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Legacy Early Learning Academy FY2023 filing

Grapevine, TXUnknown exempt organizationEIN 83-4089104Revenue $1.8M in FY2023

On file with the IRSlegacyela.com2501 Stone Myers Parkway · Grapevine, TX

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Lela exists to prepare children for lifelong educational and social success

84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $68K a year · 7% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $110K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$54K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
+4% vs prior year
Spent
$1.8M
To programs
84%
Net assets
$697K
By yearFY2020–FY2025
Revenue
$1.8M
FY2023▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$852K
FY2021$1.3M
FY2022$1.8M
FY2023$1.8M
FY2024$346K
FY2025$57K
Expenses
$1.8M
FY2023▲ +32%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$964K
FY2022$1.4M
FY2023$1.8M
FY2024$427K
FY2025$106
Net assets
$697K
FY2023▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020−$30K
FY2021$278K
FY2022$709K
FY2023$697K
FY2024$219K
FY2025$0

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $1.5M Management & general 16% · $286K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Sharon Burnett
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Lisa Rose
President
$0Pt VII · Sec A
Albert Wright
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
See Legacy Early Learning Academy executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Prepares children for lifelong educational and social success.

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Provided by the organization

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1 program · $1.5M · in their own filed words · FY2023
01

Preschool and after school program for children ages 0-13.

$1.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2021
ProjecthandupFY2021$60K
The@robert D and Alma Moreton FoundationFY2021$25K
Leo Potishman Foundation Xxxxx3002FY2021$25K
Total grants receivedfrom 3 funders$110K
See all 3 funders →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.8M
Ln 12
Fees for servicesLn 2g$1.2M
Gifts and grantsLn 1h$579K
Investment incomeLn 3$28K
Money outPt IX
$1.8M
Ln 25
Programscol B$1.5M
Managementcol C$286K
Owns and owesPt X
$697K
net assets · Ln 32
Cash and savingsLn 1–2$430K
Total assetsLn 16$752K
LiabilitiesLn 26$54K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$579K
Government grantsLn 1e$579K
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$28K
Gains on assetsLn 7$40
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$430K
Cash and savings togetherLn 1–2$430K
Land, buildings, equipmentLn 10c$69K
Total assetsLn 16$752K
LiabilitiesLn 26$54K
Net assetsLn 32$697K
OperationsPt I, VI
EmployeesI 533
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$609K$430K
Land, buildings, equipmentLn 10c$100K$69K
Total assetsLn 16$751K$752K
LiabilitiesLn 26$42K$54K
Net assetsLn 32$709K$697K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.0M$1.0M
Other employee benefitsLn 9$89K$89K
Payroll taxesLn 10$88K$88K
Other fees for servicesLn 11g$200K$139K$61K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$15K$15K
Information technologyLn 14$4K$4K
OccupancyLn 16$100K$100K
InsuranceLn 23$31K$31K
Other expenses (24a–d)Ln 24$181K$134K$47K
All other expensesLn 24e$63K$40K$23K
Total functional expensesLn 25$1.8M$1.5M$286K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $57K$106$57K$0 990 PDF
FY2024 $346K$427K−$81K$219K 990 PDF
FY2023 Viewing $1.8M$1.8M$18K$697K 990 PDF
FY2022 $1.8M$1.4M$389K$709K 990 PDF
FY2021 $1.3M$964K$333K$278K 990 PDF
FY2020 $852K$1.2M−$310K−$30K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $1,840,092 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $576,585$579,417
I-9 Program service revenuePrior year $1,189,840$1,232,421
I-10 Investment incomePrior year $2,977$28,254
I-11 Other revenuePrior year $200$0
I-12 Total revenuePrior year $1,769,602$1,840,092
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $894,578$1,222,857
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $485,718$599,039
I-18 Total expensesPrior year $1,380,296$1,821,896
I-19 Revenue less expensesPrior year $389,306$18,196
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,840,092 across 7 lines filed
VIII-1e Government grants$579,153
VIII-1f All other contributions, gifts and grants$264
VIII-1h Total contributions, gifts and grants$579,417
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,232,421$1,232,421
VIII-3 Investment incomeExcluded from tax $28,214$28,214
VIII-7 Net gain or loss on sales of assetsExcluded from tax $40$40
VIII-12 Total revenueRelated to mission $1,232,421 · Excluded from tax $28,254$1,840,092
Part IX · Statement of functional expenses $1,821,896 across 11 lines filed
IX-7 Other salaries and wagesPrograms $1,045,945$1,045,945
IX-9 Other employee benefitsPrograms $88,694$88,694
IX-10 Payroll taxesPrograms $88,218$88,218
IX-11g Other fees for servicesPrograms $139,158 · Management $60,636$199,794
IX-12 Advertising and promotionManagement $5,460$5,460
IX-13 Office expensesManagement $15,260$15,260
IX-14 Information technologyManagement $3,851$3,851
IX-16 OccupancyManagement $99,755$99,755
IX-23 InsuranceManagement $30,978$30,978
IX-24 Other expenses (24a–d)Programs $133,931 · Management $47,233$181,164
IX-24e All other expensesPrograms $39,558 · Management $23,219$62,777
IX-25 Total functional expensesPrograms $1,535,504 · Management $286,392 · Fundraising $0$1,821,896
Part X · Balance sheet $751,646 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $609,113$429,894
X-4 Accounts receivableStart of year $18,331$23,731
X-9 Prepaid expenses and deferred chargesStart of year $24,249$228,543
X-10c Land, buildings and equipment, netStart of year $99,598$69,478
X-16 Total assetsStart of year $751,291$751,646
X-17 Accounts payable and accrued expensesStart of year $41,898$1,426
X-25 Other liabilities$52,885
X-26 Total liabilitiesStart of year $41,898$54,311
X-27 Net assets without donor restrictionsStart of year $709,393$697,335
X-32 Total net assets or fund balancesStart of year $709,393$697,335
X-33 Total liabilities and net assetsStart of year $751,291$751,646
Part XI · Reconciliation of net assets $697,335 net assets at year end
XI-1 Total revenue$1,840,092
XI-2 Total expenses$1,821,896
XI-3 Revenue less expenses$18,196
XI-4 Net assets at start of year$709,393
XI-5 Net unrealized gains (losses) on investments−$135
XI-9 Other changes in net assets−$30,119
XI-10 Net assets at end of year$697,335

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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