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Lead Education Foundation

Tax-deductible

Montgomery, AL501(c)(3)Education EIN 82-3528049Revenue $5.4M in FY2021

On file with the IRSleadacademyal.org2897 Eastern Blvd, 36116-1021 · Montgomery, ALTax-exempt since Apr 2026School — 170(b)(1)(A)(ii)

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To improve educational outcomes in the river region for k-12 students by starting and growing high quality charter schools.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 25 volunteers and 76 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average deficit $223K a year · 5% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $548K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.9M
144% of total assets
Concern: liabilities are 144% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.4M
+61% vs prior year
Spent
$5.9M
To programs
100%
Net assets
−$584K
By yearFY2020–FY2021
Revenue
$5.4M
FY2021▲ +61%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.4M
FY2021$5.4M
Expenses
$5.9M
FY2021▲ +81%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.3M
FY2021$5.9M
Net assets
−$584K
FY2021▼ -5253%
Tap a bar for its year
Net assets by fiscal year
FY2020$11K
FY2021−$584K

From the FY2021 Form 990 (year ending September 2021) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Exemption reinstated (2025-02-15). Per the IRS revocation list. Latest filing on record: FY2021. IRS ruling in Apr 2026.

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% · $5.9M Management & general 0% · $5K Fundraising 0% · $2K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Ryan Cantrell
Board Member
$0Pt VII · Sec A
Ben Farrow
Board Member
$0Pt VII · Sec A
William Green
Board Member
$0Pt VII · Sec A
Sonya McCall
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Lori White
Secretary
$0Pt VII · Sec A
Walter Wood
Board Member
$0Pt VII · Sec A
See Lead Education Foundation executive salaries →

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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 15aYes

Programs and updates

Starts and grows quality charter schools to improve K-12 education in the River Region.

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Provided by the organization

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1 program · $5.9M · in their own filed words · FY2020
01

Lead Academy

A charter school in montgomery, alabama providing innovative programs designed to spark curiosity, maximize learning potential, and continuously improve student achievement by empowering students with 21ST century skills.

$5.9Mprogram 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 · FY2024
New Schools for AlabamaFY2024$548K
Total grants receivedfrom 1 funder$548K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$5.4M
Ln 12
Gifts and grantsLn 1h$5.1M
Other incomeLn 4–11$322K
Fees for servicesLn 2g$3K
Money outPt IX
$5.9M
Ln 25
Programscol B$5.9M
Managementcol C$5K
Fundraisingcol D$2K
Owns and owesPt X
−$584K
net assets · Ln 32
Cash and savingsLn 1–2$677K
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.9M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.1M
Government grantsLn 1e$5.0M
Fees for servicesLn 2g$3K
Other incomeLn 4–11$322K
Total revenueLn 12$5.4M
Assets in detailPt X, end of year
CashLn 1$677K
Cash and savings togetherLn 1–2$677K
Land, buildings, equipmentLn 10c$114K
Other assetsLn 15$520
Total assetsLn 16$1.3M
LiabilitiesLn 26$1.9M
Net assetsLn 32−$584K
OperationsPt I, VI
EmployeesI 576
VolunteersI 625
Fiscal year endsHeaderSeptember
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 FY21End FY21
Cash and savingsLn 1–2$375K$677K
Land, buildings, equipmentLn 10c$147K$114K
Total assetsLn 16$643K$1.3M
LiabilitiesLn 26$631K$1.9M
Net assetsLn 32$11K−$584K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$2.2M$2.2M
Other employee benefitsLn 9$216K$216K
Payroll taxesLn 10$161K$161K
Legal feesLn 11b$666$666
Accounting feesLn 11c$15K$15K
Other fees for servicesLn 11g$357K$357K
Advertising and promotionLn 12$4K$3K$1K
Office expensesLn 13$140K$137K$3K
Information technologyLn 14$52K$52K
OccupancyLn 16$592K$592K
TravelLn 17$11K$11K
Conferences, conventions and meetingsLn 19$750$750
Depreciation, depletion and amortizationLn 22$33K$33K
InsuranceLn 23$39K$39K
Other expenses (24a–d)Ln 24$2.1M$2.1M$2K
Total functional expensesLn 25$5.9M$5.9M$5K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $5.4M$5.9M−$537K−$584K 990 PDF
FY2020 $3.4M$3.3M$91K$11K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $5,385,239 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,222,029$5,060,251
I-9 Program service revenuePrior year $131,655$2,825
I-10 Investment income$0
I-11 Other revenuePrior year $1,012$322,163
I-12 Total revenuePrior year $3,354,696$5,385,239
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,844,393$2,584,462
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,419,793$3,338,192
I-18 Total expensesPrior year $3,264,186$5,922,654
I-19 Revenue less expensesPrior year $90,510−$537,415
Part VI · Governance 4 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $5,385,239 across 6 lines filed
VIII-1e Government grants$5,032,071
VIII-1f All other contributions, gifts and grants$28,180
VIII-1h Total contributions, gifts and grants$5,060,251
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,825$2,825
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $322,163$322,163
VIII-12 Total revenueRelated to mission $2,825 · Excluded from tax $322,163$5,385,239
Part IX · Statement of functional expenses $5,922,654 across 15 lines filed
IX-7 Other salaries and wagesPrograms $2,207,546$2,207,546
IX-9 Other employee benefitsPrograms $215,685$215,685
IX-10 Payroll taxesPrograms $161,231$161,231
IX-11b Legal feesManagement $666$666
IX-11c Accounting feesPrograms $14,826$14,826
IX-11g Other fees for servicesPrograms $356,520$356,520
IX-12 Advertising and promotionPrograms $2,928 · Management $1,165$4,093
IX-13 Office expensesPrograms $137,008 · Management $2,757$139,765
IX-14 Information technologyPrograms $52,089$52,089
IX-16 OccupancyPrograms $592,391$592,391
IX-17 TravelPrograms $11,071$11,071
IX-19 Conferences, conventions and meetingsPrograms $750$750
IX-22 Depreciation, depletion and amortizationPrograms $32,966$32,966
IX-23 InsurancePrograms $39,488$39,488
IX-24 Other expenses (24a–d)Programs $2,091,121 · Fundraising $2,446$2,093,567
IX-25 Total functional expensesPrograms $5,915,620 · Management $4,588 · Fundraising $2,446$5,922,654
Part X · Balance sheet $1,341,745 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $375,437$676,577
X-3 Pledges and grants receivable$549,846
X-8 Inventories for sale or useStart of year $319$319
X-10c Land, buildings and equipment, netStart of year $147,449$114,483
X-15 Other assetsStart of year $1,711$520
X-16 Total assetsStart of year $642,695$1,341,745
X-17 Accounts payable and accrued expensesStart of year $45,186$224,266
X-24 Unsecured notes and loans payableStart of year $321,100$1,510,457
X-25 Other liabilitiesStart of year $182,287$190,788
X-26 Total liabilitiesStart of year $631,366$1,925,511
X-32 Total net assets or fund balancesStart of year $11,329−$583,766
X-33 Total liabilities and net assetsStart of year $642,695$1,341,745
Part XI · Reconciliation of net assets −$583,766 net assets at year end
XI-1 Total revenue$5,385,239
XI-2 Total expenses$5,922,654
XI-3 Revenue less expenses−$537,415
XI-4 Net assets at start of year$11,329
XI-8 Prior period adjustments−$57,680
XI-10 Net assets at end of year−$583,766

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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