Leap for Education Inc

Analysis

Leap for Education Inc is a registered charity in United States, based in Salem, MA. It received its IRS tax-exemption ruling in January 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2024, Leap for Education Inc reported income of $2.8m and spending of $2.8m, spending 99% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.6m to $2.8m (+79%), an average of +16% a year. The sharpest change came in the year to June 2023, when income rose by 33%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Leap for Education Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 87th percentile within MA. Charities of a similar size with the same main cause include Trinity School Inc ($2.8m), Billings Catholic Schools Foundation ($2.8m) and Highland Park Montessori School Inc ($2.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $106k (3.8% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $2.0m against liabilities of $513k, net assets of $1.5m. It reported 185 employees.