LEGACY SECONDARY SCHOOLS INC (EIN 262215217) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2008

Legal Domicile

Phone

6612577377

Tax Period

2021-07-01 to 2022-06-30

LEGACY SECONDARY SCHOOLS INC, founded in 2008, is a community nonprofit in the Education sector that reported $6.8M in total revenue in fiscal year 2021. Expenses of $7.7M exceeded revenue, resulting in a 14% operating deficit.

Mission

WE PROVIDE A COMPREHENSIVE, RIGOROUS, AND WELL-ROUNDED PREPARATORY EDUCATION TO STUDENTS WITHIN A CHRISTIAN, FAMILY-ORIENTED, SAFE LEARNING ENVIRONMENT. WE ARE DEDICATED TO THE PURSUIT OF ACADEMIC EXCELLENCE AND THE DEVELOPMENT OF CHRISTIAN CHARACTER.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $6,530,258

Investment Income $369

Other Revenue $230,917

TOTAL REVENUE $6,761,544

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,426,064

Fundraising Expenses $0

Program Expenses $6,288,471

Other Expenses $3,273,480

TOTAL EXPENSES $7,699,544

Year-over-Year Comparison

	2021	2020	Change
Revenue	$6,761,544	$6,809,194	0.0%
Expenses	$7,699,544	$6,373,599	+0.2%
Net Income	$-938,000	$435,595	-3.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$138,333

Total Directors

$138,333

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NIGEL STOUT	DIRECTOR	0.00	Director	$0	$0	$0
DONNA BORRUEL	SECRETARY	40.00	Officer Director	$50,000	$0	$50,000
JOE KELLER	DIRECTOR	0.00	Director	$0	$0	$0
CORKEY LEE	DIRECTOR	0.00	Director	$0	$0	$0
PETER COELER	DIRECTOR	0.00	Director	$0	$0	$0
BARBARA COELER	DIRECTOR	0.00	Director	$0	$0	$0
TIMOTHY BORRUEL	CHAIRMAN	40.00	Officer Director	$88,333	$0	$88,333

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2022	$6,761,544	$7,699,544	$3,200,715	$-938,000
2021	$6,809,194	$6,373,599	$3,988,714	$435,595
2020	$6,253,916	$5,534,246	$3,867,908	$719,670
2019	$6,204,138	$5,860,581	$3,208,238	$343,557
2018	$6,296,494	$6,187,284	$3,244,679	$109,210

LEGACY SECONDARY SCHOOLS INC