FRIENDS OF LEGACY INC

EIN: 850964002 501(c)(3) Education

BRONX, NY

Total Revenue
$-568,273
Total Expenses
$629,597
Total Assets
$62,940,008
Net Assets
$-2,751,643
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
NY
Principal Officer
SUMMER SCHNEIDER
Phone
3477461558
Tax Period
2024-07-01 to 2025-06-30

FRIENDS OF LEGACY INC, founded in 2020, is a micro nonprofit in the Education sector that reported $568K in total revenue in fiscal year 2024.

Mission

THE ORGANIZATION WAS ESTABLISHED TO PROVIDE FINANCIAL AND TECHNICAL SUPPORT TO, AND FURTHER THE EDUCATIONAL AND CHARITABLE PURPOSES OF THE LEGACY COLLEGE PREPARATORY CHARTER SCHOOL IN THE STATE OF NEW YORK.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $0
Other Revenue $-568,273
TOTAL REVENUE $-568,273

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $590,561
Other Expenses $629,597
TOTAL EXPENSES $629,597

Year-over-Year Comparison

2024 2023 Change
Revenue $-568,273 $-654,380 -0.1%
Expenses $629,597 $609,400 +0.0%
Net Income $-1,197,870 $-1,263,780 -0.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
3

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
3
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CATHERINE HAUSMANN BOARD CHAIR 1.00
Officer Director
$0 $0 $0
YVONNE GUIELLEN SECRETARY 1.00
Officer Director
$0 $0 $0
MICHAEL RAKITER TREASURER 1.00
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
2025 $-568,273 $629,597 $62,940,008 $-1,197,870
2024 $-654,380 $609,400 $70,798,542 $-1,263,780
2023 $-87,620 $1,086,173 $72,816,660 $-1,173,793
2022 $963,163 $476,313 $1,253,492 $486,850
2021 $662,566 $265,616 $824,266 $396,950
Explore More Nonprofits
→Top 100 Nonprofits in New York →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare FRIENDS OF LEGACY INC with other nonprofits in New York and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.