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 06/2022, Leap For Education Inc employed 143 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 06/2022, Leap For Education Inc generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $1.8m during the year ending 06/2022. While expenses have increased by 15.4% 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
2022
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Linda Saris Executive Director | OfficerTrustee | 40 | $90,235 |
James Rowan III Treasurer | Officer | 1 | $0 |
Jody Goldman President | Officer | 1 | $0 |
Connie Rudnick Grayson Board Vice Chair | Officer | 1 | $0 |
Ellen Galligan Clerk | Officer | 1 | $0 |
Victor E Cruz Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $135,403 |
Related organizations | $0 |
Government grants | $638,859 |
All other contributions, gifts, grants, and similar amounts not included above | $1,055,993 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,830,255 |
Total Program Service Revenue | $0 |
Investment income | $1,957 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $114,491 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,946,703 |
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. | $90,234 |
Compensation of current officers, directors, key employees. | $31,131 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,184,354 |
Pension plan accruals and contributions | $30,358 |
Other employee benefits | $73,178 |
Payroll taxes | $106,464 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $37,857 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $108,976 |
Advertising and promotion | $9,075 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $100,811 |
Travel | $8,756 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $4,485 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $7,166 |
All other expenses | $0 |
Total functional expenses | $1,831,907 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,471,833 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $10,000 |
Accounts receivable, net | $75,107 |
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 | $16,871 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $1,573,811 |
Accounts payable and accrued expenses | $175,462 |
Grants payable | $0 |
Deferred revenue | $7,800 |
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 | $150,000 |
Other liabilities | $0 |
Total liabilities | $333,262 |
Net assets without donor restrictions | $1,215,549 |
Net assets with donor restrictions | $25,000 |
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 | $1,573,811 |
Over the last fiscal year, we have identified 3 grants that Leap For Education Inc has recieved totaling $72,500.
Awarding Organization | Amount |
---|---|
James C Melvin Trust U/Will Nect % J B Ames F Burr & A Fuller Ttee Boston, MA PURPOSE: SCHOLARSHIP/AID | $60,000 |
Sarah G Mccarthy Memorial Foundation Dallas, TX PURPOSE: PEABODY COLLEGE SUCCESS | $7,500 |
Institution For Savings In Newbrypt & Its Vcnty Chrtble Foundation Inc Newburyport, MA PURPOSE: EXEMPT PURPOSE | $5,000 |
Organization Name | Assets | Revenue |
---|---|---|
Transcend Inc Hastingsonhudson, NY | $40,245,682 | $36,384,149 |
The Baruch College Fund New York, NY | $295,690,612 | $67,294,185 |
S&p Global Foundation New York, NY | $10,276,249 | $7,071,664 |
Workforce Outsource Services Inc Uniondale, NY | $10,340,814 | $13,464,902 |
North Star Academy Foundation Inc New York, NY | $177,913,521 | $11,304,915 |
Hyde Leadership Charter School-Brooklyn Brooklyn, NY | $3,932,564 | $12,878,236 |
Teach Plus Incorporated Boston, MA | $12,001,505 | $12,042,496 |
Onward Israel Internships And Opportunities Ltd New York, NY | $897,895 | $11,379,184 |
Goodwin College Educational Services Inc East Hartford, CT | $19,577 | $10,789,035 |
Education Resource Strategies Inc Watertown, MA | $16,861,900 | $10,099,352 |
Entrepreneurial Ventures In Education Quincy, MA | $4,865,485 | $11,072,937 |
Learning Through An Expanded Arts Program Inc New York, NY | $2,991,832 | $9,986,466 |