L & E Academy Foundation

Nonprofit profile at a glance

EIN
462410522
IRS 990 coverage
2013–2023
Forms available
Form 990 2023
Location
Seattle, WA, USA
Phone
4252986451
Rating confidence
Limited
Sector
Secondary, High School

Official website

Reported finances

Revenue
$193,424
Expenses
$138,266
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • ELIZABETH MCFARLAND (EXECUTIVE DIRECTOR/HEAD OF SCHOOL)
  • MAUREEN O'SHAUGHNESSY (FORMER EXECUTIVE DIRECTOR)
  • MEAGAN O'LEARY (BOARD PRESIDENT)

Highest reported compensation

  • ELIZABETH MCFARLAND (EXECUTIVE DIRECTOR/HEAD OF SCHOOL): $64,338 total reported compensation
  • MAUREEN O'SHAUGHNESSY (FORMER EXECUTIVE DIRECTOR): $12,268 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2023

See additional data - education

Operating model

Revenue model
Other-operating. 71% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 69
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 22nd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 28.5%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 55.4%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 13.6% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 15.6% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 16.7% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 6 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · -$2K in reported program spending
  • Leadership: top reported pay $64K · 7 people listed
  • Consistency: 40 of 40 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 11 filing years from 2013 to 2023
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.