Legacy Charter School
Nonprofit profile at a glance
- EIN
- 201946624
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Chicago, IL, USA
- Phone
- 7735421640
- Rating
- 85
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Charter Schools
Reported finances
- Revenue
- $9,272,197
- Expenses
- $9,535,381
- Assets
- $23,311,765
- Liabilities
- $4,279,075
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- ELIZABETH B GOSS (EXECUTIVE DIRECTOR)
Highest reported compensation
- ELIZABETH B GOSS (EXECUTIVE DIRECTOR): $205,997 total reported compensation
- SHEILA FOSTER (PRINCIPAL): $152,273 total reported compensation
- LATONYA PLEASANT (TEACHER): $127,983 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The school's mission is to create an outstanding center for teaching and learning for children and their families that will recognize and nurture the full potential of every child, provide a foundation for a college education and educate students to be creative and critical thinkers and responsible citizens in school, at home and in the broader community.
What it reported doing in 2024
The school's mission is to create an outstanding center for teaching and learning for children and their families that will recognize and nurture the full potential of every child, provide a foundation for a college education and educate students to be creative and critical thinkers and responsible citizens in school, at home and in the broader community. The school was founded by sonnenschein nath and rosenthal llp. During fye june 30, 2025, the school served approximately 457 students in kindergarten through 8th grade.
Operating model
- Revenue model
- Grant-funded. 91% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filed totals do not add up.
Rating breakdown
- Financial Efficiency: 83
- Transparency & Controls: 81
- Accountability: 100
- Sustainability: 42
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 85.1%; rating input score 85
- Program expense ratio: 82.5%; rating input score 82
- Fundraising efficiency: $44.48 raised per $1 spent on fundraising; rating input score 77; 77th percentile among comparable filings
Transparency & Controls
- Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 8 of 8 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -2.8%; rating input score 25; 25th percentile among comparable filings
- Total-asset coverage ratio: 2.44; rating input score 68; 68th percentile among comparable filings
- Liabilities to assets ratio: 0.18; rating input score 46; 46th percentile among comparable filings
- Officer compensation ratio: 7.7%; rating input score 38; 38th percentile among comparable filings
Growth
- Program expense growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings
- Revenue growth: 6.2% per year; rating input score 100; 50th percentile among comparable filings
- Asset growth: 7.5% per year; rating input score 100; 48th percentile among comparable filings
Details
- Where the money goes: 85.1% of revenue deployed · 82.5% of spending went to programs
- Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $7.9M in reported program spending
- Leadership: top reported pay $206K · 17 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $229K reported
- Consistency: 32 of 33 current checks pass · 1 finding to review
- Schedules: 10 filed schedules · includes major donors and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: 2 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 25/100.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- Moderate — Sustainability: Officer compensation ratio scored 38/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 46/100.