Legacy Academy of Excellence Charter School

Analysis

Legacy Academy of Excellence Charter School is a registered charity in United States, based in Rockford, IL. It received its IRS tax-exemption ruling in March 2012, 14 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Legacy Academy of Excellence Charter School reported income of $4.4m and spending of $4.1m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.5m to $4.4m (+26%), an average of +5.9% a year. The sharpest change came in the year to June 2023, when income rose by 23%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Legacy Academy of Excellence Charter School sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within IL. Charities of a similar size with the same main cause include Frontier Charter Academy ($4.4m), German School Brooklyn ($4.4m) and Blackfoot Charter Community Learning Center ($4.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $103k (2.5% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $2.0m against liabilities of $475k, net assets of $1.5m. It reported 46 employees.