FLOYD COUNTY LEGACY FOUNDATION INC (EIN 833564985) - 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

2019

Legal Domicile

Principal Officer

STEVE BURKS

Phone

8129879065

Tax Period

2024-01-01 to 2024-12-31

FLOYD COUNTY LEGACY FOUNDATION INC, founded in 2019, is a community nonprofit in the Public & Societal Benefit sector that reported $1.5M in total revenue in fiscal year 2024. Revenue surged 75% from the prior year, signaling strong growth momentum. Net assets of $33.3M represent 267 months of operating reserves.

Mission

PROVIDE ENDOWED FUNDS AS A RESOURCE TO HELP MEET COMMUNITY NEEDS AND PROVIDE FOR THOSE CHANGING NEEDS FOR THE FUTURE GENERATIONS BY ENCOURAGING PHILANTHROPIC LEADERSHIP AND FLEXIBLE CHARITABLE OPPORTUNITIES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $1,497,948

Other Revenue $0

TOTAL REVENUE $1,497,948

Expense Breakdown

Grants Paid $1,397,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,498,325

Other Expenses $104,175

TOTAL EXPENSES $1,501,175

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,497,948	$856,845	+0.7%
Expenses	$1,501,175	$1,997,748	-0.2%
Net Income	$-3,227	$-1,140,903	-1.0%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE BURKS	CHAIRMAN	5.00	Officer Director	$0	$0	$0
MATT MILLIES	TRUSTEE	5.00	Director	$0	$0	$0
RAY CHINN	SECRETARY	5.00	Officer Director	$0	$0	$0
BILL WHITE	TRUSTEE	5.00	Director	$0	$0	$0
AL KNABLE	TRUSTEE	5.00	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
2024	$1,497,948	$1,501,175	$33,334,252	$-3,227
2023	$856,845	$1,997,748	$30,755,283	$-1,140,903
2022	$-266,795	$540,659	$28,322,386	$-807,454
2021	$1,100,715	$376,127	$34,092,386	$724,588
2020	$19,751,560	$346,654	$30,722,514	$19,404,906
2019	$8,113,858	$1,491	$9,140,532	$8,112,367

FLOYD COUNTY LEGACY FOUNDATION INC