Legacy of Excellence Inc
Nonprofit profile at a glance
- EIN
- 822387012
- IRS 990 coverage
- 2017–2024
- Forms available
- Form 990 2024
- Location
- New Orleans, LA, USA
- Phone
- 5043597708
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Charter Schools
Reported finances
- Revenue
- $16,361,573
- Expenses
- $15,778,753
- Assets
- $16,839,382
- Liabilities
- $1,452,193
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- JEREMYE BROOKS (CHIEF EXECUTIVE OFFICER)
- TOMMIE VASSEL (PRESIDENT)
- CYNTHIA STEWARD (VICE PRESIDENT)
Highest reported compensation
- JEREMYE BROOKS (CHIEF EXECUTIVE OFFICER): $139,718 total reported compensation
- PATRICE JOSEPH (SCHOOL PRINCIPAL): $117,405 total reported compensation
- NICHELLE LOGAN-JONES (SCHOOL PRINCIPAL): $117,349 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To educate children to excel academically and individually.
What it reported doing in 2024
Legacy of excellence continues educating children to excel academically and individually.
Operating model
- Revenue model
- Other-operating. 73% of the money available for current operations came from other operating revenue.
- 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.
The verdict
STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 66
- Transparency & Controls: 92
- Accountability: 90
- Sustainability: 52
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 73.6%; rating input score 74
- Program expense ratio: 75.5%; rating input score 75
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: Limited
- 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; 66th percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 3.6%; rating input score 49; 49th percentile among comparable filings
- Total-asset coverage ratio: 1.07; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0.09; rating input score 76; 76th percentile among comparable filings
- Officer compensation ratio: 2.4%; rating input score 73; 73rd percentile among comparable filings
Growth
- Program expense growth: 21.8% per year; rating input score 100; 91st percentile among comparable filings
- Revenue growth: 19.7% per year; rating input score 100; 92nd percentile among comparable filings
- Asset growth: 35.3% per year; rating input score 100; 97th percentile among comparable filings
Details
- Where the money goes: 73.6% of revenue deployed · 75.5% of spending went to programs
- Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $11.9M in reported program spending
- Leadership: top reported pay $140K · 10 people listed
- Highest-paid contractors: 1 contractor listed · $817K reported
- Consistency: 30 of 30 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 6 filing years from 2017 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- Moderate — Sustainability: Operating margin scored 49/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.