Civic Intelligence

Legacy Academy

990 • Fiscal year 2023 • EIN 84-1413963

Jul 01, 2022 to Jun 30, 2023 • Filed on Feb 28, 2024

Organization Profilewww.legacyk8.org
1975 Legacy CircleElizabeth, CO 80107

(303) 646-2636

Siviq Scores

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

Liabilities / Assets

97th percentile

1.19x

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

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

91st percentile

2.68x

Higher debt load relative to revenue than 91% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

45th percentile

2.1%

Higher net margin than 45% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

18th percentile

$71,966

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

44th percentile

4.1%

Faster asset growth than 44% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

21st percentile

-13%

Faster revenue growth than 21% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$12,771,837

Up $506,076 (+4.1%) from 2022

Net Assets

Up

-$2,404,279

Up $119,099 (+4.7%) from 2022

Liabilities

Up

$15,176,116

Up $386,977 (+2.6%) from 2022

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin45th percentile

Revenue

Down

$5,652,405

Down $868,677 (-13%) from 2022

Expenses

Up

$5,533,306

Up $715,331 (+15%) from 2022

Net Income

Down

$119,099

Down $1,584,008 (-93%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

$20M$10M$0-$10MAssets 2011: $6,787,618Liabilities 2011: $5,926,231Net Assets 2011: $861,3872011Assets 2012: $6,820,085Liabilities 2012: $6,369,512Net Assets 2012: $450,5732012Assets 2013: $6,747,893Liabilities 2013: $6,067,037Net Assets 2013: $680,8562013Assets 2014: $6,256,636Liabilities 2014: $5,729,094Net Assets 2014: $527,5422014Assets 2015: $6,406,060Liabilities 2015: $10,361,998Net Assets 2015: -$3,955,9382015Assets 2016: $6,827,812Liabilities 2016: $10,996,861Net Assets 2016: -$4,169,0492016Assets 2017: $10,148,156Liabilities 2017: $15,479,809Net Assets 2017: -$5,331,6532017Assets 2018: $10,003,729Liabilities 2018: $17,171,021Net Assets 2018: -$7,167,2922018Assets 2019: $12,777,503Liabilities 2019: $19,478,277Net Assets 2019: -$6,700,7742019Assets 2020: $12,974,648Liabilities 2020: $18,681,800Net Assets 2020: -$5,707,1522020Assets 2021: $12,732,692Liabilities 2021: $16,959,177Net Assets 2021: -$4,226,4852021Assets 2022: $12,265,761Liabilities 2022: $14,789,139Net Assets 2022: -$2,523,3782022Assets 2023: $12,771,837Liabilities 2023: $15,176,116Net Assets 2023: -$2,404,2792023Assets 2024: $4,864,383Liabilities 2024: $7,887,336Net Assets 2024: -$3,022,9532024Assets 2025: $4,064,998Liabilities 2025: $7,495,604Net Assets 2025: -$3,430,6062025

Highlighted filing

2023

Assets$12,771,837
Liabilities$15,176,116
Net Assets-$2,404,279
Open 2023 Filing

Operations Trend

Revenue Growth21st percentile

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

$10M$5.0M$0-$5.0MRevenue 2011: $2,267,700Expenses 2011: $2,500,080Net Income 2011: -$232,3802011Revenue 2012: $3,020,694Expenses 2012: $3,431,508Net Income 2012: -$410,8142012Revenue 2013: $3,044,820Expenses 2013: $2,814,537Net Income 2013: $230,2832013Revenue 2014: $2,881,517Expenses 2014: $2,885,892Net Income 2014: -$4,3752014Revenue 2015: $2,947,124Expenses 2015: $3,204,053Net Income 2015: -$256,9292015Revenue 2016: $3,152,384Expenses 2016: $3,365,495Net Income 2016: -$213,1112016Revenue 2017: $3,563,744Expenses 2017: $4,701,316Net Income 2017: -$1,137,5722017Revenue 2018: $3,652,329Expenses 2018: $5,251,681Net Income 2018: -$1,599,3522018Revenue 2019: $4,201,075Expenses 2019: $3,734,557Net Income 2019: $466,5182019Revenue 2020: $5,128,026Expenses 2020: $4,134,404Net Income 2020: $993,6222020Revenue 2021: $5,616,648Expenses 2021: $4,135,981Net Income 2021: $1,480,6672021Revenue 2022: $6,521,082Expenses 2022: $4,817,975Net Income 2022: $1,703,1072022Revenue 2023: $5,652,405Expenses 2023: $5,533,306Net Income 2023: $119,0992023Revenue 2024: $5,946,960Expenses 2024: $6,092,479Net Income 2024: -$145,5192024Revenue 2025: $6,772,143Expenses 2025: $7,179,796Net Income 2025: -$407,6532025

Highlighted filing

2023

Revenue$5,652,405
Expenses$5,533,306
Net Income$119,099
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Feb 28, 2024
Return Version
2022v5.0
Gross Receipts
$5,655,735
Mission and Program Overview

Mission

The mission of Legacy Academy is to guide students in the development of their character and academic potential through an academically rigorous, content-rich environment.

See Schedule O.The mission of Legacy Academy is to guide students in the development of their character and academic potential through an academically rigorous, content-rich environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,838,969$8,564,921▼ $274,048
Savings and Temporary Cash Investments$2,173,120$2,572,262▲ $399,142
Prepaid Expenses and Deferred Charges$1,162,475$1,405,980▲ $243,505
Cash and Non-Interest-Bearing Accounts$75,167$219,287▲ $144,120
Pd in Cap Srpls Land Bldg Eqp Fund$148,092$112,547▼ $35,545
Accounts Receivable$16,030$9,387▼ $6,643
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$-2,671,470$-2,516,826▲ $154,644
Total Assets$12,265,761$12,771,837▲ $506,076
Liabilities
Tax Exempt Bond Liabilities$8,782,071$8,539,422▼ $242,649
Other Liabilities$5,734,831$6,320,275▲ $585,444
Accounts Payable and Accrued Expenses$211,051$253,965▲ $42,914
Deferred Revenue$61,186$62,454▲ $1,268
Total Liabilities$14,789,139$15,176,116▲ $386,977
Net Assets / Fund Balance
Total Net Assets Fund Balance$-2,523,378$-2,404,279▲ $119,099
Total Liabilities and Net Assets / Fund Balance$12,265,761$12,771,837▲ $506,076

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,946,592$2,774,050$10,720,642
Equipment$271,329$202,469$473,798
Land$347,000-$347,000
Compensation and Service Providers
Top Officer Pay18th percentile

Employees

NameTitleBaseTotal
Tony VrugginkPrincipal$71,966$71,966

Board Members and Trustees

NameTitle
Matt LedesmaPresident
Chris WendelDirector
Kristal WatsonDirector
Thomas HolmDirector
Megan DeckerSecretary
Matt FonteTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$723,251
Program Service Revenue
$4,827,339
Investment Income
$87,647
Other Revenue
$14,168
All Other Contributions
$35,903
Change in Net Assets
$119,099

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,652,405
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$3,330
Total Revenue per Audited Statements
$5,655,735
Total Revenue per Form 990
$5,652,405
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,217,545
Other Expenses$2,315,761
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$1,897,879$598,166-$2,496,045
Fees for Services Other$692,794$282,806-$975,600
Pension Plan Contributions$297,183$93,665-$390,848
Interest$293,019$97,673-$390,692
Depreciation Depletion$228,151$76,050-$304,201
Other Employee Benefits$118,970$181,838-$300,808
Occupancy$142,047$47,349-$189,396
Information Technology$125,564--$125,564
Fees for Services Legal-$56,228-$56,228
Insurance$25,733$8,578-$34,311
Payroll Taxes$22,692$7,152-$29,844
Office Expenses$5,750$21,517-$27,267
Travel$10,766$15,694-$26,460
Advertising-$13,924-$13,924
All Other Expenses$1,480$9,162-$10,642
Fees for Services Accounting-$10,400-$10,400
Other Expenses$2,411$60,683-$2,411
Total Functional Expenses$3,952,421$1,580,885$0$5,533,306

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,536,636
Expenses per Audited Statements$5,533,306
Total Expenses per Form 990$5,533,306
Expenses Not Reported on Form 990$3,330
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$3,381
Fundraising Direct Expenses$3,330
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Net Pension Liability - GASB 68$5,308,863
Pensions - Deferred Inflows - GASB 68$766,936
Net OPEB Liability - GASB 68$180,735
OPEB - Deferred Inflows - GASB 68$63,741

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACo Edu and Cult Fac Auth2019-04-04$9,500,000Outstanding debts & construct

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$9,500,000--$242,959

Bond Financing Compliance

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

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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
Yes
Other officer compensation reviewed
No
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, Section A, line 6

“Line 6 explanation - Parents elect the School Board of Directors.”

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

“Line 8 Explanation - There are no committees with the authority to act on behalf of the Board.”

Form 990, Part VI, Section B, line 11B

“Legacy Academy distributes the draft Form 990 to be reviewed by a committee of the board president, treasurer, and outside business consultant (contractor, not employee).”

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

“The District's board policies are followed. In addition, we have language related to conflicts of interest under our board policy (GP#6) which is reviewed by the Board at least once per year (per the schedule in the board calendar). Elizabeth C-1 School Board Governance Policies - http://elizabeth.k12.co.us/BoardPolicies.aspx”

Form 990, Part VI, Section B, line 15A

“Board compensation is addressed under section 2.5 of the bylaws. Principal compensation could be covered under GP #1.b, GP #8. The monitoring/review would fall under GP #5.”

Form 990, Part VI, Section C, line 19

“Legacy Academy makes its governing documents and conflict of interest policy available on request and posts the financial statements on its website to be available to the public.”

Filing and Contact Details

Filer

Filer Name
Legacy Academy
EIN
84-1413963
Phone
3036462636
Address
1975 Legacy Circle, Elizabeth, CO 80107

Signing Officer

Name
Matt Ledesma
Title
President
Phone
3036462636
Signed
2024-02-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matt Ledesma
Formed
1997
Legal Domicile
Co
Voting Board Members
6
Independent Board Members
6
Employees
109
Volunteers
200

Preparer

Firm
Hinkle & Company PC
Address
5028 E 101st Street, Tulsa, OK 74137
Preparer
James D Hinkle
Phone
9184923388
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Other Purchased Services: Program service expenses 127,332. Management and general expenses 282,806. Fundraising expenses 0. Total expenses 410,138. Pension Accrual Adjustment: Program service expenses 565,462. Management and general expenses 0. Fundraising expenses 0. Total expenses 565,462.”

Form 990, Part XII, Line 2C

“The Academy has not changed its oversight or selection process during the year.”

Financial Statement Notes

Part XI, Line 2D - Other Adjustments:

“Direct Fundraising Costs 3,330.”

Part XI, Line 4B - Other Adjustments:

“Pension Accrual Adjustment”

Part XII, Line 2D - Other Adjustments:

“Direct Fundraising Costs 3,330.”

Part XII, Line 4B - Other Adjustments:

“Pension Accrual Adjustment”

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IRS990/Desc0Provide education to students in K-8th grade, benefiting approximately 510 students, including a Before & After Program at school and a homeschool program.
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IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt03900
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt03900
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt047349
IRS990/OccupancyGrp/ProgramServicesAmt0142047
IRS990/OccupancyGrp/TotalAmt0189396
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt021517
IRS990/OfficeExpensesGrp/ProgramServicesAmt05750
IRS990/OfficeExpensesGrp/TotalAmt027267
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd01
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0181838
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0118970
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0300808
IRS990/OtherExpensesGrp/Desc0Supplies, Books, Online
IRS990/OtherExpensesGrp/Desc1Non-Capitalized Equipme
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt060683
IRS990/OtherExpensesGrp/ProgramServicesAmt087982
IRS990/OtherExpensesGrp/ProgramServicesAmt12411
IRS990/OtherExpensesGrp/TotalAmt0148665
IRS990/OtherExpensesGrp/TotalAmt12411
IRS990/OtherLiabilitiesGrp/BOYAmt05734831
IRS990/OtherLiabilitiesGrp/EOYAmt06320275
IRS990/OtherRevenueTotalAmt010217
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07152
IRS990/PayrollTaxesGrp/ProgramServicesAmt022692
IRS990/PayrollTaxesGrp/TotalAmt029844
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt0148092
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0112547
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt093665
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0297183
IRS990/PensionPlanContributionsGrp/TotalAmt0390848
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01162475
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01405980
IRS990/PrincipalOfficerNm0Matt Ledesma
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/BusinessCd3611710
IRS990/ProgramServiceRevenueGrp/BusinessCd4611710
IRS990/ProgramServiceRevenueGrp/Desc0Per Pupil Revenue
IRS990/ProgramServiceRevenueGrp/Desc1Mill Levy Revenue
IRS990/ProgramServiceRevenueGrp/Desc2Student Fees
IRS990/ProgramServiceRevenueGrp/Desc3Tuition
IRS990/ProgramServiceRevenueGrp/Desc4Transportation
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt04339300
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1334147
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt293523
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt341240
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt419129
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt04339300
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1334147
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt293523
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt341240
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt419129
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0484189
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt024469
IRS990/PYOtherExpensesAmt01916349
IRS990/PYOtherRevenueAmt01477498
IRS990/PYProgramServiceRevenueAmt04534926
IRS990/PYRevenuesLessExpensesAmt01703107
IRS990/PYSalariesCompEmpBnftPaidAmt02901626
IRS990/PYTotalExpensesAmt04817975
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt06521082
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0119099
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt03900
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt04841456
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02173120
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02572262
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt07946592
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02774050
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010720642
IRS990ScheduleD/EquipmentGrp/BookValueAmt0271329
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0202469
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0473798
IRS990ScheduleD/ExpensesNotReportedAmt03330
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt05533306
IRS990ScheduleD/LandGrp/BookValueAmt0347000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0347000
IRS990ScheduleD/OtherExpensesIncludedAmt03330
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05308863
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1766936
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2180735
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt363741
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Net Pension Liability - GASB 68
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Pensions - Deferred Inflows - GASB 68
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Net OPEB Liability - GASB 68
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3OPEB - Deferred Inflows - GASB 68
IRS990ScheduleD/OtherRevenueAmt03330
IRS990ScheduleD/RevenueNotReportedAmt03330
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt05652405
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Direct Fundraising Costs 3,330.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Pension Accrual Adjustment
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Direct Fundraising Costs 3,330.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Pension Accrual Adjustment
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 4b - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Part XII, Line 4b - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08564921
IRS990ScheduleD/TotalExpensesPerForm990Amt05533306
IRS990ScheduleD/TotalLiabilityAmt06320275
IRS990ScheduleD/TotalRevenuePerForm990Amt05652405
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05655735
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05536636
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0In accordance with all Elizabeth C-1 policies, Legacy Academy does not radically discriminate against students and publicizes this policy on all flyers, enrollment forms, and on the website.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Line 6a - Per pupil revenue and various grant money is received from the State of Colorado, the Colorado Department of Education, and the Colorado Department of Health Services.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GICProviderName/BusinessNameLine1Txt0IXIS Funding Corp
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RegulatorySafeHarborStsfdInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/TermOfGICPct030.500000000000
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02019-04-04
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0840896727
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt09500000
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0Co Edu and Cult Fac Auth
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0Outstanding debts & construct
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt0657038
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0242959
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt09500000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Line 6 explanation - Parents elect the School Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Line 8 Explanation - There are no committees with the authority to act on behalf of the Board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Legacy Academy distributes the draft Form 990 to be reviewed by a committee of the board president, treasurer, and outside business consultant (contractor, not employee).

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,771,837
Liabilities
$15,176,116
Net assets
-$2,404,279
Revenue
$5,652,405
Expenses
$5,533,306
Net income
$119,099
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.06$7.50$3.43$6.77$7.18$0.41
2024Detailed filing. Detailed filing data is available for this year.$4.86$7.89$3.02$5.95$6.09$0.15
2023Detailed filing. Detailed filing data is available for this year.$12.8$15.2$2.40$5.65$5.53$0.12
2022Detailed filing. Detailed filing data is available for this year.$12.3$14.8$2.52$6.52$4.82$1.70
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.7$17.0$4.23$5.62$4.14$1.48
2020Detailed filing. Detailed filing data is available for this year.$13.0$18.7$5.71$5.13$4.13$0.99
2019Detailed filing. Detailed filing data is available for this year.$12.8$19.5$6.70$4.20$3.73$0.47
2018Detailed filing. Detailed filing data is available for this year.$10.0$17.2$7.17$3.65$5.25$1.60
2017Detailed filing. Detailed filing data is available for this year.$10.1$15.5$5.33$3.56$4.70$1.14
2016Summary only. Only limited summary data is available for this year.$6.83$11.0$4.17$3.15$3.37$0.21
2015Summary only. Only limited summary data is available for this year.$6.41$10.4$3.96$2.95$3.20$0.26
2014Summary only. Only limited summary data is available for this year.$6.26$5.73$0.53$2.88$2.89$0.00
2013Summary only. Only limited summary data is available for this year.$6.75$6.07$0.68$3.04$2.81$0.23
2012Summary only. Only limited summary data is available for this year.$6.82$6.37$0.45$3.02$3.43$0.41
2011Summary only. Only limited summary data is available for this year.$6.79$5.93$0.86$2.27$2.50$0.23