LEGACY III INC (EIN 341824527) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

DARNELLA CUMMINGS

Phone

3303750071

Tax Period

2023-01-01 to 2023-12-31

LEGACY III INC, founded in 1996, is a small nonprofit in the Human Services sector that reported $790K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year.

Mission

LEGACY III EXISTS TO PROVIDE SUPPORTIVE HOUSING SERVICES TO HOMELESS WOMEN IN SUMMIT COUNTY WHO ARE RECOVERING FROM CHRONIC SUBSTANCE ABUSE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $713,079

Program Service Revenue $46,031

Investment Income $2,221

Other Revenue $28,348

TOTAL REVENUE $789,679

Expense Breakdown

Grants Paid $181,992

Salaries & Benefits $487,246

Fundraising Expenses $95

Program Expenses $616,947

Other Expenses $146,413

TOTAL EXPENSES $815,651

Year-over-Year Comparison

	2023	2022	Change
Revenue	$789,679	$841,572	-0.1%
Expenses	$815,651	$868,120	-0.1%
Net Income	$-25,972	$-26,548	0.0%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$137,360

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DARNELLA CUMMINGS	CEO (THRU 3/	40.00	Officer	$137,360	$0	$137,360
TRACY COBLE	DIRECTOR	1.00	Director	$0	$0	$0
LATONIA HAMILTON	DIRECTOR	1.00	Director	$0	$0	$0
LORETTA HARLAND	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER KABOTH	TREASURER	2.00	Officer Director	$0	$0	$0
MELISSA MASSEY-FLINN	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES SHORT SR	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
JACQUELINE THOMASON	PRESIDENT	4.00	Officer Director	$0	$0	$0
MARY WILLIAMS	SECRETARY	2.00	Officer Director	$0	$0	$0
SHELDON WRICE	DIRECTOR	1.00	Director	$0	$0	$0
DOMINIQUE WILKES	CEO (FROM 3/	40.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$789,679	$815,651	$1,175,306	$-25,972
2022	$841,572	$868,120	$1,221,350	$-26,548
2021	$859,288	$838,302	$1,306,392	$20,986
2020	$780,360	$753,611	$1,335,344	$26,749
2019	$778,464	$731,691	$1,283,708	$46,773
2018	$709,216	$678,040	$1,271,902	$31,176

LEGACY III INC