Leadership Needed Foundation Inc

Nonprofit profile at a glance

EIN
830508963
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-N 2017
Location
Marietta, GA, USA
Phone
4042561606
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Alliance/Advocacy Organizations

Reported finances

Revenue
$1,422,060
Expenses
$77,289
Assets
$1,618,318
Liabilities
$26,329

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • DR MOHAMMAD BHUIYAN (VICE CHAIRMAN, PRESIDENT)

People named in this filing

  • DR RAKTIM SEN (CHAIRMAN)
  • DR MOHAMMAD BHUIYAN (VICE CHAIRMAN, PRESIDENT)
  • MR BILL LANKFORD (TREASURER, EX-OFFICIO)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o.

What it reported doing in 2024

Help colleges and universities (hbcus in particular) in developing a comprehensive entrepreneurship, leadership, financial literacy, career development, and coaching curriculum that is particularly relevant in preparing young men and women to: 1. Develop an entrepreneurial mindset to become more effective and successful in the corporate world. 2. Become successful entrepreneurs by avoiding costly mistakes. 3. Contribute to the generational wealth creation. 4. Become an effective leader and a good human being. Stimulate students' interest in entrepreneurship and provide them with the experience of conceiving business ventures and preparing and presenting business plans. Provide training and networking opportunities to entrepreneurs so that they can move up to the next level. Annual event is held in april each year.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 37
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 92
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 5.6%; rating input score 6
  • Program expense ratio: 100%; rating input score 100
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 94.6%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 20.94; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 64; 64th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 56.4% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 45.9% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 32.1% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 5.6% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $77K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 6/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.