Leo INC FY2020 filing

Lynn, MA · Public charity (501(c)(3)) · Since 1965 · Human Services

✓ Tax-deductible
Revenue
$12.2M
Spent
$12.0M
To programs
87%
Net assets
$8.5M
By yearFY2020–FY2024
Revenue
$12.2M
FY2020
Revenue by fiscal year
FY2020$12.2M
FY2021$12.7M
FY2022$18.3M
FY2023$15.1M
FY2024$16.9M
FY2024$17.5M
Expenses
$12.0M
FY2020
Expenses by fiscal year
FY2020$12.0M
FY2021$11.8M
FY2022$15.2M
FY2023$13.9M
FY2024$13.9M
FY2024$14.9M
Net assets
$8.5M
FY2020
Net assets by fiscal year
FY2020$8.5M
FY2021$9.5M
FY2022$12.6M
FY2023$13.8M
FY2024$16.8M
FY2024$19.4M

From the FY2020 Form 990 (year ending September 2020) · figures checked against the IRS filing · see the original

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Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CLeo INC
EINHdr · item D04-2378885
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFSep 1967
Year of formationHdr · item L1965
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CLynn, MA
NTEE classificationIRS BMFHuman Services (P400)
WebsiteHdr · item Jwww.leoinc.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.87 Management & general $0.13
Program services87%$10.4M
Management & general13%$1.6M
Total functional expensesLn 25$12.0M

Financial health

Is it on solid ground?

Program efficiency
87%
of spending reaches programs
Operating runway
5.7mo
months of highly liquid reserves at operating expense rate
Surplus margin
+2%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Total assets
$12.2M
FY2020
Total assets by fiscal year
FY2020$12.2M
FY2021$14.6M
FY2022$14.3M
FY2023$16.7M
FY2024$24.2M
FY2024$26.4M
Total liabilities
$3.7M
FY2020
Total liabilities by fiscal year
FY2020$3.7M
FY2021$5.1M
FY2022$1.7M
FY2023$2.9M
FY2024$7.4M
FY2024$7.0M
Revenue less expensesPt I · Ln 19$256K
Total assetsPt X · Ln 16$12.2M
Program-expense ratioPt IX · col B87%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414

Balance Sheet

Part X · end of year
CashLn 1$5.7M
Total assetsLn 16$12.2M
Total liabilitiesLn 26$3.7M
Total net assetsLn 32$8.5M
Months of cash on handcomputed5.7

Statement of Revenue

Part VIII
Contributions & grants$12.0M · 98%
Other revenue$139K · 1%
Contributions & grants98%$12.0M
Other revenue1%$139K
Program service revenue$60K
Investment income$24K
— government grantsLn 1e$10.7M
Total revenueLn 12$12.2M

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $5.7M · Operating expenses (Pt IX) $12.0M · Less non-cash grants $51K · Cash operating expenses/yr $11.9M
5.7 months
Where the money goes
Program services
Program services $10.4M · Total expenses $12.0M
87%
Management & General
Management & general $1.6M · Total expenses $12.0M
13%
Fundraising
Fundraising $0 · Total expenses $12.0M
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $1.3M
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $12.0M · Total revenue $12.2M
98%
Government reliance
Government grants $10.7M · Total revenue $12.2M
88%
Earned-income share
Program service revenue $60K · Total revenue $12.2M
0.5%
Investment reliance
Investment income $24K · Total revenue $12.2M
+0.2%
Program self-sufficiency
Program service revenue $60K · Total expenses $12.0M
0.5%
Growth & trend
Revenue growth (YoY)
This year $12.2M · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $8.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $12.2M · Expenses $12.0M
+2%
Liabilities-to-Assets
Total liabilities — · Total assets $12.2M
—
Net-asset ratio
Net assets $8.5M · Total assets $12.2M
70%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $12.2M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Birgitta Damon · Reported title CHIEF EXECUTIVE OFFICER · Highest reported compensation $159K · Total expenses $12.0M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $6.3M · Total expenses $12.0M
53%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 87%——
Overhead ratio 13%——
Fundraising cost ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Chief Executive Officer
$159,018Pt VII · Sec A
$136,699Pt VII · Sec A
Chief Program Officer
$113,549Pt VII · Sec A
Program Director
$103,821Pt VII · Sec A
Development Director
$101,631Pt VII · Sec A
Controller / CFO
$93,187Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Birgitta S Damon’s $194K as Chief Executive Officer is at the 42nd percentile of top reported officer pay among 3122 $10–100M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Birgitta S Damon$194,130$177,748$168,144$170,168——
Birgitta Damon————$163,442$159,018
Kara Murphy$146,500$143,088$139,359$62,469——
Kristina Sampon—————$136,699
Bridget G Bertrand—$135,830$127,265$123,018——
Lilian Romero$132,686$130,098$122,058$122,468$116,229$113,549
Mary Ellen Jenkins$127,008—————
Lisa McFadden$122,282$117,626$111,181$109,891$103,846—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Governance & Policies

Part VI
  • 14Voting board membersPt VI · Ln 1a
  • 14Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Alleviates poverty's impact and builds financial stability for families, strengthening the community.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $10.4M of program spending, described in the organization's own filed words · FY2019.
01

Early education and child care services include head start (ages 3-5), early head start (ages BIRTH-3) and after school care (ages 5-12) at four child care centers in lynn, ma and through a home-based component. Annually, leo provides services for more than 600 children.

$5.1Mprogram expense
02

Leo, inc. Provides fuel assistance through the massachusetts low income housing energy assistance program (liheap), which protects eligible low-income households from the high cost of home heating. Eligibility and benefits are based on family size and income.

$3.9Mprogram expense
03

Community Service Program

Services to stabilize individuals facing financial emergencies as a result of poverty.

$1.3Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$34K
Grants paid · 6 grants · $11.7M · 2022–2024
Unitemized GrantFY2024$3,144,414
Unitemized GrantFY2024$13,190
Unitemized GrantFY2023$4,042,272
Unitemized GrantFY2023$59,333
Unitemized GrantFY2022$4,240,760
Unitemized GrantFY2022$202,757

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $16.9M$13.9M+12% 990 PDF
FY2023 $15.1M$13.9M-17% 990 PDF
FY2022 $18.3M$15.2M+43% 990 PDF
FY2021 $12.7M$11.8M+4% 990 PDF
FY2020 Viewing $12.2M$12.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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