Civic Intelligence

Legacy Schools

990 • Fiscal year 2015 • EIN 86-1009613

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 18, 2016

Organization Profile
7420 E Main StreetMesa, AZ 85207

(480) 981-1500

Siviq Scores

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

Liabilities / Assets

99th percentile

4.18x

Higher debt load relative to assets than 99% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

77th percentile

0.53x

Higher debt load relative to revenue than 77% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

15th percentile

-18%

Higher net margin than 15% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

1st percentile

-70%

Faster asset growth than 1% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

17th percentile

-16%

Faster revenue growth than 17% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$203,841

Down $467,341 (-70%) from 2014

Net Assets

Down

-$648,626

Down $284,012 (-78%) from 2014

Liabilities

Down

$852,467

Down $183,329 (-18%) from 2014

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin15th percentile

Revenue

Down

$1,616,135

Down $317,240 (-16%) from 2014

Expenses

Down

$1,900,148

Down $157,671 (-7.7%) from 2014

Net Income

Down

-$284,013

Down $159,569 (-128%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MAssets 2011: $457,220Liabilities 2011: $423,533Net Assets 2011: $33,6872011Assets 2012: $702,784Liabilities 2012: $646,386Net Assets 2012: $56,3982012Assets 2013: $810,588Liabilities 2013: $1,215,902Net Assets 2013: -$405,3142013Assets 2014: $671,182Liabilities 2014: $1,035,796Net Assets 2014: -$364,6142014Assets 2015: $203,841Liabilities 2015: $852,467Net Assets 2015: -$648,6262015Assets 2016: $288,177Liabilities 2016: $700,690Net Assets 2016: -$412,5132016

Highlighted filing

2015

Assets$203,841
Liabilities$852,467
Net Assets-$648,626
Open 2015 Filing

Operations Trend

Revenue Growth17th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $2,810,823Expenses 2011: $2,862,867Net Income 2011: -$52,0442011Revenue 2012: $2,115,326Expenses 2012: $2,265,093Net Income 2012: -$149,7672012Revenue 2013: $2,210,787Expenses 2013: $2,473,490Net Income 2013: -$262,7032013Revenue 2014: $1,933,375Expenses 2014: $2,057,819Net Income 2014: -$124,4442014Revenue 2015: $1,616,135Expenses 2015: $1,900,148Net Income 2015: -$284,0132015Revenue 2016: $1,357,145Expenses 2016: $1,120,765Net Income 2016: $236,3802016

Highlighted filing

2015

Revenue$1,616,135
Expenses$1,900,148
Net Income-$284,013
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 18, 2016
Return Version
2014v6.0
Gross Receipts
$1,626,113
Mission and Program Overview

Mission

Provide education for students grade K-8

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$253,615$258,473▲ $4,858
Land, Buildings, and Equipment, Net$137,900$97,614▼ $40,286
Prepaid Expenses and Deferred Charges-$43,138-
Cash and Non-Interest-Bearing Accounts$99,732$32,094▼ $67,638
Accounts Receivable$4,852$9,715▲ $4,863
Total Assets$671,182$203,841▼ $467,341
Other Assets Total$428,698$21,280▼ $407,418
Liabilities
Accounts Payable and Accrued Expenses$708,881$440,285▼ $268,596
Deferred Revenue-$80,356-
Other Liabilities$73,300$73,353▲ $53
Total Liabilities$1,035,796$852,467▼ $183,329
Net Assets / Fund Balance
Unrestricted Net Assets$-364,614$-648,626▼ $284,012
Total Net Assets Fund Balance$-364,614$-648,626▼ $284,012
Total Liabilities and Net Assets / Fund Balance$671,182$203,841▼ $467,341

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$85,547$266,642$352,189
Equipment$12,067$307,615$319,682
Other Land Buildings-$10,470$10,470
Other Assets Org$21,280--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Rod TolmanPresident
Jason KotterDirector
Jerry HawsDirector
Julie ClementDirector
Julie HatchDirector
Kathy TolmanDirector
Mike ClementDirector
Shauna HartDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,175
Program Service Revenue
$1,589,044
Investment Income
$-4,978
Other Revenue
$30,894
All Other Contributions
$1,175
Change in Net Assets
$-284,013

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,616,135
Revenue Not Reported on Form 990
$4,978
Total Revenue per Audited Statements
$1,621,113
Total Revenue per Form 990
$1,616,135
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,138,781
Salaries, Compensation, and Employee Benefits$761,367
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$626,871$110,624-$737,495
Occupancy$420,443$74,196-$494,639
Other Expenses$215,661$5,778-$215,661
All Other Expenses$80,438$25,866-$106,304
Depreciation Depletion$28,444$5,758-$34,202
Insurance$22,435$3,959-$26,394
Interest-$23,902-$23,902
Other Employee Benefits$20,291$3,581-$23,872
Fees for Services Accounting$8,500$1,500-$10,000
Fees for Services Legal$7,392$1,300-$8,692
Travel$350$62-$412
Office Expenses$326$57-$383
Advertising$315$56-$371
Total Functional Expenses$1,616,614$283,534$0$1,900,148

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,906,902
Total Expenses per Form 990$1,900,148
Expenses per Audited Statements$1,898,567
Expenses Not Reported on Form 990$8,335
Expenses Not Reported on Financial Statements$1,581
Other Expense Adjustments$1,581
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Board Mamber of Legacy Schools, Inc.Rent PaidNo$494,639

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$253,615$258,473▲ $4,858
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$40,286
Federal income taxes$33,067
Obligations Under Capital Lease-
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
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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, Section B, Line 11

“The executive director reviews and presents 990 to the BOD for approval.”

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

“Management and staff report potential conflicts to BOD for action as needed.”

Form 990, Part VI, Section B, Line 15

“BOD sets compensation based upon comparable local pay rates.”

Form 990, Part VI, Section C, Line 18

“Upon request.”

Form 990, Part VI, Section C, Line 19

“Upon request.”

Filing and Contact Details

Filer

Filer Name
Legacy Schools Inc
EIN
86-1009613
Phone
4809811500
Address
7420 E Main Street, Mesa, AZ 85207

Signing Officer

Name
Kathy Tolman
Title
President
Signed
2016-02-18
Discuss with paid preparer
No

Organization Details

Formed
2000
Legal Domicile
Az
Voting Board Members
8
Independent Board Members
5
Employees
46

Preparer

Firm
Darin Guthrie CPA PLLC
Address
5956 E Pima Street Suite 120, Tucson, AZ 85712
Preparer
Kenneth R Scott CPA
Phone
5202074518
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“BOD reviews and approves the audit.”

Form 990, Part XI, Line 9

“Rounding adjustment.”

Financial Statement Notes

XII 4B

“Book to tax difference in depreciation.”

XI 2D

“Book to tax difference in the loss on the sale of assets.”

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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/PYSalariesCompEmpBnftPaidAmt01063647
IRS990/PYTotalExpensesAmt02057819
IRS990/PYTotalRevenueAmt01933375
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-284013
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01619938
IRS990/RoyaltiesGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01589044
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02154445
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt02111899
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02810823
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt010561851
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt04707
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt08349
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0330
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt013386
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt030894
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt033028
IRS990ScheduleA/OtherIncome170Grp/TotalAmt063922
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.98800
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportPY170Pct00.99150
IRS990ScheduleA/PublicSupportTotal170Amt010561851
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01589044
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01895640
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02154445
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt02111899
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02810823
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt010561851
IRS990ScheduleA/TotalSupportAmt010690249
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus2YearsAmt047993
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus3YearsAmt03097
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt051090
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt012067
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0307615
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0319682
IRS990ScheduleD/ExpensesNotReportedAmt08335
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt01581
IRS990ScheduleD/ExpensesSubtotalAmt01898567
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt085547
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0266642
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0352189
IRS990ScheduleD/LossesReportedAmt08335
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt021280
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Rec from Other Agency
IRS990ScheduleD/OtherExpensesNotIncludedAmt01581
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt010470
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt010470
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt033067
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt140286
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Line of Credit
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Obligations Under Capital Lease
IRS990ScheduleD/OtherRevenueAmt04978
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RevenueNotReportedAmt04978
IRS990ScheduleD/RevenueSubtotalAmt01616135
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Book to tax difference in depreciation.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Book to tax difference in the loss on the sale of assets.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0XII 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1XI 2d
IRS990ScheduleD/TotalBookValueLandBuildingsAmt097614
IRS990ScheduleD/TotalBookValueOtherAssetsAmt021280
IRS990ScheduleD/TotalExpensesPerForm990Amt01900148
IRS990ScheduleD/TotalLiabilityAmt073353
IRS990ScheduleD/TotalRevenuePerForm990Amt01616135
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01621113
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01906902
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0Legacy Charter School Property LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Board Mamber of Legacy Schools, Inc.
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0494639
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Rent Paid
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt058297
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt116000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt218914
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt310461
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt426064
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt520000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt612000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt75059
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd2true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd3true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd4true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd5true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd6true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd7true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd2false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd3false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd4false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd5false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd6false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd7false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Working Capital
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1Working Capital
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2Working Capital
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt3Working Capital
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt4Working Capital
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt5Working Capital

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$203,841
Liabilities
$852,467
Net assets
-$648,626
Revenue
$1,616,135
Expenses
$1,900,148
Net income
-$284,013
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.29$0.70$0.41$1.36$1.12$0.24
2015Detailed filing. Detailed filing data is available for this year.$0.20$0.85$0.65$1.62$1.90$0.28
2014Summary only. Only limited summary data is available for this year.$0.67$1.04$0.36$1.93$2.06$0.12
2013Summary only. Only limited summary data is available for this year.$0.81$1.22$0.41$2.21$2.47$0.26
2012Summary only. Only limited summary data is available for this year.$0.70$0.65$0.06$2.12$2.27$0.15
2011Summary only. Only limited summary data is available for this year.$0.46$0.42$0.03$2.81$2.86$0.05