Leap For Education Inc
- Assets
- $1.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 143
- Location
- Salem, MA
- Founding
- 01/2015
- Data as of
- 06/2022
- EIN
- 47-1445061
Organization Overview
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.
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Board, Officers & Key Employees
| 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 |
Financial Statements
| 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 |
Grants Recieved
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 |
Peer Organizations
| 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 |