Christian Legacy Foundation
- Assets
- $2.2m
- Revenue
- $61.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Nashville, TN
- Founding
- 08/2017
- Data as of
- 12/2022
- EIN
- 82-1501463
Organization Overview
Christian Legacy Foundation is located in Nashville, TN. The organization was established in 2017. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Christian Legacy 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, Christian Legacy Foundation generated $61.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (52.9%) each year. All expenses for the organization totaled $196.8k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HELP AND RESOURCES TO FURTHER PERSONAL SPIRITUAL GROWTH, FOSTER CHRISTIAN HEALING, AND SPREAD THE WORD OF GOD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S FIRST PRIORITY WAS TO PUT TOGETHER A HEALTHY ORGANIZATIONAL STRUCTURE. THIS INCLUDED WORKING CLOSELY WITH OUR LEGAL ADVISORS, FINANCIAL ADVISORS, CPA'S, AND OTHERS. THE FOUNDATION'S SECOND PRIORITY CENTERED ON FINDING AN OFFICE LOCATION. THE PARSONAGE OF THE EAST BRENTWOOD PRESBYTERIAN CHURCH WAS DETERMINED AS THE BEST OPTION. THE BOARD OF DIRECTORS AGREED TO FUND ESSESTIAL RENOVATION WORK ON THE PARSONAGE, AND RENT ABATEMENT WAS GIVEN FOR THE RESOURCES THE FOUNDATION PROVIDED TO THE LOCATION. THE FOUNDATION'S THIRD PRIORITY CENTERED ON THE ENGAGEMENT OF POTENTIAL PROJECTS TO PURSUE IN FUTURE YEARS. THE FIRST POTENTIAL PROJECT IS THE RENOVATION OF THE PARSONAGE ATTIC SPACE TO DISPLAY CHURCH ARTIFACTS AND CREATE A SPACE FOR SMALL GROUP MEETING, PRAYER, MEDITATION, AND READING. THE SECOND PROJECT FOCUSES ON A JOINT MISSION IN GUATEMALA WITH THE PRESBYTERY OF MIDDLE TENNESSEE AND EAST BRENTWOOD PRESBYTERIAN CHURCH. EDUCATION AND PASTORAL TRAINING WOULD BE THE FOCUS OF THIS JOINT MISSION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen K Cottingham President/director | OfficerTrustee | 40 | $70,284 |
Paul E Ridge Secretary/director | OfficerTrustee | 2.5 | $0 |
Mark A Young Treasurer/director | OfficerTrustee | 2.5 | $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 | $275 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $275 |
| Total Program Service Revenue | $0 |
| Investment income | $61,358 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$149 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,484 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $101,948 |
| Compensation of current officers, directors, key employees. | $101,948 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,399 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,228 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $31,436 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,838 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,934 |
| Insurance | $0 |
| All other expenses | $1,788 |
| Total functional expenses | $196,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $98,117 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $65,233 |
| Investments—publicly traded securities | $2,074,266 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,237,616 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $2,237,616 |
| 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 | $2,237,616 |
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