Leap Foundation Inc

Analysis

Leap Foundation Inc is a registered charity in United States, based in Lansing, MI. It received its IRS tax-exemption ruling in January 2008, 18 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Leap Foundation Inc reported income of $191k and spending of $226k, spending 118% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $241k to $191k (-20%), an average of -20% a year. The sharpest change came in the year to December 2023, when income dropped by 20%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Leap Foundation Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 52nd percentile within MI. Charities of a similar size with the same main cause include Third Place Inc ($191k), Funding Retention & Incr Efforts for Not Econ Dev in Sevier Co Foun ($191k) and Guadalupe Community Development Corporation ($191k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $101k against liabilities of $40k, net assets of $61k.