Leap Innovations
EIN: 464784152 · Chicago, IL · NTEE: P20
| Metric | Value |
|---|---|
| Total Revenue | $480K |
| Total Expenses | $2.0M |
| Net Assets | $712K |
Is Leap Innovations Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Leap Innovations
Leap Innovations (EIN: 464784152) is a nonprofit organization based in Chicago, IL, classified under NTEE code P20. The organization reported total revenue of $480K and total assets of $600K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Leap Innovations's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Leap Innovations is a small nonprofit that has been operating for 12 years, with 9 years of IRS 990 filings on record (2015–2023). Revenue has grown at a compound annual rate of -23.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.1M |
| Total Expenses | $2.0M |
| Surplus / Deficit | $-931,314 |
| Total Assets | $1.1M |
| Total Liabilities | $355K |
| Net Assets | $712K |
| Operating Margin | -85.6% |
| Debt-to-Asset Ratio | 33.3% |
| Months of Reserves | 6.3 months |
Financial Health Grade: B
In 2023, Leap Innovations reported a deficit of $931K with expenses exceeding revenue, holds 6.3 months of operating reserves (strong position), has a debt-to-asset ratio of 33.3% (moderate leverage).
Financial Trends
Over 9 years of filings (2015–2023), Leap Innovations's revenue has declined at a compound annual growth rate (CAGR) of -23.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -71.2% | -45.0% | -42.2% |
| 2022 | +1.2% | -29.9% | -51.4% |
| 2021 | -37.7% | -42.4% | -14.1% |
| 2020 | -44.6% | -11.2% | -37.5% |
| 2019 | +30.5% | +32.1% | +9.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Leap Innovations has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Leap Innovations with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $931K, with expenses exceeding revenue.
- Debt-to-asset ratio: 33.3%.
Frequently Asked Questions about Leap Innovations
Is Leap Innovations a legitimate charity?
Leap Innovations (EIN: 464784152) is a registered tax-exempt nonprofit based in Illinois. It has 9 years of IRS 990 filings on record. Total revenue: $480K. No red flags identified. Financial health grade: B.
How does Leap Innovations spend its money?
Leap Innovations reported $480K in total revenue in IRS 990 filings. 9 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Leap Innovations tax-deductible?
Leap Innovations is registered as a tax-exempt nonprofit (EIN: 464784152). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Leap Innovations located?
Leap Innovations is headquartered in Chicago, Illinois and files with the IRS under EIN 464784152. It is classified under NTEE code P20.
How many years of IRS 990 filings does Leap Innovations have?
Leap Innovations has 9 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $480K in total revenue.
Filing History
IRS 990 filing history for Leap Innovations showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2015–2023), Leap Innovations's revenue has declined by 87.8%, moving from $8.9M to $1.1M. Total assets decreased by 84.6% over the same period, from $6.9M to $1.1M. Total functional expenses fell by 6.4%, from $2.2M to $2.0M. In its most recent filing year (2023), Leap Innovations reported a deficit of $931K, with expenses exceeding revenue. The organization holds $355K in liabilities against $1.1M in assets (debt-to-asset ratio: 33.3%), resulting in net assets of $712K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.1M | $2.0M | $1.1M | $355K | — | View 990 |
| 2022 | $3.8M | $3.7M | $1.8M | $203K | — | View 990 |
| 2021 | $3.7M | $5.2M | $3.8M | $2.3M | — | — |
| 2020 | $6.0M | $9.1M | $4.4M | $1.3M | — | View 990 |
| 2019 | $10.8M | $10.2M | $7.1M | $880K | — | View 990 |
| 2018 | $8.3M | $7.7M | $6.5M | $846K | — | View 990 |
| 2017 | $3.7M | $6.0M | $5.5M | $369K | — | View 990 |
| 2016 | $5.8M | $5.2M | $7.9M | $570K | — | View 990 |
| 2015 | $8.9M | $2.2M | $6.9M | $199K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.1M, expenses of $2.0M, and assets of $1.1M (revenue -71.2% year-over-year).
- 2022: Revenue of $3.8M, expenses of $3.7M, and assets of $1.8M (revenue +1.2% year-over-year).
- 2021: Revenue of $3.7M, expenses of $5.2M, and assets of $3.8M (revenue -37.7% year-over-year).
- 2020: Revenue of $6.0M, expenses of $9.1M, and assets of $4.4M (revenue -44.6% year-over-year).
- 2019: Revenue of $10.8M, expenses of $10.2M, and assets of $7.1M (revenue +30.5% year-over-year).
- 2018: Revenue of $8.3M, expenses of $7.7M, and assets of $6.5M (revenue +123.9% year-over-year).
- 2017: Revenue of $3.7M, expenses of $6.0M, and assets of $5.5M (revenue -36.5% year-over-year).
- 2016: Revenue of $5.8M, expenses of $5.2M, and assets of $7.9M (revenue -34.6% year-over-year).
- 2015: Revenue of $8.9M, expenses of $2.2M, and assets of $6.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Leap Innovations:
Data Sources and Methodology
This transparency report for Leap Innovations is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.