Legacy Preparatory Academy

Nonprofit profile at a glance

EIN
593810621
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Woods Cross, UT, USA
Phone
8012942801
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$12,019,694
Expenses
$10,806,807
Assets
$32,644,158
Liabilities
$24,504,372

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • JOHN COOK (PRESIDENT)
  • LARA MURPHY (VICE PRESIDENT)

People named in this filing

  • JOHN COOK (PRESIDENT)
  • LARA MURPHY (VICE PRESIDENT)
  • AIMEE HINOJOSA (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide classical education and fine arts within a public charter school setting by building the foundation of knowledge and critical thinking skills necessary for children to become independent.

What it reported doing in 2024

To operate a public charter school for students from kindergarten to ninth grade.

Operating model

Revenue model
Grant-funded. 94% 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.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 67
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.1%; rating input score 64
  • Program expense ratio: 70.1%; rating input score 70
  • 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 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 10.1%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 3.02; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 3.5% per year; rating input score 100; 30th percentile among comparable filings
  • Revenue growth: 5.2% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 64.1% of revenue deployed · 70.1% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $7.6M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Highest-paid contractors: 3 contractors listed · $962K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 11 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • 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: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.