Legacy Early College

Analysis

Legacy Early College is a registered charity in United States, based in Greenville, SC. It received its IRS tax-exemption ruling in February 2008, 18 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Legacy Early College reported income of $24.8m and spending of $24.1m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $18.9m to $24.8m (+31%), an average of +7.0% a year. The sharpest change came in the year to June 2021, when income rose by 22%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Legacy Early College sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within SC. Charities of a similar size with the same main cause include The Foundation Schools ($24.8m), STEM Preparatory Schools Inc ($24.8m) and Republic Schools Nashville ($24.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $141k (0.6% of expenses). Other salaries and wages came to $12.9m. At year end it held assets of $33.2m against liabilities of $22.1m, net assets of $11.1m. It reported 424 employees.