Ilead Spring Meadows FY2020 filing

Holland, OHUnknown exempt organizationEIN 81-1826586

At iLEAD we've built a model based on what we believe to be the best of all that is out there. We believe passionately in project-based learning not because it's a fad but because it goes to the heart of how kids learn. We've incorporated technology not as a spiffy add-on but as an organic part of the learning process in the 21st century. We value and encourage leadership not just as a part of a career track but by instilling in each learner the confidence and character that inspire others.

100¢ of each $1 spent went to programs.
$6K 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
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $508K a year · 22% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$6K
to officers and key staff · 0.2% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $54
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4.3M
250% of total assets
Concern: liabilities are 250% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.4M
Spent
$3.2M
To programs
100%
Net assets
−$2.6M
By yearFY2020–FY2024
Revenue
$2.4M
FY2020
Revenue by fiscal year
FY2020$2.4M
FY2021$3.0M
FY2022$2.8M
FY2023$3.6M
FY2024$0
Expenses
$3.2M
FY2020
Expenses by fiscal year
FY2020$3.2M
FY2021$3.5M
FY2022$3.8M
FY2023$3.9M
FY2024$0
Net assets
−$2.6M
FY2020
Net assets by fiscal year
FY2020−$2.6M
FY2021−$3.1M
FY2022−$4.0M
FY2023$50K
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

100 cents of each dollar spent went to programs.

Program services 100% · $3.2M

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

Who runs it and what they're paid

5 people listed on the 990; $6K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Vice Chairman
$1,250Pt VII · Sec A
Board Member
$1,250Pt VII · Sec A
Board Member
$1,125Pt VII · Sec A
Board Member
$1,000Pt VII · Sec A
Board Member
$875Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2023FY2022FY2021FY2020
Latanya Wilson—$1,125$1,375$1,250
Jeff Wilcox———$1,250
Raina Dawson$1,125$1,125$125—
Brian Jones$1,125$125——
Jeff Williams——$1,000$1,125
David Shock$875$750$1,000$1,000
Tricia Maassel—$500$1,000—
Jaquelyn May——$1,000$875

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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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 15aNo

Programs and updates

Empowers students through project-based learning, technology, and leadership development.

Provided by the organization

This section is blank until Ilead Spring Meadows claims this page.

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1 program service account for $3.2M of program spending, described in the organization's own filed words · FY2019.
01

Passive, lecture-based schools were created when the classroom consisted of four walls, rows of desks piled with textbooks, blackboards, chalk and a teacher who stood in front of the class pouring out facts and figures for restless, bored students to memorize, be tested on and quickly forget.

$3.2Mprogram expense

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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 · FY2022
Total grants receivedfrom 1 funder$54

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$2.4M
Ln 12
Gifts and grantsLn 1h$2.4M
Money outPt IX
$3.2M
Ln 25
Programscol B$3.2M
Owns and owesPt X
−$2.6M
net assets · Ln 32
Cash and savingsLn 1–2$350K
Total assetsLn 16$1.7M
LiabilitiesLn 26$4.3M
PeoplePt VI, VII
5
listed · VII A
PaidVII A5
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.4M
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
CashLn 1$350K
Cash and savings togetherLn 1–2$350K
Land, buildings, equipmentLn 10c$37K
Other assetsLn 15$1.3M
Total assetsLn 16$1.7M
LiabilitiesLn 26$4.3M
Net assetsLn 32−$2.6M
OperationsPt I, VI
EmployeesI 545
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$2K$350K
Land, buildings, equipmentLn 10c$35K$37K
Total assetsLn 16$1.4M$1.7M
LiabilitiesLn 26$3.1M$4.3M
Net assetsLn 32−$1.7M−$2.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.0M$1.0M
Other employee benefitsLn 9$772K$772K
Management feesLn 11a$275K$275K
Legal feesLn 11b$30K$30K
Accounting feesLn 11c$44K$44K
Other fees for servicesLn 11g$129K$129K
Advertising and promotionLn 12$12K$12K
OccupancyLn 16$660K$660K
InterestLn 20$43K$43K
Depreciation, depletion and amortizationLn 22$19K$19K
InsuranceLn 23$17K$17K
Other expenses (24a–d)Ln 24$165K$165K$0$0
All other expensesLn 24e$34K$34K
Total functional expensesLn 25$3.2M$3.2M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $0$0$0$0 990 PDF
FY2023 $3.6M$3.9M−$263K$50K 990 PDF
FY2022 $2.8M$3.8M−$970K−$4.0M 990 PDF
FY2021 $3.0M$3.5M−$468K−$3.1M 990 PDF
FY2020 Viewing $2.4M$3.2M−$840K−$2.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $2,377,914 across 9 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$2,377,914
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$2,377,914
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$2,377,914
Part IX · Statement of functional expenses $3,217,694 across 13 lines filed
IX-7 Other salaries and wagesPrograms $1,019,782$1,019,782
IX-9 Other employee benefitsPrograms $772,002$772,002
IX-11a Management feesPrograms $275,389$275,389
IX-11b Legal feesPrograms $30,000$30,000
IX-11c Accounting feesPrograms $43,823$43,823
IX-11g Other fees for servicesPrograms $129,068$129,068
IX-12 Advertising and promotionPrograms $11,665$11,665
IX-16 OccupancyPrograms $659,836$659,836
IX-20 InterestPrograms $42,712$42,712
IX-22 Depreciation, depletion and amortizationPrograms $18,618$18,618
IX-23 InsurancePrograms $16,613$16,613
IX-24 Other expenses (24a–d)Programs $164,674 · Management $0 · Fundraising $0$164,674
IX-24e All other expensesPrograms $33,512$33,512
IX-25 Total functional expensesPrograms $3,217,694 · Management $0 · Fundraising $0$3,217,694
Part X · Balance sheet $1,725,210 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $1,828$350,080
X-3 Pledges and grants receivableStart of year $13,488$10,542
X-4 Accounts receivableStart of year $30,588$34,287
X-10c Land, buildings and equipment, netStart of year $34,785$36,853
X-15 Other assetsStart of year $1,296,520$1,293,448
X-16 Total assetsStart of year $1,377,209$1,725,210
X-17 Accounts payable and accrued expensesStart of year $769,309$735,458
X-24 Unsecured notes and loans payableStart of year $649,701$751,111
X-25 Other liabilitiesStart of year $1,465,570$2,479,535
X-26 Total liabilitiesStart of year $3,123,430$4,311,211
X-27 Net assets without donor restrictionsStart of year −$1,746,221−$2,586,001
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year −$1,746,221−$2,586,001
X-33 Total liabilities and net assetsStart of year $1,377,209$1,725,210
Part XI · Reconciliation of net assets −$2,586,001 net assets at year end
XI-1 Total revenue$2,377,914
XI-2 Total expenses$3,217,694
XI-3 Revenue less expenses−$839,780
XI-4 Net assets at start of year−$1,746,221
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−$2,586,001

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

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