Nmc Legacy Fund EIN 27-3503738 Form 990 (PDF) Claim this org

Nmc Legacy Fund FY2019 filing

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Provides financial grants to local tax-exempt social service agencies that offer essential programs and services to build healthy, sustainable communities. For fiscal year 2019 it reported $2.9M in revenue, $2.7M in expenses, and $3.5M in net assets.Pt I

Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Victor, CO
Filings
6 on file (2019–2019)
Revenue
$2.9MFY2019
Expenses
$2.7M
Net assets
$3.5M
People
9
Filings
6
Updates
0
More identity details & actions ⌄
EIN  27-3503738 Public foundation / grantmaker Victor, CO
Form 990 (PDF)
You’re viewing the FY2019 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Provides financial grants to local tax-exempt social service agencies that offer essential programs and services to build healthy, sustainable communities.
Leadership
Bill Cox · Director
Money in and out
$2.9M revenue, $2.7M expenses
Bottom line
99% program efficiency
Grants paid & assets · FY2019
Total revenue
$2.9M
Pt VIII · Ln 12
Total expenses
$2.7M
Pt IX · Ln 25
Net assets
$3.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $282K
Where spending went · Part IX cols B–D
Program services $0.99 Management & general $0.01
Program efficiency
99%
of spending reaches programs
Operating runway
18.7mo
months of highly liquid reserves at operating expense rate
Surplus margin
+10%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2019 · Form 990
Revenue
$2.9M
FY2019
Expenses
$2.7M
FY2019
Total assets
$4.1M
FY2019
Total liabilities
$680K
FY2019
Total revenue
$2.9M
Pt VIII · Ln 12
Total expenses
$2.7M
Pt IX · Ln 25
Net assets
$3.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$282K
Total assetsPt X · Ln 16$4.1M
Program-expense ratioPt IX · col B99%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

1 program service account for $2.6M of program spending, described in the organization's own filed words · FY2019.
01

NMC legacy fund makes distributions to tax exempt organizations providing the programs and services essential to healthy, sustainable communities. In 2018 and 2017, NMC distributed $2,635,372 to 394 and $2,146,483, respectively, qualified 501(c)(3) charitable organizations providing a variety of community services.

$2.6Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CNmc Legacy Fund
EINHdr · item D27-3503738
Principal addressHdr · item CVictor, CO
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCO
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T70)
Ruling yearIRS BMFJan 2013

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
See Nmc Legacy Fund executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$2.8M · 96%
Investment income$129K · 4%
Contributions & grants96%$2.8M
Investment income4%$129K
Total revenueLn 12$2.9M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.99 Management & general $0.01
Program services99%$2.6M
Management & general1%$29K
Total functional expensesLn 25$2.7M

Balance Sheet

Part X · end of year
CashLn 1$855K
Total assetsLn 16$4.1M
Total liabilitiesLn 26$680K
Total net assetsLn 32$3.5M
Months of cash on handcomputed3.9

Financial Metrics

Form 990 · FY2019 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $4.1M · Operating expenses/yr $2.7M
18.7 months
Where the money goes
Program services
Program services $2.6M · Total expenses $2.7M
99%
Management & General
Management & general $29K · Total expenses $2.7M
1%
Fundraising
Fundraising $0 · Total expenses $2.7M
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $2.8M
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $2.8M · Total revenue $2.9M
96%
Government reliance
Government grants — · Total revenue $2.9M
Earned-income share
Program service revenue $0 · Total revenue $2.9M
0%
Investment reliance
Investment income $129K · Total revenue $2.9M
+4%
Program self-sufficiency
Program service revenue $0 · Total expenses $2.7M
0%
Growth & trend
Revenue growth (YoY)
This year $2.9M · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $3.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.9M · Expenses $2.7M
+10%
Liabilities-to-Assets
Total liabilities — · Total assets $4.1M
Net-asset ratio
Net assets $3.5M · Total assets $4.1M
84%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $3.3M · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $4.1M
79%
People & payroll
Highest Reported Total Compensation
Individual Bill Cox · Reported title Director · Highest reported compensation $0 · Total expenses $2.7M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $2.7M
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 99%
Overhead ratio 1%
Fundraising cost ratio 0%
Investment management fee ratio 0.5%
Legal fee ratio <0.01%
Accounting fee ratio 0.2%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$191
Grants paid · 142 grants · $2.9M · 2019–2024
Canon City Parks and RecFY2024$13,040
Lakyns Legacy FoundationCO · FY2024$8,606
Universal Ministries of TruthFY2024$6,324
Open Hearts and Open DoorsCO · FY2024$5,050
Pulse ChurchCO · FY2023$9,600
Catalyst ChurchCO · FY2023$7,200
Universal Ministries of TruthFY2022$7,450
Catalyst ChurchCO · FY2022$7,200
See all 142 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$511K revenue · ⤓ 990 PDF
FY2023$370K revenue · ⤓ 990 PDF
FY2022$306K revenue · ⤓ 990 PDF
FY2021$394K revenue · ⤓ 990 PDF
FY2020$382K revenue · ⤓ 990 PDF
FY2019$2.9M revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2019IRS
Classification, formation year, addressIRS Business Master File
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