Leap

What it reported doing in 2025

Regional growth department: the lansing economic area partnership (leap) provides economic development services and programs throughout the metropolitan lansing region (ingham, eaton, and clinton counties). The organization focuses on proactive business expansion, attraction, and retention, working directly with key businesses in targeted industries, both domestically and internationally, to provide assistance and incentives that result in the creation and retention of jobs and investment in the lansing region. This is achieved through regular communication with regional businesses, engagement with the real estate site selection community, collaboration with regional municipalities, and partnership with local universities and colleges to attract and retain talent. Leap's five strategic focus areas are: attracting new business and investment, expanding and retaining existing businesses, supporting entrepreneurs, advancing equitable economic development, and marketing the lansing region.in 2025, leap's regional growth department delivered record-breaking results: 76 business retention visits along with a cumulative total of 260 new jobs and $143,205,000 in new capital investment committed to the region. The department also conducted 48 real estate site searches and hosted 20 prospective company visits to the region. Leap's regional growth department executes the organization's core economic development mission through business attraction, business expansion, retention, industry cluster development, and community placemaking. In 2025, the department drove significant new investment and job creation, launched a new industry cluster initiative, and supported key community development projects. Leap's business attraction efforts in 2025 resulted in several major project wins and announcements across advanced manufacturing, agriculture, and foreign direct investment.niowave, inc. - a national leader in superconducting linear accelerators and advanced radioisotope technology - announced plans to construct a new facility at the capital region international airport (lan), representing a $65 million capital investment and the creation of 80 high-wage jobs. Construction is scheduled to begin in spring 2026, with full operations expected by fall 2027. Niowave's technology supports medical isotope production, clean energy research, and national security applications, furthering lansing's position as a hub for particle accelerator technology and advanced manufacturing, anchored by proximity to Michigan state university (msu) and the facility for rare isotope beams (frib). The port lansing next Michigan development corporation (nmdc) established an industrial development district and granted niowave a public act 198 industrial facilities tax exemption in support of the project.Michigan milk producers association (mmpa) - the ninth-largest u.s. Dairy farmer-owned cooperative - celebrated a ribbon-cutting for a major expansion of its ultrafiltered milk processing facility in ovid, Michigan. The project represents a $47.8 million investment and the creation of 13 new jobs, with full operations expected in 2026. The expansion addresses growing consumer demand for high-protein, low-sugar dairy products and brings renewed investment and employment to a rural community in the tri-county region. Leap's foreign direct investment efforts in 2025 supported the successful u.s. Market entry of ubivis, a brazilian-based artificial intelligence company that uses ai to help manufacturing industries improve efficiency, profitability, and competitiveness. Leap provided full-spectrum support for ubivis's transition to lansing, including navigating regulatory and business processes and supporting employee settlement.as part of leap's global lansing initiative, ubivis received project funding and was further supported through leap's ascend business accelerator program. Ubivis subsequently became a tenant in the east lansing technology innovation center (tic), ope

Financial Efficiency

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

Transparency & Controls

• Consistency checks: 90%; rating input score 90; 5th percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 1 of 8 controls in place; rating input score 12
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Fail
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 90.8%; rating input score 91; 32nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Fail
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -1.8%; rating input score 21; 21st percentile among comparable filings
• Total-asset coverage ratio: 0.84; rating input score 28; 28th percentile among comparable filings
• Liabilities to assets ratio: 0.71; rating input score 10; 10th percentile among comparable filings
• Officer compensation ratio: 9.7%; rating input score 34; 34th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 19.8% per year; rating input score 100; 86th percentile among comparable filings
• Asset growth: 20.6% per year; rating input score 100; 85th percentile among comparable filings