Legacy Redevelopment Corporation
Legacy Redevelopment Corporation (LRC) is a Milwaukee, Wisconsin public charity and community development financial institution that provides financing and technical assistance to small businesses and nonprofit organizations in underserved markets. Its stated service area includes Milwaukee and Racine, and it says it focuses on helping borrowers become bankable and sustainable.
Legacy Redevelopment Corporation at a glance
In short: Legacy Redevelopment Corporation gave $736K across 28 grants in 2024 (avg $26K), mostly in Wisconsin. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $736,436
- +145.5% vs 2023
- Grants made (2024)
- 28
- +86.7% vs 2023
- Average grant
- $26,301
- +31.5% vs 2023
- Median grant
- $15,000
- Total assets
- $11,440,598
- -18.0% vs 2023
- Primary geography
- Wisconsin (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
How to apply to Legacy Redevelopment Corporation
- Contact
Mailing address: 1915 N Martin Luther King Dr 202, Milwaukee, WI 53212
Phone: (414) 343-0163
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from Legacy Redevelopment Corporation
Who Legacy Redevelopment Corporation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Cyndy Johnson LLC ($100K). Together the top 10 received $463K.
Grant Size Distribution
65 grants across all recorded years
The most common grant size was under $50K: 62 grants of 65 (95%).
Geographic Focus
Where this funder awards grants
LRC describes its lending work as serving Milwaukee and Racine, Wisconsin, including underserved markets. Its 2024 reported grant dollars went entirely to Wisconsin recipients, and the listed recipients were in Milwaukee.
Grant Distribution by State
Share of 2024 grant dollars across all 28 itemized grants.
States
Cities
How Legacy Redevelopment Corporation gives
- 0% of 2024 grantees were also funded in 2023. Method
Estimate from itemized grant lists in IRS Form 990 filings (2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $40 (2021) to $736K (2024). In 2024 it made 28 grants totaling $736K.
Hatched bars: grants paid as reported on the IRS filing, which lists no individual grants for that year.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Cyndy Johnson LLC Milwaukee, WI | Small Business Assistance Grant | $100,000 |
| ZDH Holdings LLC Milwaukee, WI | Small Business Assistance Grant | $79,133 |
| Coffee Makes You Black Milwaukee, WI | Small Business Assistance Grant | $62,314 |
| ZIM Knives LLC Milwaukee, WI | Small Business Assistance Grant | $40,000 |
| Favorites LLC Milwaukee, WI | Small Business Assistance Grant | $34,744 |
| Courier Communications Corporation Milwaukee, WI | Small Business Assistance Grant | $34,744 |
| 1700 Pullup LLC Milwaukee, WI | Small Business Assistance Grant | $30,266 |
| I & CJ'S LLC Milwaukee, WI | Small Business Assistance Grant | $28,845 |
| Trilogy Behavioral Health Services Milwaukee, WI | Small Business Assistance Grant | $26,667 |
| African American Chamber of Commerce Milwaukee, WI | Small Business Assistance Grant | $26,436 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $11,440,598 | $2,366,182 | $1,911,924 | $736,436 | 28 | $496,811 |
| 2023 | $13,951,507 | $2,559,769 | $1,365,633 | $300,000 | 15 | $433,347 |
| 2022 | $10,893,308 | $1,699,010 | $1,353,779 | $320,000 | 16 | $408,806 |
| 2021 | $10,634,504 | $972,706 | $808,006 | $40 | Total only | $416,062 |
| 2020 | $10,090,089 | $945,824 | $860,606 | $61,802 | 6 | $365,886 |
"Total only": grants paid as reported on the IRS filing, which lists no individual grants for that year.
Research compiled by Grantable AI from public sources. Last updated September 2026.
Mission & Focus Areas
LRC’s mission, as stated in its 2024 filing, is to enhance neighborhood vitality, facilitate a sustainable and economically diverse community, and build wealth through innovative finance programs in Milwaukee. The filing describes lending and tailored technical assistance for small businesses and nonprofit organizations, with a focus on minority-owned businesses and communities it describes as disadvantaged. LRC reported that over 95% of its loans serve low- to moderate-income communities.
Its website describes financing for small businesses and nonprofits in underserved Milwaukee and Racine markets. Loan uses may include equipment, inventory, limited tenant improvements, and working capital. LRC also offers technical assistance, including guidance on business plans, accounting and record-keeping, licensing, procurement, and succession planning. The organization says technical assistance is required for its loan clients before and after loan closing, and is also available to other businesses.
Grantmaking
LRC reported 28 grants totaling $736,436 in filing year 2024. The grants ranged from $10,000 to $100,000, with a median of $15,000; all reported grant dollars went to recipients in Wisconsin. The filing describes the listed grants as small business assistance grants. LRC also states that some forgivable loans to small businesses may be converted to grants when the established forgiveness criteria are met.
Among the largest reported 2024 grants were $100,000 to CYNDY JOHNSON LLC, $79,133 to ZDH HOLDINGS LLC, and $62,314 to COFFEE MAKES YOU BLACK, all in Milwaukee. Other recipients included ZIM KNIVES LLC ($40,000), FAVORITES LLC ($34,744), and the African American Chamber of Commerce ($26,436), all in Milwaukee. The Chamber describes its own mission as championing the growth and sustainability of African American-owned businesses through access to capital, education, advocacy, capacity building, and partnerships.
LRC lists the José Mantilla Memorial Fund Grant as a currently open program managed by the organization to support businesses in Milwaukee. The program listing does not provide eligibility details. It states a nondiscrimination policy prohibiting discrimination on the basis of race, color, national origin, sex, age, or disability.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Troy L Reese as chair, Marjorie Rucker as secretary, Terese Caro as CEO, and Richard W Lincoln, Nicole L Robbins, Nikki Purvis, Brian Mays, Darian Luckett, and Sally R Peltz as directors.
LRC’s website identifies Terese Caro as President & CEO and Errol Barnett as Chief Lending Officer. It also identifies Lakeytheia Stribling-Dantzler as Administrative Services Officer and Lanaja Lucas as Loan Program Assistant.
Legacy Redevelopment Corporation is led by Terese Caro, CEO since 2024 (on filings since 2020); 1 of 9 officers listed in 2024 is compensated.
Officers on the 2024 filing
Terese Caro
CEO
CEO → Executive Officer, 2023
Executive Officer → CEO, 2024
On filings since 2020
40 hrs/week
$92K (2020) → $125K (2024)
Troy L. Reese
Chair
Director → Chair, 2023
On filings since 2020
1 hr/week
No compensation reported
Richard W. Lincoln
Director
Chair → Director, 2023
On filings since 2020
1 hr/week
No compensation reported
Sally R. Peltz
Director
On filings since 2020
1 hr/week
No compensation reported
Nikki Purvis
Director
On filings since 2021
1 hr/week
No compensation reported
Nicole L. Robbins
Director
On filings since 2022
1 hr/week
No compensation reported
Brian Mays
Director
On filings since 2023
1 hr/week
No compensation reported
Darian Luckett
Director
On filings since 2023
1 hr/week
No compensation reported
Marjorie Rucker
Secretary
Director → Secretary, 2022
On filings since 2021
1 hr/week
No compensation reported
Former officers (8)
- Former: John A. Erich Esq. (2020–2023) — Vice Chair
- Former: Mike Katz (2020–2023) — Executive Treasurer
- Former: George Hinton (2022–2023) — Director
- Former: Abra E. Fortson (2020–2021) — Secretary
- Former: Michael S. D'amato (2020–2021) — Treasurer
- Former: Jose A. Mantilla (2020) — Former CEO
- Former: Louis E. Sibley III (2020) — Director
- Former: Sharon Adams (2020) — Director
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $125K, to Terese Caro (CEO).
Frequently asked questions about Legacy Redevelopment Corporation
How much does Legacy Redevelopment Corporation give each year?
Legacy Redevelopment Corporation gave $736K across 28 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $300K across 15 grants.
What is Legacy Redevelopment Corporation's typical grant size?
Legacy Redevelopment Corporation's median grant in 2024 was $15,000, and its average grant was $26,301, across 28 grants on its 2024 IRS Form 990.
Where does Legacy Redevelopment Corporation give grants?
Legacy Redevelopment Corporation gives mostly in Wisconsin: 100% of the grant dollars itemized on its 2024 IRS Form 990 went to recipients there. The most frequent recipient cities were Racine, WI (16 grants) and Milwaukee, WI (12 grants).
Does Legacy Redevelopment Corporation give general operating support?
Not in 2024: none of the 28 grants with a stated purpose on Legacy Redevelopment Corporation's 2024 IRS Form 990 were described as general or operating support. Recurring purposes include "Small Business Assistance Grant" (28 grants).
Who are Legacy Redevelopment Corporation's largest grantees?
Legacy Redevelopment Corporation's largest 2024 grantees include Cyndy Johnson LLC ($100,000), ZDH Holdings LLC ($79,133) and Coffee Makes You Black ($62,314), according to its 2024 IRS Form 990. Together they received 33% of its itemized 2024 grant dollars.
How large is Legacy Redevelopment Corporation?
Legacy Redevelopment Corporation reported $11.4M in total assets on its 2024 IRS Form 990. Its revenue that year was $2.4M.
What does Legacy Redevelopment Corporation fund?
LRC’s mission, as stated in its 2024 filing, is to enhance neighborhood vitality, facilitate a sustainable and economically diverse community, and build wealth through innovative finance programs in Milwaukee. See mission & focus areas ↑
How do I apply for a grant from Legacy Redevelopment Corporation?
Legacy Redevelopment Corporation has no public application process in the sources Grantable reviewed. Contact the foundation directly before submitting a request.
What is Legacy Redevelopment Corporation's EIN?
Legacy Redevelopment Corporation's EIN (Employer Identification Number) is 31-1724109. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings. Research dossier generated September 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 11, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS November 11, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS October 31, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 17, 2025)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Legacy Redevelopment Corporation funds
Housing & Shelter Open opportunities, soonest deadline first.
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Cite this profile
Grantable. (2026). Legacy Redevelopment Corporation funder profile. GrantGraph. Retrieved October 16, 2026, from https://grantable.co/funders/legacy-redevelopment-corporation-morg_d75917924df941f4abfa3d166bf0e747
BibTeX
@misc{grantable_311724109_2026,
author = {{Grantable}},
title = {{Legacy Redevelopment Corporation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/legacy-redevelopment-corporation-morg_d75917924df941f4abfa3d166bf0e747},
note = {Accessed 2026-10-16. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Legacy Redevelopment Corporation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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