Legacy Parks Foundation
Legacy Parks Foundation shows consistent revenue growth and strong asset accumulation with no reported officer compensation.
EIN: 204631230 · Knoxville, TN · NTEE: N112 · Updated: 2026-03-28
Is Legacy Parks Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Legacy Parks Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Legacy Parks Foundation
Legacy Parks Foundation (EIN: 204631230) is a nonprofit organization based in Knoxville, TN, classified under NTEE code N112. The organization reported total revenue of $2.7M and total assets of $5.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Legacy Parks Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Legacy Parks Foundation with a Mission Score of 92 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Legacy Parks Foundation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Legacy Parks Foundation consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly commendable for a nonprofit of its size and mission.
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 Parks Foundation:
- Consistent revenue growth, with revenue increasing from $836,512 in 2019 to $2,184,525 in 2023.
- Strong asset accumulation, growing from $1,699,628 in 2019 to $4,684,170 in 2023.
- 0% officer compensation reported across all 14 filings, indicating high efficiency and mission focus.
- Low liabilities relative to assets, demonstrating strong financial solvency ($53,051 liabilities vs. $4,684,170 assets in 2023).
- Healthy surplus generation, with revenue consistently exceeding expenses in recent years (e.g., $2,184,525 revenue vs. $1,221,024 expenses in 2023).
Frequently Asked Questions about Legacy Parks Foundation
Is Legacy Parks Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Legacy Parks Foundation (EIN: 204631230) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Legacy Parks Foundation spend its money?
Legacy Parks Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Legacy Parks Foundation tax-deductible?
Legacy Parks Foundation is registered as a tax-exempt nonprofit (EIN: 204631230). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Legacy Parks Foundation a good charity?
Based on the provided financial data, Legacy Parks Foundation appears to be a very good charity. It demonstrates strong financial health, consistent asset growth, and a remarkable commitment to its mission by reporting 0% officer compensation.
How has Legacy Parks Foundation's financial health changed over time?
Legacy Parks Foundation has shown significant financial growth and improved health over time. Revenue has generally trended upwards, from $836,512 in 2019 to $2,184,525 in 2023, and assets have nearly tripled from $1,699,628 to $4,684,170 in the same period, indicating strong financial management.
What is the organization's approach to executive compensation?
The organization's approach to executive compensation is highly conservative, with 0% officer compensation reported across all 14 available filings. This suggests that officers are either volunteers or compensated through other means not classified as officer compensation, or that the organization prioritizes directing all funds to its mission.
Does Legacy Parks Foundation have significant liabilities?
No, Legacy Parks Foundation does not have significant liabilities. In 2023, liabilities were $53,051, which is a very small fraction of its $4,684,170 in assets, indicating strong financial solvency.
Filing History
IRS 990 filing history for Legacy Parks Foundation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Legacy Parks Foundation's revenue has grown by 377.9%, moving from $457K to $2.2M. Total assets increased by 102.4% over the same period, from $2.3M to $4.7M. Total functional expenses fell by 39.5%, from $2.0M to $1.2M. In its most recent filing year (2023), Legacy Parks Foundation reported a surplus of $964K, with revenue exceeding expenses. The organization holds $53K in liabilities against $4.7M in assets (debt-to-asset ratio: 1.1%), resulting in net assets of $4.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.2M | $1.2M | $4.7M | $53K | — | — |
| 2022 | $1.3M | $814K | $2.8M | $57K | — | View 990 |
| 2021 | $1.0M | $609K | $2.3M | $39K | — | View 990 |
| 2020 | $1.6M | $1.3M | $2.0M | $116K | — | — |
| 2019 | $837K | $643K | $1.7M | $65K | — | View 990 |
| 2018 | $831K | $475K | $1.5M | $1K | — | View 990 |
| 2017 | $771K | $715K | $1.2M | $15K | — | — |
| 2016 | $1.2M | $766K | $1.2M | $32K | — | View 990 |
| 2015 | $652K | $2.2M | $726K | $25K | — | View 990 |
| 2014 | $629K | $1.0M | $2.3M | $38K | — | View 990 |
| 2013 | $1.0M | $733K | $2.6M | $210K | — | View 990 |
| 2012 | $570K | $457K | $2.4M | $249K | — | View 990 |
| 2011 | $581K | $557K | $2.3M | $277K | — | View 990 |
| 2010 | $457K | $2.0M | $2.3M | $323K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.2M, expenses of $1.2M, and assets of $4.7M (revenue +71.6% year-over-year).
- 2022: Revenue of $1.3M, expenses of $814K, and assets of $2.8M (revenue +27.3% year-over-year).
- 2021: Revenue of $1.0M, expenses of $609K, and assets of $2.3M (revenue -36.2% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.3M, and assets of $2.0M (revenue +87.4% year-over-year).
- 2019: Revenue of $837K, expenses of $643K, and assets of $1.7M (revenue +0.7% year-over-year).
- 2018: Revenue of $831K, expenses of $475K, and assets of $1.5M (revenue +7.7% year-over-year).
- 2017: Revenue of $771K, expenses of $715K, and assets of $1.2M (revenue -35.2% year-over-year).
- 2016: Revenue of $1.2M, expenses of $766K, and assets of $1.2M (revenue +82.6% year-over-year).
- 2015: Revenue of $652K, expenses of $2.2M, and assets of $726K (revenue +3.5% year-over-year).
- 2014: Revenue of $629K, expenses of $1.0M, and assets of $2.3M (revenue -38.8% year-over-year).
- 2013: Revenue of $1.0M, expenses of $733K, and assets of $2.6M (revenue +80.7% year-over-year).
- 2012: Revenue of $570K, expenses of $457K, and assets of $2.4M (revenue -1.9% year-over-year).
- 2011: Revenue of $581K, expenses of $557K, and assets of $2.3M (revenue +27.1% year-over-year).
- 2010: Revenue of $457K, expenses of $2.0M, and assets of $2.3M.
Data Sources and Methodology
This transparency report for Legacy Parks Foundation 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.