Legacy Endowment Inc

Nonprofit profile at a glance

EIN
204626278
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Overland Park, KS, USA
Phone
9133818055
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support
Affiliation
Christianity

Reported finances

Revenue
$51,381
Expenses
$36,000
Assets
$2,103,627
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Delbert Walls (Director and President)

People named in this filing

  • Delbert Walls (Director and President)
  • Joe Mack (Director and Secretary)
  • Jon Carr (Director)

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

The organization's mission is to manage and grow assets for its parent organization, Legacy Christian Church, for purposes of enhanced ministry.

What it reported doing in 2024

The organization's most significant activity is to act as an endowment fund for its parent, Legacy Christian Church. In this regard, various investments have been made in publicly traded securities and a real estate collateralized loan. These activities are managed through committees which report directly to the organization's board of directors. Management of these activities is carried out by volunteers who receive no remuneration for their services and is part of their ministry for Legacy Christian Church.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.1%; rating input score 70
  • 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 29.9%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 58.43; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 20.7% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: -38.1% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 1.3% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 70.1% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $36K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.