Legacy Charter School
Legacy Charter School shows consistent revenue growth but reported a deficit in its latest fiscal year.
EIN: 201946624 · Chicago, IL · NTEE: B29 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8.7M |
| Total Expenses | $8.6M |
| Program Spending | 85% |
| Net Assets | $19.5M |
| Transparency Score | 88/100 |
Is Legacy Charter School Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Legacy Charter School directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Legacy Charter School
Legacy Charter School (EIN: 201946624) is a nonprofit organization based in Chicago, IL, classified under NTEE code B29. The organization reported total revenue of $8.7M and total assets of $23.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Legacy Charter School's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Legacy Charter School is a mid-size nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8.2M |
| Total Expenses | $8.6M |
| Surplus / Deficit | $-425,037 |
| Total Assets | $23.8M |
| Total Liabilities | $4.3M |
| Net Assets | $19.5M |
| Operating Margin | -5.2% |
| Debt-to-Asset Ratio | 18.1% |
| Months of Reserves | 33.3 months |
Financial Health Grade: B
In 2023, Legacy Charter School reported a deficit of $425K with expenses exceeding revenue, holds 33.3 months of operating reserves (strong position), has a debt-to-asset ratio of 18.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Legacy Charter School's revenue has grown at a compound annual growth rate (CAGR) of 7.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.4% | +19.7% | +81.3% |
| 2022 | +6.1% | +3.4% | -4.1% |
| 2021 | +13.4% | +2.1% | +3.4% |
| 2020 | +4.9% | +15.2% | +8.5% |
| 2019 | +6.2% | +6.7% | +6.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Legacy Charter School with a Mission Score of 88 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Legacy Charter School allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $425K, with expenses exceeding revenue.
- Debt-to-asset ratio: 18.1%.
Executive Compensation Analysis
Legacy Charter School consistently reports 0% officer compensation across all available filings, indicating that no compensation is paid to officers, directors, or trustees, which is a strong positive for financial transparency and resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Legacy Charter School's IRS 990 filings:
- Expenses exceeded revenue in the latest fiscal period (202306), indicating a deficit for that year.
Strengths
The following positive indicators were identified for Legacy Charter School:
- Consistent revenue growth over the past decade, from $5.58M in 2014 to $8.15M in 2023.
- Significant asset growth, particularly a $10M increase between 2022 and 2023, indicating strong financial capacity.
- Consistent reporting of 0% officer compensation across all filings, demonstrating excellent transparency and resource allocation.
- Low liabilities relative to assets in most periods, indicating good financial stability.
Frequently Asked Questions about Legacy Charter School
Is Legacy Charter School a legitimate charity?
Legacy Charter School (EIN: 201946624) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 88/100. It has 13 years of IRS 990 filings on record. Total revenue: $8.7M. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Legacy Charter School spend its money?
Legacy Charter School directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Legacy Charter School tax-deductible?
Legacy Charter School is registered as a tax-exempt nonprofit (EIN: 201946624). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Legacy Charter School's spending goes to programs?
Legacy Charter School directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Legacy Charter School compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Legacy Charter School is above average for NTEE category B29 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Legacy Charter School located?
Legacy Charter School is headquartered in Chicago, Illinois and files with the IRS under EIN 201946624. It is classified under NTEE code B29.
How many years of IRS 990 filings does Legacy Charter School have?
Legacy Charter School has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $8.7M in total revenue.
Is Legacy Charter School a good charity?
Based on the available data, Legacy Charter School appears to be a well-managed organization with consistent revenue growth and significant asset accumulation. The 0% officer compensation is a strong indicator of good governance and a focus on mission. While the latest filing shows a deficit, this follows a surplus and overall financial health appears stable.
What caused the significant increase in assets between 2022 and 2023?
The assets increased from $13,150,588 in 2022 to $23,835,965 in 2023. This substantial jump of over $10 million suggests a major capital acquisition, such as new property or significant facility improvements, or a large influx of non-operating funds.
Why did expenses exceed revenue in the 2023 fiscal period?
In 2023, expenses were $8,579,805 while revenue was $8,154,768, resulting in a deficit. This could be due to one-time investments, increased operational costs, or a temporary dip in funding, and should be monitored in future filings.
Filing History
IRS 990 filing history for Legacy Charter School showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Legacy Charter School's revenue has grown by 136.3%, moving from $3.5M to $8.2M. Total assets increased by 175.3% over the same period, from $8.7M to $23.8M. Total functional expenses rose by 143.2%, from $3.5M to $8.6M. In its most recent filing year (2023), Legacy Charter School reported a deficit of $425K, with expenses exceeding revenue. The organization holds $4.3M in liabilities against $23.8M in assets (debt-to-asset ratio: 18.1%), resulting in net assets of $19.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8.2M | $8.6M | $23.8M | $4.3M | — | View 990 |
| 2022 | $8.1M | $7.2M | $13.2M | $539K | — | View 990 |
| 2021 | $7.7M | $6.9M | $13.7M | $1.3M | — | — |
| 2020 | $6.8M | $6.8M | $13.3M | $1.5M | — | — |
| 2019 | $6.4M | $5.9M | $12.2M | $464K | — | View 990 |
| 2018 | $6.1M | $5.5M | $11.5M | $310K | — | View 990 |
| 2017 | $5.0M | $5.1M | $10.0M | $319K | — | View 990 |
| 2016 | $6.4M | $6.8M | $10.1M | $313K | — | View 990 |
| 2015 | $5.2M | $5.0M | $10.3M | $119K | — | View 990 |
| 2014 | $5.6M | $4.5M | $10.0M | $31K | — | View 990 |
| 2013 | $4.4M | $4.1M | $8.9M | $88K | — | View 990 |
| 2012 | $4.2M | $4.2M | $8.6M | $52K | — | View 990 |
| 2011 | $3.5M | $3.5M | $8.7M | $54K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.2M, expenses of $8.6M, and assets of $23.8M (revenue +0.4% year-over-year).
- 2022: Revenue of $8.1M, expenses of $7.2M, and assets of $13.2M (revenue +6.1% year-over-year).
- 2021: Revenue of $7.7M, expenses of $6.9M, and assets of $13.7M (revenue +13.4% year-over-year).
- 2020: Revenue of $6.8M, expenses of $6.8M, and assets of $13.3M (revenue +4.9% year-over-year).
- 2019: Revenue of $6.4M, expenses of $5.9M, and assets of $12.2M (revenue +6.2% year-over-year).
- 2018: Revenue of $6.1M, expenses of $5.5M, and assets of $11.5M (revenue +22.2% year-over-year).
- 2017: Revenue of $5.0M, expenses of $5.1M, and assets of $10.0M (revenue -22.4% year-over-year).
- 2016: Revenue of $6.4M, expenses of $6.8M, and assets of $10.1M (revenue +22.5% year-over-year).
- 2015: Revenue of $5.2M, expenses of $5.0M, and assets of $10.3M (revenue -6.6% year-over-year).
- 2014: Revenue of $5.6M, expenses of $4.5M, and assets of $10.0M (revenue +28.3% year-over-year).
- 2013: Revenue of $4.4M, expenses of $4.1M, and assets of $8.9M (revenue +4.6% year-over-year).
- 2012: Revenue of $4.2M, expenses of $4.2M, and assets of $8.6M (revenue +20.6% year-over-year).
- 2011: Revenue of $3.5M, expenses of $3.5M, and assets of $8.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Legacy Charter School:
Data Sources and Methodology
This transparency report for Legacy Charter School is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.