OVM'S LEGUM LEGACY CHARITY

EIN: 842294797 501(c)(3) Philanthropy & Grantmaking

VIRGINIA BEACH, VA

Total Revenue
$45,046
Total Expenses
$68,200
Total Assets
$6,638
Net Assets
$-711
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
VA
Principal Officer
ADAM NEWMAN
Phone
7576050500
Tax Period
2023-01-01 to 2023-12-31

OVM'S LEGUM LEGACY CHARITY, founded in 2019, is a micro nonprofit in the Philanthropy & Grantmaking sector that reported $45K in total revenue in fiscal year 2023. Revenue fell 81% from the prior year — a significant decline worth monitoring. Expenses of $68K exceeded revenue, resulting in a 51% operating deficit.

Mission

THE OVM'S LEGUM LEGACY CHARITY WAS BORN OUT OF THE IDEA OF PROVIDING A PLATFORM OF CHARITABLE CONTRIBUTIONS AND COMMUNITY INVOLVEMENT FOR ALL OVM FINANCIAL EMPLOYEES, REFERRAL PARTNERS AND CLIENTS. OVM HAS A LONGSTANDING TRADITION OF COMMUNITY GENEROSITY AND THIS CHARITY WILL ALLOW THE COMPANY TO ENCOURAGE MORE INCLUSION THROUGHOUT ALL AREAS OF THE ORGANIZATION. AARON ARCHER LEGUM, ONE OF OVM'S FOUNDERS, WAS ALSO A STAUNCH BELIEVER IN GIVING AND SHARING WITH THOSE IN NEED. THE COMBINED BELIEFS AND WISHES OF AARON AND OVM WILL BE SHARED, IN GREATER A CAPACITY WITH THE CREATION OF THE OVM LEGUM LEGACY CHARITY.

Program Service Accomplishments

Program 1
Expenses: $6,606

SUPPORT LOCAL CHARITIES THROUGH CHARITABLE GIVING AND VOLUNTEER SERVICES

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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 $0
Program Service Revenue $0
Investment Income $0
Other Revenue $45,046
TOTAL REVENUE $45,046

Expense Breakdown

Grants Paid $6,606
Salaries & Benefits $0
Fundraising Expenses $57,071
Program Expenses $6,606
Other Expenses $61,594
TOTAL EXPENSES $68,200

Year-over-Year Comparison

2023 2022 Change
Revenue $45,046 $237,816 -0.8%
Expenses $68,200 $219,905 -0.7%
Net Income $-23,154 $17,911 -2.3%
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

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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
N/A
Volunteers
20

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
4
$0
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATTHEW BECKWITH BOARD MEMBER N/A
Director
$0 $0 $0
WILLIAM CORNWELL TREASURER N/A
Officer Director
$0 $0 $0
FRANCIS SIMKINS III BOARD MEMBER N/A
Director
$0 $0 $0
LARRY LEGUM BOARD MEMBER N/A
Director
$0 $0 $0
NICOLE LEGUM SECRETARY N/A
Officer Director
$0 $0 $0
KIMBERLY MARKHAM VICE PRESIDE N/A
Officer Director
$0 $0 $0
ADAM NEWMAN PRESIDENT N/A
Officer 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 No data No data No data No data
2023 $45,046 $68,200 $6,638 $-23,154
2022 $237,816 $219,905 $27,608 $17,911
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