Leap Innovations

Analysis

Leap Innovations is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in October 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Leap Innovations reported income of $1.1m and spending of $2.0m, spending 186% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $10.8m to $1.1m (-90%), an average of -44% a year. The sharpest change came in the year to June 2023, when income dropped by 71%. Over the whole period it spent 119% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Leap Innovations sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within IL. Charities of a similar size with the same main cause include Faith Child Care Inc ($1.1m), Ferris Christian Academy ($1.1m) and Good Neighbors Thrift Shop Inc ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $492k (24% of expenses). Other salaries and wages came to $633k. At year end it held assets of $1.1m against liabilities of $355k, net assets of $712k. It reported 17 employees.