Legacy Foundation For The Arts Inc
Legacy Foundation For The Arts Inc maintains stable finances with consistent asset growth and no reported officer compensation.
EIN: 200189419 · Overland Park, KS · NTEE: A20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $21K |
| Total Expenses | $8K |
| Program Spending | 80% |
| Net Assets | $76K |
| Transparency Score | 85/100 |
Is Legacy Foundation For The Arts Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Legacy Foundation For The Arts Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Legacy Foundation For The Arts Inc
Legacy Foundation For The Arts Inc (EIN: 200189419) is a nonprofit organization based in Overland Park, KS, classified under NTEE code A20. The organization reported total revenue of $21K and total assets of $84K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Legacy Foundation For The Arts Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Legacy Foundation For The Arts Inc is a micro nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $15K |
| Total Expenses | $8K |
| Surplus / Deficit | +$7K |
| Total Assets | $76K |
| Net Assets | $76K |
| Operating Margin | 46.6% |
| Months of Reserves | 111.8 months |
Financial Health Grade: A
In 2023, Legacy Foundation For The Arts Inc reported a surplus of $7K with revenue exceeding expenses, holds 111.8 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Legacy Foundation For The Arts Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +108.4% | -8.1% | +10.3% |
| 2022 | -40.3% | +21.1% | -18.3% |
| 2021 | -6.9% | -14.7% | +6.2% |
| 2020 | -29.5% | -4.5% | +6.1% |
| 2019 | +44.0% | -15.6% | +14.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Foundation For The Arts Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Legacy Foundation For The Arts Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. 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:
- The organization reported a surplus of $7K, with revenue exceeding expenses.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either entirely volunteer-based or compensated through mechanisms not classified as officer compensation, which is highly favorable for donor perception and resource allocation.
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.
Strengths
The following positive indicators were identified for Legacy Foundation For The Arts Inc:
- Consistent asset growth, from $55,067 in 2015 to $75,847 in 2023, indicating financial stability.
- Zero reported liabilities across all filings, demonstrating strong financial health.
- No reported officer compensation, suggesting efficient use of funds and potentially volunteer leadership.
- Consistent surplus in recent years (e.g., $15,242 revenue vs. $8,138 expenses in 2023).
- Long history of IRS 990 filings (13 filings), indicating transparency and compliance.
Frequently Asked Questions about Legacy Foundation For The Arts Inc
Is Legacy Foundation For The Arts Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Legacy Foundation For The Arts Inc (EIN: 200189419) appears legitimate. Mission Score: 85/100. 0 red flags identified, 5 strengths noted.
How does Legacy Foundation For The Arts Inc spend its money?
Legacy Foundation For The Arts Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Legacy Foundation For The Arts Inc tax-deductible?
Legacy Foundation For The Arts Inc is registered as a tax-exempt nonprofit (EIN: 200189419). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Legacy Foundation For The Arts Inc's spending goes to programs?
Legacy Foundation For The Arts Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Legacy Foundation For The Arts Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Legacy Foundation For The Arts Inc is above average for NTEE category A20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Legacy Foundation For The Arts Inc located?
Legacy Foundation For The Arts Inc is headquartered in Overland Park, Kansas and files with the IRS under EIN 200189419. It is classified under NTEE code A20.
How many years of IRS 990 filings does Legacy Foundation For The Arts Inc have?
Legacy Foundation For The Arts 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 $21K in total revenue.
What specific programs does Legacy Foundation For The Arts Inc operate?
The provided IRS 990 data does not detail specific program activities, only financial figures. Further investigation into their website or program statements would be needed.
How does the organization manage to operate with no reported officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that any compensation is structured in a way that is not categorized as officer compensation on the 990 form.
What is the primary source of Legacy Foundation For The Arts Inc's revenue?
The provided data only shows total revenue figures (e.g., $15,242 in 2023) but does not break down the sources (e.g., donations, grants, program service revenue). This information would typically be found in the full 990 filing.
Filing History
IRS 990 filing history for Legacy Foundation For The Arts Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Legacy Foundation For The Arts Inc's revenue has grown by 20.7%, moving from $13K to $15K. Total assets increased by 47.3% over the same period, from $51K to $76K. Total functional expenses fell by 37.2%, from $13K to $8K. In its most recent filing year (2023), Legacy Foundation For The Arts Inc reported a surplus of $7K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $15K | $8K | $76K | $0 | — | — |
| 2022 | $7K | $9K | $69K | $0 | — | — |
| 2021 | $12K | $7K | $84K | $0 | — | — |
| 2020 | $13K | $9K | $79K | $0 | — | View 990 |
| 2019 | $19K | $9K | $75K | $0 | — | View 990 |
| 2018 | $13K | $11K | $65K | $0 | — | View 990 |
| 2017 | $17K | $13K | $63K | $0 | — | View 990 |
| 2016 | $20K | $16K | $59K | $0 | — | View 990 |
| 2015 | $0 | $0 | $55K | $0 | — | View 990 |
| 2014 | $16K | $21K | $58K | $0 | — | View 990 |
| 2013 | $22K | $16K | $63K | $0 | — | View 990 |
| 2012 | $16K | $11K | $56K | $0 | — | View 990 |
| 2011 | $13K | $13K | $51K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $15K, expenses of $8K, and assets of $76K (revenue +108.4% year-over-year).
- 2022: Revenue of $7K, expenses of $9K, and assets of $69K (revenue -40.3% year-over-year).
- 2021: Revenue of $12K, expenses of $7K, and assets of $84K (revenue -6.9% year-over-year).
- 2020: Revenue of $13K, expenses of $9K, and assets of $79K (revenue -29.5% year-over-year).
- 2019: Revenue of $19K, expenses of $9K, and assets of $75K (revenue +44.0% year-over-year).
- 2018: Revenue of $13K, expenses of $11K, and assets of $65K (revenue -21.7% year-over-year).
- 2017: Revenue of $17K, expenses of $13K, and assets of $63K (revenue -17.5% year-over-year).
- 2016: Revenue of $20K, expenses of $16K, and assets of $59K.
- 2015: Revenue of $0, expenses of $0, and assets of $55K (revenue -100.0% year-over-year).
- 2014: Revenue of $16K, expenses of $21K, and assets of $58K (revenue -25.7% year-over-year).
- 2013: Revenue of $22K, expenses of $16K, and assets of $63K (revenue +36.6% year-over-year).
- 2012: Revenue of $16K, expenses of $11K, and assets of $56K (revenue +27.5% year-over-year).
- 2011: Revenue of $13K, expenses of $13K, and assets of $51K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Legacy Foundation For The Arts Inc:
Data Sources and Methodology
This transparency report for Legacy Foundation For The Arts 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.