Living Legacy Foundation
- Assets
- $129.5m
- Revenue
- $9.6m
- Investments
- $118.9m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 09/2018
- Data as of
- 12/2020
- EIN
- 82-3829140
Organization Overview
Living Legacy Foundation is located in Wilmington, DE. 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. Living 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 12/2020, Living Legacy Foundation generated $9.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (59.5%) each year. All expenses for the organization totaled $12.6m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Living Legacy Foundation has awarded 235 individual grants totaling $41,836,637. 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 |
|---|---|---|---|
Richard L Hutcheson Jr Vp, Sec | 40 | $196,560 | |
Alisha Ballard Vp, Dir, Treas | 40 | $228,094 | |
Heather Hutcheson VP | 40 | $165,210 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ubs Financial Services | 12/30/21 | $249,049 |
Corient Capital Partners Llc | 12/30/21 | $79,542 |
Foundation Source | 12/30/21 | $166,900 |
Fidelity | 12/30/21 | $142,677 |
Merrill Lynch | 12/30/21 | $96,729 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $25,427 |
| Dividends & Interest | $2,935,493 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,579,920 |
| Capital Gain Net Income | $12,619,548 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $36,384 |
| Total Revenue | $9,577,224 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $738,449 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $143,477 |
| Interest | $655 |
| Taxes | $69,583 |
| Depreciation | $0 |
| Occupancy | $83,775 |
| Travel, conferences, and meetings | $10,142 |
| Printing and publications | $397 |
| Other expenses | $279,972 |
| Total operating and administrative expenses | $1,982,178 |
| Contributions, gifts, grants paid | $10,588,060 |
| Total expenses and disbursements | $12,570,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,573,294 |
| Net Accounts receivable | $550 |
| 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 | $6,323,869 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $45,000 |
| Total assets | $129,501,628 |
| 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, Living Legacy Foundation has awarded $15,270,465 in support to 61 organizations.
| Grant Recipient | Amount |
|---|---|
Newport Beach, CA PURPOSE: LEGACY FOUNDATION DONOR ADVISED FUND | $1,900,000 |
Newport Beach, CA PURPOSE: LEGACY FOUNDATION DONOR ADVISED FUND | $1,400,000 |
Midland, MI PURPOSE: MISSION ACTIVATION COSTA RICA | $1,078,174 |
Beverly Hills, CA PURPOSE: GENERAL & UNRESTRICTED | $800,000 |
Midland, MI PURPOSE: YOUTH MUSIC/ARTS PROGRAM | $521,291 |
Los Angeles, CA PURPOSE: GENERAL & UNRESTRICTED | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Walder Family Foundation Wilmington, DE | $215,951,796 | $11,130,940 |
Maguire Foundation West Conshohocken, PA | $0 | $10,846,953 |
Mabel Pew Myrin Trust Philadelphia, PA | $417,886,148 | $39,075,922 |
Max Stenbeck Foundation Wilmington, DE | $3,203,232 | $39,728,528 |
Neubauer Family Foundation Philadelphia, PA | $348,008,962 | $28,614,405 |
Quantitative Foundation Philadelphia, PA | $101,541,098 | -$10,401,387 |
J N Pew Jr Charitable Trust Philadelphia, PA | $309,649,040 | $25,152,087 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
Crystal Trust Ua Dtd 12-25-47 Irenee Dupont Jr Ttee Montchanin, DE | $288,226,063 | $32,506,410 |
Morgridge Family Foundation Wilmington, DE | $205,419,134 | $22,580,458 |