LEGACY FLIGHT ACADEMY (EIN 454549243) - 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

2012

Legal Domicile

Principal Officer

Kenneth Thomas

Tax Period

2024-01-01 to 2024-12-31

LEGACY FLIGHT ACADEMY, founded in 2012, is a micro nonprofit in the Human Services sector that reported $49K in total revenue in fiscal year 2024. Revenue fell 58% from the prior year — a significant decline worth monitoring. Expenses of $61K exceeded revenue, resulting in a 24% operating deficit.

Mission

To uphold and sustain the LEGACY of the heroic Tuskegee Airmen while encouraging youth to pursue aerospace and Science, Technology, Engineering, and Math (STEM) careers.

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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 $49,463

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $49,463

Expense Breakdown

Grants Paid $24,669

Salaries & Benefits $0

Fundraising Expenses $509

Program Expenses $38,444

Other Expenses $36,686

TOTAL EXPENSES $61,355

Year-over-Year Comparison

	2024	2023	Change
Revenue	$49,463	$118,014	-0.6%
Expenses	$61,355	$50,421	+0.2%
Net Income	$-11,892	$67,593	-1.2%

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

300

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kenneth Thomas	President	25	Officer Director	$0	$0	$0
Tieu Myers	Secretary	10	Officer Director	$0	$0	$0
Aaron Jones	Vice President	10	Officer Director	$0	$0	$0
Valyncia Thomas	Treasurer	25	Officer Director	$0	$0	$0
Alex Cole	Board Member	10	Director	$0	$0	$0
Ben Ayivorh	Board Member	10	Director	$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
2024	$49,463	$61,355	$166,621	$-11,892
2023	$118,014	$50,421	$178,513	$67,593
2022	$68,503	$59,603	$110,920	$8,900
2021	$55,056	$34,392	$102,020	$20,664

LEGACY FLIGHT ACADEMY