Src Living Legacy Foundation

Nonprofit profile at a glance

EIN
843432820
IRS 990 coverage
2020–2025
Forms available
Form 990 2025, Form 990-N 2019
Location
Saratoga, CA, USA
Phone
4087417353
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public, Society Benefit N.E.C.

Official website

Reported finances

Revenue
$439,336
Expenses
$166,938
Assets
$2,312,079
Liabilities
$750

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

People named in this filing

  • PHYLLIS MEYERCORD (DIRECTOR)
  • COLIN WHITBY-STREVENS (TREASURER)
  • WADE MEYERCORD (CHAIRMAN, ASSISTANT TREASU)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To generate resources with which to fund the enrichment of the quality of life within and affiliated with saratoga retirement community. The main activity of the living legacy foundation is to provide educational grants to src employees and their children.

What it reported doing in 2025

Living legacy foundation's educational grant program gives scholarships to anyone who satisfies these two criteria:1) they are an employee of the saratoga retirement community, or a son or daughter of an employee.2.) they have been accepted for a place or are currently working towards a degree in a two year college or a four year university or have been accepted for a place or are currently working on an approved course leading to a certified nursing assistant (cna) qualification and are a student in good standing.the foundation awarded 51 educational grants in 2025.

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 75
  • Accountability: 76
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41.9%; rating input score 42
  • Program expense ratio: 85.5%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 62%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 13.85; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 10.8% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: -8.3% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 21.8% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 41.9% of revenue deployed · 85.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $143K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 42/100.
  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.