L&k Legacy Foundation
- Assets
- $1.5m
- Revenue
- $36.4k
- Investments
- $632.4k
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 09/2018
- Data as of
- 12/2021
- EIN
- 82-3273690
Organization Overview
L&k Legacy Foundation is located in Nashville, TN. The organization was established in 2018. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, 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. L&k 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 12/2021, L&k Legacy Foundation generated $36.4k 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 (51.9%) each year.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY YOUTH & WOMEN'S
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derrick Morgan Trustee | 5 | $0 | |
Charity Morgan Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $8,234 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $28,187 |
| Capital Gain Net Income | $28,187 |
| Net ST Capital Gain | $3,434 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $36,421 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $17,290 |
| Total operating and administrative expenses | $17,290 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $17,290 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $417 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $907,125 |
| Other assets | $0 |
| Total assets | $1,539,901 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, L&k Legacy Foundation has awarded $179,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
BETHEL WORLD OUTREACH CHURCH PURPOSE: CHARITABLE DONATION | $100,000 |
Nashville, TN PURPOSE: CHARITABLE DONATION | $25,000 |
Nashville, TN PURPOSE: CHARITABLE DONATION | $25,000 |
Coatesville, PA PURPOSE: CHARITABLE DONATION | $20,000 |
MISCELLANEOUS ORGS PURPOSE: CHARITABLE DONATION | $6,500 |
Denver, CO PURPOSE: CHARITABLE DONATION | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fellowship Foundation Inc Arlington, VA | $7,901,984 | $7,885,643 |
Oakwood Foundation Charitable Tr Tupelo, MS | $13,916,638 | $13,351,239 |
Goodnight Educational Foundation Cary, NC | $149,468,750 | $4,782,379 |
The Hagan Scholarship Foundation Columbia, MO | $259,194,852 | $64,132,818 |
Foundation For A Better World Inc Marietta, GA | $167,606,554 | $6,349,362 |
Reinhart Foundation Richmond, VA | $39,727,277 | $36,137,915 |
Charis Foundation Knoxville, TN | $16,682,566 | $7,998,986 |
Skeebo Foundation Charlotte, NC | $58,827,572 | $60,108,534 |
Grizzard Family Foundation Inc Stone Mountain, GA | $7,597,688 | $166,630 |
Oak Hill Fund Charlottesville, VA | $99,384,131 | $7,166,197 |
Spring Foundation Inc Atlanta, GA | $104,160,284 | -$7,184,259 |
The Scott Hudgens Family Foundation Inc Duluth, GA | $0 | $7,703,530 |