Legacy Early College
Legacy Early College shows strong revenue growth and asset accumulation, with no reported officer compensation, but significant liabilities have also increased.
EIN: 205257052 · Greenville, SC · NTEE: B29 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $25.5M |
| Total Expenses | $24.1M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $24 |
| Net Assets | $11.1M |
| Transparency Score | 85/100 |
Is Legacy Early College Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Legacy Early College directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Legacy Early College
Legacy Early College (EIN: 205257052) is a nonprofit organization based in Greenville, SC, classified under NTEE code B29. The organization reported total revenue of $25.5M and total assets of $18.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Legacy Early College's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Legacy Early College is a large nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $24.8M |
| Total Expenses | $24.1M |
| Surplus / Deficit | +$714K |
| Total Assets | $33.2M |
| Total Liabilities | $22.1M |
| Net Assets | $11.1M |
| Operating Margin | 2.9% |
| Debt-to-Asset Ratio | 66.6% |
| Months of Reserves | 16.5 months |
Financial Health Grade: A
In 2023, Legacy Early College reported a surplus of $714K with revenue exceeding expenses, holds 16.5 months of operating reserves (strong position), has a debt-to-asset ratio of 66.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Legacy Early College's revenue has grown at a compound annual growth rate (CAGR) of 14.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.6% | +5.1% | +5.1% |
| 2022 | +3.5% | +23.4% | +166.0% |
| 2021 | +21.5% | -2.3% | +12.4% |
| 2020 | +0.4% | +5.9% | +68.0% |
| 2019 | +3.1% | +10.4% | +18.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2008 |
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 Early College with a Mission Score of 85 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 Early College 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 surplus of $714K, with revenue exceeding expenses.
- Debt-to-asset ratio: 66.6%.
Executive Compensation Analysis
Legacy Early College consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is highly unusual for an organization of its size with revenues exceeding $24 million.
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 Early College's IRS 990 filings:
- Significant and rapidly increasing liabilities without clear explanation in the provided data (from $898,194 in 2014 to $22,104,114 in 2023).
- Consistent reporting of 0% officer compensation for an organization with over $24 million in revenue, which is highly unusual and warrants further investigation into executive compensation practices.
Strengths
The following positive indicators were identified for Legacy Early College:
- Strong and consistent revenue growth over the past decade, from $10,892,145 in 2014 to $24,790,674 in 2023.
- Substantial asset growth, indicating successful capital accumulation and expansion (from $736,578 in 2014 to $33,185,242 in 2023).
- Expenses generally track closely with revenue, suggesting efficient deployment of funds for operations.
- Consistent filing history (13 filings) demonstrates good compliance and transparency in reporting to the IRS.
Frequently Asked Questions about Legacy Early College
Is Legacy Early College a legitimate charity?
Based on AI analysis of IRS 990 filings, Legacy Early College (EIN: 205257052) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Legacy Early College spend its money?
Legacy Early College directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Legacy Early College tax-deductible?
Legacy Early College is registered as a tax-exempt nonprofit (EIN: 205257052). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Legacy Early College CEO make?
Legacy Early College's highest-compensated officer earns $24 annually. The organization reported $25.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Legacy Early College's spending goes to programs?
Legacy Early College directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Legacy Early College compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Legacy Early College 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 Early College located?
Legacy Early College is headquartered in Greenville, South Carolina and files with the IRS under EIN 205257052. It is classified under NTEE code B29.
How many years of IRS 990 filings does Legacy Early College have?
Legacy Early College 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 $25.5M in total revenue.
What is the nature of Legacy Early College's significant liabilities, which reached $22,104,114 in 2023?
The provided data indicates a substantial increase in liabilities, from $898,194 in 2014 to $22,104,114 in 2023. Understanding if these are related to capital projects, debt financing for expansion, or other obligations is crucial for a complete financial assessment.
How does Legacy Early College manage to operate without reporting any officer compensation?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this scale. It suggests that executive leadership may be compensated through other means not categorized as 'officer compensation' on the 990, or that leadership roles are filled by volunteers or individuals compensated by a related entity.
What is the detailed breakdown of Legacy Early College's program, administrative, and fundraising expenses?
While overall expenses are provided, a detailed functional expense breakdown is necessary to precisely evaluate spending efficiency and ensure the majority of funds are directed towards direct program services.
Filing History
IRS 990 filing history for Legacy Early College showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Legacy Early College's revenue has grown by 408.2%, moving from $4.9M to $24.8M. Total assets increased by 3647.1% over the same period, from $886K to $33.2M. Total functional expenses rose by 368.6%, from $5.1M to $24.1M. In its most recent filing year (2023), Legacy Early College reported a surplus of $714K, with revenue exceeding expenses. The organization holds $22.1M in liabilities against $33.2M in assets (debt-to-asset ratio: 66.6%), resulting in net assets of $11.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $24.8M | $24.1M | $33.2M | $22.1M | — | — |
| 2022 | $23.9M | $22.9M | $31.6M | $21.2M | — | View 990 |
| 2021 | $23.1M | $18.6M | $11.9M | $2.5M | — | View 990 |
| 2020 | $19.0M | $19.0M | $10.6M | $5.9M | — | View 990 |
| 2019 | $18.9M | $17.9M | $6.3M | $1.7M | — | View 990 |
| 2018 | $18.4M | $16.3M | $5.3M | $1.7M | — | View 990 |
| 2017 | $14.7M | $14.1M | $2.9M | $1.5M | — | View 990 |
| 2016 | $13.7M | $13.7M | $1.8M | $975K | — | View 990 |
| 2015 | $12.4M | $12.0M | $1.8M | $976K | — | View 990 |
| 2014 | $10.9M | $10.8M | $737K | $898K | — | View 990 |
| 2013 | $8.3M | $8.5M | $922K | $1.1M | — | View 990 |
| 2012 | $6.2M | $6.3M | $735K | $708K | — | View 990 |
| 2011 | $4.9M | $5.1M | $886K | $357K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $24.8M, expenses of $24.1M, and assets of $33.2M (revenue +3.6% year-over-year).
- 2022: Revenue of $23.9M, expenses of $22.9M, and assets of $31.6M (revenue +3.5% year-over-year).
- 2021: Revenue of $23.1M, expenses of $18.6M, and assets of $11.9M (revenue +21.5% year-over-year).
- 2020: Revenue of $19.0M, expenses of $19.0M, and assets of $10.6M (revenue +0.4% year-over-year).
- 2019: Revenue of $18.9M, expenses of $17.9M, and assets of $6.3M (revenue +3.1% year-over-year).
- 2018: Revenue of $18.4M, expenses of $16.3M, and assets of $5.3M (revenue +24.9% year-over-year).
- 2017: Revenue of $14.7M, expenses of $14.1M, and assets of $2.9M (revenue +7.4% year-over-year).
- 2016: Revenue of $13.7M, expenses of $13.7M, and assets of $1.8M (revenue +10.1% year-over-year).
- 2015: Revenue of $12.4M, expenses of $12.0M, and assets of $1.8M (revenue +14.1% year-over-year).
- 2014: Revenue of $10.9M, expenses of $10.8M, and assets of $737K (revenue +31.4% year-over-year).
- 2013: Revenue of $8.3M, expenses of $8.5M, and assets of $922K (revenue +32.9% year-over-year).
- 2012: Revenue of $6.2M, expenses of $6.3M, and assets of $735K (revenue +27.9% year-over-year).
- 2011: Revenue of $4.9M, expenses of $5.1M, and assets of $886K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Legacy Early College:
Data Sources and Methodology
This transparency report for Legacy Early College 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.