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Lead Education Foundation FY2020 filing

Tax-deductible

Montgomery, AL501(c)(3)Education EIN 82-3528049Revenue $3.4M in FY2020

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.
95¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
95%
of spending
Looks good: 95% 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
$631K
98% of total assets
Concern: liabilities are 98% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.4M
Spent
$3.3M
To programs
95%
Net assets
$11K
By yearFY2020–FY2021
Revenue
$3.4M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$3.4M
FY2021$5.4M
Expenses
$3.3M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$3.3M
FY2021$5.9M
Net assets
$11K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$11K
FY2021−$584K

From the FY2020 Form 990 (year ending September 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

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

95 cents of each dollar spent went to programs.

Program services 95% · $3.1M Management & general 5% · $174K 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 (FY2019); the FY2020 filing did not itemize Part VII
Ryan Cantrell
Treasurer
$0Pt VII · Sec A
Ben Farrow
Board Member
$0Pt VII · Sec A
William Green
Board Member
$0Pt VII · Sec A
Sonya McCall
Parent Board
$0Pt VII · Sec A
$0Pt VII · Sec A
Lori White
Secretary
$0Pt VII · Sec A
Walter Wood
Parent Board
$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 · $3.1M · in their own filed words · FY2019
01

Lead Academy

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

$3.1Mprogram 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 FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.4M
Ln 12
Gifts and grantsLn 1h$3.2M
Fees for servicesLn 2g$132K
Other incomeLn 4–11$1K
Money outPt IX
$3.3M
Ln 25
Programscol B$3.1M
Managementcol C$174K
Fundraisingcol D$2K
Owns and owesPt X
$11K
net assets · Ln 32
Cash and savingsLn 1–2$375K
Total assetsLn 16$643K
LiabilitiesLn 26$631K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.2M
Government grantsLn 1e$3.2M
Fees for servicesLn 2g$132K
Other incomeLn 4–11$1K
Total revenueLn 12$3.4M
Assets in detailPt X, end of year
CashLn 1$375K
Cash and savings togetherLn 1–2$375K
Land, buildings, equipmentLn 10c$147K
Other assetsLn 15$2K
Total assetsLn 16$643K
LiabilitiesLn 26$631K
Net assetsLn 32$11K
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 FY20End FY20
Cash and savingsLn 1–2$175K$375K
Land, buildings, equipmentLn 10c$97K$147K
Total assetsLn 16$276K$643K
LiabilitiesLn 26$344K$631K
Net assetsLn 32−$69K$11K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.6M$1.6M
Other employee benefitsLn 9$147K$147K
Payroll taxesLn 10$109K$109K
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$46K$46K
Other fees for servicesLn 11g$43K$43K
Advertising and promotionLn 12$2K$1K$325
Office expensesLn 13$429K$356K$72K
Information technologyLn 14$175K$175K
OccupancyLn 16$451K$446K$4K
TravelLn 17$4K$4K$440
Conferences, conventions and meetingsLn 19$11K$11K
InterestLn 20$1K$1K
Depreciation, depletion and amortizationLn 22$22K$22K
InsuranceLn 23$39K$39K
Other expenses (24a–d)Ln 24$187K$185K$2K
Total functional expensesLn 25$3.3M$3.1M$174K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest $5.4M$5.9M−$537K−$584K 990 PDF
FY2020 Viewing $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 FY2020 990 (6 parts)
Part I · Summary $3,354,696 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $714,732$3,222,029
I-9 Program service revenuePrior year $4,431$131,655
I-10 Investment income$0
I-11 Other revenue$1,012
I-12 Total revenuePrior year $719,163$3,354,696
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $346,414$1,844,393
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $447,932$1,419,793
I-18 Total expensesPrior year $794,346$3,264,186
I-19 Revenue less expensesPrior year −$75,183$90,510
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $3,354,696 across 6 lines filed
VIII-1e Government grants$3,179,742
VIII-1f All other contributions, gifts and grants$42,287
VIII-1h Total contributions, gifts and grants$3,222,029
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $131,655$131,655
VIII-8 Net income from fundraising events$1,012
VIII-12 Total revenueRelated to mission $131,655$3,354,696
Part IX · Statement of functional expenses $3,264,186 across 16 lines filed
IX-7 Other salaries and wagesPrograms $1,587,626$1,587,626
IX-9 Other employee benefitsPrograms $147,475$147,475
IX-10 Payroll taxesPrograms $109,292$109,292
IX-11b Legal feesManagement $9,868$9,868
IX-11c Accounting feesManagement $46,463$46,463
IX-11g Other fees for servicesPrograms $43,494$43,494
IX-12 Advertising and promotionPrograms $1,438 · Management $325$1,763
IX-13 Office expensesPrograms $356,495 · Management $72,309$428,804
IX-14 Information technologyPrograms $175,254$175,254
IX-16 OccupancyPrograms $446,247 · Management $4,413$450,660
IX-17 TravelPrograms $3,610 · Management $440$4,050
IX-19 Conferences, conventions and meetingsPrograms $11,000$11,000
IX-20 InterestManagement $1,471$1,471
IX-22 Depreciation, depletion and amortizationPrograms $21,608$21,608
IX-23 InsuranceManagement $38,707$38,707
IX-24 Other expenses (24a–d)Programs $184,784 · Fundraising $1,867$186,651
IX-25 Total functional expensesPrograms $3,088,323 · Management $173,996 · Fundraising $1,867$3,264,186
Part X · Balance sheet $642,695 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $175,398$375,437
X-4 Accounts receivableStart of year $3,500$117,779
X-8 Inventories for sale or use$319
X-10c Land, buildings and equipment, netStart of year $97,029$147,449
X-15 Other assets$1,711
X-16 Total assetsStart of year $275,927$642,695
X-17 Accounts payable and accrued expensesStart of year $224,739$45,186
X-19 Deferred revenue$82,793
X-24 Unsecured notes and loans payableStart of year $32,716$321,100
X-25 Other liabilitiesStart of year $86,981$182,287
X-26 Total liabilitiesStart of year $344,436$631,366
X-32 Total net assets or fund balancesStart of year −$68,509$11,329
X-33 Total liabilities and net assetsStart of year $275,927$642,695
Part XI · Reconciliation of net assets $11,329 net assets at year end
XI-1 Total revenue$3,354,696
XI-2 Total expenses$3,264,186
XI-3 Revenue less expenses$90,510
XI-4 Net assets at start of year−$68,509
XI-8 Prior period adjustments−$10,672
XI-10 Net assets at end of year$11,329

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

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