Legacy Christian Academy

Analysis

Legacy Christian Academy is a registered charity in United States, based in Frisco, TX. It received its IRS tax-exemption ruling in November 1999, 27 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 July 2023, Legacy Christian Academy reported income of $29.6m and spending of $28.4m, spending 96% of its income. Across the 5 years on record, from July 2019 to July 2023, income grew from $18.8m to $29.6m (+58%), an average of +12% a year. The sharpest change came in the year to July 2023, when income rose by 26%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Legacy Christian Academy 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 TX. Charities of a similar size with the same main cause include Roxbury Latin School Inc ($29.6m), Longwood University Real Estate Foundation ($29.6m) and Wells College ($29.6m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 12% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $712k (2.5% of expenses). Other salaries and wages came to $12.1m. At year end it held assets of $55.1m against liabilities of $30.4m, net assets of $24.7m. It reported 314 employees.