LEGACY SECONDARY SCHOOLS INC

EIN: 262215217 501(c)(3) Education

VALENCIA, CA

Total Revenue
$6,761,544
Total Expenses
$7,699,544
Total Assets
$3,200,715
Net Assets
$2,990,715
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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
CA
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.

Program Service Accomplishments

Program 1
Expenses: $6,288,471 Revenue: $6,530,258

COSTS FOR CURRICULUM AND TEACHERS TO EDUCATE 392 STUDENTS FROM KINDERGARTEN THROUGH EIGHTH GRADES. ALSO INCLUDES EXPENSES SUCH AS LUNCH PROGRAM, MAINTENANCE, AND UTILITIES FOR CLASSROOM USE.

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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%)

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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

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Governance

Voting Members
5
Independent Members
5
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
2
$138,333
Total Directors
7
$138,333
Key Employees
0
$0
Highest Compensated
0
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
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