Civic Intelligence

Legacy Housing Foundation Inc

990 • Fiscal year 2018 • EIN 81-1934833

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 24, 2020

Organization ProfileLEGACYHOUSINGFOUNDATION.ORG
900 South Gay Street Ste 2000Knoxville, TN 37902

(865) 549-7441

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

75th percentile

0.06x

Higher debt load relative to assets than 75% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

82nd percentile

0.10x

Higher debt load relative to revenue than 82% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

12th percentile

-31%

Higher net margin than 12% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

27th percentile

-12%

Faster asset growth than 27% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

93rd percentile

100%

Faster revenue growth than 93% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets75th percentile

Assets

Down

$355,751

Down $45,097 (-11%) from 2017

Net Assets

Down

$333,362

Down $63,573 (-16%) from 2017

Liabilities

Up

$22,389

Up $18,476 (+472%) from 2017

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin12th percentile

Revenue

Up

$213,135

Up $106,982 (+101%) from 2017

Expenses

Up

$276,708

Up $85,904 (+45%) from 2017

Net Income

Up

-$63,573

Up $21,078 (+25%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth27th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2016: $481,646Liabilities 2016: $60Net Assets 2016: $481,5862016Assets 2017: $400,848Liabilities 2017: $3,913Net Assets 2017: $396,9352017Assets 2018: $355,751Liabilities 2018: $22,389Net Assets 2018: $333,3622018Assets 2019: $321,786Liabilities 2019: $35,467Net Assets 2019: $286,3192019Assets 2020: $483,906Liabilities 2020: $30,299Net Assets 2020: $453,6072020Assets 2021: $525,834Liabilities 2021: $20,066Net Assets 2021: $505,7682021Assets 2022: $316,402Liabilities 2022: $4,343Net Assets 2022: $312,0592022Assets 2023: $145,659Liabilities 2023: $8,330Net Assets 2023: $137,3292023Assets 2024: $97,022Liabilities 2024: $36,442Net Assets 2024: $60,5802024

Highlighted filing

2018

Assets$355,751
Liabilities$22,389
Net Assets$333,362
Open 2018 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2016: $545,211Expenses 2016: $63,625Net Income 2016: $481,5862016Revenue 2017: $106,153Expenses 2017: $190,804Net Income 2017: -$84,6512017Revenue 2018: $213,135Expenses 2018: $276,708Net Income 2018: -$63,5732018Revenue 2019: $144,184Expenses 2019: $191,227Net Income 2019: -$47,0432019Revenue 2020: $384,581Expenses 2020: $217,293Net Income 2020: $167,2882020Revenue 2021: $288,858Expenses 2021: $236,697Net Income 2021: $52,1612021Revenue 2022: $69,176Expenses 2022: $262,885Net Income 2022: -$193,7092022Revenue 2023: $14,577Expenses 2023: $189,307Net Income 2023: -$174,7302023Revenue 2024: $109,084Expenses 2024: $185,833Net Income 2024: -$76,7492024

Highlighted filing

2018

Revenue$213,135
Expenses$276,708
Net Income-$63,573
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 24, 2020
Return Version
2018v3.2
Gross Receipts
$213,135
Mission and Program Overview

Mission

To improve the quality of life for people in need of affordable housing by developing quality affordable housing and providing a wide range of services and programs to address the social, economic, and physical issues that enable these people to maintain a stable, happy lifestyle.

To provide innovative programs, life enhancing services and strong affordable housing communities for everyone in need

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$398,929$346,832▼ $52,097
Inventories for Sale or Use-$5,197-
Investments in Publicly Traded Securities-$2,103-
Prepaid Expenses and Deferred Charges$1,858$1,619▼ $239
Accounts Receivable$61--
Total Assets$400,848$355,751▼ $45,097
Liabilities
Other Liabilities-$18,515-
Accounts Payable and Accrued Expenses$3,913$3,874▼ $39
Total Liabilities$3,913$22,389▲ $18,476
Net Assets / Fund Balance
Unrestricted Net Assets$396,935$333,362▼ $63,573
Total Net Assets Fund Balance$396,935$333,362▼ $63,573
Total Liabilities and Net Assets / Fund Balance$400,848$355,751▼ $45,097
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Carey ParkerDirector
Charles LomaxDirector
Cristy LockwoodDirector
Lindsay BrazierDirector
Roger NooeDirector
Stephanie HaynesDirector
Carolyn GilliamDirector/CHA
Gayle BustinSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$212,452
Program Service Revenue
$0
Investment Income
$683
Other Revenue
$0
All Other Contributions
$212,452
Change in Net Assets
$-63,573
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$149,421
Salaries, Compensation, and Employee Benefits$127,287
Total Fundraising Expense$43,592
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$58,268$25,244$20,032$103,544
Advertising$31,110$4,452-$35,562
Other Employee Benefits$15,789--$15,789
Fees for Services Legal-$13,080-$13,080
Occupancy$9,381$649-$10,030
Information Technology$7,145$2,038-$9,183
Office Expenses$8,817$347-$9,164
Payroll Taxes$5,966$994$994$7,954
Insurance$3,942$1,315-$5,257
Fees for Services Other$841$3,020-$3,861
Fees for Services Accounting$2,500$1,053-$3,553
Travel$3,251--$3,251
Other Expenses$33,608$160$22,566$160
Conferences and Meetings$76$70-$146
Total Functional Expenses$180,694$52,422$43,592$276,708
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Expenses$17,095
Kingwood Investment$1,420
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI

“Section a - line 2: directors cristy lockwood, carey parker, lindsey brazier and stephanie haynes are employed by lhp capital, llc. Section b - line 15: compensation is fixed by the board and is based on (1) information on compensation paid by similarly situated taxable and/or tax exempt entities for similar positions/services, (2) current compensation surveys compiled by independent employment firms and/or (3) actual written offers from similarly situated organizations. Resolutions approving compensation are recorded along with a listing of the individuals who decided or voted on the compensation as well as any information the board relied on in making the decision. All officers' salaries are approved in advance in accordance with the conflict of interest policy. All compensation is structured to be reasonable and commensurate with the services rendered by the officer or employee.”

Form 990, Page 6, Part VI, Line 11B

“Draft copies of form 990 are provided to the directors and officers for review and approval. Approval is required from all directors & officers prior to filing form 990.”

Form 990, Page 6, Part VI, Line 19

“The governing documents, conflict of interest policy and form 990 are available for public review by appointment at the corporation's office.”

Filing and Contact Details

Filer

Filer Name
Legacy Housing Foundation Inc
EIN
81-1934833
Phone
8655497441
Address
900 SOUTH GAY STREET STE 2000, KNOXVILLE, TN 37902

Signing Officer

Name
Carolyn Gilliam
Title
Director/chair
Phone
8655495530
Signed
2020-10-24

Organization Details

Principal Officer
Carolyn Gilliam
Formed
2016
Legal Domicile
Tn
Voting Board Members
9
Independent Board Members
9
Employees
3
Volunteers
20

Preparer

Firm
Adrienne Webster Ea
Address
1528 HIGHLAND AVE, KNOXVILLE, TN 37916-1410
Preparer
Adrienne Webster
Phone
8655919324
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item B

“Return is being amended to report k-1 income / loss”

FORM 990 - ORGANIZATION'S MISSION

“To improve the quality of life for people in need of affordable housing by developing quality affordable housing and providing a wide range of services and programs to address the social, economic, and physical issues that enable these people to maintain a stable, happy lifestyle.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RETURN IS BEING AMENDED TO REPORT K-1 INCOME / LOSS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO IMPROVE THE QUALITY OF LIFE FOR PEOPLE IN NEED OF AFFORDABLE HOUSING BY DEVELOPING QUALITY AFFORDABLE HOUSING AND PROVIDING A WIDE RANGE OF SERVICES AND PROGRAMS TO ADDRESS THE SOCIAL, ECONOMIC, AND PHYSICAL ISSUES THAT ENABLE THESE PEOPLE TO MAINTAIN A STABLE, HAPPY LIFESTYLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SECTION A - LINE 2: DIRECTORS CRISTY LOCKWOOD, CAREY PARKER, LINDSEY BRAZIER AND STEPHANIE HAYNES ARE EMPLOYED BY LHP CAPITAL, LLC. SECTION B - LINE 15: COMPENSATION IS FIXED BY THE BOARD AND IS BASED ON (1) INFORMATION ON COMPENSATION PAID BY SIMILARLY SITUATED TAXABLE AND/OR TAX EXEMPT ENTITIES FOR SIMILAR POSITIONS/SERVICES, (2) CURRENT COMPENSATION SURVEYS COMPILED BY INDEPENDENT EMPLOYMENT FIRMS AND/OR (3) ACTUAL WRITTEN OFFERS FROM SIMILARLY SITUATED ORGANIZATIONS. RESOLUTIONS APPROVING COMPENSATION ARE RECORDED ALONG WITH A LISTING OF THE INDIVIDUALS WHO DECIDED OR VOTED ON THE COMPENSATION AS WELL AS ANY INFORMATION THE BOARD RELIED ON IN MAKING THE DECISION. ALL OFFICERS' SALARIES ARE APPROVED IN ADVANCE IN ACCORDANCE WITH THE CONFLICT OF INTEREST POLICY. ALL COMPENSATION IS STRUCTURED TO BE REASONABLE AND COMMENSURATE WITH THE SERVICES RENDERED BY THE OFFICER OR EMPLOYEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DRAFT COPIES OF FORM 990 ARE PROVIDED TO THE DIRECTORS AND OFFICERS FOR REVIEW AND APPROVAL. APPROVAL IS REQUIRED FROM ALL DIRECTORS & OFFICERS PRIOR TO FILING FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FORM 990 ARE AVAILABLE FOR PUBLIC REVIEW BY APPOINTMENT AT THE CORPORATION'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt043592
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt052422
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0180694
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03913
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IRS990/TotalProgramServiceExpensesAmt0180694
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0213135
IRS990/TotalVolunteersCnt020
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0355751
IRS990/TravelGrp/ProgramServicesAmt03251
IRS990/TravelGrp/TotalAmt03251
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0396935
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0333362
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IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0LEGACYHOUSINGFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CAROLYN GILLIAM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR/CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum08655495530
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEGACY HOUSING FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0LEGA
ReturnHeader/Filer/EIN0811934833
ReturnHeader/Filer/PhoneNum08655497441
ReturnHeader/Filer/USAddress/AddressLine1Txt0900 SOUTH GAY STREET STE 2000
ReturnHeader/Filer/USAddress/CityNm0KNOXVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
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ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0A42E0CF4B0CFABFAFDAD50D00CF409967B1ADB50
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt052.37.240.203
ReturnHeader/FilingSecurityInformation/IPDt02020-10-30
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm021:14:30
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0274623788
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ADRIENNE WEBSTER EA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01528 HIGHLAND AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0KNOXVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0379161410
ReturnHeader/PreparerPersonGrp/PhoneNum08655919324
ReturnHeader/PreparerPersonGrp/PreparationDt02020-10-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ADRIENNE WEBSTER
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-10-30T21:14:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$355,751
Liabilities
$22,389
Net assets
$333,362
Revenue
$213,135
Expenses
$276,708
Net income
-$63,573
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.97$0.36$0.61$1.09$1.86$0.77
2023Detailed filing. Detailed filing data is available for this year.$1.46$0.08$1.37$0.15$1.89$1.75
2022Detailed filing. Detailed filing data is available for this year.$3.16$0.04$3.12$0.69$2.63$1.94
2021Detailed filing. Detailed filing data is available for this year.$5.26$0.20$5.06$2.89$2.37$0.52
2020Detailed filing. Detailed filing data is available for this year.$4.84$0.30$4.54$3.85$2.17$1.67
2019Detailed filing. Detailed filing data is available for this year.$3.22$0.35$2.86$1.44$1.91$0.47
2018Detailed filing. Detailed filing data is available for this year.$3.56$0.22$3.33$2.13$2.77$0.64
2017Summary only. Only limited summary data is available for this year.$4.01$0.04$3.97$1.06$1.91$0.85
2016Summary only. Only limited summary data is available for this year.$4.82$0.00$4.82$5.45$0.64$4.82