Lead Education Foundation
- Assets
- $1.3m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 89
- Location
- Montgomery, AL
- Founding
- 01/2018
- Data as of
- 09/2021
- EIN
- 82-3528049
Organization Overview
Lead Education Foundation is located in Montgomery, AL. The organization was established in 2018. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 09/2021, Lead Education Foundation employed 89 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lead Education Foundation 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 09/2021, Lead Education Foundation generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 65.4% each year . All expenses for the organization totaled $5.9m during the year ending 09/2021. While expenses have increased by 65.2% per year over the past 4 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE EDUCATIONAL OUTCOMES IN THE RIVER REGION FOR K-12 STUDENTS BY STARTING AND GROWING HIGH QUALITY CHARTER SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEAD ACADEMY - A CHARTER SCHOOL IN MONTGOMERY, ALABAMA PROVIDING INNOVATIVE PROGRAMS DESIGNED TO SPARK CURIOSITY, MAXIMIZE LEARNING POTENTIAL, AND CONTINUOUSLY IMPROVE STUDENT ACHIEVEMENT BY EMPOWERING STUDENTS WITH 21ST CENTURY SKILLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Cantrell Board Member | Trustee | 1 | $0 |
Ben Farrow Board Member | Trustee | 2 | $0 |
William Green Board Member | Trustee | 0.5 | $0 |
Sonya Mccall Board Member | Trustee | 3 | $0 |
Charlotte Meadows President | OfficerTrustee | 7 | $0 |
Lori White Secretary | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,060,251 |
| 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 | $5,385,239 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $2,207,546 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $215,685 |
| Payroll taxes | $161,231 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $666 |
| Fees for services: Accounting | $14,826 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $356,520 |
| Advertising and promotion | $4,093 |
| Office expenses | $139,765 |
| Information technology | $52,089 |
| Royalties | $0 |
| Occupancy | $592,391 |
| Travel | $11,071 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $750 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,966 |
| Insurance | $39,488 |
| All other expenses | $0 |
| Total functional expenses | $5,922,654 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $676,577 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $549,846 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $319 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $520 |
| Total assets | $1,341,745 |
| Accounts payable and accrued expenses | $224,266 |
| 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 | $1,510,457 |
| Other liabilities | $190,788 |
| Total liabilities | $1,925,511 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$583,766 |