Leo Inc

Nonprofit profile at a glance

EIN
042378885
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Lynn, MA, USA
Phone
7815817220
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Family Services

Official website

Reported finances

Revenue
$17,482,579
Expenses
$14,878,417
Assets
$26,407,759
Liabilities
$6,988,957

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

Leadership & pay

17 people listed

Executive titles in this filing

  • JAMES LOW (PRESIDENT)
  • POSAN UNG (VICE PRESIDENT)
  • BIRGITTA S DAMON (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • BIRGITTA S DAMON (CHIEF EXECUTIVE OFFICER): $246,403 total reported compensation
  • KARA MURPHY (CHIEF FINANCIAL OFFICER): $178,428 total reported compensation
  • LILIAN ROMERO (CHIEF PROGRAM OFFICER): $157,441 total reported compensation

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

Overview

Mission

Leo inc.'s mission is to strengthen the greater lynn community through resources and services that provide opportunities for children, families and individuals to thrive.

What it reported doing in 2024

Early childhood education services include head start (ages 3-5) and early head start (ages 6 weeks-3 years) services in lynn. Early head start includes a home-based component and also serves women who are pregnant, up to and beyond delivery. In the past year, leo had 450 children enrolled in its programs, which are based on a comprehensive school readiness curriculum, nutritional and wellness goals, health assessments, and behavioral and mental health support.

Operating model

Revenue model
Grant-funded. 89% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 76% for direct work, and 24% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.1%; rating input score 76
  • Program expense ratio: 88.2%; rating input score 88
  • Fundraising efficiency: $253.07 raised per $1 spent on fundraising; rating input score 91; 91st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • 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: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 14.9%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 1.77; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 4.2% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 9.7% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 76.1% of revenue deployed · 88.2% of spending went to programs
  • Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $13.1M in reported program spending
  • Leadership: top reported pay $246K · 17 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 41 of 41 current checks pass
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 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 — Sustainability: Total-asset coverage ratio scored 57/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.