PROJECT LEGACY

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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

2013

Legal Domicile

Principal Officer

DON BALDUS

Phone

5072543387

Tax Period

2023-01-01 to 2023-12-31

PROJECT LEGACY, founded in 2013, is a small nonprofit in the Human Services sector that reported $371K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $435K exceeded revenue, resulting in a 17% operating deficit.

Mission

PROJECT LEGACY PROVIDES HOPE, CONNECTIONS AND SUPPORT TO YOUTH AND YOUNG ADULTS OF COLOR WHO MAY HAVE EXPERIENCED POVERTY, TRAUMA, AND HOMELESSNESS, OR ARE REFUGEES FROM WAR-TORN COUNTRIES AND WHO HAVE NOT HAD A POSITIVE SUPPORT SYSTEM, ALLOWING THEM TO TRANSFORM THEIR LIVES AND BECOME INVOLVED MEMBERS OF OUR COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $339,152 Revenue: $0

LEGACY SCHOLARS IS AN INNOVATIVE PROGRAM DESIGNED TO HELP RETAIN FIRST-GENERATION STUDENTS AND YOUNG ADULTS OF COLOR THROUGH GRADUATION, HELPING PROVIDE SUPPORT, ASSISTANCE AND SKILLS TO CONTRIBUTE TO THEIR EDUCATIONAL SUCCESS. THROUGH SUPPORTING 78 YOUNG PEOPLE IN 2023 THROUGH TUITION AND EDUCATION ASSISTANCE, RENT ASSISTANCE, FOOD, MENTAL HEALTH SERVICES, BASIC NEEDS, RECOVERY SUPPORT AND CASE MANAGEMENT, PROJECT LEGACY CONTINUES OUR MISSION OF PROVIDING HOPE AND OPPORTUNITIES TO YOUNG PEOPLE WILLING TO MAKE THE NECESSARY CHANGES IN THEIR LIVES.PROGRAMMING FOR PARTICIPANTS OF THE LEGACY SCHOLARS PROGRAM INCLUDES: TUITION AND RENT ASSISTANCE EDUCATIONAL ASSISTANCE AND TUTORING MENTAL HEALTH SUPPORT MEALS AND GROCERIES EDUCATIONAL SUPPLIES MENTORSHIP COLLEGE VISITS CAREER PLANNING2023 LEGACY SCHOLARS OUTCOMES INCLUDE:17 COLLEGE DEGREES, TWO HIGH SCHOOL DIPLOMAS AND A GED WERE EARNED BY BIPOC, FIRST-GENERATION STUDENTS.$38,000 WAS INVESTED IN RENTAL ASSISTANCE FOR YOUTH STRUGGLING TO REMAIN IN COLLEGE. $2,000 SUPPORTED YOUTH IN NEED OF MEDICAL AND DENTAL ASSISTANCE$12,000 WAS INVESTED IN THE COST OF GROCERIES AND NOURISHMENT$6,500 WAS INVESTED IN HELPING YOUTH WITH CLOTHING COSTS$9,000 SUPPORTED TELECOMMUNICATIONS COSTS$37,500 WAS INVESTED IN TUITION ASSISTANCE YOUNG PEOPLE AGES 16-24 WHO HAVE GROWN UP IN GENERATIONAL POVERTY AND FACED MULTIPLE BARRIERS ARE ELIGIBLE FOR THIS PROGRAM.

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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 $370,966

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $370,966

Expense Breakdown

Grants Paid $0

Salaries & Benefits $173,981

Fundraising Expenses $0

Program Expenses $339,152

Other Expenses $261,012

TOTAL EXPENSES $434,993

Year-over-Year Comparison

	2023	2022	Change
Revenue	$370,966	$426,636	-0.1%
Expenses	$434,993	$335,766	+0.3%
Net Income	$-64,027	$90,870	-1.7%

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

200

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

$74,063

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DON BALDUS	PRESIDENT	2.00	Officer Director	$0	$0	$0
CAROLE PASTERNAK JD	VICE-PRESIDENT	0.50	Officer Director	$0	$0	$0
LAUREN MAO MBA	TREASURER	2.00	Officer Director	$0	$0	$0
MALACHI JOHNSON	SECRETARY	0.50	Officer Director	$0	$0	$0
SHERRI GILLIGAN MBA	DIRECTOR	0.50	Director	$0	$0	$0
JOHN EDMONDS MSW	DIRECTOR	0.50	Director	$0	$0	$0
NICOLE PIERSON	DIRECTOR	0.17	Director	$0	$0	$0
CHAO MWATELA	DIRECTOR	0.50	Director	$0	$0	$0
SKY SMITH	DIRECTOR	0.50	Director	$0	$0	$0
KAREN EDMONDS	EXECUTIVE DIRECTOR	60.00	Officer	$74,063	$0	$74,063

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	$370,966	$434,993	$58,333	$-64,027
2022	$426,636	$335,766	$116,048	$90,870
2021	$414,221	$511,807	$36,035	$-97,586
2020	$473,169	$478,116	$135,753	$-4,947
2019	$225,762	$327,700	$124,332	$-101,938
2018	$409,597	$203,589	$230,566	$206,008