Legal Momentum

According to the Legal Momentum audit of June 30, 2020 (Note A, The Organization and its Significant Accounting Policies, [11] Revenue recognition, (iv) Donated services):

"During fiscal-years 2020 and 2019, the Organization received $940,860 and $1,110,469 of pro bono legal services, respectively."

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.]

According to the Legal Momentum audit of June 30, 2020 (Note H, Significant Sources of Revenue):

"During fiscal-year 2020, the Organization received two grants totaling $317,000, which represented approximately 33% of total public support..."

According to the Legal Momentum audit of June 30, 2020 (Note A, The Organization and its Significant Accounting Policies, [8] Paycheck Protection Program loan payable):

"On March 27, 2020, Congress enacted the Coronavirus Aid, Relief, and Economic Security Act ('CARES Act'). The Paycheck Protection Program ('PPP') established by the CARES Act...provides businesses, including certain not-for-profit organizations, with funds to pay payroll and other costs during the coronavirus ('COVID-19') outbreak. During fiscal-year 2020, the Organization applied for and received PPP funds."

According to the Legal Momentum audit of June 30, 2020 (Note F, Paycheck Protection Program Loan Payable):

"On May 1, 2020, the Organization received $234,890 in funds from the PPP, which is reported as a Paycheck Protection Program loan payable in the statement of financial position at June 30, 2020. The loan matures on May 1, 2022 and bears interest at a rate of 1%. This loan may be forgiven subject to bank approval in accordance with SBA [Small Business Administration] guidelines. In accordance with SBA guidelines, required monthly principal and interest payments will begin no earlier than September 2021. The Organization intends on applying for full forgiveness. To the extent full forgiveness is granted, any payments made will be returned to the Organization..."

According to the Legal Momentum audit of June 30, 2020 (Note M, Commitments, Contingency and Other uncertainty, [3] Employment agreement):

"In June 2020, the Organization amended the employment agreement with its President commencing July 1, 2020 through June 30, 2021."

According to the Legal Momentum audit of June 30, 2020 (Note L, Commitments, Contingency and Other uncertainty, [4] Other uncertainty):

"The extent of the impact of the COVID-19 outbreak on the operational and financial performance of the Organization will depend on the continued future developments, including the duration and spread of the outbreak and related travel advisories and restrictions and the impact of COVID-19 on the overall availability of contributions toward the Organization's programs, which are highly uncertain and cannot be predicted. If contributions toward the Organization's programs are impacted for an extended period, results of operations may be materially adversely affected."

According to the Legal Momentum tax filing for the fiscal year ended June 30, 2020, Legal Momentum reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, Line 7):

"The organization provides bonuses based on the years of service provided by its staff and their performance."

[No "Bonus & incentive compensation" amounts are reported by Legal Momentum for officers, directors, trustees, key employees, and highest compensated employees in calendar year 2019 (Schedule J, Part II).]