COLLEGES OF LAW LEGACY CORPORATION

EIN: 273495545 501(c)(3)

Ventura, CA

Total Revenue
$2,071
Total Expenses
$3,918,233
Total Assets
N/A
Net Assets
N/A
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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
2010
Legal Domicile
CA
Phone
8056441120
Tax Period
2018-01-01 to 2018-12-31

COLLEGES OF LAW LEGACY CORPORATION, founded in 2010, is a micro nonprofit that reported $2K in total revenue in fiscal year 2018. Revenue decreased 14% compared to the prior year. Expenses of $3.9M exceeded revenue, resulting in a 189095% operating deficit.

Mission

THE CORPORATION IS FORMED TO PROMOTE & ENCOURAGE EDUCATIONAL & INSTRUCTIONAL ACTIVITIES OF LAW SCHOOLS, WHICH QUALIFY AS AN EXEMPT ORGANIZATION, THE MAKING OF CONTRIBUTIONS OF CASH OR OTHER PROPERTY, REAL OR PERSONAL & THE SUPPORT OF THE FUND-RAISING EFFORTS OF SUCH SCHOOLS.

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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 (2018)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $2,071
Other Revenue $0
TOTAL REVENUE $2,071

Expense Breakdown

Grants Paid $3,850,506
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $3,918,233
Other Expenses $67,727
TOTAL EXPENSES $3,918,233

Year-over-Year Comparison

2018 2017 Change
Revenue $2,071 $2,399 -0.1%
Expenses $3,918,233 $61,610 +62.6%
Net Income $-3,916,162 $-59,211 +65.1%
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
4
Independent Members
4
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
$0
Total Directors
2
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LINDSAY NIELSON Secretary 0.00
Director
$0 $0 $0
MARY JANE MILLER Director 0.00
Director
$0 $0 $0
WENDY LASCHER President 0.00
Officer
$0 $0 $0
CLARK C HUBBARD CFO 0.00
Officer
$0 $0 $0
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
2018 $2,071 $3,918,233 No data $-3,916,162
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