Legacy21 Inc

Analysis

Legacy21 Inc is a registered charity in United States, based in Richardson, TX. It received its IRS tax-exemption ruling in May 2011, 15 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 August 2023, Legacy21 Inc reported income of $20.4m and spending of $20.7m, spending 101% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $14.9m to $20.4m (+37%), an average of +8.2% a year. The sharpest change came in the year to August 2020, when income rose by 20%. 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, Legacy21 Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within TX. Charities of a similar size with the same main cause include Wave Services Inc ($20.4m), Gompers Preparatory Academy ($20.5m) and Kipp Philadelphia Charter School ($20.4m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 98% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $351k (1.7% of expenses). Other salaries and wages came to $11.4m. At year end it held assets of $39.5m against liabilities of $35.4m, net assets of $4.2m. It reported 287 employees.