Civic Intelligence

Legacy21 Inc.

990 • Fiscal year 2019 • EIN 27-4013601

Sep 01, 2018 to Aug 31, 2019 • Filed on Mar 10, 2020

Organization ProfileWWW.LEGACYPREPARATORY.COM

View Organization Page

9441 Lbj FreewayDallas, TX 75243

(469) 759-7529

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

90th percentile

0.93x

Higher debt load relative to assets than 90% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

88th percentile

2.53x

Higher debt load relative to revenue than 88% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Net Margin

25th percentile

-2.9%

Higher net margin than 25% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

30th percentile

$178,471

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Asset Growth

33rd percentile

0.4%

Faster asset growth than 33% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

58th percentile

6.3%

Faster revenue growth than 58% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$40,906,444

Up $164,853 (+0.4%) from 2018

Net Assets

Up

$3,059,198

Up $1,036,079 (+51%) from 2018

Liabilities

Down

$37,847,246

Down $871,226 (-2.3%) from 2018

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin25th percentile

Revenue

Up

$14,933,581

Up $881,318 (+6.3%) from 2018

Expenses

Up

$15,363,008

Up $2,539,455 (+20%) from 2018

Net Income

Down

-$429,427

Down $1,658,137 (-135%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0-$20MAssets 2014: $517,325Liabilities 2014: $966,392Net Assets 2014: -$449,0672014Assets 2015: $751,371Liabilities 2015: $912,399Net Assets 2015: -$161,0282015Assets 2016: $1,280,920Liabilities 2016: $1,212,446Net Assets 2016: $68,4742016Assets 2017: $2,262,543Liabilities 2017: $1,468,134Net Assets 2017: $794,4092017Assets 2018: $40,741,591Liabilities 2018: $38,718,472Net Assets 2018: $2,023,1192018Assets 2019: $40,906,444Liabilities 2019: $37,847,246Net Assets 2019: $3,059,1982019Assets 2020: $40,681,015Liabilities 2020: $38,110,690Net Assets 2020: $2,570,3252020Assets 2021: $40,270,776Liabilities 2021: $36,425,285Net Assets 2021: $3,845,4912021Assets 2022: $40,073,655Liabilities 2022: $35,644,391Net Assets 2022: $4,429,2642022Assets 2024: $36,474,367Liabilities 2024: $34,680,009Net Assets 2024: $1,794,3582024

Highlighted filing

2019

Assets$40,906,444
Liabilities$37,847,246
Net Assets$3,059,198
Open 2019 Filing

Operations Trend

Revenue Growth58th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MRevenue 2014: $8,584,233Expenses 2014: $8,801,522Net Income 2014: -$217,2892014Revenue 2015: $10,871,843Expenses 2015: $10,583,804Net Income 2015: $288,0392015Revenue 2016: $11,558,654Expenses 2016: $11,329,152Net Income 2016: $229,5022016Revenue 2017: $12,994,161Expenses 2017: $12,268,226Net Income 2017: $725,9352017Revenue 2018: $14,052,263Expenses 2018: $12,823,553Net Income 2018: $1,228,7102018Revenue 2019: $14,933,581Expenses 2019: $15,363,008Net Income 2019: -$429,4272019Revenue 2020: $17,941,832Expenses 2020: $18,430,705Net Income 2020: -$488,8732020Revenue 2021: $19,212,915Expenses 2021: $17,937,749Net Income 2021: $1,275,1662021Revenue 2022: $20,667,864Expenses 2022: $20,084,091Net Income 2022: $583,7732022Revenue 2024: $18,340,461Expenses 2024: $20,560,473Net Income 2024: -$2,220,0122024

Highlighted filing

2019

Revenue$14,933,581
Expenses$15,363,008
Net Income-$429,427
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2018 to Aug 31, 2019
Signed
Mar 10, 2020
Return Version
2018v3.1
Gross Receipts
$14,933,581
Mission and Program Overview

Mission

Charter school- legacy preparatory has established a taskforce of educators, parents, and citizens who earnestly desire for students to receive a relevant and meaningful education.

The vision of Legacy Preparatory Charter Academy is that all LPCA schools will serve as a model school of excellence, addressing the needs of all school community stakeholders. The mission of Legacy Preparatory Charter Academy is to prepare all scholars to be college and career ready by giving them ownership of their own learning through the development of intellectual and emotional independence while instilling the values needed to propel them into becoming successful 21st century leaders.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$28,446,913$34,701,390▲ $6,254,477
Cash and Non-Interest-Bearing Accounts$10,243,832$3,907,004▼ $6,336,828
Accounts Receivable$88,457$1,740,323▲ $1,651,866
Savings and Temporary Cash Investments$1,961,734$550,158▼ $1,411,576
Prepaid Expenses and Deferred Charges-$6,914-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$40,741,591$40,906,444▲ $164,853
Other Assets Total$655$655→ $0
Liabilities
Tax Exempt Bond Liabilities$36,519,627$36,896,318▲ $376,691
Mortgage Notes Payable Secured by Investment Property$850,594$785,767▼ $64,827
Accounts Payable and Accrued Expenses$1,348,251$165,161▼ $1,183,090
Total Liabilities$38,718,472$37,847,246▼ $871,226
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,021,113$2,263,719▲ $242,606
Unrestricted Net Assets$2,006$795,479▲ $793,473
Total Net Assets Fund Balance$2,023,119$3,059,198▲ $1,036,079
Total Liabilities and Net Assets / Fund Balance$40,741,591$40,906,444▲ $164,853

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$30,563,308$1,178,953$31,742,261
Land$2,959,123-$2,959,123
Other Land Buildings$1,178,959$668,481$1,847,440
Compensation and Service Providers
Top Officer Pay30th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Rebecca GoodSuperintendentFT$155,541$22,930$178,471
Angela WillisDirector of FinanceFT$100,795$5,334$106,129

Board Members and Trustees

NameTitle
Byron RicksBoard President
Megan BauerBoard Member
John Ting-thru 72019Secretary
Marc DesgravesTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Hill & Wilkinson Construction Grp LtdConstruction2703 TELECOM PARKWAY, Richardson, TX 75082$6,692,581
Parkhill Smith & CooperEngineering3000 INTERNET BLVD 550, Frisco, TX 75034$725,804
Preferred Meal Systems INCFood Service4135 BIRNEY AVENUE, Moosic, PA 18507$425,409
Amdg ConsultantsConstruction Design8711 S FM 148, Scurry, TX 75158$332,203
Sharp Business SystemsNetwork Services1880 CROWN DRIVE 1210, Farmers Branch, TX 75234$165,030
Revenue and Support

Revenue Composition

Contributions and Grants
$14,568,047
Program Service Revenue
$346,944
Investment Income
$10,000
Other Revenue
$8,590
Change in Net Assets
$-429,427

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,933,581
Total Revenue per Audited Statements
$14,933,581
Total Revenue per Form 990
$14,933,581
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,269,690
Other Expenses$6,093,318
Total Fundraising Expense$5,309
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,751,193$1,420,789$3,000$8,174,982
Interest$1,654,597$435,860-$2,090,457
Fees for Services Other$1,100,114$362,119-$1,462,233
Depreciation Depletion$846,219$222,914-$1,069,133
Occupancy$345,445$180,193-$525,638
Other Employee Benefits$384,899$85,271-$470,170
Current Officers, Directors, Trustees, and Key Employees$174,484$116,323-$290,807
Pension Plan Contributions$179,980$37,537$64$217,581
Payroll Taxes$94,583$21,528$39$116,150
Travel$72,495$33,356-$105,851
Insurance$82,000$9,873-$91,873
Fees for Services Legal-$78,968-$78,968
All Other Expenses$21,255$13,753-$35,008
Other Expenses$29,321$38,691$2,206$29,321
Fees for Services Accounting-$25,000-$25,000
Total Functional Expenses$12,155,172$3,202,527$5,309$15,363,008

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$15,363,008
Total Expenses per Audited Statements$15,363,008
Total Expenses per Form 990$15,363,008
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANew Hope Cultural Ed Facs2018-02-21$36,920,000Facilities and improvements

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$37,244,205--$738,384

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The organization's final form 990 including required schedules are distributed to each board member for review prior to the required filing date.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The organization's conflict of interest policy requires that each member of the board and employees comply with all applicable conflict of interest laws and rules. An individual is prohibited from participating in an administrative decision regarding a project funded through csp or federal funds if the decision is likely to benefit that person or an immediate family member. The superintendent shall ensure that all employees are in compliance with all conflict of interest laws and rules.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Compensation for the organization's superintendent and principal is determined after comprehensive searches of other comparable positions. The board's decisions are approved and documented contemporaneously.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Legacy21 Inc
EIN
27-4013601
Phone
4697597529
Address
9441 LBJ FREEWAY, DALLAS, TX 75243

Signing Officer

Name
Dr Rebecca Good
Title
Superintendent
Signed
2020-03-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Rebecca Good
Formed
2010
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
285
Volunteers
100

Preparer

Firm
Sutton Frost Cary LLP
Address
600 Six Flags Dr Suite 600, Arlington, TX 76011
Preparer
Kimberly D Crawford
Phone
8176498083
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The Academy is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code (Code) and has not been classified as a private foundation as defined in the Code. Income generated from activities unrelated to the Academys exempt purposes is subject to tax under Code Section 511. The Academy had no unrelated business income for the year ended August 31, 2019. Accordingly, no provision has been made for federal income tax. GAAP requires the evaluation of tax positions taken in the course of preparing the Academys tax returns and recognition of a tax liability (or asset) if the Academy has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the Academy, and has concluded that as of August 31, 2019, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.”

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IRS990/Desc0ACADEMIC PROGRAM- LEGACY PREPARATORY IS A STATE ACCREDITED CHARTER SCHOOL DISTRICT THAT OPERATES KINDERGARTEN THROUGH NINTH GRADE. LEGACY OFFERS AN INNOVATIVE APPROACH TO INSTRUCTION AND CULTURE BY PROVIDING ITS STUDENTS WITH THE SMART USE OF TECHNOLOGY AND UNLIMITED ACCESS TO ONLINE RESOURCE SUPPORT. WITH THE LATEST IN COLLABORATIVE LEARNING TECHNOLOGY, LEGACY IS LASER FOCUSED ON ONE THING: TO PREPARE STUDENTS FOR A COLLEGE AND CAREER-READY FUTURE.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIR. OF FINANCE
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IRS990/GrantsToOrganizationsInd0false
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IRS990/InsuranceGrp/ManagementAndGeneralAmt09873
IRS990/InsuranceGrp/ProgramServicesAmt082000
IRS990/InsuranceGrp/TotalAmt091873
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/ManagementAndGeneralAmt0435860
IRS990/InterestGrp/ProgramServicesAmt01654597
IRS990/InterestGrp/TotalAmt02090457
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt010000
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt010000
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0The vision of Legacy Preparatory Charter Academy is that all LPCA schools will serve as a model school of excellence, addressing the needs of all school community stakeholders. The mission of Legacy Preparatory Charter Academy is to prepare all scholars to be college and career ready by giving them ownership of their own learning through the development of intellectual and emotional independence while instilling the values needed to propel them into becoming successful 21st century leaders.
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt08590
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt0180193
IRS990/OccupancyGrp/ProgramServicesAmt0345445
IRS990/OccupancyGrp/TotalAmt0525638
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
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IRS990/OtherAssetsTotalGrp/EOYAmt0655
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt085271
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0384899
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0470170
IRS990/OtherExpensesGrp/Desc0GENERAL SUPPLIES
IRS990/OtherExpensesGrp/Desc1MISC OPERATING COSTS
IRS990/OtherExpensesGrp/Desc2TEXTBOOKS & TESTING MATERIALS
IRS990/OtherExpensesGrp/Desc3FOOD
IRS990/OtherExpensesGrp/FundraisingAmt02206
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0120352
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt138691
IRS990/OtherExpensesGrp/ProgramServicesAmt0195994
IRS990/OtherExpensesGrp/ProgramServicesAmt1151157
IRS990/OtherExpensesGrp/ProgramServicesAmt271436
IRS990/OtherExpensesGrp/ProgramServicesAmt329321
IRS990/OtherExpensesGrp/TotalAmt0318552
IRS990/OtherExpensesGrp/TotalAmt1189848
IRS990/OtherExpensesGrp/TotalAmt271436
IRS990/OtherExpensesGrp/TotalAmt329321
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt03000
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt01420789
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt06751193
IRS990/OtherSalariesAndWagesGrp/TotalAmt08174982
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt039
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt021528
IRS990/PayrollTaxesGrp/ProgramServicesAmt094583
IRS990/PayrollTaxesGrp/TotalAmt0116150
IRS990/PensionPlanContributionsGrp/FundraisingAmt064
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt037537
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0179980
IRS990/PensionPlanContributionsGrp/TotalAmt0217581
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt06914
IRS990/PrincipalOfficerNm0DR REBECCA GOOD
IRS990/PriorPeriodAdjustmentsAmt01465506
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/Desc0LOCAL SUPPORT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0346944
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0346944
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt05990
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt04732005
IRS990/PYProgramServiceRevenueAmt014046273
IRS990/PYRevenuesLessExpensesAmt01228710
IRS990/PYSalariesCompEmpBnftPaidAmt08091548
IRS990/PYTotalExpensesAmt012823553
IRS990/PYTotalRevenueAmt014052263
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-429427
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt08590
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0346944
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01961734
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0550158
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt030563308
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01178953
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt031742261
IRS990ScheduleD/ExpensesSubtotalAmt015363008
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt02959123
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02959123
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01178959
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0668481
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01847440
IRS990ScheduleD/RevenueSubtotalAmt014933581
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Academy is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code (Code) and has not been classified as a private foundation as defined in the Code. Income generated from activities unrelated to the Academys exempt purposes is subject to tax under Code Section 511. The Academy had no unrelated business income for the year ended August 31, 2019. Accordingly, no provision has been made for federal income tax. GAAP requires the evaluation of tax positions taken in the course of preparing the Academys tax returns and recognition of a tax liability (or asset) if the Academy has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the Academy, and has concluded that as of August 31, 2019, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalExpensesPerForm990Amt015363008
IRS990ScheduleD/TotalRevenuePerForm990Amt014933581
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt014933581
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt015363008
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0IN THE SCHOOL'S HANDBOOK AND THE FACT THEY ARE A PUBLIC SCHOOL IT IS DISCLOSED THEY HAVE A RACIALLY NONDISCRIMINATORY POLICY.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1STATE PROGRAM REVENUES DISTRIBUTED BY TEA.FEDERAL PROGRAM REVENUES DISTRIBUTED BY TEA.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990ScheduleJ/RebuttablePresumptionProcInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$40,906,444
Liabilities
$37,847,246
Net assets
$3,059,198
Revenue
$14,933,581
Expenses
$15,363,008
Net income
-$429,427
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.5$34.7$1.79$18.3$20.6$2.22
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$40.1$35.6$4.43$20.7$20.1$0.58
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$40.3$36.4$3.85$19.2$17.9$1.28
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$40.7$38.1$2.57$17.9$18.4$0.49
2019Detailed filing. Detailed filing data is available for this year.$40.9$37.8$3.06$14.9$15.4$0.43
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.7$38.7$2.02$14.1$12.8$1.23
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.26$1.47$0.79$13.0$12.3$0.73
2016Detailed filing. Detailed filing data is available for this year.$1.28$1.21$0.07$11.6$11.3$0.23
2015Detailed filing. Detailed filing data is available for this year.$0.75$0.91$0.16$10.9$10.6$0.29
2014Detailed filing. Detailed filing data is available for this year.$0.52$0.97$0.45$8.58$8.80$0.22