Faith Legacy Foundation Inc
Faith Legacy Foundation Inc. reports highly volatile revenue, including a significant negative revenue in 2023, with consistent low expenses and no officer compensation.
EIN: 203481963 · Lafayette, IN · NTEE: X122 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.2M |
| Total Expenses | $70K |
| Program Spending | 80% |
| Net Assets | $2.0M |
| Transparency Score | 65/100 |
Is Faith Legacy Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Faith Legacy Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Faith Legacy Foundation Inc
Faith Legacy Foundation Inc (EIN: 203481963) is a nonprofit organization based in Lafayette, IN, classified under NTEE code X122. The organization reported total revenue of $2.2M and total assets of $3.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Faith Legacy Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Faith Legacy Foundation Inc is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -213.4% | +0.7% | +34.3% |
| 2022 | +46.6% | -9.6% | -11.5% |
| 2021 | +20.9% | +23.6% | +2.1% |
| 2020 | -1.9% | +0.7% | -4.7% |
| 2019 | -2.8% | +0.4% | -0.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1270 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Faith Legacy Foundation Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 80%
- fundraising: 0%
According to IRS 990 filings, Faith Legacy Foundation Inc allocates its expenses as follows: admin: 20%, programs: 80%, fundraising: 0%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- Debt-to-asset ratio: 42.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers, which is a strong positive for minimizing administrative costs.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Faith Legacy Foundation Inc's IRS 990 filings:
- Significant negative revenue reported in 2023 ($-135,811)
- Highly volatile revenue streams over time, making financial planning and sustainability difficult to assess
- Lack of detailed expense breakdown to understand program vs. administrative spending beyond officer compensation
Strengths
The following positive indicators were identified for Faith Legacy Foundation Inc:
- Consistent reporting of 0% officer compensation, indicating low executive overhead
- Maintains substantial assets ($3,146,933 latest, $3,421,662 in 2023) relative to its annual expenses
- Long filing history (13 filings) indicating consistent compliance with IRS reporting requirements
Frequently Asked Questions about Faith Legacy Foundation Inc
Is Faith Legacy Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Faith Legacy Foundation Inc (EIN: 203481963) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Faith Legacy Foundation Inc spend its money?
Faith Legacy Foundation Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Faith Legacy Foundation Inc tax-deductible?
Faith Legacy Foundation Inc is registered as a tax-exempt nonprofit (EIN: 203481963). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Faith Legacy Foundation Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Faith Legacy Foundation Inc is above average for NTEE category X122 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Faith Legacy Foundation Inc located?
Faith Legacy Foundation Inc is headquartered in Lafayette, Indiana and files with the IRS under EIN 203481963. It is classified under NTEE code X122.
How many years of IRS 990 filings does Faith Legacy Foundation Inc have?
Faith Legacy Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.2M in total revenue.
Why did Faith Legacy Foundation Inc. report negative revenue of $-135,811 in 2023?
Negative revenue can occur due to significant returns, adjustments, or losses on investments. Without further detail from the 990 filing, the exact reason is unclear but warrants scrutiny.
What are the primary sources of the organization's highly fluctuating revenue?
The data shows extreme swings, from $2,173,770 in 2015 to $-135,811 in 2023. This suggests reliance on large, infrequent contributions or investment gains/losses rather than consistent operational income.
Given the low reported expenses, what are the main activities or programs Faith Legacy Foundation Inc. undertakes?
With expenses consistently around $60,000-$70,000 in most years, the scale of direct program delivery appears limited relative to the assets held, suggesting a focus on grantmaking or asset management rather than direct service provision.
Filing History
IRS 990 filing history for Faith Legacy Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Faith Legacy Foundation Inc's revenue has declined by 306.6%, moving from $66K to $-135,811. Total assets increased by 246.2% over the same period, from $988K to $3.4M. Total functional expenses rose by 4907.9%, from $1K to $70K. The organization holds $1.4M in liabilities against $3.4M in assets (debt-to-asset ratio: 42.3%), resulting in net assets of $2.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $-135,811 | $70K | $3.4M | $1.4M | — | View 990 |
| 2022 | $120K | $70K | $2.5M | $604K | — | View 990 |
| 2021 | $82K | $77K | $2.9M | $675K | — | View 990 |
| 2020 | $68K | $62K | $2.8M | $652K | — | View 990 |
| 2019 | $69K | $62K | $3.0M | $795K | — | View 990 |
| 2018 | $71K | $62K | $3.0M | $832K | — | View 990 |
| 2017 | $149K | $58K | $3.2M | $1.1M | — | View 990 |
| 2016 | $70K | $58K | $3.1M | $1.1M | — | View 990 |
| 2015 | $2.2M | $1.2M | $3.0M | $1.0M | — | View 990 |
| 2014 | $39K | $8K | $1.0M | $158 | — | View 990 |
| 2013 | $15K | $31K | $1.0M | $40K | — | View 990 |
| 2012 | $49K | $24K | $1.0M | $0 | — | View 990 |
| 2011 | $66K | $1K | $988K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $-135,811, expenses of $70K, and assets of $3.4M (revenue -213.4% year-over-year).
- 2022: Revenue of $120K, expenses of $70K, and assets of $2.5M (revenue +46.6% year-over-year).
- 2021: Revenue of $82K, expenses of $77K, and assets of $2.9M (revenue +20.9% year-over-year).
- 2020: Revenue of $68K, expenses of $62K, and assets of $2.8M (revenue -1.9% year-over-year).
- 2019: Revenue of $69K, expenses of $62K, and assets of $3.0M (revenue -2.8% year-over-year).
- 2018: Revenue of $71K, expenses of $62K, and assets of $3.0M (revenue -52.4% year-over-year).
- 2017: Revenue of $149K, expenses of $58K, and assets of $3.2M (revenue +112.8% year-over-year).
- 2016: Revenue of $70K, expenses of $58K, and assets of $3.1M (revenue -96.8% year-over-year).
- 2015: Revenue of $2.2M, expenses of $1.2M, and assets of $3.0M (revenue +5516.3% year-over-year).
- 2014: Revenue of $39K, expenses of $8K, and assets of $1.0M (revenue +152.0% year-over-year).
- 2013: Revenue of $15K, expenses of $31K, and assets of $1.0M (revenue -68.8% year-over-year).
- 2012: Revenue of $49K, expenses of $24K, and assets of $1.0M (revenue -25.1% year-over-year).
- 2011: Revenue of $66K, expenses of $1K, and assets of $988K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Faith Legacy Foundation Inc:
Data Sources and Methodology
This transparency report for Faith Legacy Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.