Quantum Leap Incorporated

Analysis

Quantum Leap Incorporated is a registered charity in United States, based in Owings Mills, MD. It received its IRS tax-exemption ruling in April 2009, 17 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Quantum Leap Incorporated reported income of $12.4m and spending of $12.7m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.5m to $12.4m (+91%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 40%. Over the whole period it spent 98% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Quantum Leap Incorporated sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MD. Charities of a similar size with the same main cause include Residential Options Inc ($12.4m), Crispus Attucks Association of York Pennsylvania ($12.5m) and Menorah Plaza Housing Corporation ($12.4m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 97% of the total. Other salaries and wages came to $5.9m. At year end it held assets of $7.6m against liabilities of $7.1m, net assets of $513k. It reported 192 employees.