LEGACY ACADEMY INC (EIN 831893292) - 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

2018

Legal Domicile

Principal Officer

MARCIE FROGLEY

Phone

2089945038

Tax Period

2023-01-01 to 2023-12-31

LEGACY ACADEMY INC, founded in 2018, is a small nonprofit in the Education sector that reported $511K in total revenue in fiscal year 2023. Revenue fell 38% from the prior year — a significant decline worth monitoring. Expenses of $570K exceeded revenue, resulting in a 11% operating deficit.

Mission

LEGACY ACADEMY IS AN EDUCATIONAL ORGANIZATION THAT SEEKS TO PARTNER WITH PARENTS, STUDENTS, TEACHERS, AND ADMINISTRATORS TO PROVIDE A QUALITY, ENRICHING EDUCATION ROOTED IN ACADEMIC EXCELLENCE, PRINCIPLES OF LIBERTY, MORAL CHARACTER, AND FAITH. STRONG CORE PROGRAMMING ENCOMPASSES; MATH, LANGUAGE ARTS, SCIENCE, HISTORY, SOCIAL STUDIES, GEOGRAPHY, ART AND MUSIC EDUCATION. CHARACTER DEVELOPMENT AND LEADERSHIP SKILLS ARE INCORPORATED IN ALL ASPECTS OF LEARNING. TEACHING METHODOLOGIES CENTER ON THE ELEMENTS; RESEARCH, RELATE AND RECORD.

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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 (2023)

Revenue Breakdown

Contributions & Grants $40,603

Program Service Revenue $460,307

Investment Income $8,687

Other Revenue $1,727

TOTAL REVENUE $511,324

Expense Breakdown

Grants Paid $0

Salaries & Benefits $174,869

Fundraising Expenses $0

Program Expenses $484,306

Other Expenses $394,752

TOTAL EXPENSES $569,621

Year-over-Year Comparison

	2023	2022	Change
Revenue	$511,324	$820,811	-0.4%
Expenses	$569,621	$368,397	+0.5%
Net Income	$-58,297	$452,414	-1.1%

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

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

$6,644

Total Directors

$6,644

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KINDRA HOWARD	VICE PRESIDE	40.00	Officer Director	$5,144	$0	$5,144
MARCIE FROGLEY	PRESIDENT &	40.00	Officer Director	$1,500	$0	$1,500
DIANE ANDERSON	DIRECTOR	3.00	Director	$0	$0	$0
JARRED MACKENZIE	TREASURER	3.00	Director	$0	$0	$0
EMILY THORTON	SECRETARY	3.00	Officer 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	No data	No data	No data	No data
2023	$511,324	$569,621	$500,569	$-58,297
2022	$820,811	$368,397	$556,247	$452,414
2021	$283,664	$237,210	$103,073	$46,454

LEGACY ACADEMY INC