Civic Intelligence

Leap Year Inc

990 • Fiscal year 2021 • EIN 81-1224809

Jul 01, 2020 to Jun 30, 2021 • Filed on Oct 26, 2021

229 Peachtree St NE Ste 725Atlanta, GA 30303

(404) 500-9946

Siviq Scores

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

Liabilities / Assets

79th percentile

0.13x

Higher debt load relative to assets than 79% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

78th percentile

0.09x

Higher debt load relative to revenue than 78% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

83rd percentile

43%

Higher net margin than 83% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

93rd percentile

$54,400

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 12.3% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

94th percentile

209%

Faster asset growth than 94% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

87th percentile

119%

Faster revenue growth than 87% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$293,052

Up $198,230 (+209%) from 2020

Net Assets

Up

$254,647

Up $192,387 (+309%) from 2020

Liabilities

Up

$38,405

Up $5,843 (+18%) from 2020

Revenue

Up

$443,083

Up $240,482 (+119%) from 2020

Expenses

Up

$250,696

Up $63,946 (+34%) from 2020

Net Income

Up

$192,387

Up $176,536 (+1114%) from 2020

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2018: $20,697Liabilities 2018: $7,336Net Assets 2018: $13,3612018Assets 2019: $50,297Liabilities 2019: $2,398Net Assets 2019: $47,8992019Assets 2020: $94,822Liabilities 2020: $32,562Net Assets 2020: $62,2602020Assets 2021: $293,052Liabilities 2021: $38,405Net Assets 2021: $254,6472021Assets 2022: $332,998Liabilities 2022: $44,936Net Assets 2022: $288,0622022Assets 2023: $445,847Liabilities 2023: $33,721Net Assets 2023: $412,1262023Assets 2024: $381,537Liabilities 2024: $27,634Net Assets 2024: $353,9032024Assets 2025: $169,105Liabilities 2025: $13,492Net Assets 2025: $155,6132025

Highlighted filing

2021

Assets$293,052
Liabilities$38,405
Net Assets$254,647

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2018: $98,129Expenses 2018: $84,856Net Income 2018: $13,2732018Revenue 2019: $254,450Expenses 2019: $219,180Net Income 2019: $35,2702019Revenue 2020: $202,601Expenses 2020: $186,750Net Income 2020: $15,8512020Revenue 2021: $443,083Expenses 2021: $250,696Net Income 2021: $192,3872021Revenue 2022: $471,232Expenses 2022: $437,817Net Income 2022: $33,4152022Revenue 2023: $720,244Expenses 2023: $595,570Net Income 2023: $124,6742023Revenue 2024: $569,914Expenses 2024: $628,137Net Income 2024: -$58,2232024Revenue 2025: $554,237Expenses 2025: $752,527Net Income 2025: -$198,2902025

Highlighted filing

2021

Revenue$443,083
Expenses$250,696
Net Income$192,387
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Oct 26, 2021
Return Version
2020v4.0
Gross Receipts
$443,083
Mission and Program Overview

Mission

The mission of leap year inc is to prepare young, talented students to reach their academic and leadership potential by attending college and breaking the cycle of poverty.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$92,012$284,241▲ $192,229
Land, Buildings, and Equipment, Net$2,810$8,811▲ $6,001
Total Assets$94,822$293,052▲ $198,230
Liabilities
Other Liabilities$30,440$36,509▲ $6,069
Accounts Payable and Accrued Expenses$2,122$1,896▼ $226
Total Liabilities$32,562$38,405▲ $5,843
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$62,260$254,647▲ $192,387
Total Net Assets Fund Balance$62,260$254,647▲ $192,387
Total Liabilities and Net Assets / Fund Balance$94,822$293,052▲ $198,230

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$8,811$4,543$13,354
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Amber ScottExecutive DiFT$54,400$54,400

Board Members and Trustees

NameTitle
Heather HallettChair
Spencer TysonVice Chair
Ayana Greer-buckBoard Member
Benjamin TolbertBoard Member
Bria StevensBoard Member
Bryn SavageBoard Member
Cindy CheathamBoard Member
Devany BrownBoard Member
Jackie Jenkins-scottBoard Member
Jenny StreeterBoard Member
La Novia NealBoard Member
Marie GoodingBoard Member
Rohit AgarwalBoard Member
Thomas SmithSecretary
Laura TshilumbaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$384,615
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$58,468
All Other Contributions
$336,675
Change in Net Assets
$192,387
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$202,210
Other Expenses$30,705
Grants and Similar Amounts Paid$17,781
Total Fundraising Expense$7,746
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$63,845$68,298-$132,143
Current Officers, Directors, Trustees, and Key Employees-$54,400-$54,400
Grants to Domestic Individuals$17,781--$17,781
Payroll Taxes$5,891$9,776-$15,667
Fees for Services Other-$10,771-$10,771
Fees for Services Accounting-$3,913-$3,913
Insurance-$3,214-$3,214
Office Expenses-$3,058-$3,058
Depreciation Depletion$375$1,124-$1,499
Advertising-$375-$375
Other Expenses-$38$7,746$38
Total Functional Expenses$87,892$155,058$7,746$250,696
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$58,468
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Bridge Builders$58,468$58,468-$58,468
Total Events$58,468$58,468-$58,468
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Paycheck Protection Loan$36,509
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Leap Year Inc
EIN
81-1224809
Phone
4045009946
Address
229 PEACHTREE ST NE STE 725, ATLANTA, GA 30303

Signing Officer

Name
Amber Scott
Title
Executive Director
Phone
4045009946
Signed
2021-10-26

Organization Details

Principal Officer
Amber Scott
Formed
2017
Legal Domicile
Ga
Voting Board Members
15
Independent Board Members
15
Employees
24
Volunteers
20

Preparer

Firm
Miles K Thoroman CPA Pc
Address
3473 LAWRENCEVILLE SUWANEE RD STE A, SUWANEE, GA 30024
Preparer
Miles K Thoroman
Phone
7708130900
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Founded in 2016, leap year is a 501(c)(3) nonprofit dedicated to improving college success and literacy rates in metro atlanta by recruiting first- generation high school graduates to serve as fellows. These fellows act as second-grade reading coaches while they participate in leap year's yearlong community service and college readiness program. Our mission is to use an intergenerational approach to equip elementary and recent high school graduates with the tools to achieve their academic and leadership potential. In our yearlong full-time program, leap year fellows spend 20 hours per week as part-time reading coaches, gaining invaluable leadership and professional skills while helping second-grade students improve their reading skills. During the remaining 20 hours per week, fellows work on college preparation through academic readiness workshops, applying to colleges and completing the free application for federal student aid (fafsa), learning socio-emotional skills, and taking college courses at georgia state university for credit. During the year, fellows earn 500 per month to assist with paying bills and contributing to their household expenses. This helps ensure some financial stability while participating in our program. Their leap year culminates with entering college prepared to graduate, strengthening two generations by providing talented students a chance to fulfill their college and leadership potential while helping young scholars in second grade build a strong foundation in reading. To date, we have served over 300 students on their academic journey, including 270 second-graders and 30 fellows (prospective first-generation college students). During the 2021-2022 school year, leap year has expanded our program to partner with three elementary schools, serving over 220 second-graders and 20 leap year fellows.

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IRS990/Desc0FOUNDED IN 2016, LEAP YEAR IS A 501(C)(3) NONPROFIT DEDICATED TO IMPROVING COLLEGE SUCCESS AND LITERACY RATES IN METRO ATLANTA BY RECRUITING FIRST- GENERATION HIGH SCHOOL GRADUATES TO SERVE AS FELLOWS. THESE FELLOWS ACT AS SECOND-GRADE READING COACHES WHILE THEY PARTICIPATE IN LEAP YEAR'S YEARLONG COMMUNITY SERVICE AND COLLEGE READINESS PROGRAM. OUR MISSION IS TO USE AN INTERGENERATIONAL APPROACH TO EQUIP ELEMENTARY AND RECENT HIGH SCHOOL GRADUATES WITH THE TOOLS TO ACHIEVE THEIR ACADEMIC AND LEADERSHIP POTENTIAL. IN OUR YEARLONG FULL-TIME PROGRAM, LEAP YEAR FELLOWS SPEND 20 HOURS PER WEEK AS PART-TIME READING COACHES, GAINING INVALUABLE LEADERSHIP AND PROFESSIONAL SKILLS WHILE HELPING SECOND-GRADE STUDENTS IMPROVE THEIR READING SKILLS. DURING THE REMAINING 20 HOURS PER WEEK, FELLOWS WORK ON COLLEGE PREPARATION THROUGH ACADEMIC READINESS WORKSHOPS, APPLYING TO COLLEGES AND COMPLETING THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA), LEARNING SOCIO-EMOTIONAL SKILLS, AND TAKING COLLEGE COURSES AT GEORGIA STATE UNIVERSITY FOR CREDIT. DURING THE YEAR, FELLOWS EARN 500 PER MONTH TO ASSIST WITH PAYING BILLS AND CONTRIBUTING TO THEIR HOUSEHOLD EXPENSES. THIS HELPS ENSURE SOME FINANCIAL STABILITY WHILE PARTICIPATING IN OUR PROGRAM. THEIR LEAP YEAR CULMINATES WITH ENTERING COLLEGE PREPARED TO GRADUATE, STRENGTHENING TWO GENERATIONS BY PROVIDING TALENTED STUDENTS A CHANCE TO FULFILL THEIR COLLEGE AND LEADERSHIP POTENTIAL WHILE HELPING YOUNG SCHOLARS IN SECOND GRADE BUILD A STRONG FOUNDATION IN READING. TO DATE, WE HAVE SERVED OVER 300 STUDENTS ON THEIR ACADEMIC JOURNEY, INCLUDING 270 SECOND-GRADERS AND 30 FELLOWS (PROSPECTIVE FIRST-GENERATION COLLEGE STUDENTS). DURING THE 2021-2022 SCHOOL YEAR, LEAP YEAR HAS EXPANDED OUR PROGRAM TO PARTNER WITH THREE ELEMENTARY SCHOOLS, SERVING OVER 220 SECOND-GRADERS AND 20 LEAP YEAR FELLOWS.
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IRS990/PrincipalOfficerNm0AMBER SCOTT
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt036509
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FOUNDED IN 2016, LEAP YEAR IS A 501(C)(3) NONPROFIT DEDICATED TO IMPROVING COLLEGE SUCCESS AND LITERACY RATES IN METRO ATLANTA BY RECRUITING FIRST- GENERATION HIGH SCHOOL GRADUATES TO SERVE AS FELLOWS. THESE FELLOWS ACT AS SECOND-GRADE READING COACHES WHILE THEY PARTICIPATE IN LEAP YEAR'S YEARLONG COMMUNITY SERVICE AND COLLEGE READINESS PROGRAM. OUR MISSION IS TO USE AN INTERGENERATIONAL APPROACH TO EQUIP ELEMENTARY AND RECENT HIGH SCHOOL GRADUATES WITH THE TOOLS TO ACHIEVE THEIR ACADEMIC AND LEADERSHIP POTENTIAL. IN OUR YEARLONG FULL-TIME PROGRAM, LEAP YEAR FELLOWS SPEND 20 HOURS PER WEEK AS PART-TIME READING COACHES, GAINING INVALUABLE LEADERSHIP AND PROFESSIONAL SKILLS WHILE HELPING SECOND-GRADE STUDENTS IMPROVE THEIR READING SKILLS. DURING THE REMAINING 20 HOURS PER WEEK, FELLOWS WORK ON COLLEGE PREPARATION THROUGH ACADEMIC READINESS WORKSHOPS, APPLYING TO COLLEGES AND COMPLETING THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA), LEARNING SOCIO-EMOTIONAL SKILLS, AND TAKING COLLEGE COURSES AT GEORGIA STATE UNIVERSITY FOR CREDIT. DURING THE YEAR, FELLOWS EARN 500 PER MONTH TO ASSIST WITH PAYING BILLS AND CONTRIBUTING TO THEIR HOUSEHOLD EXPENSES. THIS HELPS ENSURE SOME FINANCIAL STABILITY WHILE PARTICIPATING IN OUR PROGRAM. THEIR LEAP YEAR CULMINATES WITH ENTERING COLLEGE PREPARED TO GRADUATE, STRENGTHENING TWO GENERATIONS BY PROVIDING TALENTED STUDENTS A CHANCE TO FULFILL THEIR COLLEGE AND LEADERSHIP POTENTIAL WHILE HELPING YOUNG SCHOLARS IN SECOND GRADE BUILD A STRONG FOUNDATION IN READING. TO DATE, WE HAVE SERVED OVER 300 STUDENTS ON THEIR ACADEMIC JOURNEY, INCLUDING 270 SECOND-GRADERS AND 30 FELLOWS (PROSPECTIVE FIRST-GENERATION COLLEGE STUDENTS). DURING THE 2021-2022 SCHOOL YEAR, LEAP YEAR HAS EXPANDED OUR PROGRAM TO PARTNER WITH THREE ELEMENTARY SCHOOLS, SERVING OVER 220 SECOND-GRADERS AND 20 LEAP YEAR FELLOWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/USAddress/AddressLine2Txt0SUITE 275
IRS990/USAddress/CityNm0ATLANTA
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IRS990/WebsiteAddressTxt0WWW.THELEAPYEAR.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0AMBER SCOTT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04045009946
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LEAP YEAR INC
ReturnHeader/Filer/BusinessNameControlTxt0LEAP
ReturnHeader/Filer/EIN0811224809
ReturnHeader/Filer/PhoneNum04045009946
ReturnHeader/Filer/USAddress/AddressLine1Txt0229 PEACHTREE ST NE STE 725
ReturnHeader/Filer/USAddress/CityNm0ATLANTA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0581776540
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MILES K THOROMAN CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03473 LAWRENCEVILLE SUWANEE RD STE A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SUWANEE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030024
ReturnHeader/PreparerPersonGrp/PhoneNum07708130900
ReturnHeader/PreparerPersonGrp/PreparationDt02021-10-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MILES K THOROMAN
ReturnHeader/ReturnTs02021-11-02T09:15:13-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0AMBER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SCOTT
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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