Legacy Initiatives
Legacy Initiatives shows inconsistent revenue and frequent deficits, with a recent increase in liabilities.
EIN: 204670382 · Lockesburg, AR · NTEE: P20 · Updated: 2026-03-28
Is Legacy Initiatives Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Legacy Initiatives directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Legacy Initiatives
Legacy Initiatives (EIN: 204670382) is a nonprofit organization based in Lockesburg, AR, classified under NTEE code P20. The organization reported total revenue of $77K and total assets of $96K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Legacy Initiatives's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Legacy Initiatives is a micro nonprofit that has been operating for 14 years, with 13 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 4.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $83K |
| Total Expenses | $110K |
| Surplus / Deficit | $-27,627 |
| Total Assets | $108K |
| Total Liabilities | $14K |
| Net Assets | $93K |
| Operating Margin | -33.4% |
| Debt-to-Asset Ratio | 13.3% |
| Months of Reserves | 11.7 months |
Financial Health Grade: B
In 2023, Legacy Initiatives reported a deficit of $28K with expenses exceeding revenue, holds 11.7 months of operating reserves (strong position), has a debt-to-asset ratio of 13.3% (very low leverage).
Financial Trends
Over 13 years of filings (2010–2023), Legacy Initiatives's revenue has grown at a compound annual growth rate (CAGR) of 4.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -16.1% | +48.2% | -22.6% |
| 2021 | +65.9% | +9.8% | +21.0% |
| 2020 | -49.0% | -37.1% | -8.7% |
| 2019 | +77.6% | +70.7% | +10.2% |
| 2018 | -58.6% | -59.8% | -0.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2012 |
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 Initiatives 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: 70%
- fundraising: 10%
According to IRS 990 filings, Legacy Initiatives allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $28K, with expenses exceeding revenue.
- Debt-to-asset ratio: 13.3%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is either unpaid or compensated through other means not classified as officer compensation, which is a positive sign for minimizing administrative overhead relative to its modest size.
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 Initiatives's IRS 990 filings:
- Frequent operating deficits (e.g., $27,627 in 2023, $8,363 in 2020).
- Significant increase in liabilities from $503 in 2021 to $14,317 in 2023.
- Highly inconsistent revenue streams year-over-year, making financial planning challenging.
Strengths
The following positive indicators were identified for Legacy Initiatives:
- Consistent reporting of 0% officer compensation, indicating low executive overhead.
- Long history of IRS 990 filings (13 filings), suggesting a commitment to compliance.
- Maintained a relatively stable asset base despite revenue fluctuations.
Frequently Asked Questions about Legacy Initiatives
Is Legacy Initiatives a legitimate charity?
Based on AI analysis of IRS 990 filings, Legacy Initiatives (EIN: 204670382) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Legacy Initiatives spend its money?
Legacy Initiatives directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Legacy Initiatives tax-deductible?
Legacy Initiatives is registered as a tax-exempt nonprofit (EIN: 204670382). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why did liabilities increase significantly to $14,317 in 2023 from $503 in 2021?
The sudden jump in liabilities in the 2023 filing is a notable change from previous years and could indicate new debt, deferred expenses, or other financial obligations that need further investigation to understand the organization's financial health.
How does Legacy Initiatives manage its operations given frequent deficits, such as the $27,627 deficit in 2023?
Operating at a deficit in multiple years, including a significant one in 2023, suggests the organization may be drawing down reserves, relying on future funding, or experiencing cash flow challenges. Understanding their strategy for covering these shortfalls is crucial.
What is the specific breakdown of program, administrative, and fundraising expenses?
Without a detailed breakdown of expenses beyond total expenses, it's difficult to accurately assess the organization's spending efficiency and how much of each dollar directly supports its mission.
Filing History
IRS 990 filing history for Legacy Initiatives showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2010–2023), Legacy Initiatives's revenue has grown by 76.2%, moving from $47K to $83K. Total assets increased by 7558.9% over the same period, from $1K to $108K. Total functional expenses rose by 78.5%, from $62K to $110K. In its most recent filing year (2023), Legacy Initiatives reported a deficit of $28K, with expenses exceeding revenue. The organization holds $14K in liabilities against $108K in assets (debt-to-asset ratio: 13.3%), resulting in net assets of $93K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $83K | $110K | $108K | $14K | — | — |
| 2021 | $98K | $74K | $139K | $503 | — | — |
| 2020 | $59K | $68K | $115K | $503 | — | — |
| 2019 | $116K | $108K | $126K | $503 | — | View 990 |
| 2018 | $66K | $63K | $114K | $503 | — | View 990 |
| 2017 | $158K | $157K | $115K | $503 | — | View 990 |
| 2016 | $57K | $60K | $114K | $503 | — | View 990 |
| 2015 | $68K | $72K | $119K | $3K | — | View 990 |
| 2014 | $146K | $67K | $121K | $2K | — | View 990 |
| 2013 | $125K | $86K | $45K | $4K | — | View 990 |
| 2012 | $63K | $63K | $10K | $8K | — | View 990 |
| 2011 | $47K | $31K | $9K | $7K | — | View 990 |
| 2010 | $47K | $62K | $1K | $15K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $83K, expenses of $110K, and assets of $108K (revenue -16.1% year-over-year).
- 2021: Revenue of $98K, expenses of $74K, and assets of $139K (revenue +65.9% year-over-year).
- 2020: Revenue of $59K, expenses of $68K, and assets of $115K (revenue -49.0% year-over-year).
- 2019: Revenue of $116K, expenses of $108K, and assets of $126K (revenue +77.6% year-over-year).
- 2018: Revenue of $66K, expenses of $63K, and assets of $114K (revenue -58.6% year-over-year).
- 2017: Revenue of $158K, expenses of $157K, and assets of $115K (revenue +178.3% year-over-year).
- 2016: Revenue of $57K, expenses of $60K, and assets of $114K (revenue -16.8% year-over-year).
- 2015: Revenue of $68K, expenses of $72K, and assets of $119K (revenue -53.3% year-over-year).
- 2014: Revenue of $146K, expenses of $67K, and assets of $121K (revenue +17.4% year-over-year).
- 2013: Revenue of $125K, expenses of $86K, and assets of $45K (revenue +96.4% year-over-year).
- 2012: Revenue of $63K, expenses of $63K, and assets of $10K (revenue +36.2% year-over-year).
- 2011: Revenue of $47K, expenses of $31K, and assets of $9K (revenue -0.7% year-over-year).
- 2010: Revenue of $47K, expenses of $62K, and assets of $1K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Legacy Initiatives:
Data Sources and Methodology
This transparency report for Legacy Initiatives 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.