Legatus

Nonprofit profile at a glance

EIN
382776542
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Ann Arbor, MI, USA
Phone
7342746400
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Roman Catholic
Affiliation
Christianity

Official website

Reported finances

Revenue
$7,289,730
Expenses
$7,078,351
Assets
$11,431,522
Liabilities
$7,899,259

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

Leadership & pay

20 people listed

Executive titles in this filing

  • Stephen Henley (President)

Highest reported compensation

  • Stephen Henley (President): $317,742 total reported compensation
  • Paul Rzepka (CFO): $191,836 total reported compensation
  • Joseph Giacalone (Account Mgr): $145,725 total reported compensation

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

Overview

Mission

Assist its members (who are leaders of businesses and organizations) to study, live and spread the Catholic Faith in their business, professional and personal lives.

What it reported doing in 2024

Chapter support: Legatus is made up of numerous local chapters. The national office provides staff support, resources, a magazine and assistance with membership.

Operating model

Revenue model
Membership-supported. 62% of the money available for current operations came from membership dues.
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 most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 47
  • Accountability: 95
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.4%; rating input score 67
  • Program expense ratio: 67.8%; rating input score 68
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.9%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 1.61; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.69; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 17.2%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 13.8% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 17.6% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 67.4% of revenue deployed · 67.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $4.8M in reported program spending
  • Leadership: top reported pay $318K · 20 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors, foreign activity, and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • 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 — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.