Legacy Preparatory Christian Academy

Nonprofit profile at a glance

EIN
202693047
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
The Woodlands, TX, USA
Phone
9363372000
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12
Affiliation
Christianity

Official website

Reported finances

Revenue
$25,391,493
Expenses
$9,149,987
Assets
$34,700,539
Liabilities
$8,532,721

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

Leadership & pay

8 people listed

Highest reported compensation

  • AUDRA MAY (HEAD ADMINISTRATOR): $154,344 total reported compensation
  • CASEY CLARK (BOARD MEMBER): $14,128 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 mission of lpca is:- to partner with parents who are dedicated to helping their children become college-worthy, character witnesses of christ.(continued on sch. O)(continued from part iii)- to foster an environment that allows parents to pass on their "legacy" of faith via the time that a university model schedule returns to the family. - to support the development of a biblical worldview so that each child is confident in what they believe and is able to defend their faith in love, boldly and unashamedly.- to help students enter the college of their choice with the knowledge, skill sets, and preparedness to excel in today's college environment.

What it reported doing in 2024

Legacy is a pk-12 private university model christian school with an enrollment of approximately 780 students. Legacy's students benefit from small classroom sizes taught by certified teachers. They consistently outperform the national average in every category of the Iowa standardized test as well as the psat exam. Starting in middle school, students take discipleship classes, with a curriculum focused on strengthening the foundations of their faith and being able to share and defend it. Graduates have been accepted, have received scholarships, and are attending major universities.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 86% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 79
  • Accountability: 87
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 31%; rating input score 31
  • Program expense ratio: 86.5%; rating input score 87
  • Fundraising efficiency: $656.49 raised per $1 spent on fundraising; rating input score 95; 95th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 19th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 64%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 3.79; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 12% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 16.3% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 14.2% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 31% of revenue deployed · 86.5% of spending went to programs
  • Governance: 6 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $7.9M in reported program spending
  • Leadership: top reported pay $154K · 8 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $799K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 31/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.