The Legacy Project Inc

EIN: 541771178 501(c)(3) Arts, Culture & Humanities

Lynchburg, VA

Total Revenue
$57,462
Total Expenses
$81,335
Total Assets
$637,959
Net Assets
$588,106
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1995
Legal Domicile
VA
Principal Officer
Valeria Chambers
Phone
4348453455
Tax Period
2023-01-01 to 2023-12-31

The Legacy Project Inc, founded in 1995, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $57K in total revenue in fiscal year 2023. Revenue decreased 19% compared to the prior year. Expenses of $81K exceeded revenue, resulting in a 42% operating deficit.

Mission

To collect, preserve and store historical artifacts, documents and memorabilia relating to significant contributions of the African American Community in Lynchburg and its environs.

Program Service Accomplishments

Program 1
Expenses: $46,398 Revenue: $0

Rehabilitated two 100 year old houses into modern buildings and museum. Collected photos, artifacts, and documents for rotating exhibitions and programs on all aspects of local African American...

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Rehabilitated two 100 year old houses into modern buildings and museum. Collected photos, artifacts, and documents for rotating exhibitions and programs on all aspects of local African American history and culture. The number of visitors to the museum in 2023 was 500.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $33,537
Program Service Revenue $85
Investment Income $10,984
Other Revenue $12,856
TOTAL REVENUE $57,462

Expense Breakdown

Grants Paid $0
Salaries & Benefits $17,851
Fundraising Expenses $156
Program Expenses $46,398
Other Expenses $63,484
TOTAL EXPENSES $81,335

Year-over-Year Comparison

2023 2022 Change
Revenue $57,462 $70,712 -0.2%
Expenses $81,335 $55,808 +0.5%
Net Income $-23,873 $14,904 -2.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
16
Independent Members
16
Employees
1
Volunteers
22

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
5
$0
Total Directors
17
$16,540
Key Employees
1
$16,540
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Mrs Joyce Dixon Director 1.00
Director
$0 $0 $0
Ms Valeria P Chambers President & Director 6.00
Officer Director
$0 $0 $0
Ms Ramona Battle Director 6.00
Director
$0 $0 $0
Mrs Mary Canody Corresponding Sec. & Director 6.00
Officer Director
$0 $0 $0
Mr Donald Preston Director 1.00
Director
$0 $0 $0
David B Neumeyer Esq Recording Sec. & Director 4.00
Officer Director
$0 $0 $0
Rev Phillip Brown Director 1.00
Director
$0 $0 $0
Mrs Phyllistine Mosley Vice President & Director 1.00
Officer Director
$0 $0 $0
Mr Mark Spain Director 1.00
Director
$0 $0 $0
Ms Elaine Duke Director 1.00
Director
$0 $0 $0
Ms Yvette Harris Director 1.00
Director
$0 $0 $0
Mr Keita Rodgers Director 1.00
Director
$0 $0 $0
Ms Felicia West Treasurer & Director 3.00
Officer Director
$0 $0 $0
Mrs Toni Pate Director 1.00
Director
$0 $0 $0
Dr Tywanna Whorley Director 1.00
Director
$0 $0 $0
Ms Talea D Teasley Executive Director 15.00
Director Key Emp
$16,540 $0 $16,540
Mrs Fumiko Radile Director 1.00
Director
$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
2023 $57,462 $81,335 $637,959 $-23,873
2022 $70,712 $55,808 $641,162 $14,904
2021 $67,994 $66,397 $686,304 $1,597
2020 $99,068 $68,637 $659,490 $30,431
2019 $42,640 $63,979 $617,233 $-21,339
2018 $34,787 $55,193 $612,854 $-20,406
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