Legacy La Youth Development Corporation
Legacy La Youth Development Corporation shows strong asset growth but consistent operational deficits in recent years.
EIN: 10960970 · Los Angeles, CA · NTEE: I21 · Updated: 2026-03-28
Is Legacy La Youth Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Legacy La Youth Development Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Legacy La Youth Development Corporation
Legacy La Youth Development Corporation (EIN: 10960970) is a nonprofit organization based in Los Angeles, CA, classified under NTEE code I21. The organization reported total revenue of $4.4M and total assets of $11.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Legacy La Youth Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Legacy La Youth Development Corporation is a mid-size nonprofit that has been operating for 16 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 17.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.1M |
| Total Expenses | $3.2M |
| Surplus / Deficit | $-58,313 |
| Total Assets | $10.4M |
| Total Liabilities | $393K |
| Net Assets | $10.0M |
| Operating Margin | -1.9% |
| Debt-to-Asset Ratio | 3.8% |
| Months of Reserves | 39.0 months |
Financial Health Grade: B
In 2023, Legacy La Youth Development Corporation reported a deficit of $58K with expenses exceeding revenue, holds 39.0 months of operating reserves (strong position), has a debt-to-asset ratio of 3.8% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Legacy La Youth Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 17.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -8.8% | -13.5% | -1.4% |
| 2022 | +43.9% | +60.2% | +149.7% |
| 2021 | +28.5% | +18.6% | -3.8% |
| 2020 | +13.4% | +60.7% | +8.3% |
| 2019 | -24.8% | +61.4% | +45.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2010 |
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 La Youth Development Corporation with a Mission Score of 75 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Legacy La Youth Development Corporation 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 deficit of $58K, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, which is highly unusual for an organization with annual revenues exceeding $3 million and assets over $10 million. This suggests either a fully volunteer executive leadership or that compensation is categorized differently, requiring further clarification for a complete financial picture.
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 La Youth Development Corporation's IRS 990 filings:
- Consistent operational deficits in recent years (e.g., expenses exceeded revenue by $58,313 in 202306 and $255,052 in 202206).
- Unusually high asset growth without corresponding revenue growth to cover recent operational expenses, suggesting reliance on prior reserves or other funding sources.
- 0% reported officer compensation for an organization of this size, which may indicate a lack of transparency if compensation is simply categorized elsewhere.
Strengths
The following positive indicators were identified for Legacy La Youth Development Corporation:
- Significant asset growth over the past decade, from $185,976 in 201406 to $10,373,532 in 202306, indicating strong financial capacity.
- Healthy asset-to-liability ratio, with assets of $10,373,532 and liabilities of $393,143 in 202306, demonstrating strong solvency.
- Consistent revenue generation, with latest reported revenue at $3,134,883, showing ongoing support for its mission.
- Long operating history with 12 IRS 990 filings, indicating stability and established presence.
Frequently Asked Questions about Legacy La Youth Development Corporation
Is Legacy La Youth Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Legacy La Youth Development Corporation (EIN: 10960970) some concerns. Mission Score: 75/100. 3 red flags identified, 4 strengths noted.
How does Legacy La Youth Development Corporation spend its money?
Legacy La Youth Development Corporation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Legacy La Youth Development Corporation tax-deductible?
Legacy La Youth Development Corporation is registered as a tax-exempt nonprofit (EIN: 10960970). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Legacy La Youth Development Corporation a good charity?
Legacy La Youth Development Corporation has demonstrated significant growth in assets and revenue, indicating a strong capacity for impact. However, the consistent operational deficits in recent years (e.g., expenses exceeding revenue by $58,313 in 202306 and $255,052 in 202206) warrant closer examination of their long-term financial sustainability. The reported 0% officer compensation is also a unique factor that could be viewed positively for resource allocation or raise questions about reporting practices.
How does Legacy La Youth Development Corporation fund its operations given the deficits?
The organization has consistently reported expenses exceeding revenue in recent periods (e.g., $3,193,196 expenses vs. $3,134,883 revenue in 202306). This suggests they are either drawing down on accumulated reserves, receiving non-revenue contributions not reflected in the 'revenue' line item, or utilizing other financial strategies to cover the shortfalls. Their substantial asset base of $10,373,532 in 202306 provides a buffer.
What is the significance of 0% officer compensation?
A reported 0% officer compensation for an organization of this size is highly unusual. It could indicate that the executive leadership is entirely volunteer-based, which would be a significant strength in terms of resource allocation to programs. Alternatively, it might mean that executive compensation is reported under other expense categories (e.g., salaries and wages for non-officer staff, or as a contractor expense), which would reduce transparency regarding leadership costs.
Has the organization's financial health improved or declined recently?
Financially, the organization has seen substantial asset growth, from $185,976 in 201406 to $10,373,532 in 202306. Revenue has also grown significantly. However, in the most recent periods (202206 and 202306), expenses have exceeded revenue, indicating a shift from prior periods where revenue often outpaced expenses (e.g., 201906, 201806, 201706). This trend of operational deficits suggests a potential decline in immediate financial health, despite strong asset accumulation.
Filing History
IRS 990 filing history for Legacy La Youth Development Corporation showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Legacy La Youth Development Corporation's revenue has grown by 508.2%, moving from $515K to $3.1M. Total assets increased by 6266.2% over the same period, from $163K to $10.4M. Total functional expenses rose by 628.4%, from $438K to $3.2M. In its most recent filing year (2023), Legacy La Youth Development Corporation reported a deficit of $58K, with expenses exceeding revenue. The organization holds $393K in liabilities against $10.4M in assets (debt-to-asset ratio: 3.8%), resulting in net assets of $10.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.1M | $3.2M | $10.4M | $393K | — | — |
| 2022 | $3.4M | $3.7M | $10.5M | $444K | — | View 990 |
| 2021 | $2.4M | $2.3M | $4.2M | $920K | — | — |
| 2020 | $1.9M | $1.9M | $4.4M | $1.2M | — | View 990 |
| 2019 | $1.6M | $1.2M | $4.0M | $746K | — | View 990 |
| 2018 | $2.2M | $748K | $2.8M | $5K | — | — |
| 2017 | $1.2M | $525K | $1.4M | $11K | — | View 990 |
| 2016 | $809K | $381K | $697K | $4K | — | View 990 |
| 2015 | $537K | $379K | $369K | $105K | — | View 990 |
| 2014 | $328K | $360K | $186K | $86K | — | View 990 |
| 2013 | $492K | $436K | $213K | $81K | — | View 990 |
| 2012 | $515K | $438K | $163K | $86K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.1M, expenses of $3.2M, and assets of $10.4M (revenue -8.8% year-over-year).
- 2022: Revenue of $3.4M, expenses of $3.7M, and assets of $10.5M (revenue +43.9% year-over-year).
- 2021: Revenue of $2.4M, expenses of $2.3M, and assets of $4.2M (revenue +28.5% year-over-year).
- 2020: Revenue of $1.9M, expenses of $1.9M, and assets of $4.4M (revenue +13.4% year-over-year).
- 2019: Revenue of $1.6M, expenses of $1.2M, and assets of $4.0M (revenue -24.8% year-over-year).
- 2018: Revenue of $2.2M, expenses of $748K, and assets of $2.8M (revenue +84.1% year-over-year).
- 2017: Revenue of $1.2M, expenses of $525K, and assets of $1.4M (revenue +46.2% year-over-year).
- 2016: Revenue of $809K, expenses of $381K, and assets of $697K (revenue +50.6% year-over-year).
- 2015: Revenue of $537K, expenses of $379K, and assets of $369K (revenue +63.7% year-over-year).
- 2014: Revenue of $328K, expenses of $360K, and assets of $186K (revenue -33.3% year-over-year).
- 2013: Revenue of $492K, expenses of $436K, and assets of $213K (revenue -4.5% year-over-year).
- 2012: Revenue of $515K, expenses of $438K, and assets of $163K.
Data Sources and Methodology
This transparency report for Legacy La Youth Development Corporation 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.