Legacy Foundation Inc
Legacy Foundation Inc reports negligible revenue and expenses, indicating inactivity or dormancy.
EIN: 201458794 · Albuquerque, NM · NTEE: T30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $1K |
| Net Assets | $193 |
| Transparency Score | 10/100 |
Is Legacy 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 Foundation Inc
Legacy Foundation Inc (EIN: 201458794) is a nonprofit organization based in Albuquerque, NM, classified under NTEE code T30. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Legacy Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Legacy Foundation Inc is a micro nonprofit that has been operating for 22 years, with 8 years of IRS 990 filings on record (2011–2018).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2018 | -100.0% | -45.6% | -85.8% |
| 2017 | -98.6% | -80.8% | -60.1% |
| 2016 | -65.5% | -39.3% | -53.6% |
| 2015 | +20939.0% | +409.9% | +55.1% |
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 Inc with a Mission Score of 10 out of 100 (Very 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: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Legacy Foundation Inc allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
Executive Compensation Analysis
Officer compensation has consistently been reported as 0% across all filings, suggesting a volunteer-led organization or that the organization is not actively compensating executives, which is appropriate given its minimal financial activity.
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 Foundation Inc's IRS 990 filings:
- Consistent $0 revenue in recent years (e.g., 201812, 201712, 201412, 201312, 201212, 201112)
- Minimal assets ($193 in 201812) indicating lack of financial substance
- Expenses consistently exceeding revenue in most active periods (e.g., 201712: $100 revenue vs. $2,146 expenses; 201612: $7,256 revenue vs. $11,186 expenses)
- Lack of clear programmatic spending due to overall minimal financial activity
Strengths
The following positive indicators were identified for Legacy Foundation Inc:
- Consistent IRS 990 filing history, indicating compliance with reporting requirements
- No reported officer compensation, suggesting a volunteer-driven model or inactivity
Frequently Asked Questions about Legacy Foundation Inc
Is Legacy Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Legacy Foundation Inc (EIN: 201458794) significant concerns. Mission Score: 10/100. 4 red flags identified, 2 strengths noted.
How does Legacy Foundation Inc spend its money?
Detailed spending breakdown data is not yet available for Legacy Foundation Inc. Check back for updated IRS 990 analysis.
Are donations to Legacy Foundation Inc tax-deductible?
Legacy Foundation Inc is registered as a tax-exempt nonprofit (EIN: 201458794). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Legacy Foundation Inc compare to similar nonprofits?
With a transparency score of 10/100 (Very Poor), Legacy Foundation Inc is below average for NTEE category T30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Legacy Foundation Inc located?
Legacy Foundation Inc is headquartered in Albuquerque, New Mexico and files with the IRS under EIN 201458794. It is classified under NTEE code T30.
How many years of IRS 990 filings does Legacy Foundation Inc have?
Legacy Foundation Inc has 8 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
Is Legacy Foundation Inc still operational?
Based on the consistent reporting of $0 revenue and minimal expenses in recent years (e.g., $0 revenue and $1,168 expenses in 201812), it is highly probable that Legacy Foundation Inc is no longer actively operational or is dormant.
What are the primary activities of Legacy Foundation Inc?
The IRS 990 filings do not provide sufficient detail on program service accomplishments, and with negligible revenue and expenses, it's unclear what, if any, primary activities the organization is undertaking.
Why does Legacy Foundation Inc continue to file IRS 990s with no revenue?
Organizations are generally required to file IRS 990 forms annually unless they meet specific exceptions. Continuing to file, even with no revenue, ensures compliance and maintains their tax-exempt status, though it may also indicate a slow process of winding down or a desire to remain legally active.
Filing History
IRS 990 filing history for Legacy Foundation Inc showing financial trends over 8 years of public records:
Total assets decreased by 98.2% over the same period, from $11K to $193. Total functional expenses fell by 82.2%, from $7K to $1K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2018 | $0 | $1K | $193 | $0 | — | View 990 |
| 2017 | $100 | $2K | $1K | $0 | — | — |
| 2016 | $7K | $11K | $3K | $0 | — | View 990 |
| 2015 | $21K | $18K | $7K | $0 | — | View 990 |
| 2014 | $100 | $4K | $5K | $0 | — | View 990 |
| 2013 | $0 | $1K | $8K | $0 | — | View 990 |
| 2012 | $0 | $2K | $9K | $0 | — | View 990 |
| 2011 | $0 | $7K | $11K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2018: Revenue of $0, expenses of $1K, and assets of $193 (revenue -100.0% year-over-year).
- 2017: Revenue of $100, expenses of $2K, and assets of $1K (revenue -98.6% year-over-year).
- 2016: Revenue of $7K, expenses of $11K, and assets of $3K (revenue -65.5% year-over-year).
- 2015: Revenue of $21K, expenses of $18K, and assets of $7K (revenue +20939.0% year-over-year).
- 2014: Revenue of $100, expenses of $4K, and assets of $5K.
- 2013: Revenue of $0, expenses of $1K, and assets of $8K.
- 2012: Revenue of $0, expenses of $2K, and assets of $9K.
- 2011: Revenue of $0, expenses of $7K, and assets of $11K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Legacy Foundation Inc:
Data Sources and Methodology
This transparency report for 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.