L & E Academy Foundation

Kirkland, WAUnknown exempt organization EIN 46-2410522Revenue $193K in FY2024Latest return filed Jun 11, 2024

On file with the IRSlead-prep.orgKirkland, WA

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At leadprep we create a dynamic space where education is engaging, not one-size-fits-all, for all learners to be seen, heard, valued, and thriving.

Form 990 Part I, line 1, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 46-2410522) · Dispute this line
$76K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
The latest return is for FY2024, 2 tax years back.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $22K a year · 2% of revenue · last 5 filings
A surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
-1%
of spending
-1% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$76K
to officers and key staff · 55% of spending
Pay to officers and key staff is 55% of spending.
Part VII, Section A
Named funders
2
named funders · $29K
2 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
5
of 6 voting members
5 of 6 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$193K
-79% vs prior year
Spent
$138K
To programs
-1%
Net assets
$0
By yearFY2020–FY2024
Revenue
$193K
FY2024▼ -79%
Tap a bar for its year
Revenue by fiscal year
FY2020$995K
FY2021$1.2M
FY2022$1.4M
FY2023$912K
FY2024$193K
Expenses
$138K
FY2024▼ -90%
Tap a bar for its year
Expenses by fiscal year
FY2020$933K
FY2021$1.0M
FY2022$1.2M
FY2023$1.3M
FY2024$138K
Net assets
$0
FY2024▲ +100%
Tap a bar for its year
Net assets by fiscal year
FY2020−$47K
FY2021$177K
FY2022$351K
FY2023−$55K
FY2024$0

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

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

What each dollar paid for.

Management & general 101% · $140K

Form 990 Part IX, line 25. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

7 people listed on the 990; $76K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director/Head of School
$63,918Pt VII · Sec A
Former Executive Director
$12,268Pt VII · Sec A
Board President
$0Pt VII · Sec A
Board Secretary
$0Pt VII · Sec A
At-Large Board Member
$0Pt VII · Sec A
At-Large Board Member
$0Pt VII · Sec A
At-Large Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Maureen O'Shaughnessy$12,268$182,535$215,328$164,060$139,417
Elizabeth McFarland$63,918————

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.

See L & E Academy Foundation executive salaries →

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

Empowering diverse learners through engaging, personalized education where everyone is seen and valued.

Questions for L & E Academy Foundation

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1 program · −$2K · in their own filed words · FY2023
01

See Additional Data

Education

Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 46-2410522) · Dispute this line
−$2Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 2 funders$29K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$193K
Ln 12
Fees for servicesLn 2g$158K
Gifts and grantsLn 1h$63K
Investment incomeLn 3−$22K
Money outPt IX
$138K
Ln 25
Managementcol C$140K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A2
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$63K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$158K
Investment incomeLn 3−$22K
Gains on assetsLn 7$0
Total revenueLn 12$193K
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 518
VolunteersI 60
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
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$135K$0
InvestmentsLn 11–13$0$0
Total assetsLn 16$433K$0
LiabilitiesLn 26$488K$0
Net assetsLn 32−$55K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of officers and key staff (Part IX, line 5)Ln 5$76K$0$76K$0
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$207K$207K$0$0
Pension plan contributionsLn 8$0$0$0$0
Other employee benefitsLn 9$39K$38K$420$0
Payroll taxesLn 10$26K$19K$7K$0
Management feesLn 11a$18K$0$18K$0
Legal feesLn 11b$0$0$0$0
Accounting feesLn 11c$10K$0$10K$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$0$0$0$0
Other fees for servicesLn 11g$2K$0$2K$0
Advertising and promotionLn 12$2K$0$2K$0
Office expensesLn 13$5K$0$5K$0
Information technologyLn 14$2K$2K$0$0
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$45K$45K$300$0
TravelLn 17$3K$3K$0$0
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$0$0$0$0
InterestLn 20$1K$0$1K$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22−$34K−$34K$0$0
InsuranceLn 23−$814−$814$0$0
Other expenses (24a–d)Ln 24$26K$8K$18K$0
All other expensesLn 24e−$288K−$288K$477$0
Total functional expensesLn 25$138K−$2K$140K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Jun 11, 2024 $193K$138K$55K$0 990 PDF
FY2023Filed with the IRS Feb 19, 2024 $912K$1.3M−$406K−$55K 990 PDF
FY2022Filed with the IRS Jan 25, 2023 $1.4M$1.2M$174K$351K 990 PDF
FY2021Filed with the IRS Mar 8, 2022 $1.2M$1.0M$224K$177K 990 PDF
FY2020Filed with the IRS May 17, 2021 $995K$933K$62K−$47K 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2024 990
Part I · Summary $193,424 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $72,879$62,902
I-9 Program service revenuePrior year $824,032$158,329
I-10 Investment incomePrior year $17,819−$22,257
I-11 Other revenuePrior year −$2,575−$5,550
I-12 Total revenuePrior year $912,155$193,424
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $868,644$348,381
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $449,709−$210,115
I-18 Total expensesPrior year $1,318,353$138,266
I-19 Revenue less expensesPrior year −$406,198$55,158
Part VI · Governance 5 of 6 board members independent, 2 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $193,424 across 15 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$62,902
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$62,902
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $158,329 · Unrelated business $0 · Excluded from tax $0$158,329
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax −$22,257−$22,257
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission −$5,550 · Unrelated business $0 · Excluded from tax $0−$5,550
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $152,779 · Unrelated business $0 · Excluded from tax −$22,257$193,424
Part IX · Statement of functional expenses $138,266 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $0 · Management $76,186 · Fundraising $0$76,186
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $207,230 · Management $0 · Fundraising $0$207,230
IX-8 Pension plan contributionsPrograms $0 · Management $0 · Fundraising $0$0
IX-9 Other employee benefitsPrograms $38,184 · Management $420 · Fundraising $0$38,604
IX-10 Payroll taxesPrograms $19,275 · Management $7,086 · Fundraising $0$26,361
IX-11a Management feesPrograms $0 · Management $18,500 · Fundraising $0$18,500
IX-11b Legal feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11c Accounting feesPrograms $0 · Management $10,008 · Fundraising $0$10,008
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11g Other fees for servicesPrograms $0 · Management $1,505 · Fundraising $0$1,505
IX-12 Advertising and promotionPrograms $0 · Management $1,546 · Fundraising $0$1,546
IX-13 Office expensesPrograms $0 · Management $4,744 · Fundraising $0$4,744
IX-14 Information technologyPrograms $1,809 · Management $0 · Fundraising $0$1,809
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $44,712 · Management $300 · Fundraising $0$45,012
IX-17 TravelPrograms $2,523 · Management $0 · Fundraising $0$2,523
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $0 · Fundraising $0$0
IX-20 InterestPrograms $0 · Management $1,123 · Fundraising $0$1,123
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms −$34,100 · Management $0 · Fundraising $0−$34,100
IX-23 InsurancePrograms −$814 · Management $0 · Fundraising $0−$814
IX-24 Other expenses (24a–d)Programs $7,626 · Management $18,148 · Fundraising $0$25,774
IX-24e All other expensesPrograms −$288,222 · Management $477 · Fundraising $0−$287,745
IX-25 Total functional expensesPrograms −$1,777 · Management $140,043 · Fundraising $0$138,266
Part X · Balance sheet $0 assets, 29 lines filed
X-1 Cash, non-interest-bearingStart of year $34,887$0
X-2 Savings and temporary cash investmentsStart of year $100,494$0
X-3 Pledges and grants receivableStart of year $235,787$0
X-4 Accounts receivableStart of year $25,628$0
X-5 Loans to officers and key peopleStart of year $0$0
X-6 Loans to other insidersStart of year $0$0
X-7 Notes and loans receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $706$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $14,000$0
X-16 Total assetsStart of year $432,605$0
X-17 Accounts payable and accrued expensesStart of year $363,540$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-21 Escrow or custodial accountsStart of year $0$0
X-22 Loans from officers and insidersStart of year $0$0
X-23 Secured mortgages and notes payableStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $124,223$0
X-26 Total liabilitiesStart of year $487,763$0
X-29 Capital stock or trust principalStart of year $0$0
X-30 Paid-in or capital surplusStart of year $0$0
X-31 Retained earnings or endowmentStart of year −$55,158$0
X-32 Total net assets or fund balancesStart of year −$55,158$0
X-33 Total liabilities and net assetsStart of year $432,605$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$193,424
XI-2 Total expenses$138,266
XI-3 Revenue less expenses$55,158
XI-4 Net assets at start of year−$55,158
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$0

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

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