LEGACY ACADEMY OF EXCELLENCE CHARTER SCHOOL

EIN: 264115871 501(c)(3) Education

ROCKFORD, IL

Total Revenue
$3,903,095
Total Expenses
$4,056,116
Total Assets
$1,930,146
Net Assets
$1,514,492
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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
2009
Legal Domicile
IL
Principal Officer
DR BARBARA FORTE
Phone
8159684590
Tax Period
2024-07-01 to 2025-06-30

LEGACY ACADEMY OF EXCELLENCE CHARTER SCHOOL, founded in 2009, is a community nonprofit in the Education sector that reported $3.9M in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year.

Mission

TO INSTILL A LIFELONG PASSION FOR LEARNING WITHIN ALL ITS STUDENTS WHILE ENSURING THAT ALL LEARNERS, REGARDLESS OF ECONOMIC AND SOCIAL BACKGROUND, CAN SUCCEED ACADEMICALLY AND BECOME CONTRIBUTING CITIZENS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $3,641,787
Program Service Revenue $194,666
Investment Income $0
Other Revenue $66,642
TOTAL REVENUE $3,903,095

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,350,440
Fundraising Expenses $0
Program Expenses $3,429,129
Other Expenses $1,705,676
TOTAL EXPENSES $4,056,116

Year-over-Year Comparison

2024 2023 Change
Revenue $3,903,095 $4,622,968 -0.2%
Expenses $4,056,116 $4,471,693 -0.1%
Net Income $-153,021 $151,275 -2.0%
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
7
Independent Members
6
Employees
47
Volunteers
6

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
$207,538
Total Directors
7
$207,538
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR BARBARA FORTE SECRETARY/EXECUTIVE DIRECTOR 40.00
Officer Director
$207,538 $0 $207,538
WANDA FARMER PRESIDENT 0.50
Officer Director
$0 $0 $0
JUDY BROOKS BOARD MEMBER 0.50
Director
$0 $0 $0
ARLENE GLADNEY BOARD MEMBER 0.50
Director
$0 $0 $0
FAYRENE MUHAMMAD BOARD MEMBER 0.50
Director
$0 $0 $0
ALICE PATTERSON BOARD MEMBER 0.50
Director
$0 $0 $0
LINDA SAENZ BOARD MEMBER 0.50
Director
$0 $0 $0
LYNN VICTOROV ASSISTANT EXECUTIVE DIRECTOR 40.00
Highest
$151,011 $941 $151,952
CHRISTOPHER JENKINS OPERATIONS AND SCHOLAR SUPPORT MANAGER 40.00
Highest
$117,279 $594 $117,873
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
2025 $3,903,095 $4,056,116 $1,930,146 $-153,021
2024 No data No data No data No data
2023 $4,426,222 $4,129,220 $1,991,051 $297,002
2022 $3,612,648 $3,838,389 $1,691,588 $-225,741
2021 $3,492,654 $3,434,949 $2,072,468 $57,705
2020 $3,624,994 $3,516,209 $1,927,730 $108,785
2019 $3,512,808 $3,514,890 $1,527,803 $-2,082
2018 $3,846,744 $3,294,013 $1,500,425 $552,731
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