Legacy Preparatory Academy
EIN: 453568037 · Charlotte, NC · NTEE: B99
| Metric | Value |
|---|---|
| Total Revenue | $2.8M |
| Total Expenses | $2.9M |
| Net Assets | $20K |
Is Legacy Preparatory Academy Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Legacy Preparatory Academy
Legacy Preparatory Academy (EIN: 453568037) is a nonprofit organization based in Charlotte, NC, classified under NTEE code B99. The organization reported total revenue of $2.8M and total assets of $600K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Legacy Preparatory Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Legacy Preparatory Academy is a mid-size nonprofit that has been operating for 11 years, with 7 years of IRS 990 filings on record (2012–2018).
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.8M |
| Total Expenses | $2.9M |
| Surplus / Deficit | $-170,967 |
| Total Assets | $600K |
| Total Liabilities | $580K |
| Net Assets | $20K |
| Operating Margin | -6.2% |
| Debt-to-Asset Ratio | 96.6% |
| Months of Reserves | 2.4 months |
Financial Health Grade: D
In 2018, Legacy Preparatory Academy reported a deficit of $171K with expenses exceeding revenue, holds 2.4 months of operating reserves (limited), has a debt-to-asset ratio of 96.6% (high leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2018 | +17.6% | +29.0% | +158.0% |
| 2017 | +23.4% | +49.3% | +33.2% |
| 2016 | +54.1% | +1.7% | +17.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2015 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Legacy Preparatory Academy has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Legacy Preparatory Academy with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $171K, with expenses exceeding revenue.
- Debt-to-asset ratio: 96.6%.
Frequently Asked Questions about Legacy Preparatory Academy
Is Legacy Preparatory Academy a legitimate charity?
Legacy Preparatory Academy (EIN: 453568037) is a registered tax-exempt nonprofit based in North Carolina. It has 7 years of IRS 990 filings on record. Total revenue: $2.8M. No red flags identified. Financial health grade: D.
How does Legacy Preparatory Academy spend its money?
Legacy Preparatory Academy reported $2.8M in total revenue in IRS 990 filings. 7 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Legacy Preparatory Academy tax-deductible?
Legacy Preparatory Academy is registered as a tax-exempt nonprofit (EIN: 453568037). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Legacy Preparatory Academy located?
Legacy Preparatory Academy is headquartered in Charlotte, North Carolina and files with the IRS under EIN 453568037. It is classified under NTEE code B99.
How many years of IRS 990 filings does Legacy Preparatory Academy have?
Legacy Preparatory Academy has 7 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 $2.8M in total revenue.
Filing History
IRS 990 filing history for Legacy Preparatory Academy showing financial trends over 7 years of public records:
Total assets increased by 59992800% over the same period, from $1 to $600K. In its most recent filing year (2018), Legacy Preparatory Academy reported a deficit of $171K, with expenses exceeding revenue. The organization holds $580K in liabilities against $600K in assets (debt-to-asset ratio: 96.6%), resulting in net assets of $20K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2018 | $2.8M | $2.9M | $600K | $580K | — | View 990 |
| 2017 | $2.4M | $2.3M | $233K | $41K | — | — |
| 2016 | $1.9M | $1.5M | $175K | $58K | — | View 990 |
| 2015 | $1.2M | $1.5M | $149K | $413K | — | View 990 |
| 2014 | $0 | $0 | $1 | $0 | — | — |
| 2013 | $0 | $0 | $1 | $0 | — | — |
| 2012 | $0 | $0 | $1 | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2018: Revenue of $2.8M, expenses of $2.9M, and assets of $600K (revenue +17.6% year-over-year).
- 2017: Revenue of $2.4M, expenses of $2.3M, and assets of $233K (revenue +23.4% year-over-year).
- 2016: Revenue of $1.9M, expenses of $1.5M, and assets of $175K (revenue +54.1% year-over-year).
- 2015: Revenue of $1.2M, expenses of $1.5M, and assets of $149K.
- 2014: Revenue of $0, expenses of $0, and assets of $1.
- 2013: Revenue of $0, expenses of $0, and assets of $1.
- 2012: Revenue of $0, expenses of $0, and assets of $1.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Legacy Preparatory Academy:
Data Sources and Methodology
This transparency report for Legacy Preparatory Academy 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.