Legacy Institute
- Assets
- $3.9m
- Revenue
- $318.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Colorado Springs, CO
- Founding
- 12/2017
- Data as of
- 08/2021
- EIN
- 82-2620763
Organization Overview
Legacy Institute is located in Colorado Springs, CO. The organization was established in 2017. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. As of 08/2021, Legacy Institute employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legacy Institute 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 08/2021, Legacy Institute generated $318.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (57.2%) each year. All expenses for the organization totaled $766.7k during the year ending 08/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Legacy Institute has awarded 18 individual grants totaling $4,166,184. 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
TO ADVANCE PUBLIC EDUCATION AND COMMUNITY DEVELOPMENT IN COLORADO SPRINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HILLSIDE MAKER SPACE: INVESTMENT IN CONCRETE COUCH TO CREATE A NEIGHBORHOOD BASED MAKER SPACE THAT WILL ENHANCE THE HILLSIDE COMMUNITY AND LEGACY LOOP TRAIL SYSTEM. CONTINUED ON SCHEDULE O.
PUBLIC EDUCATION RELATED PROJECTS
SOCIAL IMPACT SERVICES: STRATEGIC PLANNING AND OPERATING SERVICES FOR COMMUNITY ORGANIZATIONS, PRIVATE FOUNDATIONS, AND SCHOOL DISTRICTS IN THE PIKES PEAK REGION FOCUSED ON INNOVATIVE APPROACHES TO SOCIAL IMPACT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zachary Mccomsey CEO | Officer | 50 | $245,000 |
Philip R Lane Director | Trustee | 5 | $0 |
Bart Holaday Director | Trustee | 5 | $0 |
Vance Brown Director | Trustee | 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 | $162,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $162,500 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$89,416 |
| Net Gain/Loss on Asset Sales | $244,879 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $318,949 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $161,750 |
| 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. | $255,162 |
| Compensation of current officers, directors, key employees. | $255,162 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $100,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,162 |
| Payroll taxes | $20,057 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,613 |
| Fees for services: Accounting | $14,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $68,742 |
| Advertising and promotion | $3,242 |
| Office expenses | $3,340 |
| Information technology | $3,599 |
| Royalties | $0 |
| Occupancy | $600 |
| Travel | $2,250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $76,549 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $34,649 |
| All other expenses | $2,730 |
| Total functional expenses | $766,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $493,050 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,963 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $873 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $583 |
| Net Land, buildings, and equipment | $3,257,766 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $99,255 |
| Other assets | $0 |
| Total assets | $3,931,490 |
| Accounts payable and accrued expenses | $5,902 |
| 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 | $1,424,524 |
| Total liabilities | $1,430,426 |
| Net assets without donor restrictions | $0 |
| 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 | $2,501,064 |
| Total liabilities and net assets/fund balances | $3,931,490 |
Grants Awarded
Over the last fiscal year, Legacy Institute has awarded $160,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Colorado Springs, CO PURPOSE: Program Services | $100,000 |
Colorado Springs, CO PURPOSE: Program Services | $60,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Legacy Institute has recieved totaling $80,000.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $55,000 |
The Joseph Henry Edmondson Foundation Colorado Springs, CO PURPOSE: UNIVERSAL PRESCHOOL INITIATIVE | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robert B Daugherty Foundation Omaha, NE | $895,599,209 | $80,372,150 |
American Charter Schools Foundation Phoenix, AZ | $87,939,377 | $45,500,400 |
Foundation For Educational Services Inc Lincoln, NE | $9,496,243 | $19,971,650 |
Institute For Supply Management Inc Tempe, AZ | $18,812,365 | $12,909,076 |
Envision Xpress Inc Wichita, KS | $21,582,294 | $13,602,741 |
Nmc Inc Los Alamos, NM | $8,318,653 | $11,151,295 |
Kansas State Newman Foundation Manhattan, KS | $3,619,556 | $4,925,097 |
Foundation For Tulsa Schools Tulsa, OK | $13,402,243 | $11,567,047 |
Los Alamos National Laboratory Foundation Espanola, NM | $121,206,991 | $6,734,322 |
Friends Of Guadalupe Salt Lake City, UT | $991,216 | $160,574 |
Rockley Family Foundation Inc Golden, CO | $1,094,070 | $6,767,758 |
Castle Rock Lifelong Learning Center Castle Rock, CO | $14,698,293 | $9,801,652 |