Leo Inc
- Assets
- $16.7m
- Revenue
- $15.1m
- Investments
- $0.0
- Employees
- 142
- Location
- Lynn, MA
- Founding
- 09/1967
- Data as of
- 09/2023
- EIN
- 04-2378885
Organization Overview
Leo Inc is located in Lynn, MA. The organization was established in 1967. According to its NTEE Classification (P40) the organization is classified as: Family Services, under the broad grouping of Human Services and related organizations. As of 09/2023, Leo Inc employed 142 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Leo 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 09/2023, Leo Inc generated $15.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $13.9m during the year ending 09/2023. While expenses have increased by 4.8% per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LEO INC. WORKS TO ALLEVIATE THE IMMEDIATE IMPACT OF POVERTY AND TO PROVIDE PATHWAYS TO FINANCIAL STABILITY FOR INDIVIDUALS AND FAMILIES, AS WELL AS STRENGTHEN THE GREATER COMMUNITY OF LYNN AND ITS SURROUNDING TOWNS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EARLY CHILDHOOD DEVELOPMENT SERVICES INCLUDE HEAD START (AGES 3-5) AT THREE PRESCHOOL SITES IN LYNN, MA AND EARLY HEAD START (AGES 6 WEEKS-3 YEARS) AT ONE ADDITIONAL SITE IN LYNN. EARLY HEAD START INCLUDES A HOME-BASED COMPONENT AND ALSO SERVES WOMEN WHO ARE PREGNANT, UP TO AND BEYOND DELIVERY. IN THE PAST YEAR, LEO HAD 413 CHILDREN ENROLLED IN ITS PROGRAMS, WHICH ARE BASED ON A COMPREHENSIVE SCHOOL READINESS CURRICULUM, NUTRITIONAL AND WELLNESS GOALS, HEALTH ASSESSMENTS, AND BEHAVIORAL AND MENTAL HEALTH SUPPORT.
LEO INC. PROVIDES FUEL ASSISTANCE THROUGH THE MASSACHUSETTS LOW INCOME HOUSING ENERGY ASSISTANCE PROGRAM (LIHEAP), WHICH PROTECTS ELIGIBLE LOW-INCOME HOUSEHOLDS FROM THE HIGH COST OF HOME HEATING. ELIGIBILITY AND BENEFITS ARE BASED ON FAMILY SIZE AND INCOME. ANNUALLY, LEO SERVES APPROXIMATELY 3,000 HOUSEHOLDS AND 7,000 INDIVIDUALS. THE MAJORITY OF HOUSEHOLDS SERVED INCLUDE A CHILD UNDER THE AGE OF 5, A RESIDENT AGE 60 OR OLDER, OR AN INDIVIDUAL WITH DISABILITIES.
COMMUNITY SERVICE PROGRAM - SERVICES TO STABILIZE INDIVIDUALS FACING FINANCIAL EMERGENCIES AS A RESULT OF POVERTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Higgs President | OfficerTrustee | 0.5 | $0 |
James Low Treasurer | OfficerTrustee | 0.5 | $0 |
Kimberly Rowe-Cummings Clerk | OfficerTrustee | 0.5 | $0 |
Posan Ung Vice President | OfficerTrustee | 0.5 | $0 |
Chris Bendicksen Asst Clerk | OfficerTrustee | 0.5 | $0 |
Diane Perez Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jeff Lambray Enterprises Llc Weatherization Services | 9/29/21 | $162,057 |
Atlantic Weatherization Llc Weatherization Services | 9/29/21 | $156,010 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $24,900 |
| Related organizations | $0 |
| Government grants | $14,444,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,458,314 |
| Noncash contributions included in lines 1a–1f | $88,491 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,928,014 |
| Total Program Service Revenue | $71,679 |
| Investment income | $70,771 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,368 |
| Net Gain/Loss on Asset Sales | -$956,523 |
| Net Income from Fundraising Events | $159 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,135,468 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,511,554 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $378,272 |
| Compensation of current officers, directors, key employees. | $378,272 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,662,822 |
| Pension plan accruals and contributions | $225,814 |
| Other employee benefits | $731,732 |
| Payroll taxes | $560,099 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $47,443 |
| Fees for services: Lobbying | $8,000 |
| Fees for services: Fundraising | $19,598 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $151,931 |
| Advertising and promotion | $83,484 |
| Office expenses | $321,829 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $506,222 |
| Travel | $68,450 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $100,208 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $175,746 |
| Insurance | $61,062 |
| All other expenses | $1,817 |
| Total functional expenses | $13,911,047 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,258,514 |
| Pledges and grants receivable | $1,346,722 |
| Accounts receivable, net | $1,302,796 |
| 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 | $160,607 |
| Net Land, buildings, and equipment | $6,177,988 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $407,138 |
| Total assets | $16,653,765 |
| Accounts payable and accrued expenses | $1,513,450 |
| Grants payable | $0 |
| Deferred revenue | $947,313 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $421,110 |
| Total liabilities | $2,881,873 |
| Net assets without donor restrictions | $8,271,911 |
| Net assets with donor restrictions | $5,499,981 |
| 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 | $16,653,765 |