Civic Intelligence

Legacy Charter School Support Corporation C/O Dentons

990 • Fiscal year 2016 • EIN 47-4535955

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 14, 2017

Organization ProfileN/A
233 SOUTH WACKER DRIVE No 5900Chicago, IL 60606

(312) 876-8000

Siviq Scores

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

Liabilities / Assets

88th percentile

0.86x

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

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

97th percentile

11.85x

Higher debt load relative to revenue than 97% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

99th percentile

96%

Higher net margin than 99% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

8th percentile

$51,648

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

100th percentile

2530010900%

Faster asset growth than 100% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$25,300,110

Up $25,300,109 (+2530010900%) from 2015

Net Assets

$3,450,110

No earlier filing loaded for comparison.

Liabilities

Up

$21,850,000

Up $21,850,000 from 2015

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin99th percentile

Revenue

Up

$1,843,949

Up $1,843,949 from 2015

Expenses

Up

$76,759

Up $76,759 from 2015

Net Income

Up

$1,767,190

Up $1,767,190 from 2015

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$30M$20M$10M$0-$10MAssets 2015: $1Liabilities 2015: $02015Assets 2016: $25,300,110Liabilities 2016: $21,850,000Net Assets 2016: $3,450,1102016Assets 2017: $27,047,553Liabilities 2017: $22,477,600Net Assets 2017: $4,569,9532017Assets 2018: $24,503,041Liabilities 2018: $21,348,608Net Assets 2018: $3,154,4332018Assets 2019: $23,493,703Liabilities 2019: $21,460,470Net Assets 2019: $2,033,2332019Assets 2020: $22,587,844Liabilities 2020: $21,572,334Net Assets 2020: $1,015,5102020Assets 2021: $21,678,069Liabilities 2021: $21,684,197Net Assets 2021: -$6,1282021Assets 2022: $20,852,745Liabilities 2022: $21,796,060Net Assets 2022: -$943,3152022Assets 2023: $381,762Liabilities 2023: $381,762Net Assets 2023: $02023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2016

Assets$25,300,110
Liabilities$21,850,000
Net Assets$3,450,110
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2015: $0Expenses 2015: $0Net Income 2015: $02015Revenue 2016: $1,843,949Expenses 2016: $76,759Net Income 2016: $1,767,1902016Revenue 2017: $618,941Expenses 2017: $176,980Net Income 2017: $441,9612017Revenue 2018: $722,145Expenses 2018: $2,137,665Net Income 2018: -$1,415,5202018Revenue 2019: $423,035Expenses 2019: $1,544,235Net Income 2019: -$1,121,2002019Revenue 2020: $424,843Expenses 2020: $1,442,566Net Income 2020: -$1,017,7232020Revenue 2021: $423,905Expenses 2021: $1,445,543Net Income 2021: -$1,021,6382021Revenue 2022: $509,366Expenses 2022: $1,446,553Net Income 2022: -$937,1872022Revenue 2023: $405,448Expenses 2023: $1,010,246Net Income 2023: -$604,7982023Revenue 2024: $0Expenses 2024: $0Net Income 2024: $02024

Highlighted filing

2016

Revenue$1,843,949
Expenses$76,759
Net Income$1,767,190
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 14, 2017
Return Version
2015v3.0
Gross Receipts
$1,843,949
Mission and Program Overview

Mission

Legacy charter school support corporation is a supporting organization of legacy charter school (the "school') and its sole purpose is to construct and lease a new school building to the school.

To support legacy charter school

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$16,823,778-
Land, Buildings, and Equipment, Net$0$7,408,801▲ $7,408,801
Accounts Receivable-$6,947-
Cash and Non-Interest-Bearing Accounts-$2,043-
Total Assets$0$25,300,110▲ $25,300,110
Other Assets Total$0$1,058,541▲ $1,058,541
Liabilities
Mortgage Notes Payable Secured by Investment Property-$21,850,000-
Total Liabilities$0$21,850,000▲ $21,850,000
Net Assets / Fund Balance
Unrestricted Net Assets-$3,450,110-
Total Net Assets Fund Balance$0$3,450,110▲ $3,450,110
Total Liabilities and Net Assets / Fund Balance$0$25,300,110▲ $25,300,110

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,955,977-$5,955,977
Land$1,452,824-$1,452,824
Compensation and Service Providers
Top Officer Pay8th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Andrew TobinTreasurerPT$51,648$51,648

Board Members and Trustees

NameTitle
Errol StoneChairman
Carolyn VesselVice Chairman
Susan LucasSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,834,185
Program Service Revenue
$0
Investment Income
$9,764
Other Revenue
$0
Change in Net Assets
$1,767,190
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$76,759
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$76,749-$76,749
Other Expenses-$10-$10
Total Functional Expenses$0$76,759$0$76,759
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 8B

“The organization does not have any committees with the authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, line 11

“A draft copy of form 990 is reviewed by the treasurer. An electronic version of form 990 is provided to board members for review prior to filing.”

Form 990, Part VI, Section B, line 12C

“the conflict of interest policy is given to board members yearly and a conflict of interest policy is also included in the personnel handbook given out at the start of each school year.”

Form 990, Part VI, Section C, line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Legacy Charter School Support
EIN
47-4535955
Phone
3128768000
Address
233 SOUTH WACKER DRIVE No 5900, CHICAGO, IL 60606

Signing Officer

Name
Andrew G Tobin
Title
Treasurer
Phone
7735421640
Signed
2017-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Errol L Stone
Formed
2015
Legal Domicile
Il
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Ostrow Reisin Berk & Abrams Ltd
Address
455 N Cityfront Plaza Dr Suite 1500, Chicago, IL 60611
Preparer
James G Quaid
Phone
3126707444
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Service fees: Program service expenses 0. Management and general expenses 76,749. Fundraising expenses 0. Total expenses 76,749.”

Form 990, Part XI, line 9:

“Capitalized contributed services 1,682,920.”

Financial Statement Notes

Part X, Line 2:

“Legacy charter school support corporation ("support corp") is a tax-exempt organization as described in section 501(c)(3) of the code and is exempt from federal income taxes on related income pursuant to section 501(a) of the code. Support corp is a type i supporting organization within the meaning of the code. Legacy charter school has adopted the requirements for accounting for uncertain tax positions and management has determined that support corp was not required to record a liability related to uncertain tax positions as of june 30, 2016 and 2015.”

Raw XML Appendix356 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0LEGACY CHARTER SCHOOL SUPPORT CORPORATION IS A SUPPORTING ORGANIZATION OF LEGACY CHARTER SCHOOL (THE "SCHOOL') AND ITS SOLE PURPOSE IS TO CONSTRUCT AND LEASE A NEW SCHOOL BUILDING TO THE SCHOOL.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LEGACY CHARTER SCHOOL SUPPORT CORPORATION ("SUPPORT CORP") IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. SUPPORT CORP IS A TYPE I SUPPORTING ORGANIZATION WITHIN THE MEANING OF THE CODE. LEGACY CHARTER SCHOOL HAS ADOPTED THE REQUIREMENTS FOR ACCOUNTING FOR UNCERTAIN TAX POSITIONS AND MANAGEMENT HAS DETERMINED THAT SUPPORT CORP WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2016 AND 2015.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A draft copy of form 990 is reviewed by the treasurer. An electronic version of form 990 is provided to board members for review prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2the conflict of interest policy is given to board members yearly and a conflict of interest policy is also included in the personnel handbook given out at the start of each school year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Service fees: Program service expenses 0. Management and general expenses 76,749. Fundraising expenses 0. Total expenses 76,749.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CAPITALIZED CONTRIBUTED SERVICES 1,682,920.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XI, line 9:
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
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IRS990ScheduleR/TransferFromOtherOrgInd00
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IRS990/TotalAssetsGrp/EOYAmt025300110
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01834185
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt076759
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IRS990/TotalFunctionalExpensesGrp/TotalAmt076759
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03450110
IRS990/TotalOtherCompensationAmt07894
IRS990/TotalProgramServiceExpensesAmt076759
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt09764
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01843949
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/WebsiteAddressTxt0N/A
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ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ANDREW G TOBIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum07735421640
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEGACY CHARTER SCHOOL SUPPORT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION C/O DENTONS
ReturnHeader/Filer/BusinessNameControlTxt0LEGA
ReturnHeader/Filer/EIN0474535955
ReturnHeader/Filer/PhoneNum03128768000
ReturnHeader/Filer/USAddress/AddressLine1Txt0233 SOUTH WACKER DRIVE No 5900
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0362938874
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Ostrow Reisin Berk & Abrams Ltd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0455 N Cityfront Plaza Dr Suite 1500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Chicago
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060611
ReturnHeader/PreparerPersonGrp/PhoneNum03126707444
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0James G Quaid
ReturnHeader/ReturnTs02017-02-15T08:34:23-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,300,110
Liabilities
$21,850,000
Net assets
$3,450,110
Revenue
$1,843,949
Expenses
$76,759
Net income
$1,767,190
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$0.38$0.38$0.00$0.41$1.01$0.60
2022Detailed filing. Detailed filing data is available for this year.$20.9$21.8$0.94$0.51$1.45$0.94
2021Detailed filing. Detailed filing data is available for this year.$21.7$21.7$0.01$0.42$1.45$1.02
2020Detailed filing. Detailed filing data is available for this year.$22.6$21.6$1.02$0.42$1.44$1.02
2019Detailed filing. Detailed filing data is available for this year.$23.5$21.5$2.03$0.42$1.54$1.12
2018Detailed filing. Detailed filing data is available for this year.$24.5$21.3$3.15$0.72$2.14$1.42
2017Detailed filing. Detailed filing data is available for this year.$27.0$22.5$4.57$0.62$0.18$0.44
2016Detailed filing. Detailed filing data is available for this year.$25.3$21.9$3.45$1.84$0.08$1.77
2015Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $25M-$50M nonprofits