Leap INC FY2024 filing

Tax-deductible

Brooklyn, NY501(c)(3)Since 1992HousingEIN 11-3111694

Leap empowers low and moderate income people by helping them gain access to living-wage employment opportunities and career paths. We seek to develop programs that counter prevailing market inequalities and contribute to a broader movement for economic justice.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$788K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $2.0M a year · 24% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$788K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $1.1M
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.6M
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 12 voting members
Looks good: 11 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15.5M
+112% vs prior year
Spent
$7.7M
To programs
84%
Net assets
$12.8M
By yearFY2020–FY2024
Revenue
$15.5M
FY2024▲ +112%
Revenue by fiscal year
FY2020$5.3M
FY2021$6.3M
FY2022$6.1M
FY2023$7.3M
FY2024$15.5M
FY2024$8.2M
Expenses
$7.7M
FY2024▲ +14%
Expenses by fiscal year
FY2020$5.3M
FY2021$5.3M
FY2022$5.7M
FY2023$6.7M
FY2024$7.7M
FY2024$8.0M
Net assets
$12.8M
FY2024▲ +157%
Net assets by fiscal year
FY2020$3.1M
FY2021$4.0M
FY2022$4.4M
FY2023$5.0M
FY2024$12.8M
FY2024$13.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1992.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $6.5M Management & general 8% · $634K Fundraising 7% · $565K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

20 people listed on the 990; $788K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director
$224,375Pt VII · Sec A
Development Director
$138,591Pt VII · Sec A
Director of Brooklyn Woods
$113,570Pt VII · Sec A
Program Director
$104,846Pt VII · Sec A
Director of Media Programs
$103,792Pt VII · Sec A
Director of Contracts, People, & Operations
$102,729Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Aaron Shiffman’s $261K as Executive Director is at the 94th percentile of top reported officer pay among 2036 $1–10M housing 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 · 7 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Aaron Shiffman$261,093$224,375$214,693$188,090$187,758$180,913
Shawn Hegele$185,938$138,591$138,294$119,326$119,287$115,585
Julio Perez——$105,392$130,864$129,412$125,707
Scott Peltzer$121,945$113,570$110,318$107,254$105,901$104,375
Venus Sherie Anderson$121,283$103,792————
Erik C Jones$119,235$102,729————
Vanessa Soto$112,560$104,846————

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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps low-income people find living-wage jobs and build careers to fight economic inequality.

Provided by the organization

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3 program services account for $2.9M of program spending, described in the organization's own filed words · FY2023.
01

Red Hook on the Road

Red hook on the road is bwi's commercial driving training program. This four-week program prepares participants for jobs as drivers of "class B/BPS" commercial vehicles including trucks, school buses, coach or charter buses, airport shuttle buses and access-a-ride and other para-transit vehicles.

$1.4Mprogram expense
02

Bwi's Nycha Resident Training Academy

Bwi's nycha resident training academy prepares public housing residents for careers with the new york city housing authority (nycha). Enrollees participate in up to six weeks of training for various employment opportunities including pest control techs and janitorial caretaker positions - on nycha developments throughout the five…

$838Kprogram expense
03

Brooklyn Woods

Brooklyn woods trains new yorkers for careers in woodworking and fabrication. Through seven weeks of classroom and hands-on training, graduates learn shop production, math and measurement, finishing techniques, cabinet installation, mechanical drawing, and the safe use and proper care of hand and power tools in bwi's custom-built…

$608Kprogram 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 · FY2024
See all 8 funders →
Grants paid · 6 grants · $243K · 2020–2024
Unitemized GrantFY2024$71,180
Unitemized GrantFY2023$66,890
Unitemized GrantFY2022$50,298
Unitemized GrantFY2021$34,300
Unitemized GrantFY2021$6,682
Unitemized GrantFY2020$13,300

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$15.5M
Ln 12
Gifts and grantsLn 1h$14.9M
Investment incomeLn 3$368K
Fees for servicesLn 2g$274K
Money outPt IX
$7.7M
Ln 25
Programscol B$6.5M
Managementcol C$634K
Fundraisingcol D$565K
Owns and owesPt X
$12.8M
net assets · Ln 32
Cash and savingsLn 1–2$877K
Total assetsLn 16$14.4M
LiabilitiesLn 26$1.6M
PeoplePt VI, VII
20
listed · VII A
PaidVII A6
Voting boardVI 1a12
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$14.9M
Government grantsLn 1e$1.1M
Fundraising eventsLn 1c$136K
Fees for servicesLn 2g$274K
Investment incomeLn 3$368K
Other incomeLn 4–11$277
Total revenueLn 12$15.5M
Assets in detailPt X, end of year
CashLn 1$877K
Cash and savings togetherLn 1–2$877K
InvestmentsLn 11–13$10.4M
Land, buildings, equipmentLn 10c$348K
Other assetsLn 15$1.0M
Total assetsLn 16$14.4M
LiabilitiesLn 26$1.6M
Net assetsLn 32$12.8M
OperationsPt I, VI
EmployeesI 569
VolunteersI 660
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.3M$877K
InvestmentsLn 11–13$11K$10.4M
Land, buildings, equipmentLn 10c$407K$348K
Total assetsLn 16$7.0M$14.4M
LiabilitiesLn 26$2.0M$1.6M
Net assetsLn 32$5.0M$12.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$67K$67K
Pay of current officers, directors and key staffLn 5$297K$242K$24K$31K
Other salaries and wagesLn 7$3.1M$2.6M$189K$331K
Pension plan contributionsLn 8$100K$81K$8K$11K
Other employee benefitsLn 9$466K$379K$38K$49K
Payroll taxesLn 10$295K$240K$24K$31K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$82K$27K$55K
Other fees for servicesLn 11g$283K$203K$35K$45K
Advertising and promotionLn 12$129K$78K$23K$28K
Office expensesLn 13$172K$149K$12K$12K
Information technologyLn 14$272K$229K$30K$13K
OccupancyLn 16$697K$654K$34K$9K
TravelLn 17$144K$106K$32K$7K
Depreciation, depletion and amortizationLn 22$77K$77K
InsuranceLn 23$24K$4K$21K
Other expenses (24a–d)Ln 24$1.4M$1.4M$31K
All other expensesLn 24e$3K$3K$275
Total functional expensesLn 25$7.7M$6.5M$634K$565K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $15.5M$7.7M$7.8M$12.8M 990 PDF
FY2023 $7.3M$6.7M$571K$5.0M 990 PDF
FY2022 $6.1M$5.7M$394K$4.4M 990 PDF
FY2021 $6.3M$5.3M$987K$4.0M 990 PDF
FY2020 $5.3M$5.3M$55K$3.1M 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
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $15,506,772 across 10 lines filed
VIII-1c Fundraising events$136,306
VIII-1d Related organizations$101,090
VIII-1e Government grants$1,142,035
VIII-1f All other contributions, gifts and grants$13,485,339
VIII-1h Total contributions, gifts and grants$14,864,770
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $273,550$273,550
VIII-3 Investment incomeExcluded from tax $368,175$368,175
VIII-8 Net income from fundraising eventsExcluded from tax −$2,334−$2,334
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $2,611$2,611
VIII-12 Total revenueRelated to mission $273,550 · Unrelated business $0 · Excluded from tax $368,452$15,506,772
Part IX · Statement of functional expenses $7,667,191 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $66,890$66,890
IX-5 Pay of current officers, directors and key staffPrograms $241,761 · Management $24,167 · Fundraising $31,428$297,356
IX-7 Other salaries and wagesPrograms $2,609,919 · Management $188,506 · Fundraising $330,726$3,129,151
IX-8 Pension plan contributionsPrograms $81,086 · Management $8,106 · Fundraising $10,541$99,733
IX-9 Other employee benefitsPrograms $379,060 · Management $37,892 · Fundraising $49,276$466,228
IX-10 Payroll taxesPrograms $239,544 · Management $23,946 · Fundraising $31,140$294,630
IX-11b Legal feesManagement $1,832$1,832
IX-11c Accounting feesPrograms $26,879 · Management $55,068$81,947
IX-11g Other fees for servicesPrograms $203,229 · Management $35,198 · Fundraising $44,828$283,255
IX-12 Advertising and promotionPrograms $78,272 · Management $22,777 · Fundraising $27,611$128,660
IX-13 Office expensesPrograms $148,738 · Management $12,136 · Fundraising $11,522$172,396
IX-14 Information technologyPrograms $228,717 · Management $30,010 · Fundraising $13,184$271,911
IX-16 OccupancyPrograms $654,091 · Management $34,027 · Fundraising $8,614$696,732
IX-17 TravelPrograms $105,794 · Management $31,794 · Fundraising $6,504$144,092
IX-22 Depreciation, depletion and amortizationManagement $76,813$76,813
IX-23 InsurancePrograms $3,500 · Management $20,653$24,153
IX-24 Other expenses (24a–d)Programs $1,397,272 · Management $31,235$1,428,507
IX-24e All other expensesPrograms $2,630 · Management $275$2,905
IX-25 Total functional expensesPrograms $6,467,382 · Management $634,435 · Fundraising $565,374$7,667,191
Part X · Balance sheet $14,404,014 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $3,261,971$877,258
X-3 Pledges and grants receivableStart of year $1,465,079$1,643,101
X-4 Accounts receivableStart of year $324,658$123,608
X-9 Prepaid expenses and deferred chargesStart of year $12,654$13,160
X-10c Land, buildings and equipment, netStart of year $406,981$347,566
X-11 Publicly traded securitiesStart of year $10,605$10,381,457
X-15 Other assetsStart of year $1,484,399$1,017,864
X-16 Total assetsStart of year $6,966,347$14,404,014
X-17 Accounts payable and accrued expensesStart of year $503,605$556,634
X-25 Other liabilitiesStart of year $1,467,591$1,008,204
X-26 Total liabilitiesStart of year $1,971,196$1,564,838
X-27 Net assets without donor restrictionsStart of year $4,681,042$12,503,023
X-28 Net assets with donor restrictionsStart of year $314,109$336,153
X-32 Total net assets or fund balancesStart of year $4,995,151$12,839,176
X-33 Total liabilities and net assetsStart of year $6,966,347$14,404,014
Part XI · Reconciliation of net assets $12,839,176 net assets at year end
XI-1 Total revenue$15,506,772
XI-2 Total expenses$7,667,191
XI-3 Revenue less expenses$7,839,581
XI-4 Net assets at start of year$4,995,151
XI-5 Net unrealized gains (losses) on investments$4,444
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$12,839,176

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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