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Legacy25 INC FY2023 filing

Tax-deductible

Indianapolis, IN501(c)(3)HousingEIN 83-4059404Revenue $2.1M in FY2023

On file with the IRS8250 Dean Rd, 46240-4907 · Indianapolis, INTax-exempt since Sep 2019Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of Legacy25, INC. Is to foster, promote, develop and provide housing that is safe, decent and affordable to low-income and moderate-income individuals, families and seniors.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $846K a year · 98% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
4494 mo
of spending, in cash
Looks good: 4493.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
+101% vs prior year
Spent
$5K
To programs
0%
Net assets
$3.1M
By yearFY2020–FY2024
Revenue
$2.1M
FY2023▲ +101%
Tap a bar for its year
Revenue by fiscal year
FY2020$39K
FY2021$1K
FY2022$1.0M
FY2023$2.1M
FY2024$1.1M
Expenses
$5K
FY2023▲ +336%
Tap a bar for its year
Expenses by fiscal year
FY2020$4K
FY2021$4K
FY2022$1K
FY2023$5K
FY2024$52K
Net assets
$3.1M
FY2023▲ +196%
Tap a bar for its year
Net assets by fiscal year
FY2020$28K
FY2021$25K
FY2022$1.1M
FY2023$3.1M
FY2024$4.2M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2019.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Management & general 100% · $5K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Julie Minner
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Legacy25 INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides safe, decent, and affordable housing for low-income individuals, families, and seniors.

Provided by the organization

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1 program · in their own filed words · FY2023
01

The mission of LEGACY25, inc. Is to foster, promote, develop and provide housing that is safe, decent and affordable to low-income and moderate-income individuals, families and seniors.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.1M
Ln 12
Gifts and grantsLn 1h$2.0M
Investment incomeLn 3$132K
Money outPt IX
$5K
Ln 25
Managementcol C$5K
Owns and owesPt X
$3.1M
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$3.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0M
Investment incomeLn 3$132K
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$2.0M
Cash and savings togetherLn 1–2$2.0M
InvestmentsLn 11–13$376
Total assetsLn 16$3.1M
LiabilitiesLn 26$0
Net assetsLn 32$3.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$9K$2.0M
InvestmentsLn 11–13$17K$376
Total assetsLn 16$1.1M$3.1M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.1M$3.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$291$291
Accounting feesLn 11c$5K$5K
Total functional expensesLn 25$5K$0$5K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$52K$1.1M$4.2M 990 PDF
FY2023 Viewing $2.1M$5K$2.1M$3.1M 990 PDF
FY2022 $1.0M$1K$1.0M$1.1M 990 PDF
FY2021 $1K$4K−$2K$25K 990 PDF
FY2020 $39K$4K$35K$28K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $2,087,892 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$1,973,090
I-9 Program service revenuePrior year $61,868−$16,866
I-10 Investment incomePrior year $975,096$131,668
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,036,964$2,087,892
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,247$5,441
I-18 Total expensesPrior year $1,247$5,441
I-19 Revenue less expensesPrior year $1,035,717$2,082,451
Part VI · Governance 3 of 3 board members independent, 2 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,087,892 across 4 lines filed
Lines not itemized here account for −$16,866 of total revenue; see the IRS return.
VIII-1d Related organizations$1,973,090
VIII-1h Total contributions, gifts and grants$1,973,090
VIII-3 Investment incomeRelated to mission $131,668$131,668
VIII-12 Total revenueRelated to mission $114,802 · Unrelated business $0 · Excluded from tax $0$2,087,892
Part IX · Statement of functional expenses $5,441 across 2 lines filed
IX-11b Legal feesManagement $291$291
IX-11c Accounting feesManagement $5,150$5,150
IX-25 Total functional expensesPrograms $0 · Management $5,441 · Fundraising $0$5,441
Part X · Balance sheet $3,143,456 assets, 9 lines filed
Asset lines not itemized here account for $1,024,459; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $8,739$2,037,465
X-4 Accounts receivableStart of year $60,024$81,156
X-13 Program-related investmentsStart of year $17,242$376
X-16 Total assetsStart of year $1,061,004$3,143,456
X-17 Accounts payable and accrued expensesStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,061,004$3,143,456
X-32 Total net assets or fund balancesStart of year $1,061,004$3,143,456
X-33 Total liabilities and net assetsStart of year $1,061,004$3,143,456
Part XI · Reconciliation of net assets $3,143,456 net assets at year end
XI-1 Total revenue$2,087,892
XI-2 Total expenses$5,441
XI-3 Revenue less expenses$2,082,451
XI-4 Net assets at start of year$1,061,004
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,143,456

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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