Legacy Classical Academy

EIN: 871751287 501(c)(3) Education

Reidsville, NC

Total Revenue
$2,150,016
Total Expenses
$2,373,847
Total Assets
$7,571,655
Net Assets
$-335,301
🔒

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
2021
Legal Domicile
NC
Principal Officer
Kim Eaton
Phone
3365143054
Tax Period
2024-07-01 to 2025-06-30

Legacy Classical Academy, founded in 2021, is a community nonprofit in the Education sector that reported $2.2M in total revenue in fiscal year 2024. Revenue surged 91% from the prior year, signaling strong growth momentum. Expenses of $2.4M exceeded revenue, resulting in a 10% operating deficit.

Mission

Operate a Charter School

🔒

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 $2,100,661
Program Service Revenue $0
Investment Income $0
Other Revenue $49,355
TOTAL REVENUE $2,150,016

Expense Breakdown

Grants Paid $0
Salaries & Benefits $863,410
Fundraising Expenses $0
Program Expenses $962,341
Other Expenses $1,510,437
TOTAL EXPENSES $2,373,847

Year-over-Year Comparison

2024 2023 Change
Revenue $2,150,016 $1,124,374 +0.9%
Expenses $2,373,847 $1,113,268 +1.1%
Net Income $-223,831 $11,106 -21.2%
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
5
Independent Members
5
Employees
28
Volunteers
35

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
0
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BERNIE PARNELL CHAIRMAN 4.00
Director
$0 $0 $0
MELA TUCKER VICE CHAIRMAN 4.00
Director
$0 $0 $0
BRIAN HARBOUR MEMBER 4.00
Director
$0 $0 $0
ERICA BRANDON SECRETARY 4.00
Director
$0 $0 $0
KRISTI RAKES TREASURER 4.00
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 $2,150,016 $2,373,847 $7,571,655 $-223,831
2024 $1,124,374 $1,113,268 $71,637 $11,106
Explore More Nonprofits
→Top 100 Nonprofits in North Carolina →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare Legacy Classical Academy with other nonprofits in North Carolina 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.