenue
- $23.7m
- Investments
- $75.4m
- Employees
- 0
- Location
- Abilene, TX
- Founding
- 01/1998
- Data as of
- 12/2021
- 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 12/2021, Legett Foundation generated $23.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 59.2% each year . All expenses for the organization totaled $13.5m during the year ending 12/2021. While expenses have increased by 37.5% 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 321 individual grants totaling $32,063,520. 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 |
|---|---|---|---|
Joseph Edwin Canon Dir/exec Vp/exec Director | 11.67 | $82,925 | |
Kade L Matthews Dir/chairman/ceo/president | 4 | $81,431 | |
Jeff Blanks Vice Pres/treasurer/cfo | 13.33 | $74,192 | |
Watt R Matthews Sr Vice Pres-Investments | 8 | $72,547 | |
Linda S Buckner Vice Pres/sec/property Admin | 12 | $51,314 | |
John A Matthews Jr Director | 3 | $36,111 |
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 | $99,784 |
| Dividends & Interest | $1,265,355 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,383,937 |
| Capital Gain Net Income | $9,383,937 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $12,934,429 |
| Total Revenue | $23,683,505 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $445,191 |
| Other employee salaries and wages | $1,040,359 |
| Pension plans, employee benefits | $317,858 |
| Interest | $0 |
| Taxes | $252,657 |
| Depreciation | $1,508,177 |
| Occupancy | $108,078 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | -$1,102,706 |
| Total operating and administrative expenses | $2,702,604 |
| Contributions, gifts, grants paid | $10,750,050 |
| Total expenses and disbursements | $13,452,654 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,819,380 |
| 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 | $35,296,005 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $626,512 |
| Total assets | $82,883,497 |
| 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 | $17,174 |
| Total liabilities | $17,174 |
Grants Awarded
Over the last fiscal year, Legett Foundation has awarded $16,575,050 in support to 152 organizations.
| Grant Recipient | Amount |
|---|---|
Abilene, TX PURPOSE: CHARITABLE - DOWNTOWN HOTEL PROJECT | $3,000,000 |
Abilene, TX PURPOSE: CHARITABLE - LINCOLN MIDDLE SCHOOL RENOVATION | $2,250,000 |
Lubbock, TX PURPOSE: EDUCATIONAL - SCHOOL OF VETERINARY MEDICINE | $2,250,000 |
Abilene, TX PURPOSE: EDUCATIONAL - CAMPUS CENTER RENOVATION & ADDITION | $1,100,000 |
Canyon, TX PURPOSE: CHARITABLE - TO FUND A CHAIR IN COW-CALF MANAGEMENT | $750,000 |
Abilene, TX PURPOSE: CHARITABLE - LINCOLN MIDDLE SCHOOL RENOVATION | $750,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Legett Foundation Abilene, TX | $82,883,497 | $23,683,505 |
Kickapoo Springs Foundation Abilene, TX | $72,184,356 | $14,228,741 |
L S U Property Foundation Baton Rouge, LA | $15,333,183 | $5,972,139 |
Gibbs Christian Education Foundation Inc Owasso, OK | $5,420,863 | $1,976,079 |
Liberty Ukraine Foundation Austin, TX | $882,212 | $2,684,973 |
Friend Ships Lake Charles, LA | $2,732,214 | $1,634,834 |
Trinity Oaks Enterprises San Antonio, TX | $6,662,220 | $1,110,541 |
At&t Employee Relief Fund Dallas, TX | $5,954,314 | $1,646,484 |
The Manna Center Siloam Springs, AR | $826,207 | $1,196,710 |
Holt Foundation San Antonio, TX | $3,165,417 | $1,736,930 |
Pauls Valley General Hospital Foundation Pauls Valley, OK | $1,892,753 | $1,057,903 |
Wilson Charitable Tr Jacksonville, AR | $1,312,947 | $53,064 |