Legacy Collective

Nonprofit profile at a glance

EIN
871730864
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2021
Location
Austin, TX, USA
Phone
5129203755
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Private Grantmaking Foundations

Official website

Reported finances

Revenue
$663,042
Expenses
$830,675
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • ERIN ARNHEIM (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • ERIN ARNHEIM (CHIEF EXECUTIVE OFFICER): $98,498 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Legacy collective works to solve systemic issues by funding the most sustainable, innovative efforts through partnerships with nonprofit organizations locally and globally.

What it reported doing in 2024

The organizations community is made up of individual donors who combine their funds in giving circles. Each giving circle combines their monthly donations to make a bigger impact by voting on and giving grants to thoroughly vetted nonprofits.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 48% for direct work, and 52% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 93
  • Transparency & Controls: 88
  • Accountability: 78
  • Sustainability: 7
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.6%; rating input score 89
  • Fundraising efficiency: $30.11 raised per $1 spent on fundraising; rating input score 68; 68th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 93.2%; rating input score 93; 40th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 23rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -25.3%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 11.9%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: -12.3% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -32.4% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -94.6% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.6% of spending went to programs
  • Governance: 9 of 10 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $736K in reported program spending
  • Leadership: top reported pay $98K · 11 people listed
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 26 filed money-flow records
  • Related organizations: 25 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.