L & E Academy Foundation EIN 46-2410522 Form 990 (PDF) Claim this org

L & E Academy Foundation

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Empowering diverse learners through engaging, personalized education where everyone is seen and valued. For fiscal year 2024 it reported $193K in revenue, $138K in expenses.Pt I

Type
Unknown exempt organization · Nonprofit
Location
Kirkland, WA
Website
lead-prep.org
Filings
5 on file (2020–2024)
Revenue
$193KFY2024
Expenses
$138K
Net assets
$0
People
7
Filings
5
Updates
0
More identity details & actions ⌄
EIN  46-2410522 Unknown exempt organization Kirkland, WA
Form 990 (PDF)
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Size
$100K–1M
What they do
Empowering diverse learners through engaging, personalized education where everyone is seen and valued.
Leadership
Elizabeth McFarland · Executive Director/Head of School · $64K
Money in and out
$193K revenue, $138K expenses
Bottom line
+29% surplus margin
Reported financial activity · FY2024
Total revenue
$193K
Pt VIII · Ln 12
Total expenses
$138K
Pt IX · Ln 25
Net assets
$0
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $55K
Where spending went · Part IX cols B–D
Program services $-0.01 Management & general $1.01
Surplus margin
+29%
revenue over expenses, this year▲ +164% vs prior filing year
Program spending
-1%
of expenses reach programs▼ -102% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$193K
FY2024▼ -79%
Expenses
$138K
FY2024▼ -90%
Total assets
$0
FY2024▼ -100%
Total liabilities
$0
FY2024▼ -100%
Total revenue
$193K
Pt VIII · Ln 12
Total expenses
$138K
Pt IX · Ln 25
Net assets
$0
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$55K
Total assetsPt X · Ln 16$0
Program-expense ratioPt IX · col B-1%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 45
Mission & Programs · Part III

Where the work happens

1 program service account for $-2K of program spending, described in the organization's own filed words · FY2023.
01

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Education

$-2Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CL & E Academy Foundation
EINHdr · item D46-2410522
Principal addressHdr · item CKirkland, WA
WebsiteHdr · item Jlead-prep.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MWA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFpending

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

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.

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Statement of Revenue

Part VIII
Program service revenue$158K · 82%
Contributions & grants$63K · 33%
Program service revenue82%$158K
Contributions & grants33%$63K
Total revenueLn 12$193K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $-0.01 Management & general $1.01
Management & general101%$140K
Total functional expensesLn 25$138K

Balance Sheet

Part X · end of year
CashLn 1
Total assetsLn 16$0
Total liabilitiesLn 26$0
Total net assetsLn 32$0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves — · Operating expenses/yr $138K
Highly liquid reserves (cash & marketable securities on Pt X) ÷ monthly operating expenses (Pt IX total, less non-cash grants & depreciation when reported).
Where the money goes
Program services
Program services $-2K · Total expenses $138K
-1%
Management & General
Management & general $140K · Total expenses $138K
101%
Fundraising
Fundraising $0 · Total expenses $138K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $90K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $63K · Total revenue $193K
33%
Government reliance
Government grants $0 · Total revenue $193K
0%
Earned-income share
Program service revenue $158K · Total revenue $193K
82%
Investment reliance
Investment income $-22K · Total revenue $193K
-12%
Program self-sufficiency
Program service revenue $158K · Total expenses $138K
115%
Growth & trend
Revenue growth (YoY)
This year $193K · Prior year $912K
-79%
Revenue CAGR
FY2019 $995K · FY2023 $193K
-34%
Net-asset trend (YoY)
End of year $0 · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $193K · Expenses $138K
+29%
Liabilities-to-Assets
Total liabilities — · Total assets $0
Net-asset ratio
Net assets $0 · Total assets $0
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $0
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Elizabeth McFarland · Reported title EXECUTIVE DIRECTOR/HEAD OF SCHOOL · Highest reported compensation $64K · Total expenses $138K
46%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $348K · Total expenses $138K
not reported
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio -1%
Overhead ratio 101%
Fundraising cost ratio 0%
Revenue growth -79%
Legal fee ratio 0%
Accounting fee ratio 7%
Fundraising fee 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.

Grants

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

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$193K revenue · viewing · ⤓ 990 PDF
FY2023$912K revenue · ⤓ 990 PDF
FY2022$1.4M revenue · ⤓ 990 PDF
FY2021$1.2M revenue · ⤓ 990 PDF
FY2020$995K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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