Legacy Educational Foundation Inc
Legacy Educational Foundation Inc reports minimal revenue and zero expenses in recent years, indicating very limited activity.
EIN: 202039788 · Gadsden, AL · NTEE: B12 · Updated: 2026-03-28
Is Legacy Educational Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Legacy Educational Foundation Inc
Legacy Educational Foundation Inc (EIN: 202039788) is a nonprofit organization based in Gadsden, AL, classified under NTEE code B12. The organization reported total revenue of $90 and total assets of $3K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Legacy Educational Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Legacy Educational Foundation Inc is a micro nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -28.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $90 |
| Total Expenses | $0 |
| Surplus / Deficit | +$90 |
| Total Assets | $3K |
| Net Assets | $3K |
| Operating Margin | 100.0% |
Financial Health Grade: A
In 2023, Legacy Educational Foundation Inc reported a surplus of $90 with revenue exceeding expenses.
Financial Trends
Over 13 years of filings (2011–2023), Legacy Educational Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -28.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -5.3% | — | +3.3% |
| 2022 | +171.4% | — | +3.6% |
| 2021 | -78.3% | — | +1.3% |
| 2019 | -100.0% | -92.8% | -1.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Legacy Educational Foundation Inc with a Mission Score of 20 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 0%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Legacy Educational Foundation Inc allocates its expenses as follows: admin: 0%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating no salaries or other compensation paid to executives. This is consistent with its minimal financial activity and zero reported expenses in recent years.
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 Legacy Educational Foundation Inc's IRS 990 filings:
- Zero reported expenses for four consecutive years (2020-2023), suggesting inactivity.
- Declining asset base from $52,092 in 2014 to $2,830 in 2023.
- Extremely low and inconsistent revenue in recent periods.
Strengths
The following positive indicators were identified for Legacy Educational Foundation Inc:
- Consistent filing of IRS Form 990-EZ, indicating compliance with reporting requirements for small organizations.
- No executive compensation reported, aligning with minimal financial activity.
Frequently Asked Questions about Legacy Educational Foundation Inc
Is Legacy Educational Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Legacy Educational Foundation Inc (EIN: 202039788) significant concerns. Mission Score: 20/100. 3 red flags identified, 2 strengths noted.
How does Legacy Educational Foundation Inc spend its money?
Detailed spending breakdown data is not yet available for Legacy Educational Foundation Inc. Check back for updated IRS 990 analysis.
Are donations to Legacy Educational Foundation Inc tax-deductible?
Legacy Educational Foundation Inc is registered as a tax-exempt nonprofit (EIN: 202039788). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Legacy Educational Foundation Inc actively pursuing its mission?
Based on the reported zero expenses for the past four fiscal periods (2020-2023) and very low revenue, it appears the organization has very limited, if any, active programming or operational activities.
What are the primary sources of revenue for Legacy Educational Foundation Inc?
Revenue has been sporadic and very low in recent years, ranging from $35 to $161. The filings do not specify the nature of this minimal revenue, but it is not substantial enough to support significant operations.
How does Legacy Educational Foundation Inc utilize its assets?
With assets declining from $52,092 in 2014 to $2,830 in 2023 and zero reported expenses in recent years, it's unclear how the remaining small asset base is being utilized or if it's simply held without active deployment.
Filing History
IRS 990 filing history for Legacy Educational Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Legacy Educational Foundation Inc's revenue has declined by 98.2%, moving from $5K to $90. Total assets decreased by 97.5% over the same period, from $112K to $3K. Total functional expenses fell by 100%, from $17K to $0.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $90 | $0 | $3K | $0 | — | View 990 |
| 2022 | $95 | $0 | $3K | $0 | — | View 990 |
| 2021 | $35 | $0 | $3K | $0 | — | View 990 |
| 2020 | $161 | $0 | $3K | $0 | — | View 990 |
| 2019 | $0 | $36 | $2K | $0 | — | View 990 |
| 2018 | $2K | $500 | $2K | $0 | — | View 990 |
| 2017 | $0 | $3K | $985 | $0 | — | View 990 |
| 2016 | $500 | $21K | $4K | $0 | — | View 990 |
| 2015 | $0 | $28K | $24K | $0 | — | View 990 |
| 2014 | $0 | $19K | $52K | $0 | — | View 990 |
| 2013 | $0 | $17K | $71K | $0 | — | View 990 |
| 2012 | $0 | $25K | $88K | $0 | — | View 990 |
| 2011 | $5K | $17K | $112K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $90, expenses of $0, and assets of $3K (revenue -5.3% year-over-year).
- 2022: Revenue of $95, expenses of $0, and assets of $3K (revenue +171.4% year-over-year).
- 2021: Revenue of $35, expenses of $0, and assets of $3K (revenue -78.3% year-over-year).
- 2020: Revenue of $161, expenses of $0, and assets of $3K.
- 2019: Revenue of $0, expenses of $36, and assets of $2K (revenue -100.0% year-over-year).
- 2018: Revenue of $2K, expenses of $500, and assets of $2K.
- 2017: Revenue of $0, expenses of $3K, and assets of $985 (revenue -100.0% year-over-year).
- 2016: Revenue of $500, expenses of $21K, and assets of $4K.
- 2015: Revenue of $0, expenses of $28K, and assets of $24K.
- 2014: Revenue of $0, expenses of $19K, and assets of $52K.
- 2013: Revenue of $0, expenses of $17K, and assets of $71K.
- 2012: Revenue of $0, expenses of $25K, and assets of $88K (revenue -100.0% year-over-year).
- 2011: Revenue of $5K, expenses of $17K, and assets of $112K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Legacy Educational Foundation Inc:
Data Sources and Methodology
This transparency report for Legacy Educational 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.