Lee Inc
Lee Inc. shows fluctuating revenues and expenses, with recent deficits, but reports zero officer compensation.
EIN: 208848357 · Wilmington, DE · NTEE: B90 · Updated: 2026-03-28
Is Lee Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lee Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lee Inc
Lee Inc (EIN: 208848357) is a nonprofit organization based in Wilmington, DE, classified under NTEE code B90. The organization reported total revenue of $24.9M and total assets of $3.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lee Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lee Inc is a large nonprofit that has been operating for 8 years, with 7 years of IRS 990 filings on record (2017–2023). Revenue has grown at a compound annual rate of -8.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $17.9M |
| Total Expenses | $18.2M |
| Surplus / Deficit | $-304,815 |
| Total Assets | $3.7M |
| Total Liabilities | $2.6M |
| Net Assets | $1.1M |
| Operating Margin | -1.7% |
| Debt-to-Asset Ratio | 71.2% |
| Months of Reserves | 2.4 months |
Financial Health Grade: D
In 2023, Lee Inc reported a deficit of $305K with expenses exceeding revenue, holds 2.4 months of operating reserves (limited), has a debt-to-asset ratio of 71.2% (high leverage).
Financial Trends
Over 7 years of filings (2017–2023), Lee Inc's revenue has declined at a compound annual growth rate (CAGR) of -8.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +14.9% | -5.6% | -7.2% |
| 2022 | -52.3% | -32.5% | -54.5% |
| 2021 | +23.3% | +11.5% | +132.2% |
| 2020 | -17.8% | -5.0% | +19.9% |
| 2019 | +44.2% | -5.4% | +39.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2018 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Lee Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Lee Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $305K, with expenses exceeding revenue.
- Debt-to-asset ratio: 71.2%.
Executive Compensation Analysis
Lee Inc. consistently reports 0% officer compensation across all seven available IRS 990 filings, which is highly unusual for an organization with annual revenues in the tens of millions, suggesting either a fully volunteer executive leadership or that compensation is categorized differently.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Lee Inc's IRS 990 filings:
- Frequent periods where expenses exceed revenue, such as in 202312 and 202212, indicating potential operational deficits.
- Consistent reporting of 0% officer compensation for an organization with multi-million dollar revenues, which is highly unusual and may obscure executive pay.
Strengths
The following positive indicators were identified for Lee Inc:
- Consistent filing of IRS Form 990s over seven periods, demonstrating commitment to transparency and compliance.
- Maintains a healthy asset-to-liability ratio, with assets generally exceeding liabilities.
- Significant revenue generation, indicating a capacity to attract substantial funding for its mission.
Frequently Asked Questions about Lee Inc
Is Lee Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lee Inc (EIN: 208848357) some concerns. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
How does Lee Inc spend its money?
Lee Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lee Inc tax-deductible?
Lee Inc is registered as a tax-exempt nonprofit (EIN: 208848357). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Lee Inc. financially stable given its fluctuating revenues and occasional deficits?
Lee Inc. has experienced periods where expenses exceeded revenue, such as in 202312 ($18,178,915 expenses vs. $17,874,100 revenue) and 202212 ($19,266,676 expenses vs. $15,553,361 revenue). While it maintains a positive asset-to-liability ratio, these deficits warrant monitoring for long-term stability.
How does Lee Inc. manage to report 0% officer compensation with its scale of operations?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization with revenues reaching over $32 million. This could indicate a volunteer-led executive team, or that executive compensation is reported under other expense categories, which would require further investigation into the full 990 forms.
What is the trend in Lee Inc.'s assets and liabilities?
Lee Inc.'s assets have fluctuated significantly, from a low of $2,248,624 in 201812 to a high of $8,736,194 in 202112. Liabilities have also varied, but generally, assets have exceeded liabilities, indicating a healthy balance sheet, with the latest period showing assets of $3,691,580 against liabilities of $2,628,445.
Filing History
IRS 990 filing history for Lee Inc showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2017–2023), Lee Inc's revenue has declined by 39.7%, moving from $29.6M to $17.9M. Total assets decreased by 20.3% over the same period, from $4.6M to $3.7M. Total functional expenses fell by 36.2%, from $28.5M to $18.2M. In its most recent filing year (2023), Lee Inc reported a deficit of $305K, with expenses exceeding revenue. The organization holds $2.6M in liabilities against $3.7M in assets (debt-to-asset ratio: 71.2%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $17.9M | $18.2M | $3.7M | $2.6M | — | — |
| 2022 | $15.6M | $19.3M | $4.0M | $2.6M | — | View 990 |
| 2021 | $32.6M | $28.6M | $8.7M | $3.7M | — | View 990 |
| 2020 | $26.4M | $25.6M | $3.8M | $2.7M | — | View 990 |
| 2019 | $32.2M | $26.9M | $3.1M | $2.9M | — | — |
| 2018 | $22.3M | $28.5M | $2.2M | $7.2M | — | View 990 |
| 2017 | $29.6M | $28.5M | $4.6M | $3.4M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $17.9M, expenses of $18.2M, and assets of $3.7M (revenue +14.9% year-over-year).
- 2022: Revenue of $15.6M, expenses of $19.3M, and assets of $4.0M (revenue -52.3% year-over-year).
- 2021: Revenue of $32.6M, expenses of $28.6M, and assets of $8.7M (revenue +23.3% year-over-year).
- 2020: Revenue of $26.4M, expenses of $25.6M, and assets of $3.8M (revenue -17.8% year-over-year).
- 2019: Revenue of $32.2M, expenses of $26.9M, and assets of $3.1M (revenue +44.2% year-over-year).
- 2018: Revenue of $22.3M, expenses of $28.5M, and assets of $2.2M (revenue -24.7% year-over-year).
- 2017: Revenue of $29.6M, expenses of $28.5M, and assets of $4.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lee Inc:
Data Sources and Methodology
This transparency report for Lee Inc 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.