Quantum Leap Incorporated
Quantum Leap Incorporated shows consistent revenue growth but frequently operates with expenses exceeding revenue, reporting no officer compensation.
EIN: 201924540 · Owings Mills, MD · NTEE: L24 · Updated: 2026-03-28
Is Quantum Leap Incorporated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Quantum Leap Incorporated directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Quantum Leap Incorporated
Quantum Leap Incorporated (EIN: 201924540) is a nonprofit organization based in Owings Mills, MD, classified under NTEE code L24. The organization reported total revenue of $13.1M and total assets of $6.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Quantum Leap Incorporated'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 Quantum Leap Incorporated 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, Quantum Leap Incorporated 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
Quantum Leap Incorporated consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with over $12 million in revenue, suggesting either pro-bono leadership or compensation structured in a way not captured under 'officer compensation' on the 990.
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 Quantum Leap Incorporated's IRS 990 filings:
- Frequent periods where expenses exceed revenue (e.g., 2023, 2020, 2019, 2018, 2017, 2014), potentially indicating reliance on reserves or unsustainable spending patterns.
- Consistent reporting of 0% officer compensation for an organization with over $12 million in revenue, which is highly unusual and warrants further investigation into executive remuneration practices.
- Significant and growing liabilities, reaching $7,052,346 in 2023, which could indicate substantial debt or other financial obligations.
Strengths
The following positive indicators were identified for Quantum Leap Incorporated:
- Consistent and substantial revenue growth over the past decade, from $4 million in 2014 to over $12 million in 2023, demonstrating strong fundraising or service delivery capabilities.
- Significant growth in assets, from negative in 2014 to over $7.5 million in 2023, indicating increasing financial capacity.
- Strong program focus implied by the NTEE code L24 (Mental Health Treatment Facilities), suggesting a clear mission alignment for spending.
Frequently Asked Questions about Quantum Leap Incorporated
Is Quantum Leap Incorporated a legitimate charity?
Based on AI analysis of IRS 990 filings, Quantum Leap Incorporated (EIN: 201924540) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Quantum Leap Incorporated spend its money?
Quantum Leap Incorporated directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Quantum Leap Incorporated tax-deductible?
Quantum Leap Incorporated is registered as a tax-exempt nonprofit (EIN: 201924540). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Quantum Leap Incorporated fund its operations when expenses frequently exceed revenue, as seen in 2023 ($12,702,781 expenses vs $12,448,383 revenue)?
The organization likely covers these deficits through accumulated reserves from prior profitable years (e.g., 2022 where revenue exceeded expenses by over $1.2 million), or through other non-operating income sources not detailed in the provided summary.
What is the nature of the significant liabilities reported, which reached $7,052,346 in 2023?
Without further detail, these liabilities could represent deferred revenue, program-related debt, or other financial obligations incurred during the organization's expansion. A detailed balance sheet would be needed for a precise understanding.
Given the 0% officer compensation, how are the organization's top executives compensated, if at all?
The consistent reporting of 0% officer compensation suggests that either the top leadership serves on a purely voluntary basis, or their compensation is categorized under other expense lines (e.g., salaries and wages for non-officer roles, or through related organizations) not explicitly identified as 'officer compensation' on the 990.
What is the specific NTEE code L24, and how does it relate to the organization's mission and spending?
NTEE code L24 typically refers to 'Mental Health Treatment Facilities'. This suggests Quantum Leap Incorporated's primary mission is related to providing mental health services, which would align with significant program spending in this area.
Filing History
IRS 990 filing history for Quantum Leap Incorporated showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Quantum Leap Incorporated's revenue has grown by 265.7%, moving from $3.4M to $12.4M. Total assets increased by 342.9% over the same period, from $1.7M to $7.6M. Total functional expenses rose by 273%, from $3.4M to $12.7M. In its most recent filing year (2023), Quantum Leap Incorporated reported a deficit of $254K, with expenses exceeding revenue. The organization holds $7.1M in liabilities against $7.6M in assets (debt-to-asset ratio: 93.2%), resulting in net assets of $513K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $12.4M | $12.7M | $7.6M | $7.1M | — | — |
| 2022 | $12.8M | $11.6M | $7.3M | $6.6M | — | View 990 |
| 2021 | $10.6M | $9.9M | $5.7M | $6.2M | — | View 990 |
| 2020 | $7.5M | $7.7M | $4.3M | $5.6M | — | View 990 |
| 2019 | $6.5M | $7.0M | $3.8M | $4.9M | — | View 990 |
| 2018 | $5.2M | $5.5M | $3.4M | $4.0M | — | View 990 |
| 2017 | $4.6M | $4.8M | $2.7M | $3.0M | — | View 990 |
| 2016 | $4.4M | $4.1M | $1.3M | $1.4M | — | View 990 |
| 2015 | $4.1M | $4.1M | $1.2M | $1.5M | — | View 990 |
| 2014 | $4.0M | $4.3M | $-59,791 | $365K | — | View 990 |
| 2013 | $4.1M | $4.3M | $882K | $1.1M | — | View 990 |
| 2012 | $4.0M | $4.0M | $595K | $657K | — | View 990 |
| 2011 | $3.4M | $3.4M | $1.7M | $1.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $12.4M, expenses of $12.7M, and assets of $7.6M (revenue -3.1% year-over-year).
- 2022: Revenue of $12.8M, expenses of $11.6M, and assets of $7.3M (revenue +21.3% year-over-year).
- 2021: Revenue of $10.6M, expenses of $9.9M, and assets of $5.7M (revenue +40.4% year-over-year).
- 2020: Revenue of $7.5M, expenses of $7.7M, and assets of $4.3M (revenue +15.9% year-over-year).
- 2019: Revenue of $6.5M, expenses of $7.0M, and assets of $3.8M (revenue +26.0% year-over-year).
- 2018: Revenue of $5.2M, expenses of $5.5M, and assets of $3.4M (revenue +12.9% year-over-year).
- 2017: Revenue of $4.6M, expenses of $4.8M, and assets of $2.7M (revenue +4.2% year-over-year).
- 2016: Revenue of $4.4M, expenses of $4.1M, and assets of $1.3M (revenue +5.9% year-over-year).
- 2015: Revenue of $4.1M, expenses of $4.1M, and assets of $1.2M (revenue +2.7% year-over-year).
- 2014: Revenue of $4.0M, expenses of $4.3M, and assets of $-59,791 (revenue -2.3% year-over-year).
- 2013: Revenue of $4.1M, expenses of $4.3M, and assets of $882K (revenue +2.0% year-over-year).
- 2012: Revenue of $4.0M, expenses of $4.0M, and assets of $595K (revenue +19.0% year-over-year).
- 2011: Revenue of $3.4M, expenses of $3.4M, and assets of $1.7M.
Data Sources and Methodology
This transparency report for Quantum Leap Incorporated 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.