Legacy Academy

Analysis

Legacy Academy is a registered charity in United States, based in Elizabeth, CO. It received its IRS tax-exemption ruling in April 2000, 26 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 Academy reported income of $5.7m and spending of $5.5m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.2m to $5.7m (+35%), an average of +7.7% a year. The sharpest change came in the year to June 2020, when income rose by 22%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Legacy Academy sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within CO. Charities of a similar size with the same main cause include New World Symphony Inc ($5.7m), Penn State Research Foundation ($5.7m) and Imani School ($5.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 13% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $2.5m (45% of expenses). At year end it held assets of $12.8m against liabilities of $15.2m, net assets of -$2.4m. It reported 109 employees.