Leap Foundation Inc
- Assets
- $417.8k
- Revenue
- $717.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Los Angeles, CA
- Founding
- 08/2010
- Data as of
- 12/2022
- EIN
- 26-1809669
Organization Overview
Leap Foundation Inc, operating under the name The Leadership Excellence Accelerating Potential Foundation Inc, is located in Los Angeles, CA. The organization was established in 2010. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2022, Leadership Excellence Accelerating Potential Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Leadership Excellence Accelerating Potential Foundation 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 12/2022, Leadership Excellence Accelerating Potential Foundation Inc generated $717.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $696.1k during the year ending 12/2022. 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
THE LEAP FOUNDATION, INC. ("LEAP") IS A CALIFORNIA NOT-FOR-PROFIT THAT ORGANIZES LEADERSHIP CONFERENCES DESIGNED TO TEACH YOUNG ADULTS THE SKILLS NECESSARY TO GET A SEVEN YEAR JUMP-START ON LIFE. LEAP'S LEADERSHIP PROGRAMS AIM TO TEACH YOUNG ADULTS IMPORTANT SKILLS LIKE HOW TO ASSUME LEADERSHIP ROLES, PLAN A CAREER PATH, MANAGE PERSONAL FINANCES, AMONG OTHERS, WITH THE PRIMARY GOAL TO MOTIVATE THEM AND INSTILL IN THEM THE SELF CONFIDENCE NECESSARY TO EXCEL IN BOTH THEIR PERSONAL AND PROFESSIONAL LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LEAP LEADERSHIP PROGRAM CONSISTS OF A SERIES OF WORKSHOPS, SEMINARS, LECTURES, GUEST SPEAKERS, GROUP DISCUSSIONS AND OTHER EDUCATIONAL ACTIVITIES THAT ARE DESIGNED FOR STRUGGLING STUDENTS, AGES 15 TO 24. THE LEAP PROGRAM PROVIDES USEFUL TACTICS AND EMBEDDED KNOWLEDGE THAT HELPS STUDENTS GET A COMPETITIVE EDGE OVER THEIR PEERS FOR JOBS, INTERNSHIPS AND ADMISSION TO GRADUATE SCHOOL AND PAVES THE WAY FOR ACADEMIC AND PERSONAL EXCELLENCE. IN 2011, THE LEAP STUDENT BODY REPRESENTED 43 OF THE 50 U.S. STATES AND 6 COUNTRIES, INCLUDING CANADA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr William Dorfman President | OfficerTrustee | 5 | $0 |
Gary Dorfman Board Member | Trustee | 1 | $0 |
Charlie Gallagher Executive Director | Officer | 40 | $80,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $29,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $597,906 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $626,906 |
| Total Program Service Revenue | $90,164 |
| Investment income | $0 |
| 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 | $717,070 |
| 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. | $145,833 |
| Compensation of current officers, directors, key employees. | $41,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,000 |
| Payroll taxes | $12,107 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $33,389 |
| Office expenses | $23,275 |
| Information technology | $23,401 |
| Royalties | $0 |
| Occupancy | $45,510 |
| Travel | $75,420 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $217,813 |
| Interest | $1,037 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,233 |
| All other expenses | $1,820 |
| Total functional expenses | $696,055 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $405,458 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,993 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,345 |
| Total assets | $417,796 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $1,076,361 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,190 |
| Total liabilities | $1,091,551 |
| Net assets without donor restrictions | -$673,755 |
| 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 | $417,796 |