L & E Academy Foundation FY2020 filing

Kirkland, WAUnknown exempt organization EIN 46-2410522Revenue $995K in FY2020Latest 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, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 46-2410522) · Dispute this line
74¢ of each $1 spent went to programs.
$139K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · 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
74%
of spending
74% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$139K
to officers and key staff · 15% of spending
Pay to officers and key staff is 15% of spending.
Part VII, Section A
6.8 mo
of spending, in cash
6.8 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $29K
2 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$677K
107% of total assets
Liabilities are 107% of assets.
Pt X · Ln 26
Independent board members
6
of 7 voting members
6 of 7 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$995K
Spent
$933K
To programs
74%
Net assets
−$47K
By yearFY2020–FY2024
Revenue
$995K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$995K
FY2021$1.2M
FY2022$1.4M
FY2023$912K
FY2024$193K
Expenses
$933K
FY2020
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
−$47K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$47K
FY2021$177K
FY2022$351K
FY2023−$55K
FY2024$0

From the FY2020 Form 990 (year ending June 2020) · see the original

You’re viewing the FY2020 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $691K Management & general 26% · $242K

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

10 people listed on the 990; $139K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
Executive Director
$139,417Pt VII · Sec A
Board President
$0Pt VII · Sec A
Board Secretary
$0Pt VII · Sec A
Internships Chair
$0Pt VII · Sec A
Parent Groups Chair
$0Pt VII · Sec A
Marketing Chair
$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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

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

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1 program · $691K · in their own filed words · FY2019
01

High school and middle school education services

Form 990 Part III, line 4, FY2019. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 46-2410522) · Dispute this line
$691Kprogram 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 FY2020 990, line by line.

1The main four
Money inPt VIII
$995K
Ln 12
Fees for servicesLn 2g$831K
Gifts and grantsLn 1h$154K
Other incomeLn 4–11$10K
Money outPt IX
$933K
Ln 25
Programscol B$691K
Managementcol C$242K
Owns and owesPt X
−$47K
net assets · Ln 32
Cash and savingsLn 1–2$529K
Total assetsLn 16$631K
LiabilitiesLn 26$677K
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$154K
Noncash giftsLn 1g$20K
Fundraising eventsLn 1c$8K
Fees for servicesLn 2g$831K
Investment incomeLn 3$466
Other incomeLn 4–11$10K
Total revenueLn 12$995K
Assets in detailPt X, end of year
CashLn 1$281K
SavingsLn 2$248K
Cash and savings togetherLn 1–2$529K
Accounts receivableLn 4$59K
Prepaid expenses and deferred chargesLn 9$5K
Land, buildings, equipmentLn 10c$29K
InvestmentsLn 11–13$4K
Other assetsLn 15$5K
Total assetsLn 16$631K
LiabilitiesLn 26$677K
Net assetsLn 32−$47K
OperationsPt I, VI
EmployeesI 518
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$20K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$267K$529K
InvestmentsLn 11–13$4K$4K
Land, buildings, equipmentLn 10c$36K$29K
Total assetsLn 16$349K$631K
LiabilitiesLn 26$458K$677K
Net assetsLn 32−$109K−$47K
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of officers and key staff (Part IX, line 5)Ln 5$144K$144K
Other salaries and wagesLn 7$348K$348K
Other employee benefitsLn 9$51K$51K
Payroll taxesLn 10$42K$42K
Management feesLn 11a$18K$18K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$96K$92K$4K
Advertising and promotionLn 12$23K$23K
Office expensesLn 13$10K$10K
Information technologyLn 14$7K$7K
OccupancyLn 16$113K$102K$11K
TravelLn 17$1K$972$173
Depreciation, depletion and amortizationLn 22$7K$7K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$57K$33K$24K
All other expensesLn 24e$982$982
Total functional expensesLn 25$933K$691K$242K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled 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
FY2020 ViewingFiled with the IRS May 17, 2021 $995K$933K$62K−$47K 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2020 990
Part I · Summary $995,201 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $84,119$153,686
I-9 Program service revenuePrior year $409,629$831,061
I-10 Investment incomePrior year $99$466
I-11 Other revenuePrior year $600$9,988
I-12 Total revenuePrior year $494,447$995,201
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 $339,757$585,028
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $163,625$348,287
I-18 Total expensesPrior year $503,382$933,315
I-19 Revenue less expensesPrior year −$8,935$61,886
Part VI · Governance 6 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
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 payYes
Part VIII · Statement of revenue $995,201 across 10 lines filed
VIII-1c Fundraising events$7,959
VIII-1f All other contributions, gifts and grants$145,727
VIII-1g Noncash contributions (included above)$19,975
VIII-1h Total contributions, gifts and grants$153,686
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $831,061$831,061
VIII-3 Investment incomeExcluded from tax $466$466
VIII-6 Net rental income or lossRelated to mission $3,300$3,300
VIII-8 Net income from fundraising eventsExcluded from tax −$3,312−$3,312
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,000$10,000
VIII-12 Total revenueRelated to mission $844,361 · Unrelated business $0 · Excluded from tax −$2,846$995,201
Part IX · Statement of functional expenses $933,315 across 16 lines filed
IX-5 Pay of officers and key staff (Part IX, line 5)Management $143,600$143,600
IX-7 Other salaries and wagesPrograms $348,057$348,057
IX-9 Other employee benefitsPrograms $51,240$51,240
IX-10 Payroll taxesPrograms $42,131$42,131
IX-11a Management feesManagement $17,721$17,721
IX-11c Accounting feesManagement $7,653$7,653
IX-11g Other fees for servicesPrograms $91,664 · Management $4,263$95,927
IX-12 Advertising and promotionManagement $23,159$23,159
IX-13 Office expensesManagement $9,757$9,757
IX-14 Information technologyPrograms $6,829$6,829
IX-16 OccupancyPrograms $101,821 · Management $11,314$113,135
IX-17 TravelPrograms $972 · Management $173$1,145
IX-22 Depreciation, depletion and amortizationPrograms $7,143$7,143
IX-23 InsurancePrograms $8,035$8,035
IX-24 Other expenses (24a–d)Programs $33,094 · Management $23,707$56,801
IX-24e All other expensesManagement $982$982
IX-25 Total functional expensesPrograms $690,986 · Management $242,329 · Fundraising $0$933,315
Part X · Balance sheet $630,501 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $42,683$280,727
X-2 Savings and temporary cash investmentsStart of year $224,301$248,473
X-4 Accounts receivableStart of year $32,340$58,658
X-9 Prepaid expenses and deferred chargesStart of year $5,684$5,400
X-10c Land, buildings and equipment, netStart of year $35,878$28,736
X-11 Publicly traded securitiesStart of year $3,507$3,507
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 $5,000$5,000
X-16 Total assetsStart of year $349,393$630,501
X-17 Accounts payable and accrued expensesStart of year $96,635$30,345
X-19 Deferred revenueStart of year $218,423$250,681
X-22 Loans from officers and insidersStart of year $143,028$133,028
X-24 Unsecured notes and loans payable$263,254
X-26 Total liabilitiesStart of year $458,086$677,308
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 −$108,693−$46,807
X-32 Total net assets or fund balancesStart of year −$108,693−$46,807
X-33 Total liabilities and net assetsStart of year $349,393$630,501
Part XI · Reconciliation of net assets −$46,807 net assets at year end
XI-1 Total revenue$995,201
XI-2 Total expenses$933,315
XI-3 Revenue less expenses$61,886
XI-4 Net assets at start of year−$108,693
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$46,807

Form 990 e-file FY2020 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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