Civic Intelligence

Legacy Housing Foundation Inc

990 • Fiscal year 2020 • EIN 81-1934833

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 09, 2021

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

72nd percentile

0.06x

Higher debt load relative to assets than 72% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

74th percentile

0.08x

Higher debt load relative to revenue than 74% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

86th percentile

43%

Higher net margin than 86% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

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.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

80th percentile

50%

Faster asset growth than 80% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

96th percentile

167%

Faster revenue growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$483,906

Up $162,120 (+50%) from 2019

Net Assets

Up

$453,607

Up $167,288 (+58%) from 2019

Liabilities

Down

$30,299

Down $5,168 (-15%) from 2019

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin86th percentile

Revenue

Up

$384,581

Up $240,397 (+167%) from 2019

Expenses

Up

$217,293

Up $26,066 (+14%) from 2019

Net Income

Up

$167,288

Up $214,331 (+456%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth80th 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: $352,898Liabilities 2018: $20,970Net Assets 2018: $331,9282018Assets 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

2020

Assets$483,906
Liabilities$30,299
Net Assets$453,607
Open 2020 Filing

Operations Trend

Revenue Growth96th 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: $212,452Expenses 2018: $277,459Net Income 2018: -$65,0072018Revenue 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

2020

Revenue$384,581
Expenses$217,293
Net Income$167,288
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 9, 2021
Return Version
2020v4.0
Gross Receipts
$384,581
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
Savings and Temporary Cash Investments$263,860$265,049▲ $1,189
Cash and Non-Interest-Bearing Accounts$47,982$210,393▲ $162,411
Prepaid Expenses and Deferred Charges$4,216$4,261▲ $45
Inventories for Sale or Use$5,728$4,203▼ $1,525
Total Assets$321,786$483,906▲ $162,120
Liabilities
Other Liabilities$29,405$25,988▼ $3,417
Accounts Payable and Accrued Expenses$6,062$4,311▼ $1,751
Total Liabilities$35,467$30,299▼ $5,168
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$286,319$453,607▲ $167,288
Total Net Assets Fund Balance$286,319$453,607▲ $167,288
Total Liabilities and Net Assets / Fund Balance$321,786$483,906▲ $162,120
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Abby TinsleyDirector
Carey ParkerDirector
Ceclia WhittingtonDirector
Charles LomaxDirector
Cristy LockwoodDirector
Josh BucknerDirector
Lindsay BrazierDirector
Roger NooeDirector
Will CoulterDirector
Carolyn GilliamDirector/CHA
Kyndra BrewerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$171,488
Program Service Revenue
$0
Investment Income
$213,656
Other Revenue
$-563
All Other Contributions
$171,488
Change in Net Assets
$167,288
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$129,545
Other Expenses$87,748
Total Fundraising Expense$43,931
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$88,871-$20,480$109,351
Other Expenses$23,982$1,179$19,297$19,297
Other Employee Benefits$11,650--$11,650
Occupancy$9,397$1,125$1,125$11,647
Payroll Taxes$6,408-$2,136$8,544
Fees for Services Legal-$7,530-$7,530
Fees for Services Accounting$3,994$2,246$525$6,765
Insurance$5,449$1,065-$6,514
Advertising$4,454$440$28$4,922
Office Expenses$2,120$736-$2,856
Travel$1,824--$1,824
Conferences and Meetings$134$758$129$1,021
Total Functional Expenses$158,283$15,079$43,931$217,293
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$24,222
Kingwood Investment$1,766
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 35% controlled entity
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
2021-11-09

Organization Details

Principal Officer
Carolyn Gilliam
Formed
2016
Legal Domicile
Tn
Voting Board Members
11
Independent Board Members
11
Employees
3

Preparer

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

Additional Explanations

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/ExplanationTxt0TO 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/ExplanationTxt1SECTION 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/ExplanationTxt2DRAFT 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/ExplanationTxt3THE 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 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/WebsiteAddressTxt0LEGACYHOUSINGFOUNDATION.ORG
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CAROLYN GILLIAM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR/CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum08655495530
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-09
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
ReturnHeader/Filer/USAddress/ZIPCd037902
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/PreparationDt02021-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ADRIENNE WEBSTER
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-11-15T18:26:39-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CAROLYN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GILLIAM
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$483,906
Liabilities
$30,299
Net assets
$453,607
Revenue
$384,581
Expenses
$217,293
Net income
$167,288
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.$3.53$0.21$3.32$2.12$2.77$0.65
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