THE LEGACY ACADEMY INC

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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

2015

Legal Domicile

Principal Officer

MARC BULLER

Phone

4086406788

Tax Period

2018-07-01 to 2019-06-30

THE LEGACY ACADEMY INC, founded in 2015, is a small nonprofit that reported $328K in total revenue in fiscal year 2018. Expenses of $725K exceeded revenue, resulting in a 121% operating deficit.

Mission

TO ENGAGE AND INSPIRE MIDDLE SCHOOL YOUTH TO ACHIEVE ACADEMIC AND SOCIAL SUCCESS.

Program Service Accomplishments

Program 1

Expenses: $547,341 Revenue: $21,237

LEGACY ACADEMY OPERATED A PUBLIC CHARTER SCHOOL OPERATED THROUGH SANTA CLARA COUNTY OFFICE OF EDUCATION IN SAN JOSE, CA. DURING 2018-19, LEGACY ACADEMY SERVED APPROXIMATELY 7 STUDENTS IN GRADES 6-8. THE LEGACY ACADEMY COMES ALONGSIDE YOUTH WHO HAVE BEEN INVOLVED IN THE JUVENILE JUSTICE OR FOSTER CARE SYSTEMS AS WELL AS STUDENTS WHO HAVE SIGNIFICANT SOCIAL AND ACADEMIC CHALLENGES, AND OFFERS THEM A LIFE-CHANGING MIDDLE SCHOOL EXPERIENCE.

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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 (2018)

Revenue Breakdown

Contributions & Grants $306,271

Program Service Revenue $21,237

Investment Income $448

Other Revenue $0

TOTAL REVENUE $327,956

Expense Breakdown

Grants Paid $0

Salaries & Benefits $294,785

Fundraising Expenses $0

Program Expenses $547,341

Other Expenses $430,677

TOTAL EXPENSES $725,462

Year-over-Year Comparison

	2018	2017	Change
Revenue	$327,956	N/A	N/A
Expenses	$725,462	N/A	N/A
Net Income	$-397,506	$0	N/A

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

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

$50,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NANCY PENA	PRESIDENT	1.00	Officer Director	$0	$0	$0
GARY RUMMELHOFF	TREASURER	1.00	Officer Director	$0	$0	$0
FREDRICK J FERRER	DIRECTOR	1.00	Director	$0	$0	$0
ANDRE V CHAPMAN	DIRECTOR	1.00	Director	$0	$0	$0
GREGG LIPPMAN	DIRECTOR	1.00	Director	$0	$0	$0
MARC BULLER	EXECUTIVE DIRECTOR	40.00	Officer	$50,000	$0	$50,000
DANETTE SOKACICH	PRINCIPAL	40.00	Highest	$122,500	$837	$123,337

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
2019	$327,956	$725,462	$8,802	$-397,506