JAZZ LEGACY FOUNDATION INC

EIN: 461383048 501(c)(3) Arts, Culture & Humanities

Portsmouth, VA

Total Revenue
$1,201,704
Total Expenses
$1,159,777
Total Assets
$57,450
Net Assets
$57,450
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
VA
Tax Period
2023-01-01 to 2023-12-31

JAZZ LEGACY FOUNDATION INC, founded in 2013, is a small nonprofit in the Arts, Culture & Humanities sector that reported $508K in total revenue in fiscal year 2018. Revenue decreased 18% compared to the prior year. Expenses of $580K exceeded revenue, resulting in a 14% operating deficit.

Mission

PRVOIDE CHARITABLE AND EDUCATIONAL PROGRAMS TO ENCOURAGE, PRESERVE AND PROMOTE THE APPRECIATION AND LOVE OF THE ART OF JAZZ

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,201,704
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $1,201,704

Expense Breakdown

Grants Paid $3,173
Salaries & Benefits $66,300
Fundraising Expenses $0
Program Expenses $1,140,084
Other Expenses $1,090,304
TOTAL EXPENSES $1,159,777

Year-over-Year Comparison

2023 2022 Change
Revenue $1,201,704 $1,165,760 +0.0%
Expenses $1,159,777 $847,086 +0.4%
Net Income $41,927 $318,674 -0.9%
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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
3

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
3
$66,300
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JERILYN HORNE TREASURER 0.00
Officer
$47,000 $0 $47,000
ALVIN KEELS BOARD CHAIR 0.00
Officer
$19,300 $0 $19,300
CYNTHIA MELTON DIRECTOR 0.00
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 $1,201,704 $1,159,777 $57,450 $41,927
2019 $665,223 $616,329 $138,246 $48,894
2018 $508,276 $579,874 $46,049 $-71,598
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