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Leal Elementary Arts Program Leap FY2024 filing

Tax-deductible

Cerritos, CA501(c)(3)Education EIN 45-0519762Revenue $161K in FY2024

On file with the IRSleapforleal.org12920 Droxford St, 90703-6068 · Cerritos, CATax-exempt since Mar 2004Publicly supported — 509(a)(2)

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To provide enhanced educational opportunities in the Arts

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $35K a year · 22% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 11.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $569
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$5K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$161K
-22% vs prior year
Spent
$138K
To programs
90%
Net assets
$130K
By yearFY2021–FY2025
Revenue
$161K
FY2024▼ -22%
Tap a bar for its year
Revenue by fiscal year
FY2021$15K
FY2022$151K
FY2023$208K
FY2024$161K
FY2025$99K
Expenses
$138K
FY2024▼ -46%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022Not on file
FY2023$254K
FY2024$138K
FY2025$181K
Net assets
$130K
FY2024▲ +22%
Tap a bar for its year
Net assets by fiscal year
FY2021$137K
FY2022$152K
FY2023$107K
FY2024$130K
FY2025$48K

From the FY2024 Form 990 (year ending July 2024) · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2004.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $124K Management & general 10% · $14K

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

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Tatania Y Bui
President
$0Pt VII · Sec A
Belle Chen
Treasurer
$0Pt VII · Sec A
Justine Han-Wang
Vice Preside
$0Pt VII · Sec A
Suzanne Kim
Vice Preside
$0Pt VII · Sec A
Hazel Layson
Secretary
$0Pt VII · Sec A
Jessica Lee
President
$0Pt VII · Sec A
Terrance Lee
Treasurer
$0Pt VII · Sec A
Manoshi Shah
Secretary
$0Pt VII · Sec A
See Leal Elementary Arts Program Leap executive salaries →

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers enhanced educational opportunities in the arts.

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Provided by the organization

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1 program · $124K · in their own filed words · FY2023
01

To promote and support educational needs of students, teachers and community members through art programs, after school and summer classes, musicals, talent shows, and cultural events.

$124Kprogram expense

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 · FY2023
Bank of America Charitable Foundation INCFY2023$500
Amazonsmile FoundationFY2023$69
Total grants receivedfrom 2 funders$569
Grants paid · 1 grant · $60K · 2022–2022
Frank Leal Elementary SchoolFY2022$60,089

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$161K
Ln 12
Fees for servicesLn 2g$137K
Gifts and grantsLn 1h$21K
Investment incomeLn 3$3K
Money outPt IX
$138K
Ln 25
Programscol B$124K
Managementcol C$14K
Owns and owesPt X
$130K
net assets · Ln 32
Cash and savingsLn 1–2$135K
Total assetsLn 16$135K
LiabilitiesLn 26$5K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$21K
Fees for servicesLn 2g$137K
Investment incomeLn 3$3K
Total revenueLn 12$161K
Assets in detailPt X, end of year
CashLn 1$135K
Cash and savings togetherLn 1–2$135K
Other assetsLn 15$66
Total assetsLn 16$135K
LiabilitiesLn 26$5K
Net assetsLn 32$130K
OperationsPt I, VI
EmployeesI 515
VolunteersI 650
Fiscal year endsHeaderJuly
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$107K$135K
Total assetsLn 16$107K$135K
LiabilitiesLn 26$706$5K
Net assetsLn 32$107K$130K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$182$182
Payroll taxesLn 10$4K$4K
Other fees for servicesLn 11g$2K$2K
Office expensesLn 13$948$948
Information technologyLn 14$4K$4K
Conferences, conventions and meetingsLn 19$2K$2K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$96K$96K
All other expensesLn 24e$28K$28K$100
Total functional expensesLn 25$138K$124K$14K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $99K$181K−$81K$48K 990 PDF
FY2024 Viewing $161K$138K$23K$130K 990 PDF
FY2023 $208K$254K−$46K$107K 990 PDF
FY2022 $151K$152K 990 PDF
FY2021 $15K$137K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $161,449 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $14,796$20,983
I-9 Program service revenuePrior year $192,057$137,116
I-10 Investment incomePrior year $156$3,350
I-11 Other revenuePrior year $1,292$0
I-12 Total revenuePrior year $208,301$161,449
I-13 Grants and similar amounts paidPrior year $67,313$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $125,682$4,489
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $60,818$133,630
I-18 Total expensesPrior year $253,813$138,119
I-19 Revenue less expensesPrior year −$45,512$23,330
Part VI · Governance 8 of 8 board members independent, 5 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $161,449 across 6 lines filed
Lines not itemized here account for $5,872 of total revenue; see the IRS return.
VIII-1b Membership dues$16,798
VIII-1f All other contributions, gifts and grants$4,185
VIII-1h Total contributions, gifts and grants$20,983
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $131,244$131,244
VIII-3 Investment incomeRelated to mission $3,350$3,350
VIII-12 Total revenueRelated to mission $140,466$161,449
Part IX · Statement of functional expenses $138,119 across 9 lines filed
IX-7 Other salaries and wagesPrograms $182$182
IX-10 Payroll taxesManagement $4,307$4,307
IX-11g Other fees for servicesManagement $1,893$1,893
IX-13 Office expensesManagement $948$948
IX-14 Information technologyManagement $3,722$3,722
IX-19 Conferences, conventions and meetingsManagement $1,625$1,625
IX-23 InsuranceManagement $1,363$1,363
IX-24 Other expenses (24a–d)Programs $96,262$96,262
IX-24e All other expensesPrograms $27,717 · Management $100$27,817
IX-25 Total functional expensesPrograms $124,161 · Management $13,958 · Fundraising $0$138,119
Part X · Balance sheet $134,828 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $107,269$134,762
X-15 Other assets$66
X-16 Total assetsStart of year $107,269$134,828
X-17 Accounts payable and accrued expensesStart of year $706$4,574
X-26 Total liabilitiesStart of year $706$4,574
X-32 Total net assets or fund balancesStart of year $106,563$130,254
X-33 Total liabilities and net assetsStart of year $107,269$134,828
Part XI · Reconciliation of net assets $130,254 net assets at year end
XI-1 Total revenue$161,449
XI-2 Total expenses$138,119
XI-3 Revenue less expenses$23,330
XI-4 Net assets at start of year$106,563
XI-8 Prior period adjustments$361
XI-10 Net assets at end of year$130,254

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

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