Is Legacy Endowment Inc Legit?

Red Flags

Highly volatile revenue, including negative revenue in 2019 ($-47,882) and 2016 ($-24,632), and zero revenue in 2023.
Significant expense of $145,819 in 2023 with $0 revenue, which is a stark contrast to previous years' minimal expenses and warrants further investigation.
Lack of detailed expense breakdown makes it difficult to ascertain true spending efficiency and program allocation beyond high-level figures.

Spending Breakdown

How Legacy Endowment Inc allocates its funds across programs, administration, and fundraising.

90%

Program Spending

Healthy — majority goes to mission

Admin Costs

Reasonable — admin costs in check

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Legacy Endowment Inc

Is Legacy Endowment Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Legacy Endowment Inc (EIN: 204626278) appears trustworthy. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.

Is Legacy Endowment Inc a good charity to donate to?

Legacy Endowment Inc has a Mission Score of 70/100. Revenue: $51K. Assets: $2.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Legacy Endowment Inc?

The Employer Identification Number (EIN) for Legacy Endowment Inc is 204626278. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Legacy Endowment Inc spend its money?

Legacy Endowment Inc allocates 90% to programs, 5% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Legacy Endowment Inc's tax-exempt status?

You can verify Legacy Endowment Inc's tax-exempt status using EIN 204626278 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

Legacy Endowment Inc. appears to be a grant-making or endowment organization, as indicated by its NTEE code X11 and significant asset base of over $2 million. The organization's financial health shows a substantial and growing asset base, increasing from $1,495,918 in 2014 to $2,103,627 currently. However, its revenue has been highly volatile, with negative revenue reported in 2019 and 2016, and zero revenue in 2023. This volatility, coupled with very low reported expenses in most years (e.g., $2,651 in 2022, $755 in 2021), suggests that the organization primarily manages an endowment rather than actively engaging in large-scale programmatic spending or fundraising activities that would incur significant operational costs. The large expense of $145,819 in 2023, despite zero revenue, warrants further investigation to understand its nature.

Spending efficiency is difficult to assess with the provided data, as the reported expenses are extremely low in most years relative to assets and even revenue, suggesting that the primary activity might be investment management rather than direct program delivery. The absence of reported officer compensation across all filings indicates either a volunteer-led structure or that compensation is handled in a way not captured by this specific metric. Transparency is generally good given the consistent filing of IRS Form 990s, but the lack of detailed expense breakdowns makes it challenging to fully understand how funds are utilized beyond the high-level figures.

Verdict: Legacy Endowment Inc appears trustworthy