Leap For Education Inc
- Assets
- $2.0m
- Revenue
- $2.8m
- Investments
- $791.5k
- Employees
- 185
- Location
- Salem, MA
- Founding
- 01/2015
- Data as of
- 06/2024
- EIN
- 47-1445061
Organization Overview
Leap For Education Inc is located in Salem, MA. The organization was established in 2015. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2024, Leap For Education Inc employed 185 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Leap For Education 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 06/2024, Leap For Education Inc generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $2.8m during the year ending 06/2024. While expenses have increased by 17.2% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ACADEMIC, POST SECONDARY AND CAREER SERVICES TO UNDERSERVED STUDENTS IN GRADES 6-16.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ACADEMIC SERVICES TO LOW INCOME AND FIRST GENERATION STUDENTS IN GRADES 6 - 16.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Saris Executive Director | OfficerTrustee | 40 | $106,280 |
Dr Raminder Luther Director | Trustee | 1 | $0 |
Daniel Richard Director | Trustee | 1 | $0 |
Brian Castellanos Director | Trustee | 1 | $0 |
Jessica Huizenga Director Part Year | Trustee | 1 | $0 |
Derek Gaskins Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $123,607 |
| Related organizations | $0 |
| Government grants | $1,095,925 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,417,061 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,636,593 |
| Total Program Service Revenue | $0 |
| Investment income | $59,732 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $112,479 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,813,804 |
| 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. | $106,280 |
| Compensation of current officers, directors, key employees. | $26,570 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,884,425 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $100,090 |
| Payroll taxes | $188,306 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $47,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $113,934 |
| Advertising and promotion | $6,353 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $144,023 |
| Travel | $4,461 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,245 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,989 |
| All other expenses | $0 |
| Total functional expenses | $2,797,132 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $877,747 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $74,418 |
| Accounts receivable, net | $68,260 |
| 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 | $45,067 |
| Net Land, buildings, and equipment | $4,332 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $791,490 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $159,967 |
| Total assets | $2,021,281 |
| Accounts payable and accrued expenses | $211,159 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $145,628 |
| Other liabilities | $156,003 |
| Total liabilities | $512,790 |
| Net assets without donor restrictions | $1,268,216 |
| Net assets with donor restrictions | $240,275 |
| 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 | $2,021,281 |