Nonprofit · EIN 84-2874953
LEGACY IMPACT CAPITAL
Tax-exempt · RALEIGH, NC 27612
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $665,940 | $719,321 | -$53,381 | $2,864,760 | $1,540,421 | $1,324,339 |
| December 31, 2023 | 990 | $351,670 | $193,442 | $158,228 | $2,202,636 | $818,399 | $1,384,237 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $645,054
- Investment income
- $20,886
- Net gain from sales of assets
- -$2,824
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $145,767
- Accounting fees
- $7,414
- Travel
- $132
- Depreciation
- $200,646
- Program services (functional)
- $679,565
- Management and general (functional)
- $39,756
Balance sheet and other
- Total assets, start of year
- $2,202,636
- Total assets, end of year
- $2,864,760
- Total liabilities, end of year
- $1,540,421
- Net assets, end of year
- $1,324,339
- Land, buildings and equipment
- $1,516,008
- Publicly traded securities
- $659,368
- Gross receipts
- $1,367,801
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2019
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ANDREW SOWELL | PRESIDENT Officer | 10 | $0 | $61,840 |
| RAYMOND H SOWELL | BOARD CHAIR Trustee or director | 10 | $0 | $0 |
| KEISHA STEVENS | VICE CHAIR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ANDREW SOWELL | PRESIDENT Officer | 10 | $53,295 |
| RAYMOND H SOWELL | BOARD CHAIR Trustee or director | 10 | $0 |
| KEISHA STEVENS | VICE CHAIR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 4810 CRESTMORE RD, RALEIGH, NC 27612-3800
- In care of
- % RAYMOND HOWARD SOWELL
- Mailing address (990-N for 2020)
- PO BOX 12151, RALEIGH NC 27605
- Principal officer (990 for 2024)
- RAYMOND H SOWELL, PO BOX 12151, RALEIGH, NC 27605
- Principal officer (990-N for 2020)
- HOWARD SOWELL, PO BOX 12151, RALEIGH NC 27605
- Signed the 990
- RAYMOND H SOWELL, PRESIDENT
- Phone
- (919) 841-6564
- Return prepared by
- CRI ADVISORS PLLC
Mission
COMMUNITY REDEVELOPMENT THROUGH EXPANSION OF EDUCATION CHOICE, WORKFORCE HOUSING, AND ATTAINABLE SENIOR HOUSING IN COMMUNITIES OF NEED.
Program accomplishments
- COMMUNITY REDEVELOPMENT THROUGH EXPANSION OF EDUCATION CHOICE, WORKFORCE HOUSING, AND ATTAINABLE SENIOR HOUSING IN COMMUNITIES OF NEED.Expenses $679,565 · revenue $665,940
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 84-2874953
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L21)
- Assets (IRS master file)
- $2,864,760
- Income (IRS master file)
- $1,367,801
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $665,940 | $719,321 | $2,864,760 | XML |
| 990 | December 2023 | $351,670 | $193,442 | $2,202,636 | XML |
| 990 | December 2022 | $1,460,133 | $794,325 | $1,226,024 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-N for 2020 Officer: HOWARD SOWELL | December 31, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2019 Officer: HOWARD SOWELL | December 31, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 84-2874953).
Questions about LEGACY IMPACT CAPITAL
- What is the EIN of LEGACY IMPACT CAPITAL?
- The employer identification number (EIN) of LEGACY IMPACT CAPITAL is 84-2874953.
- Is LEGACY IMPACT CAPITAL tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to LEGACY IMPACT CAPITAL tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LEGACY IMPACT CAPITAL file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LEGACY IMPACT CAPITAL due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LEGACY IMPACT CAPITAL last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of LEGACY IMPACT CAPITAL?
- The 990 for the year ended December 31, 2024 names RAYMOND H SOWELL.
- Who are the officers and directors of LEGACY IMPACT CAPITAL?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does LEGACY IMPACT CAPITAL have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $665,940, expenses of $719,321 and total assets of $2,864,760 at year end.
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