LEGAL PREP CHARTER ACADEMIES (EIN 271071296) - 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

2009

Legal Domicile

Principal Officer

SAMUEL FINKELSTEIN

Phone

7739227800

Tax Period

2024-07-01 to 2025-06-30

LEGAL PREP CHARTER ACADEMIES, founded in 2009, is a community nonprofit in the Education sector that reported $4.6M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year.

Mission

LEGAL PREP WAS CREATED TO OPEN A LEGAL-THEMED CHARTER HIGH SCHOOL IN A HIGH-NEED CHICAGO COMMUNITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $4,511,032

Program Service Revenue $39,526

Investment Income $15,049

Other Revenue $-4,784

TOTAL REVENUE $4,560,823

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,104,629

Fundraising Expenses $29,661

Program Expenses $4,317,569

Other Expenses $1,742,176

TOTAL EXPENSES $4,846,805

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,560,823	$4,985,107	-0.1%
Expenses	$4,846,805	$4,982,018	0.0%
Net Income	$-285,982	$3,089	-93.6%

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

Volunteers

225

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

$272,471

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
OSCAR ROMERO	VP/PRESIDENT-ELECT	5.00	Officer Director	$0	$0	$0
HEATHER FINE	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
CRISTEL TURNER	SECRETARY	5.00	Officer Director	$0	$0	$0
RATHER STANTON	TREASURER	5.00	Officer Director	$0	$0	$0
JASON BROWN	DIRECTOR	5.00	Director	$0	$0	$0
KALIA COLEMAN	DIRECTOR	5.00	Director	$0	$0	$0
MARK DEMONTE	DIRECTOR	5.00	Director	$0	$0	$0
RYAN DUNIGAN	DIRECTOR	5.00	Director	$0	$0	$0
PATRICK HENDRICKS	DIRECTOR	5.00	Director	$0	$0	$0
JOSE ISASI	DIRECTOR	5.00	Director	$0	$0	$0
KRISTOPHER KEYS	DIRECTOR	5.00	Director	$0	$0	$0
CRYSTAL MCCUNE	DIRECTOR	5.00	Director	$0	$0	$0
PAULA MORENO	DIRECTOR	5.00	Director	$0	$0	$0
ALEJANDRO ORTEGA	DIRECTOR	5.00	Director	$0	$0	$0
DAVID SUSLER	DIRECTOR	5.00	Director	$0	$0	$0
COURTNEY WELTON	DIRECTOR	5.00	Director	$0	$0	$0
BRYAN WESTHOFF	DIRECTOR	5.00	Director	$0	$0	$0
ELIE ZENNER	DIRECTOR	5.00	Director	$0	$0	$0
SAMUEL FINKELSTEIN	CEO & EX-OFFICIO	40.00	Officer	$155,789	$44,745	$200,534
LAURA MILLER	DIRECTOR OF DEVELOPMENT & EX-OFFICIO	40.00	Officer	$59,346	$12,591	$71,937
JOSEPH WILLIAMS	PRINCIPAL	40.00	Highest	$119,326	$9,504	$128,830
MELISSA ALMAZAN	BUSINESS MANAGER & ATHLETIC DIRECTOR	40.00	Highest	$102,352	$24,519	$126,871
HEATHER DAVIS	DIRECTOR OF INSTRUCTION AND CURRICULUM	40.00	Highest	$103,857	$16,437	$120,294

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	$4,560,823	$4,846,805	$6,448,018	$-285,982
2024	$4,985,107	$4,982,018	$6,904,898	$3,089
2023	$4,864,249	$4,445,939	$6,938,171	$418,310
2022	$4,710,183	$4,534,159	$6,701,442	$176,024
2021	$5,231,992	$4,213,080	$6,715,442	$1,018,912
2020	$4,870,085	$4,748,595	$6,641,433	$121,490
2019	$4,713,254	$4,966,397	$6,813,428	$-253,143
2018	$4,567,107	$4,859,293	$5,248,979	$-292,186

LEGAL PREP CHARTER ACADEMIES