Leap Year Inc

Nonprofit profile at a glance

EIN
811224809
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2017, Form 990-N 2016
Location
Atlanta, GA, USA
Phone
4045009946
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Remedial Reading, Reading Encouragement

Official website

Reported finances

Revenue
$554,237
Expenses
$752,527
Assets
$169,105
Liabilities
$13,492

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

Leadership & pay

13 people listed

Highest reported compensation

  • AMBER SCOTT (EXECUTIVE DI): $96,918 total reported compensation

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

Overview

Mission

The mission of leap year inc is to prepare young, talented students to reach their academic and leadership potential by attending college and breaking the cycle of poverty.

What it reported doing in 2024

Leap year is a nonprofit organization that is improving college success and literacy results in metro-atlanta by recruiting first generation high school graduates to serve as second grade reading coaches through our year long community service and college readiness program. During the 2023-2024 school year, leap year fellows supported over 300 students at three schools: slater elementary, barack and michelle obama academy, and finch elementary school. The teachers at our partner shcools reported that having fellows in the classroom helped improve reading outcomes for their students. Our evidence-based academic curriculum, and the hard work of our talented program managers, resulted in our students improving their reading skills, and our fellows starting Georgia state university prepared to succeed.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 71% for direct work, and 29% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 94
  • Accountability: 63
  • Sustainability: 14
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81.3%; rating input score 81
  • Fundraising efficiency: $57.45 raised per $1 spent on fundraising; rating input score 80; 80th percentile among comparable filings

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: 100%; rating input score 100; 76th percentile among comparable filings
  • 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: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -35.8%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 12.9%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 30.9% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 15% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 13.4% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 81.3% of spending went to programs
  • Governance: 12 of 12 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $612K in reported program spending
  • Leadership: top reported pay $97K · 13 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 to 2024
  • 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.

  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.