Legacy Traditional Schools - Nevada Inc
- Assets
- $101.6m
- Revenue
- $37.1m
- Investments
- $0.0
- Employees
- 494
- Location
- Chandler, AZ
- Founding
- 12/2016
- Data as of
- 06/2022
- EIN
- 81-1370901
Organization Overview
Legacy Traditional Schools - Nevada Inc is located in Chandler, AZ. The organization was established in 2016. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Legacy Traditional Schools - Nevada Inc employed 494 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Legacy Traditional Schools - Nevada Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Legacy Traditional Schools - Nevada Inc generated $37.1m in total revenue. All expenses for the organization totaled $38.7m during the year ending 06/2022. While expenses have increased by 102.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ALL STUDENTS WITH OPPORTUNITIES, LEADERSHIP, GUIDANCE, AND SUPPORT TO ACHIEVE ACADEMIC EXCELLENCE IN A SAFE, NEOTRADITIONAL LEARNING ENVIRONMENT, TAUGHT BY CARING, KNOWLEDGEABLE AND HIGHLY EFFECTIVE EDUCATORS IN COOPERATION WITH SUPPORTIVE, INVOLVED FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE CURRENT YEAR, THE ORGANIZATION PROVIDED HIGH QUALITY EDUCATIONAL SERVICES TO 4,294 STUDENTS IN KINDERGARTEN THROUGH 8TH GRADE AT ITS CAMPUSES THROUGHOUT NEVADA. THOSE STUDENTS WERE PROVIDED A WELL-ROUNDED EDUCATION THAT INCLUDES READING, WRITING, MATHEMATICS, SCIENCE, SOCIAL STUDIES, HISTORY, MUSIC, ART, AND PHYSICAL EDUCATION, AS WELL AS EXTRACURRICULAR ACTIVITIES INCLUDING ATHLETICS, CLUBS, FIELD TRIPS, AND DAILY TUTORING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amanda Pratt President/director | OfficerTrustee | 5 | $0 |
Stephen Steele Treasurer/director | OfficerTrustee | 5 | $0 |
Melissa Woodbury Director | Trustee | 5 | $0 |
Rick Phillips Vice President | OfficerTrustee | 5 | $0 |
Katy Larrabee Secretary | OfficerTrustee | 5 | $0 |
Ralph Hartmann Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vertex Education Llc Management Services/bond Fees | 6/29/20 | $3,901,282 |
Provestus Development Solutions Llc Construction Development | 6/29/20 | $918,011 |
Infosmart Solutions Llc Computer Services | 6/29/20 | $141,504 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,527,626 |
| All other contributions, gifts, grants, and similar amounts not included above | $106,275 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,633,901 |
| Total Program Service Revenue | $1,441,892 |
| Investment income | $23,107 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,103,358 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,661,588 |
| Pension plan accruals and contributions | $4,656,114 |
| Other employee benefits | $1,387,426 |
| Payroll taxes | $303,969 |
| Fees for services: Management | $5,883,131 |
| Fees for services: Legal | $26,773 |
| Fees for services: Accounting | $27,990 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $64,419 |
| Fees for services: Other | $1,216,298 |
| Advertising and promotion | $74,634 |
| Office expenses | $2,473,397 |
| Information technology | $513,233 |
| Royalties | $0 |
| Occupancy | $953,214 |
| Travel | $59,082 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,341,528 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,707,763 |
| Insurance | $122,050 |
| All other expenses | $36,470 |
| Total functional expenses | $38,692,704 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,678,951 |
| Savings and temporary cash investments | $7,864,864 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,156,314 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $255,848 |
| Net Land, buildings, and equipment | $57,053,942 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,547,344 |
| Total assets | $101,557,263 |
| Accounts payable and accrued expenses | $3,463,254 |
| Grants payable | $0 |
| Deferred revenue | $14,381,357 |
| Tax-exempt bond liabilities | $75,319,325 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $720,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,717,126 |
| Total liabilities | $112,601,062 |
| Net assets without donor restrictions | -$11,043,799 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $101,557,263 |