Civic Intelligence

L & K Legacy Foundation

990PF • Fiscal year 2021 • EIN 82-3273690

Jan 01, 2021 to Dec 31, 2021 • Filed on Mar 10, 2024

Organization Profile
2047 Parker Hollow LaneNolensville, TN 37135

(610) 470-6998

Siviq Scores

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

Liabilities / Assets

31st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

30th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • $1M-$5M nonprofits • Source year 2021

Net Margin

95th percentile

86%

Higher net margin than 95% of similar nonprofits.

2021 filings • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

46th percentile

$0

Higher top officer pay than 46% of similar nonprofits.

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

2021 filings • $1M-$5M nonprofits • Source year 2021

Asset Growth

90th percentile

56%

Faster asset growth than 90% of similar nonprofits.

2021 filings • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

6th percentile

-53%

Faster revenue growth than 6% of similar nonprofits.

2021 filings • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$2,354,587

Up $846,917 (+56%) from 2020

Net Assets

Up

$2,354,587

Up $846,917 (+56%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin95th percentile

Revenue

Down

$50,460

Down $57,342 (-53%) from 2020

Expenses

Down

$7,135

Down $51,384 (-88%) from 2020

Net Income

Down

$43,325

Down $5,958 (-12%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$3.0M$2.0M$1.0M$0Assets 2017: $1,407,809Liabilities 2017: $0Net Assets 2017: $1,407,8092017Assets 2018: $2,318,106Liabilities 2018: $0Net Assets 2018: $2,318,1062018Assets 2019: $1,458,387Liabilities 2019: $0Net Assets 2019: $1,458,3872019Assets 2020: $1,507,670Liabilities 2020: $0Net Assets 2020: $1,507,6702020Assets 2021: $2,354,587Liabilities 2021: $0Net Assets 2021: $2,354,5872021Assets 2022: $2,388,132Liabilities 2022: $0Net Assets 2022: $2,388,1322022Assets 2023: $2,548,866Liabilities 2023: $0Net Assets 2023: $2,548,8662023Assets 2024: $2,396,560Liabilities 2024: $0Net Assets 2024: $2,396,5602024

Highlighted filing

2021

Assets$2,354,587
Liabilities$0
Net Assets$2,354,587
Open 2021 Filing

Operations Trend

Revenue Growth6th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2017: $1,407,809Expenses 2017: $0Net Income 2017: $1,407,8092017Revenue 2018: $1,117,948Expenses 2018: $63,879Net Income 2018: $1,054,0692018Revenue 2019: $40,820Expenses 2019: $933,627Net Income 2019: -$892,8072019Revenue 2020: $107,802Expenses 2020: $58,519Net Income 2020: $49,2832020Revenue 2021: $50,460Expenses 2021: $7,135Net Income 2021: $43,3252021Revenue 2022: $86,924Expenses 2022: $53,379Net Income 2022: $33,5452022Revenue 2023: $191,611Expenses 2023: $30,877Net Income 2023: $160,7342023Revenue 2024: $172,261Expenses 2024: $215,644Net Income 2024: -$43,3832024

Highlighted filing

2021

Revenue$50,460
Expenses$7,135
Net Income$43,325
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Mar 10, 2024
Return Version
2021v4.2
Compensation and Service Providers
Top Officer Pay46th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
DERRICK MORGANTrustee-$0--
CHARITY MORGANTrustee-$0--
Filing and Contact Details

Filer

Filer Name
L & K Legacy Foundation
EIN
82-3273690
Phone
6104706998
Address
2047 PARKER HOLLOW LANE, NOLENSVILLE, TN 37135

Signing Officer

Name
Derrick Morgan
Title
Trustee
Phone
6104706998
Signed
2024-03-10
Discuss with paid preparer
Yes

Preparer

Firm
Kraftcpas Pllc
Address
555 GREAT CIRCLE ROAD, NASHVILLE, TN 37228
Preparer
Eva J Pulley
Phone
6152427351
Raw XML Appendix360 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
GeneralExplanationAttachment/GeneralExplanationGrp/FormAndLineReferenceDesc0LINE 1
GeneralExplanationAttachment/GeneralExplanationGrp/MediumExplanationTxt0L & K LEGACY FOUNDATIONTHE FOUNDATION'S PRIOR ACCOUNTANT PREPARED THE ORIGINAL RETURN AND IT CONSISTED OF ERRORS RELATING TO OVERSTATEMENTS, UNDERSTATEMENTS AND OMISSIONS OF THE FOUNDATION'S ACTIVITY ALONG WITH SEVERAL SCHEDULES THAT WERE EITHER NOT COMPLETED OR COMPLETED INCORRECTLY. BELOW ARE ADJUSTMENTS MADE ON THIS AMENDED RETURN. PAYMENT FOR THE EXCISE TAX AND INTEREST HAVE BEEN PAID.PART I ANALYSIS OF REVENUE AND EXPENSESCOLUMN (C) AND COLUMN (D) WAS NOT COMPLETED CORRECTLY ON THE ORIGINAL RETURN.LINE 1. CONTRIBUTIONS WERE UNDERSTATED IN THE AMOUNT OF $13,100.LINE 4. DIVIDENDS AND INTEREST FROM SECURITIES WERE UNDERSTATED IN THE AMOUNT OF $4,342.LINE 16C. OTHER PROFESSIONAL FEES IN THE AMOUNT OF $4,411 WERE REPORTED ON LINE 23 IN ERROR.LINE 18. TAXES WERE UNDERSTATED IN THE AMOUNT OF $72.LINE 23. OTHER EXPENSES WERE OVERSTATED BY $12,655. LINE 25. CONTRIBUTIONS WERE UNDERSTATED IN THE AMOUNT OF $2,500.PART II BALANCE SHEETSCOLUMN (B) BOOK VALUE DID NOT INCLUDE ALL ASSETS HELD BY THE FOUNDATION AT YEAR END.COLUMN (C) FAIR MARKET VALUE DID NOT INCLUDE ALL ASSETS HELD BY THE FOUNDATION AT YEAR END.PART IV CAPITAL GAINS AND LOSSES FOR TAX ON INVESTMENT INCOMECAPITAL GAINS WERE OVERSTATED IN THE AMOUNT OF $3,403PART V EXCISE TAXTAX WAS UNDERSTATED IN THE AMOUNT OF $28.PART VI-A STATEMENTS REGARDING ACTIVITIESQUESTION 6 ANSWER SHOULD BE YES.QUESTIONS 8 REPORTS TO STATE OF TENNESSEE.PART IX MINIMUM INVESTMENT RETURNTHE ORIGINAL RETURN DID NOT INCLUDE THE AVERAGE MONTHLY VALUE OF ALL ASSETS OWNED BY THE FOUNDATION. THIS VALUE WAS UNDERSTATED IN THE AMOUNT OF $823,400.PART X DISTRIBUTABLE AMOUNTDISTRIBUTABLE AMOUNT WAS UNDERSTATED IN THE AMOUNT $40,524.PART XI QUALIFYING DISTRIBUTIONSDISTRIBUTIONS WERE UNDERSTATED IN THE AMOUNT OF $2,576.PART XII UNDISTRIBUTED INCOMEEXCESS DISTRIBUTIONS CARRYOVER FROM 2019 WAS OVERSTATED IN THE AMOUNT OF $97,288.UNDISTRIBUTED INCOME FROM 2020 WAS OMITTED FROM THE RETURN IN THE AMOUNT OF $30,490.PART XIV GRANTS AND CONTRIBUTIONS PAID DURING THE YEARCHANGES DUE TO AMOUNTS DISCLOSED ABOVE.
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ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,354,587
Liabilities
$0
Net assets
$2,354,587
Revenue
$50,460
Expenses
$7,135
Net income
$43,325
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.40$0.00$2.40$0.17$0.22$0.04
2023Detailed filing. Detailed filing data is available for this year.$2.55$0.00$2.55$0.19$0.03$0.16
2022Detailed filing. Detailed filing data is available for this year.$2.39$0.00$2.39$0.09$0.05$0.03
2021Detailed filing. Detailed filing data is available for this year.$2.35$0.00$2.35$0.05$0.01$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.51$0.00$1.51$0.11$0.06$0.05
2019Detailed filing. Detailed filing data is available for this year.$1.46$0.00$1.46$0.04$0.93$0.89
2018Detailed filing. Detailed filing data is available for this year.$2.32$0.00$2.32$1.12$0.06$1.05
2017Detailed filing. Detailed filing data is available for this year.$1.41$0.00$1.41$1.41$0.00$1.41