Legacy Academy FY2023 filing

Tax-deductible

Elizabeth, CO501(c)(3)Since 1997EducationEIN 84-1413963Revenue $5.7M in FY2023

On file with the IRSlegacyk8.org1975 Legacy Cir, 80107-8330 · Elizabeth, COTax-exempt since Apr 2000School — 170(b)(1)(A)(ii)

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501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
$72K paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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 $624K a year · 11% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$72K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$15.2M
119% of total assets
Concern: liabilities are 119% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.7M
-13% vs prior year
Spent
$5.5M
To programs
71%
Net assets
−$2.4M
By yearFY2020–FY2025
Revenue
$5.7M
FY2023▼ -13%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.1M
FY2021$5.6M
FY2022$6.5M
FY2023$5.7M
FY2024$5.9M
FY2025$6.8M
Expenses
$5.5M
FY2023▲ +15%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.1M
FY2021$4.1M
FY2022$4.8M
FY2023$5.5M
FY2024$6.1M
FY2025$7.2M
Net assets
−$2.4M
FY2023▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020−$5.7M
FY2021−$4.2M
FY2022−$2.5M
FY2023−$2.4M
FY2024−$3.0M
FY2025−$3.4M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2000.

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

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $4.0M Management & general 29% · $1.6M

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

7 people listed on the 990; $72K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Principal
$71,966Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A

Tony Vruggink’s $94K as Principal is at the 27th percentile of top reported officer pay among 3395 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Tony Vruggink$94,184$97,517$71,966———
Tammy Thorn———$90,667$83,729$70,712

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Develops students' character and academic potential through rigorous, content-rich learning.

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Provided by the organization

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1 program · $4.0M · in their own filed words · FY2022
01

Provide education to students in K-8th grade, benefiting approximately 510 students, including a Before & After Program at school and a homeschool program.

$4.0Mprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$5.7M
Ln 12
Fees for servicesLn 2g$4.8M
Gifts and grantsLn 1h$723K
Investment incomeLn 3$88K
Money outPt IX
$5.5M
Ln 25
Programscol B$4.0M
Managementcol C$1.6M
Owns and owesPt X
−$2.4M
net assets · Ln 32
Cash and savingsLn 1–2$2.8M
Total assetsLn 16$12.8M
LiabilitiesLn 26$15.2M
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$723K
Government grantsLn 1e$687K
Fees for servicesLn 2g$4.8M
Investment incomeLn 3$88K
Other incomeLn 4–11$14K
Total revenueLn 12$5.7M
Assets in detailPt X, end of year
CashLn 1$219K
SavingsLn 2$2.6M
Cash and savings togetherLn 1–2$2.8M
Land, buildings, equipmentLn 10c$8.6M
Total assetsLn 16$12.8M
LiabilitiesLn 26$15.2M
Net assetsLn 32−$2.4M
OperationsPt I, VI
EmployeesI 592
VolunteersI 6200
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$2.2M$2.8M
Land, buildings, equipmentLn 10c$8.8M$8.6M
Total assetsLn 16$12.3M$12.8M
LiabilitiesLn 26$14.8M$15.2M
Net assetsLn 32−$2.5M−$2.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$2.5M$1.9M$598K
Pension plan contributionsLn 8$391K$297K$94K
Other employee benefitsLn 9$301K$119K$182K
Payroll taxesLn 10$30K$23K$7K
Legal feesLn 11b$56K$56K
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$976K$693K$283K
Advertising and promotionLn 12$14K$14K
Office expensesLn 13$27K$6K$22K
Information technologyLn 14$126K$126K
OccupancyLn 16$189K$142K$47K
TravelLn 17$26K$11K$16K
InterestLn 20$391K$293K$98K
Depreciation, depletion and amortizationLn 22$304K$228K$76K
InsuranceLn 23$34K$26K$9K
Other expenses (24a–d)Ln 24$151K$90K$61K
All other expensesLn 24e$11K$1K$9K
Total functional expensesLn 25$5.5M$4.0M$1.6M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.8M$7.2M−$408K−$3.4M 990 PDF
FY2024 $5.9M$6.1M−$146K−$3.0M 990 PDF
FY2023 Viewing $5.7M$5.5M$119K−$2.4M 990 PDF
FY2022 $6.5M$4.8M$1.7M−$2.5M 990 PDF
FY2021 $5.6M$4.1M$1.5M−$4.2M 990 PDF
FY2020 $5.1M$4.1M$994K−$5.7M 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 $5,652,405 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $484,189$723,251
I-9 Program service revenuePrior year $4,534,926$4,827,339
I-10 Investment incomePrior year $24,469$87,647
I-11 Other revenuePrior year $1,477,498$14,168
I-12 Total revenuePrior year $6,521,082$5,652,405
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,901,626$3,217,545
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,916,349$2,315,761
I-18 Total expensesPrior year $4,817,975$5,533,306
I-19 Revenue less expensesPrior year $1,703,107$119,099
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $5,652,405 across 8 lines filed
Lines not itemized here account for $10,217 of total revenue; see the IRS return.
VIII-1e Government grants$687,348
VIII-1f All other contributions, gifts and grants$35,903
VIII-1h Total contributions, gifts and grants$723,251
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,827,339$4,827,339
VIII-3 Investment incomeExcluded from tax $87,647$87,647
VIII-6 Net rental income or lossRelated to mission $3,900$3,900
VIII-8 Net income from fundraising eventsExcluded from tax $51$51
VIII-12 Total revenueRelated to mission $4,841,456 · Unrelated business $0 · Excluded from tax $87,698$5,652,405
Part IX · Statement of functional expenses $5,533,306 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $1,897,879 · Management $598,166$2,496,045
IX-8 Pension plan contributionsPrograms $297,183 · Management $93,665$390,848
IX-9 Other employee benefitsPrograms $118,970 · Management $181,838$300,808
IX-10 Payroll taxesPrograms $22,692 · Management $7,152$29,844
IX-11b Legal feesManagement $56,228$56,228
IX-11c Accounting feesManagement $10,400$10,400
IX-11g Other fees for servicesPrograms $692,794 · Management $282,806$975,600
IX-12 Advertising and promotionManagement $13,924$13,924
IX-13 Office expensesPrograms $5,750 · Management $21,517$27,267
IX-14 Information technologyPrograms $125,564$125,564
IX-16 OccupancyPrograms $142,047 · Management $47,349$189,396
IX-17 TravelPrograms $10,766 · Management $15,694$26,460
IX-20 InterestPrograms $293,019 · Management $97,673$390,692
IX-22 Depreciation, depletion and amortizationPrograms $228,151 · Management $76,050$304,201
IX-23 InsurancePrograms $25,733 · Management $8,578$34,311
IX-24 Other expenses (24a–d)Programs $90,393 · Management $60,683$151,076
IX-24e All other expensesPrograms $1,480 · Management $9,162$10,642
IX-25 Total functional expensesPrograms $3,952,421 · Management $1,580,885 · Fundraising $0$5,533,306
Part X · Balance sheet $12,771,837 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $75,167$219,287
X-2 Savings and temporary cash investmentsStart of year $2,173,120$2,572,262
X-4 Accounts receivableStart of year $16,030$9,387
X-9 Prepaid expenses and deferred chargesStart of year $1,162,475$1,405,980
X-10c Land, buildings and equipment, netStart of year $8,838,969$8,564,921
X-16 Total assetsStart of year $12,265,761$12,771,837
X-17 Accounts payable and accrued expensesStart of year $211,051$253,965
X-19 Deferred revenueStart of year $61,186$62,454
X-20 Tax-exempt bond liabilitiesStart of year $8,782,071$8,539,422
X-25 Other liabilitiesStart of year $5,734,831$6,320,275
X-26 Total liabilitiesStart of year $14,789,139$15,176,116
X-32 Total net assets or fund balancesStart of year −$2,523,378−$2,404,279
X-33 Total liabilities and net assetsStart of year $12,265,761$12,771,837
Part XI · Reconciliation of net assets −$2,404,279 net assets at year end
XI-1 Total revenue$5,652,405
XI-2 Total expenses$5,533,306
XI-3 Revenue less expenses$119,099
XI-4 Net assets at start of year−$2,523,378
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$2,404,279

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

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