Legacy Place Catawba Valley Inc

Legacy Place Catawba Valley Inc. consistently operates at a deficit, drawing down assets over the past decade.

EIN: 200724481 · Winstonsalem, NC · NTEE: L22 · Updated: 2026-03-28

$293KRevenue

$2.0MAssets

65/100Mission Score (Good)

L22

About Legacy Place Catawba Valley Inc

Legacy Place Catawba Valley Inc (EIN: 200724481) is a nonprofit organization based in Winstonsalem, NC, classified under NTEE code L22. The organization reported total revenue of $293K and total assets of $2.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Legacy Place Catawba Valley Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Legacy Place Catawba Valley Inc. demonstrates consistent financial operations, with revenues generally stable around $240,000-$250,000 annually over the past decade. However, the organization has consistently operated at a deficit, with expenses exceeding revenue in every reported period. For instance, in 2023, revenue was $252,804 while expenses were $313,932, resulting in a deficit of over $61,000. This trend has led to a gradual decline in assets, from $2,796,199 in 2014 to $2,128,877 in 2023, indicating reliance on existing reserves to cover operational costs. The organization reports 0% officer compensation across all filings, which is a positive indicator of volunteer leadership and efficient use of funds for administrative overhead related to executive pay. Transparency appears strong given the consistent filing history and clear financial reporting.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Legacy Place Catawba Valley Inc 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: 80%
fundraising: 0%

According to IRS 990 filings, Legacy Place Catawba Valley Inc allocates its expenses as follows: admin: 20%, programs: 80%, fundraising: 0%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that the organization's officers are likely volunteers or compensated through other means not classified as officer compensation, which is a positive sign for minimizing administrative costs relative to the organization's 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 Place Catawba Valley Inc's IRS 990 filings:

Consistent operational deficits over multiple years (e.g., $61,128 deficit in 2023).
Steady decline in total assets over the past decade (from $2.8M in 2014 to $2.1M in 2023).
Expenses consistently exceed revenue, indicating reliance on reserves.

Strengths

The following positive indicators were identified for Legacy Place Catawba Valley Inc:

No reported officer compensation, indicating volunteer leadership and efficient use of funds for executive pay.
Consistent IRS 990 filing history, demonstrating good transparency.
Stable revenue stream, albeit insufficient to cover expenses.

Frequently Asked Questions about Legacy Place Catawba Valley Inc

Is Legacy Place Catawba Valley Inc. financially sustainable in the long term?

The organization's consistent operational deficits, where expenses exceed revenue (e.g., $313,932 expenses vs. $252,804 revenue in 2023), and the steady decline in assets from $2.8 million in 2014 to $2.1 million in 2023, raise concerns about its long-term financial sustainability without a change in revenue generation or expense management.

What is the primary cause of the asset decline?

The primary cause of the asset decline is the consistent operational deficit. Each year, the organization spends more than it earns, covering the difference by drawing down its existing assets. For example, in 2023, the $61,128 deficit directly contributed to the reduction in assets.

How does the lack of officer compensation impact the organization?

The reported 0% officer compensation suggests that leadership roles are likely filled by volunteers, which significantly reduces administrative overhead and allows more funds to be directed towards programs or other operational needs. This is a strong positive for spending efficiency.

What is the organization's NTEE code and what does it signify?

The NTEE code L22 indicates that Legacy Place Catawba Valley Inc. is involved in 'Housing Development, Construction & Management' specifically for 'Housing for the Elderly'. This clarifies its mission focus within the broader housing sector.

Filing History

IRS 990 filing history for Legacy Place Catawba Valley Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Legacy Place Catawba Valley Inc's revenue has grown by 37.9%, moving from $183K to $253K. Total assets decreased by 30.4% over the same period, from $3.1M to $2.1M. Total functional expenses rose by 14.1%, from $275K to $314K. In its most recent filing year (2023), Legacy Place Catawba Valley Inc reported a deficit of $61K, with expenses exceeding revenue. The organization holds $36K in liabilities against $2.1M in assets (debt-to-asset ratio: 1.7%), resulting in net assets of $2.1M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$253K	$314K	$2.1M	$36K	—	View 990
2022	$257K	$343K	$2.2M	$30K	—	View 990
2021	$248K	$314K	$2.3M	$25K	—	View 990
2020	$243K	$329K	$2.3M	$37K	—	View 990
2019	$244K	$322K	$2.4M	$27K	—	View 990
2018	$245K	$308K	$2.5M	$30K	—	View 990
2017	$241K	$300K	$2.6M	$32K	—	View 990
2016	$231K	$316K	$2.6M	$36K	—	View 990
2015	$223K	$294K	$2.7M	$44K	—	View 990
2014	$228K	$310K	$2.8M	$47K	—	View 990
2013	$203K	$295K	$2.9M	$50K	—	View 990
2012	$185K	$290K	$3.0M	$44K	—	View 990
2011	$183K	$275K	$3.1M	$31K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $253K, expenses of $314K, and assets of $2.1M (revenue -1.4% year-over-year).
2022: Revenue of $257K, expenses of $343K, and assets of $2.2M (revenue +3.4% year-over-year).
2021: Revenue of $248K, expenses of $314K, and assets of $2.3M (revenue +1.9% year-over-year).
2020: Revenue of $243K, expenses of $329K, and assets of $2.3M (revenue -0.3% year-over-year).
2019: Revenue of $244K, expenses of $322K, and assets of $2.4M (revenue -0.3% year-over-year).
2018: Revenue of $245K, expenses of $308K, and assets of $2.5M (revenue +1.8% year-over-year).
2017: Revenue of $241K, expenses of $300K, and assets of $2.6M (revenue +4.2% year-over-year).
2016: Revenue of $231K, expenses of $316K, and assets of $2.6M (revenue +3.8% year-over-year).
2015: Revenue of $223K, expenses of $294K, and assets of $2.7M (revenue -2.4% year-over-year).
2014: Revenue of $228K, expenses of $310K, and assets of $2.8M (revenue +12.3% year-over-year).
2013: Revenue of $203K, expenses of $295K, and assets of $2.9M (revenue +9.8% year-over-year).
2012: Revenue of $185K, expenses of $290K, and assets of $3.0M (revenue +0.9% year-over-year).
2011: Revenue of $183K, expenses of $275K, and assets of $3.1M.

Data Sources and Methodology

This transparency report for Legacy Place Catawba Valley 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.