Nexstar Legacy Foundation Inc
- Assets
- $1.5m
- Revenue
- $265.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Saint Paul, MN
- Founding
- 12/2006
- Data as of
- 12/2021
- EIN
- 20-3547319
Organization Overview
Nexstar Legacy Foundation Inc is located in Saint Paul, MN. The organization was established in 2006. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nexstar Legacy Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Nexstar Legacy Foundation Inc generated $265.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $242.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION WAS ESTABLISHED FOR CHARITABLE AND EDUCATION PURPOSES. THE FOUNDATION INTENDS TO PROVIDE PUBLIC RESOURCE DEVELOPMENT, SCHOLARSHIPS AND GRANTS FOR BUSINESS AND TECHNICAL TRAINING, AND CAREER COUNSELING AND ADVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S PURPOSE IS TO BRIDGE THE TECHNICAL TALENT GAP IN THE SERVICE TRADES OF PLUMBING, HEATING, COOLING AND ELECTRICAL. DURING 2021, THE FOUNDATION PROVIDED FREE MATERIALS TO EDUCATORS FOR THE PURPOSE OF EDUCATING STUDENTS ABOUT TRADES PROFESSIONS AND FREE KITS OF MATERIALS FOR CONTRACTORS FOR USE IN RECRUITING. THE FOUNDATION ALSO PROVIDED INFORMATION TO THOSE NEW TO THE TRADES ABOUT BECOMING A LICENSED PROFESSIONAL.
EXPLORE THE TRADES PAID FOR FREE ONLINE TECHNICAL TRAINING TO THOSE VETERANS WHO WORKED FOR RESIDENTIAL SERVICE CONTRACTORS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregg D'attile President | OfficerTrustee | 3 | $0 |
Lara Beltz Secretary | OfficerTrustee | 1 | $0 |
Marty Cullen Treasurer | OfficerTrustee | 1 | $0 |
Peggy Hildebrandt Vice President | OfficerTrustee | 1 | $0 |
Monica Ryan Vice President (retired) | OfficerTrustee | 1 | $0 |
Katherine Cinnamo Executive Director | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $139,578 |
| Noncash contributions included in lines 1a–1f | $1,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $139,578 |
| Total Program Service Revenue | $0 |
| Investment income | $36,572 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $40,448 |
| Net Income from Fundraising Events | $49,046 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $265,644 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $78,836 |
| Compensation of current officers, directors, key employees. | $19,709 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,863 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,574 |
| Payroll taxes | $10,780 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,961 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,334 |
| Fees for services: Other | $18,926 |
| Advertising and promotion | $51,992 |
| Office expenses | $5,736 |
| Information technology | $2,071 |
| Royalties | $0 |
| Occupancy | $19,200 |
| Travel | $6,092 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,816 |
| All other expenses | $3,264 |
| Total functional expenses | $242,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,010 |
| Savings and temporary cash investments | $1,427,482 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,119 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,509,611 |
| Accounts payable and accrued expenses | $9,006 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $27,646 |
| Total liabilities | $36,652 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,472,959 |
| Total liabilities and net assets/fund balances | $1,509,611 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Nexstar Legacy Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Raymond Family Foundation Trust Indenture Agreement Portland, OR PURPOSE: TO PROVIDE FINANCIAL ASSISTANCE FOR PRIMARY AND CONTINUING EDUCATION IN TECHNICAL AND BUSINESS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
Northstar Education Finance Inc Eagan, MN | $1,293,468,719 | $40,177,777 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Scholarship America Inc Minneapolis, MN | $219,130,905 | $29,933,482 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Waitt Foundation North Sioux City, SD | $157,175,219 | $6,009,824 |
Team Makers Club Inc Fargo, ND | $24,927,572 | $16,460,437 |
Bentson Foundation Wayzata, MN | $107,689,978 | $6,021,397 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Central States Fair Rapid City, SD | $6,354,015 | $4,358,357 |
Sc Johnson Giving Inc Racine, WI | $34,098,989 | $19,343,102 |