Leeway Inc
Leeway Inc: Consistent Revenue, Declining Liquidity, and High Program Spending
EIN: 223065847 · New Haven, CT · NTEE: G81Z · Updated: 2026-04-04
About Leeway Inc
Leeway Inc (EIN: 223065847) is a nonprofit organization based in New Haven, CT, classified under NTEE code G81Z. The organization reported total revenue of $9.4M and total assets of $8.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Leeway Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Leeway Inc with a Mission Score of 75 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Leeway Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% for the highest-paid employees across all available filings, which is unusual and requires clarification on the actual compensation structure for leadership.
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 Leeway Inc's IRS 990 filings:
- Consistent reporting of 0% compensation for highest-paid employees across all years raises questions about the accuracy and completeness of executive compensation disclosures.
- A continuous decline in liquidity, with liabilities growing from $4,484,425 in 2023 to $7,605,160 in 2017, suggests potential financial strain if not managed effectively.
- Total expenses have consistently been very close to total revenue, indicating a tight operating margin and limited reserves for unexpected events.
Strengths
The following positive indicators were identified for Leeway Inc:
- Leeway Inc. demonstrates consistent revenue generation, maintaining over $7.5 million annually for the past seven years, indicating stable donor support or program funding.
- The organization consistently allocates a high percentage of its expenses to programs, suggesting a strong commitment to its mission.
- Assets have remained relatively stable, hovering around $9-10 million, providing a base for operations despite declining liquidity.
Frequently Asked Questions about Leeway Inc
What does Leeway Inc do?
Leeway Inc is a nonprofit organization in the Diseases, Disorders & Medical Disciplines sector, located in New Haven, Connecticut. It is classified under NTEE code G81Z.
How much revenue does Leeway Inc have?
Leeway Inc reported total revenue of $9,401,926. Based on 13 IRS 990 filings on record.
What are Leeway Inc's total assets?
Leeway Inc holds total assets of $8,697,862 as reported in IRS 990 filings.
Where is Leeway Inc located?
Leeway Inc is based in New Haven, Connecticut.
What is Leeway Inc's EIN?
Leeway Inc's Employer Identification Number (EIN) is 223065847. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Leeway Inc?
Leeway Inc is classified under NTEE code G81Z (Diseases, Disorders & Medical Disciplines).
Is Leeway Inc a registered 501(c)(3)?
Yes, Leeway Inc is recognized as a tax-exempt organization by the IRS. EIN: 223065847.
Does Leeway Inc file IRS Form 990?
Yes, Leeway Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202309.
What was Leeway Inc's revenue in 2023?
In the 202309 filing period, Leeway Inc reported total revenue of $8,733,468, total expenses of $8,634,639, and net assets of $9,132,438.
Is Leeway Inc's revenue growing or declining?
Leeway Inc's revenue is relatively stable. Revenue went from $8,320,156 (202209) to $8,733,468 (202309), a +5.0% change. Based on 13 filings on record.
What is Leeway Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Leeway Inc covers tax period 202309. It shows revenue of $8,733,468, expenses of $8,634,639, total assets of $9,132,438, and liabilities of $4,484,425.
How much does Leeway Inc spend on programs vs administration?
Based on IRS 990 analysis, Leeway Inc allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Leeway Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Leeway Inc appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Leeway Inc?
The following concerns were identified: Consistent reporting of 0% compensation for highest-paid employees across all years raises questions about the accuracy and completeness of executive compensation disclosures.. A continuous decline in liquidity, with liabilities growing from $4,484,425 in 2023 to $7,605,160 in 2017, suggests potential financial strain if not managed effectively.. Total expenses have consistently been very close to total revenue, indicating a tight operating margin and limited reserves for unexpected events.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Leeway Inc's strengths?
Positive indicators for Leeway Inc include: Leeway Inc. demonstrates consistent revenue generation, maintaining over $7.5 million annually for the past seven years, indicating stable donor support or program funding.. The organization consistently allocates a high percentage of its expenses to programs, suggesting a strong commitment to its mission.. Assets have remained relatively stable, hovering around $9-10 million, providing a base for operations despite declining liquidity.. These findings are derived from AI analysis of the organization's financial filings.
How does Leeway Inc compensate executives?
Executive compensation is reported as 0% for the highest-paid employees across all available filings, which is unusual and requires clarification on the actual compensation structure for leadership. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the reported 0% compensation for highest-paid employees, how does Leeway Inc. attract and retain senior leadership, and what is the actual total compensation for its executives?
The consistent reporting of 0% compensation for the highest-paid employees in all available filings (e.g., 202309, 202209, etc.) is highly unusual for an organization with revenues exceeding $7 million. This suggests that executive compensation might be structured in a way that is not captured by this specific disclosure, or it could indicate a reliance on pro-bono leadership, which would be a significant operational factor. Further inquiry into their Form 990 or direct communication would be necessary to understand the true compensation model and its implications for leadership retention and operational sustainability.
What is the strategic plan to address the continuous decline in liquidity, as evidenced by the increasing liabilities and relatively stable assets?
Leeway Inc.'s liabilities have steadily increased from $4,484,425 in 2023 to $7,605,160 in 2017, while assets have remained relatively stable. This trend indicates a decreasing ability to cover short-term obligations. A strategic plan should outline how the organization intends to either reduce its liabilities, increase its unrestricted assets, or improve its cash flow management to ensure long-term financial health and operational flexibility.
Filing History
IRS 990 filing history for Leeway Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Leeway Inc's revenue has grown by 29.4%, moving from $6.7M to $8.7M. Total assets increased by 99.3% over the same period, from $4.6M to $9.1M. Total functional expenses rose by 26.2%, from $6.8M to $8.6M. In its most recent filing year (2023), Leeway Inc reported a surplus of $99K, with revenue exceeding expenses. The organization holds $4.5M in liabilities against $9.1M in assets (debt-to-asset ratio: 49.1%), resulting in net assets of $4.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $8.7M | $8.6M | $9.1M | $4.5M | — | — |
| 2022 | $8.3M | $8.1M | $9.4M | $4.8M | — | View 990 |
| 2021 | $8.5M | $8.0M | $9.8M | $5.7M | — | View 990 |
| 2020 | $7.7M | $7.4M | $10.2M | $6.6M | — | — |
| 2019 | $7.5M | $7.3M | $9.5M | $6.2M | — | View 990 |
| 2018 | $8.3M | $8.0M | $10.1M | $6.7M | — | View 990 |
| 2017 | $8.0M | $7.6M | $10.6M | $7.6M | — | View 990 |
| 2016 | $7.3M | $7.3M | $9.9M | $7.5M | — | View 990 |
| 2015 | $5.8M | $6.2M | $9.0M | $6.6M | — | View 990 |
| 2014 | $5.5M | $5.6M | $5.3M | $2.4M | — | View 990 |
| 2013 | $6.1M | $6.0M | $4.3M | $1.4M | — | View 990 |
| 2012 | $6.4M | $6.4M | $4.7M | $1.9M | — | View 990 |
| 2011 | $6.7M | $6.8M | $4.6M | $1.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.7M, expenses of $8.6M, and assets of $9.1M (revenue +5.0% year-over-year).
- 2022: Revenue of $8.3M, expenses of $8.1M, and assets of $9.4M (revenue -2.1% year-over-year).
- 2021: Revenue of $8.5M, expenses of $8.0M, and assets of $9.8M (revenue +9.8% year-over-year).
- 2020: Revenue of $7.7M, expenses of $7.4M, and assets of $10.2M (revenue +2.6% year-over-year).
- 2019: Revenue of $7.5M, expenses of $7.3M, and assets of $9.5M (revenue -8.7% year-over-year).
- 2018: Revenue of $8.3M, expenses of $8.0M, and assets of $10.1M (revenue +3.8% year-over-year).
- 2017: Revenue of $8.0M, expenses of $7.6M, and assets of $10.6M (revenue +9.6% year-over-year).
- 2016: Revenue of $7.3M, expenses of $7.3M, and assets of $9.9M (revenue +24.1% year-over-year).
- 2015: Revenue of $5.8M, expenses of $6.2M, and assets of $9.0M (revenue +5.6% year-over-year).
- 2014: Revenue of $5.5M, expenses of $5.6M, and assets of $5.3M (revenue -8.6% year-over-year).
- 2013: Revenue of $6.1M, expenses of $6.0M, and assets of $4.3M (revenue -5.3% year-over-year).
- 2012: Revenue of $6.4M, expenses of $6.4M, and assets of $4.7M (revenue -5.1% year-over-year).
- 2011: Revenue of $6.7M, expenses of $6.8M, and assets of $4.6M.
Data Sources and Methodology
This transparency report for Leeway 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.