Legacy College Inc

Nonprofit profile at a glance

EIN
811162877
IRS 990-EZ coverage
2020–2024
Forms available
Form 990-EZ 2024
Location
Lynchburg, VA, USA
Phone
4348419999
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$83,990
Expenses
$80,222
Assets
$16,289
Liabilities
$1,419

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

Leadership & pay

5 people listed

People named in this filing

  • DARYL CONNER (CHAIRMAN)
  • BILL DUNTON (BOARD MEMBER)
  • REV JONATHAN SLOCUMB (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Legacy college provides multiple options to produce economic empowerment for individuals that suffer from intergenerational poverty.

What it reported doing in 2024

They do this by providing opportunities for accredited academics with local community colleges, improvement common life skills including money and time management, and career development income.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 82
  • Sustainability: 33
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.4%; rating input score 73
  • Program expense ratio: 76.9%; rating input score 77

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 4.5%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 22.3%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -7.4% per year; rating input score 0; 31st percentile among comparable filings
  • Revenue growth: -2.6% per year; rating input score 0; 41st percentile among comparable filings
  • Asset growth: -14.6% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 73.4% of revenue deployed · 76.9% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $62K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.