Legacy Concepts

Nonprofit profile at a glance

EIN
844221900
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Garland, TX, USA
Phone
2146211553
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
Christianity
Affiliation
Christianity

Reported finances

Revenue
$2,083,715
Expenses
$1,148,261
Assets
$3,122,512
Liabilities
$0

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

Leadership & pay

1 person listed

Executive titles in this filing

  • George Hancock (President)

People named in this filing

  • George Hancock (President)

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

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

Overview

Mission

To receive and disburse charitable contributions for ministry services and the furtherance of the Christian Faith.

What it reported doing in 2024

We disburse contributions to various religious and charitable ministry services as approved by our board of directors.

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

MIXED - The filed numbers largely add up and a large share of total spending goes to programs. Some filing-based governance responses are negative or unanswered and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 90
  • Accountability: 6
  • Sustainability: 86
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.1%; rating input score 55
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 44.9%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 2.72; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -28.9% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -13% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 42.9% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 55.1% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 6 of 7 not reported.
  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.