Leap Innovations

“John rowe and bobby mehta have a business relationship. John rowe and sue ling gin had a business relationship.”

“The organization has one member, phyllis lockett, who is the initial member. The initial member may from time to time designate one or more individuals as her successor or successors, or a series of successors, to serve after the initial member ceases to be a member and may specify the length of time that each successor shall serve.”

“The members shall: (a) have the right, together with the affirmative vote of a majority of the then acting directors of the corporation, to approve an amendment to the articles of incorporation; (b) have the right, together with the affirmative vote of a majority of the then acting directors of the corporation, to adopt and amend these bylaws; (c) have the right to approve (i) any voluntary dissolution of the corporation; (ii) any merger or consolidation of the corporation; or (iii) any sale, lease, exchange, or other disposition of all, or substantially all, the property and assets of the corporation if not made in the usual and regular course of the conduct of the affairs of the corporation; and (d) have the right to approve all matters pertaining to the affairs of the corporation on which a vote of the members is required by the not for profit corporation act, the articles of incorporation, or these bylaws, or is otherwise deemed desirable by the board of directors. Each member shall be entitled to one vote on all matters submitted to a vote of the members.”

“There are no committees with authority to act on behalf of the board.”

“Prior to filing, a draft version of the form 990 will be reviewed by the board following management's internal review.”

“A conflict of interest policy questionnaire is annually distributed and completed. The board discusses all conflicts of interest that arise, including potential conflicts with new board members. Conflicts of interest would be dealt with by the board on a case by case basis at the time that they arise.”

“The process for determining the compensation of the organization's executive director was performed by independent board members and included a compensation survey with the deliberation and decision documented in the board minutes. There were no other compensated officers or key employees as of the fiscal year end.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Leap innovations commenced operation as a separate 501(c)(3) entity on march 1, 2015 when it terminated its fiscal sponsorship relationship with the chicago community trust. As leap was under the fiscal sponsorship of chicago community trust in the prior year all programs listed in form 990, part iii, line 4 are new in the current year as leap is now operating as a stand alone not-for-profit organization.”

“Consulting fees: program service expenses 187,761. Management and general expenses 109,646. Fundraising expenses 12,180. Total expenses 309,587.”

“All expenses except payroll are for the period from march 1, 2015 to june 30, 2015, after leap terminated its fiscal sponsorship relationship with chicago community trust. Payroll is recorded for the full fiscal year as leap, even under fiscal sponsorship, was responsible for its own payroll.”