L & E Academy Foundation FY2022 filing

Kirkland, WAUnknown exempt organization EIN 46-2410522Revenue $1.4M in FY2022Latest 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, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 46-2410522) · Dispute this line
64¢ of each $1 spent went to programs.
$215K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
64%
of spending
64% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$215K
to officers and key staff · 18% of spending
Pay to officers and key staff is 18% of spending.
Part VII, Section A
7.6 mo
of spending, in cash
7.6 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
$505K
59% of total assets
Liabilities are 59% of assets.
Pt X · Ln 26
Independent board members
8
of 10 voting members
8 of 10 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$1.4M
+11% vs prior year
Spent
$1.2M
To programs
64%
Net assets
$351K
By yearFY2020–FY2024
Revenue
$1.4M
FY2022▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2020$995K
FY2021$1.2M
FY2022$1.4M
FY2023$912K
FY2024$193K
Expenses
$1.2M
FY2022▲ +18%
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
$351K
FY2022▲ +98%
Tap a bar for its year
Net assets by fiscal year
FY2020−$47K
FY2021$177K
FY2022$351K
FY2023−$55K
FY2024$0

From the FY2022 Form 990 (year ending June 2022) · see the original

You’re viewing the FY2022 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

64 cents of each dollar spent went to programs.

Program services 64% · $762K Management & general 36% · $426K

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; $215K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
Executive Director
$215,328Pt VII · Sec A
Board President
$0Pt VII · Sec A
Board Secretary
$0Pt VII · Sec A
Internships 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
Board President
$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.

Questions for L & E Academy Foundation

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1 program · $762K · in their own filed words · FY2021
01

High school and middle school education services

Form 990 Part III, line 4, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 46-2410522) · Dispute this line
$762Kprogram 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 FY2022 990, line by line.

1The main four
Money inPt VIII
$1.4M
Ln 12
Fees for servicesLn 2g$1.2M
Gifts and grantsLn 1h$135K
Investment incomeLn 3$3K
Money outPt IX
$1.2M
Ln 25
Programscol B$762K
Managementcol C$426K
Owns and owesPt X
$351K
net assets · Ln 32
Cash and savingsLn 1–2$753K
Total assetsLn 16$856K
LiabilitiesLn 26$505K
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$135K
Noncash giftsLn 1g$13K
Fundraising eventsLn 1c$10K
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$3K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$93K
SavingsLn 2$660K
Cash and savings togetherLn 1–2$753K
Accounts receivableLn 4$60K
Prepaid expenses and deferred chargesLn 9$11K
Land, buildings, equipmentLn 10c$19K
InvestmentsLn 11–13$4K
Other assetsLn 15$10K
Total assetsLn 16$856K
LiabilitiesLn 26$505K
Net assetsLn 32$351K
OperationsPt I, VI
EmployeesI 518
VolunteersI 60
Fiscal year endsHeaderJune
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 FY22End FY22
Cash and savingsLn 1–2$847K$753K
InvestmentsLn 11–13$4K$4K
Land, buildings, equipmentLn 10c$27K$19K
Total assetsLn 16$961K$856K
LiabilitiesLn 26$784K$505K
Net assetsLn 32$177K$351K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of officers and key staff (Part IX, line 5)Ln 5$215K$215K
Other salaries and wagesLn 7$467K$467K
Other employee benefitsLn 9$65K$58K$6K
Payroll taxesLn 10$72K$49K$23K
Management feesLn 11a$104K$104K
Accounting feesLn 11c$22K$22K
Other fees for servicesLn 11g$2K$100$2K
Advertising and promotionLn 12$40K$40K
Office expensesLn 13$10K$10K
Information technologyLn 14$21K$21K
OccupancyLn 16$129K$116K$13K
TravelLn 17$3K$3K$394
InterestLn 20$4K$4K
Depreciation, depletion and amortizationLn 22$8K$8K
InsuranceLn 23$11K$11K
Other expenses (24a–d)Ln 24$53K$28K$25K
All other expensesLn 24e−$38K−$38K
Total functional expensesLn 25$1.2M$762K$426K$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
FY2022 ViewingFiled 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 J · Pay O · Explanations
See the full FY2022 990
Part I · Summary $1,361,339 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $143,113$135,215
I-9 Program service revenuePrior year $973,453$1,226,848
I-10 Investment incomePrior year $568$2,509
I-11 Other revenuePrior year $112,351−$3,233
I-12 Total revenuePrior year $1,229,485$1,361,339
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 $668,932$818,703
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $336,600$368,742
I-18 Total expensesPrior year $1,005,532$1,187,445
I-19 Revenue less expensesPrior year $223,953$173,894
Part VI · Governance 8 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
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 payYes
Part VIII · Statement of revenue $1,361,339 across 10 lines filed
VIII-1c Fundraising events$9,514
VIII-1f All other contributions, gifts and grants$125,701
VIII-1g Noncash contributions (included above)$13,252
VIII-1h Total contributions, gifts and grants$135,215
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,226,848$1,226,848
VIII-3 Investment incomeExcluded from tax $2,509$2,509
VIII-6 Net rental income or lossRelated to mission $2,000$2,000
VIII-8 Net income from fundraising eventsExcluded from tax −$5,450−$5,450
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $217$217
VIII-12 Total revenueRelated to mission $1,229,065 · Unrelated business $0 · Excluded from tax −$2,941$1,361,339
Part IX · Statement of functional expenses $1,187,445 across 17 lines filed
IX-5 Pay of officers and key staff (Part IX, line 5)Management $215,328$215,328
IX-7 Other salaries and wagesPrograms $467,167$467,167
IX-9 Other employee benefitsPrograms $58,289 · Management $6,379$64,668
IX-10 Payroll taxesPrograms $48,969 · Management $22,571$71,540
IX-11a Management feesManagement $103,892$103,892
IX-11c Accounting feesManagement $21,818$21,818
IX-11g Other fees for servicesPrograms $100 · Management $2,252$2,352
IX-12 Advertising and promotionManagement $39,574$39,574
IX-13 Office expensesManagement $9,884$9,884
IX-14 Information technologyPrograms $21,264$21,264
IX-16 OccupancyPrograms $116,227 · Management $12,914$129,141
IX-17 TravelPrograms $2,928 · Management $394$3,322
IX-20 InterestManagement $4,083$4,083
IX-22 Depreciation, depletion and amortizationPrograms $8,499$8,499
IX-23 InsurancePrograms $10,524$10,524
IX-24 Other expenses (24a–d)Programs $27,917 · Management $24,663$52,580
IX-24e All other expensesManagement −$38,191−$38,191
IX-25 Total functional expensesPrograms $761,884 · Management $425,561 · Fundraising $0$1,187,445
Part X · Balance sheet $856,217 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $188,888$92,957
X-2 Savings and temporary cash investmentsStart of year $658,460$659,934
X-4 Accounts receivableStart of year $66,637$59,832
X-9 Prepaid expenses and deferred chargesStart of year $11,693$10,955
X-10c Land, buildings and equipment, netStart of year $27,131$18,632
X-11 Publicly traded securitiesStart of year $3,507$3,507
X-15 Other assetsStart of year $5,000$10,400
X-16 Total assetsStart of year $961,316$856,217
X-17 Accounts payable and accrued expensesStart of year $30,400$313,549
X-19 Deferred revenueStart of year $491,075$0
X-22 Loans from officers and insidersStart of year $109,028$35,318
X-24 Unsecured notes and loans payableStart of year $153,667$156,310
X-26 Total liabilitiesStart of year $784,170$505,177
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 $177,146$351,040
X-32 Total net assets or fund balancesStart of year $177,146$351,040
X-33 Total liabilities and net assetsStart of year $961,316$856,217
Part XI · Reconciliation of net assets $351,040 net assets at year end
XI-1 Total revenue$1,361,339
XI-2 Total expenses$1,187,445
XI-3 Revenue less expenses$173,894
XI-4 Net assets at start of year$177,146
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$351,040

Form 990 e-file FY2022 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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