Civic Intelligence

Leap for Education Inc.

990 • Fiscal year 2019 • EIN 47-1445061

Jul 01, 2018 to Jun 30, 2019 • Filed on Sep 30, 2019

Organization Profilewww.leap4ed.org
35 Congress StSalem, MA 01970

(781) 248-5759

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

67th percentile

0.23x

Higher debt load relative to assets than 67% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

56th percentile

0.12x

Higher debt load relative to revenue than 56% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

66th percentile

10%

Higher net margin than 66% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

51st percentile

$66,161

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 5.7% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

91st percentile

54%

Faster asset growth than 91% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

76th percentile

22%

Faster revenue growth than 76% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$611,499

Up $214,892 (+54%) from 2018

Net Assets

Up

$471,763

Up $118,370 (+33%) from 2018

Liabilities

Up

$139,736

Up $96,522 (+223%) from 2018

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin66th percentile

Revenue

Up

$1,157,723

Up $207,671 (+22%) from 2018

Expenses

Up

$1,039,353

Up $107,187 (+11%) from 2018

Net Income

Up

$118,370

Up $100,484 (+562%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2016: $349,606Liabilities 2016: $61,289Net Assets 2016: $288,3172016Assets 2017: $364,506Liabilities 2017: $28,999Net Assets 2017: $335,5072017Assets 2018: $396,607Liabilities 2018: $43,214Net Assets 2018: $353,3932018Assets 2019: $611,499Liabilities 2019: $139,736Net Assets 2019: $471,7632019Assets 2020: $1,177,585Liabilities 2020: $283,472Net Assets 2020: $894,1132020Assets 2021: $1,539,260Liabilities 2021: $413,507Net Assets 2021: $1,125,7532021Assets 2022: $1,573,811Liabilities 2022: $333,262Net Assets 2022: $1,240,5492022Assets 2023: $2,074,713Liabilities 2023: $582,894Net Assets 2023: $1,491,8192023Assets 2024: $2,021,281Liabilities 2024: $512,790Net Assets 2024: $1,508,4912024Assets 2025: $1,638,805Liabilities 2025: $383,295Net Assets 2025: $1,255,5102025

Highlighted filing

2019

Assets$611,499
Liabilities$139,736
Net Assets$471,763
Open 2019 Filing

Operations Trend

Revenue Growth76th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $944,173Expenses 2016: $671,681Net Income 2016: $272,4922016Revenue 2017: $837,080Expenses 2017: $789,890Net Income 2017: $47,1902017Revenue 2018: $950,052Expenses 2018: $932,166Net Income 2018: $17,8862018Revenue 2019: $1,157,723Expenses 2019: $1,039,353Net Income 2019: $118,3702019Revenue 2020: $1,572,860Expenses 2020: $1,150,510Net Income 2020: $422,3502020Revenue 2021: $1,696,162Expenses 2021: $1,464,522Net Income 2021: $231,6402021Revenue 2022: $1,946,703Expenses 2022: $1,831,907Net Income 2022: $114,7962022Revenue 2023: $2,587,311Expenses 2023: $2,336,041Net Income 2023: $251,2702023Revenue 2024: $2,813,804Expenses 2024: $2,797,132Net Income 2024: $16,6722024Revenue 2025: $2,495,189Expenses 2025: $2,748,170Net Income 2025: -$252,9812025

Highlighted filing

2019

Revenue$1,157,723
Expenses$1,039,353
Net Income$118,370
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Sep 30, 2019
Return Version
2018v3.1
Gross Receipts
$1,157,723
Mission and Program Overview

Mission

To provide academic services to low income and first generation students in grades 6 - 16.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$353,504$499,394▲ $145,890
Accounts Receivable$33,755$93,058▲ $59,303
Prepaid Expenses and Deferred Charges$9,348$19,047▲ $9,699
Total Assets$396,607$611,499▲ $214,892
Liabilities
Accounts Payable and Accrued Expenses$41,214$92,375▲ $51,161
Deferred Revenue$2,000$47,361▲ $45,361
Total Liabilities$43,214$139,736▲ $96,522
Net Assets / Fund Balance
Unrestricted Net Assets$286,800$406,763▲ $119,963
Temporarily Rstr Net Assets$66,593$65,000▼ $1,593
Total Net Assets Fund Balance$353,393$471,763▲ $118,370
Total Liabilities and Net Assets / Fund Balance$396,607$611,499▲ $214,892

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$2,374$2,374
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Linda SarisExecutive DirectorFT$58,000$8,161$66,161

Board Members and Trustees

NameTitle
Dr David SilvaPresident
Connie Rudnick GraysonDirector
Ellen GalliganDirector
Mary Lou BreitbordeDirector
Robert MonegroDirector
Victor E CruzDirector
Jonathan OfilosDirector-partner
Karen MurphySecretary
Jody GoldmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,150,980
Program Service Revenue
$0
Investment Income
$1,201
Other Revenue
$5,542
All Other Contributions
$814,123
Change in Net Assets
$118,370

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,157,723
Revenue Not Reported on Form 990
$75,000
Total Revenue per Audited Statements
$1,232,723
Total Revenue per Form 990
$1,157,723
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$763,843
Other Expenses$275,510
Total Fundraising Expense$130,870
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$488,568$17,038$70,705$576,311
Fees for Services Other$68,546$22,910$2,550$94,006
Occupancy$62,982$3,888$10,886$77,756
Other Employee Benefits$56,396$3,481$9,747$69,624
Payroll Taxes$48,526$2,995$8,387$59,908
Current Officers, Directors, Trustees, and Key Employees$23,200$17,400$17,400$58,000
Fees for Services Accounting$16,200$12,960$3,240$32,400
Other Expenses$21,187$3,365$1,191$25,743
Travel$8,548$1,040$244$9,832
Advertising$868$214$6,520$7,602
Insurance$4,980$1,508-$6,488
Total Functional Expenses$821,684$86,799$130,870$1,039,353

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,114,353
Expenses per Audited Statements$1,039,353
Total Expenses per Form 990$1,039,353
Expenses Not Reported on Form 990$75,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$140,209$96,670$16,391$80,279
Total Events$140,209$96,670$17,614$79,056
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“The Finance Committee reviews and approves the 990 before it is submitted to the full Board for review and approval. This is done prior to the filing of the 990.”

Conflict of interest policy compliance Part VI line 12C

“The Board is required to comply with the conflict of interest policy and inform the Board of any conflicts annually.”

CEO executive director top management comp Part VI line 15A

“The Board determines the salary for the Executive Director reviewing current wage information for non-profits.”

Governing documents etc available to public Part VI line 19

“Governing documents are available upon request or on the Massachusetts Secretary of State website. The 990 can be accessed via Guidestar.”

Filing and Contact Details

Filer

Filer Name
LEAP for Education Inc
EIN
47-1445061
Address
35 Congress St, Salem, MA 01970

Signing Officer

Name
Linda Saris
Title
Executive Direc
Phone
9787406667
Signed
2019-09-30
Discuss with paid preparer
No

Organization Details

Formed
2014
Legal Domicile
Ma
Voting Board Members
10
Independent Board Members
9
Employees
74

Preparer

Firm
Melissa Gilroy CPA
Address
80 Greenacre Rd, Westwood, MA 02090
Preparer
Melissa Gilroy
Phone
7816964019
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Finance Committee reviews and approves the 990 before it is submitted to the full Board for review and approval. This is done prior to the filing of the 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board is required to comply with the conflict of interest policy and inform the Board of any conflicts annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board determines the salary for the Executive Director reviewing current wage information for non-profits.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing documents are available upon request or on the Massachusetts Secretary of State website. The 990 can be accessed via Guidestar.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Linda Saris
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Direc
ReturnHeader/BusinessOfficerGrp/PhoneNum09787406667
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-09-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEAP for Education Inc
ReturnHeader/Filer/BusinessNameControlTxt0LEAP
ReturnHeader/Filer/EIN0471445061

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$611,499
Liabilities
$139,736
Net assets
$471,763
Revenue
$1,157,723
Expenses
$1,039,353
Net income
$118,370
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.64$0.38$1.26$2.50$2.75$0.25
2024Detailed filing. Detailed filing data is available for this year.$2.02$0.51$1.51$2.81$2.80$0.02
2023Detailed filing. Detailed filing data is available for this year.$2.07$0.58$1.49$2.59$2.34$0.25
2022Detailed filing. Detailed filing data is available for this year.$1.57$0.33$1.24$1.95$1.83$0.11
2021Detailed filing. Detailed filing data is available for this year.$1.54$0.41$1.13$1.70$1.46$0.23
2020Detailed filing. Detailed filing data is available for this year.$1.18$0.28$0.89$1.57$1.15$0.42
2019Detailed filing. Detailed filing data is available for this year.$0.61$0.14$0.47$1.16$1.04$0.12
2018Detailed filing. Detailed filing data is available for this year.$0.40$0.04$0.35$0.95$0.93$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.36$0.03$0.34$0.84$0.79$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.35$0.06$0.29$0.94$0.67$0.27