The Legacy Institute

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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

2017

Legal Domicile

Principal Officer

Zachary McComsey

Phone

7196345566

Tax Period

2022-09-01 to 2023-08-31

The Legacy Institute, founded in 2017, is a small nonprofit in the Education sector that reported $655K in total revenue in fiscal year 2022. Revenue surged 76% from the prior year, signaling strong growth momentum. Expenses of $1.8M exceeded revenue, resulting in a 169% operating deficit.

Mission

TO ADVANCE PUBLIC EDUCATION AND COMMUNITY DEVELOPMENT IN COLORADO SPRINGS.

Program Service Accomplishments

Program 1

Expenses: $878,466 Revenue: $829

hELEN HUNT CAMPUS: Redevelopment of the closed Helen Hunt elementary school into a community campus that serves the Hillside Neighborhood in partnership with Community Partnership for Child...

hELEN HUNT CAMPUS: Redevelopment of the closed Helen Hunt elementary school into a community campus that serves the Hillside Neighborhood in partnership with Community Partnership for Child Development, Catholic Charities, The Shandy Clinic, Colorado Springs Food Rescue, Peak Parent Education, and Concrete Couch. This property was sold to the Catholic Charities during the fiscal year ending 8-31-2023. The Legacy Institute also donated $800,000 to Catholic Charities during the fiscal year, as part of the property sale.

Program 2

Expenses: $237,547

Public Education related projects

Program 3

Expenses: $214,011

SOCIAL IMPACT SERVICES: Strategic planning and operating services for community organizations, private foundations, and school districts in the Pikes Peak region focused on innovative approaches to...

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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 (2022)

Revenue Breakdown

Contributions & Grants $275,000

Program Service Revenue $0

Investment Income $379,416

Other Revenue $829

TOTAL REVENUE $655,245

Expense Breakdown

Grants Paid $882,500

Salaries & Benefits $363,137

Fundraising Expenses $33,933

Program Expenses $1,376,327

Other Expenses $519,354

TOTAL EXPENSES $1,764,991

Year-over-Year Comparison

	2022	2021	Change
Revenue	$655,245	$371,271	+0.8%
Expenses	$1,764,991	$663,759	+1.7%
Net Income	$-1,109,746	$-292,488	+2.8%

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

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

$268,793

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Zachary McComsey	CEO	50.0	Officer	$245,000	$23,793	$268,793
Philip R Lane	Director	5.0	Director	$0	$0	$0
Bart Holaday	Director	5.0	Director	$0	$0	$0
Vance Brown	Director	5.0	Director	$0	$0	$0
Kelsey Nolan	Director	5.0	Director	$0	$0	$0
Deborah Hendrix	Director	5.0	Director	$0	$0	$0
Maureen Juran	Director	5.0	Director	$0	$0	$0
Lance Bolton	Director	5.0	Director	$0	$0	$0
Ryan Trujillo	Director	5.0	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$655,245	$1,764,991	$1,110,980	$-1,109,746
2022	$371,271	$663,759	$3,590,490	$-292,488
2021	$318,949	$766,730	$3,931,490	$-447,781
2020	$16,872	$1,032,403	$4,261,817	$-1,015,531
2019	$523,223	$1,088,273	$4,223,250	$-565,050
2018	$9,524,200	$4,723,647	$5,062,553	$4,800,553