Civic Intelligence

Legacy Impact Capital

990 • Fiscal year 2024 • EIN 84-2874953

Jan 01, 2024 to Dec 31, 2024 • Filed on Jun 25, 2025

Organization ProfileN/A
4810 Crestmore RdRaleigh, NC 27612

(919) 841-6564

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.54x

Higher debt load relative to assets than 42% of similar nonprofits.

2024 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

46th percentile

2.31x

Higher debt load relative to revenue than 46% of similar nonprofits.

2024 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2024

Net Margin

58th percentile

-8.0%

Higher net margin than 58% of similar nonprofits.

2024 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

51st percentile

$61,840

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 9.3% of source-year revenue.

2024 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2024

Asset Growth

95th percentile

30%

Faster asset growth than 95% of similar nonprofits.

2024 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

94th percentile

89%

Faster revenue growth than 94% of similar nonprofits.

2024 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Up

$2,864,760

Up $1,638,736 (+134%) from 2022

Net Assets

Up

$1,324,339

Up $98,330 (+8.0%) from 2022

Liabilities

Up

$1,540,421

Up $1,540,406 (+10269373%) from 2022

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin58th percentile

Revenue

Down

$665,940

Down $794,193 (-54%) from 2022

Expenses

Down

$719,321

Down $75,004 (-9.4%) from 2022

Net Income

Down

-$53,381

Down $719,189 (-108%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$3.0M$2.0M$1.0M$0Assets 2021: $560,201Liabilities 2021: $0Net Assets 2021: $560,2012021Assets 2022: $1,226,024Liabilities 2022: $15Net Assets 2022: $1,226,0092022Assets 2024: $2,864,760Liabilities 2024: $1,540,421Net Assets 2024: $1,324,3392024

Highlighted filing

2024

Assets$2,864,760
Liabilities$1,540,421
Net Assets$1,324,339
Open 2024 Filing

Operations Trend

Revenue Growth94th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2021: $787,143Expenses 2021: $226,942Net Income 2021: $560,2012021Revenue 2022: $1,460,133Expenses 2022: $794,325Net Income 2022: $665,8082022Revenue 2024: $665,940Expenses 2024: $719,321Net Income 2024: -$53,3812024

Highlighted filing

2024

Revenue$665,940
Expenses$719,321
Net Income-$53,381
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jun 25, 2025
Return Version
2024v5.2
Gross Receipts
$1,367,801
Mission and Program Overview

Mission

Community redevelopment through expansion of education choice, workforce housing, and attainable senior housing in communities of need.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,346,771$1,516,008▲ $169,237
Rtn Earn Endowment Incm Other Fnds$1,384,237$1,324,339▼ $59,898
Investments in Publicly Traded Securities-$659,368-
Cash and Non-Interest-Bearing Accounts$276,877$10,892▼ $265,985
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$2,202,636$2,864,760▲ $662,124
Other Assets Total$578,988$678,492▲ $99,504
Liabilities
Mortgage Notes Payable Secured by Investment Property$817,815$1,540,204▲ $722,389
Other Liabilities$584$217▼ $367
Total Liabilities$818,399$1,540,421▲ $722,022
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,384,237$1,324,339▼ $59,898
Total Liabilities and Net Assets / Fund Balance$2,202,636$2,864,760▲ $662,124

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,516,008$233,494$1,749,502
Other Assets Org$45,250--
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleFull / Part TimeOtherTotal
Andrew SowellPresidentPT$61,840$61,840

Board Members and Trustees

NameTitle
Raymond H SowellBoard Chair
Keisha StevensVice Chair
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$645,054
Investment Income
$20,886
Other Revenue
$0
Change in Net Assets
$-53,381
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$719,321
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$267,460--$267,460
Depreciation Depletion$200,646--$200,646
Fees for Services Legal$145,767--$145,767
Interest-$19,601-$19,601
Advertising$11,199--$11,199
Office Expenses-$9,328-$9,328
Fees for Services Accounting-$7,414-$7,414
Insurance$1,076--$1,076
Other Expenses$1,020$843-$843
All Other Expenses$666--$666
Travel$132--$132
Total Functional Expenses$679,565$39,756$0$719,321
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
Capital One Credit Card$217
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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
No
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

“The president and board chair are brothers.”

Form 990, Part VI, Section B, Line 11B

“The board chair is provided a copy of form 990 to review prior to the return being submitted.”

Form 990, Part VI, Section C, Line 19

“If anyone inquired about viewing form 990 or the governing documents, they would be made available to them during regular business hours.”

Filing and Contact Details

Filer

Filer Name
Legacy Impact Capital
EIN
84-2874953
Phone
9198416564
Address
4810 CRESTMORE RD, RALEIGH, NC 27612

Signing Officer

Name
Raymond H Sowell
Title
President
Phone
9198416564
Signed
2025-06-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Raymond H Sowell
Formed
2019
Legal Domicile
Nc
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
Cri Advisors Pllc
Address
1692 E ARLINGTON BLVD, GREENVILLE, NC 27858
Preparer
Joni L Brooks CPA
Phone
2527562760
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Construction management: program service expenses 112,460. Management and general expenses 0. Fundraising expenses 0. Total expenses 112,460. Management fees: program service expenses 155,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 155,000.”

Raw XML Appendix351 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.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT AND BOARD CHAIR ARE BROTHERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD CHAIR IS PROVIDED A COPY OF FORM 990 TO REVIEW PRIOR TO THE RETURN BEING SUBMITTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IF ANYONE INQUIRED ABOUT VIEWING FORM 990 OR THE GOVERNING DOCUMENTS, THEY WOULD BE MADE AVAILABLE TO THEM DURING REGULAR BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSTRUCTION MANAGEMENT: PROGRAM SERVICE EXPENSES 112,460. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 112,460. MANAGEMENT FEES: PROGRAM SERVICE EXPENSES 155,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 155,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01324339
IRS990/TotalOtherCompensationAmt061840
IRS990/TotalProgramServiceExpensesAmt0679565
IRS990/TotalProgramServiceRevenueAmt0645054
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0665940
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0665940
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02202636
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02864760
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0132
IRS990/TravelGrp/TotalAmt0132
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 12151
IRS990/USAddress/CityNm0RALEIGH
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027605
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RAYMOND H SOWELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09198416564
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-06-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEGACY IMPACT CAPITAL
ReturnHeader/Filer/BusinessNameControlTxt0LEGA
ReturnHeader/Filer/EIN0842874953
ReturnHeader/Filer/PhoneNum09198416564
ReturnHeader/Filer/USAddress/AddressLine1Txt04810 CRESTMORE RD
ReturnHeader/Filer/USAddress/CityNm0RALEIGH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027612
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0994625061
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CRI ADVISORS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01692 E ARLINGTON BLVD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GREENVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027858
ReturnHeader/PreparerPersonGrp/PhoneNum02527562760
ReturnHeader/PreparerPersonGrp/PreparationDt02025-06-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JONI L BROOKS CPA
ReturnHeader/ReturnTs02025-09-15T10:21:45-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$2,864,760
Liabilities
$1,540,421
Net assets
$1,324,339
Revenue
$665,940
Expenses
$719,321
Net income
-$53,381
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.86$1.54$1.32$0.67$0.72$0.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.00$1.23$1.46$0.79$0.67
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.56$0.00$0.56$0.79$0.23$0.56