2024-02-15T10:34:51-06:00 2023-06-30 362170602 WARADY & DAVIS LLP 1717 DEERFIELD RD SUITE 300S DEERFIELD IL 60015 990 2022-07-01 464784152 LEAP INNOVATIONS LEAP 3128097029 20 W KINZIE STREET 1500 CHICAGO IL 60654 PHYLLIS LOCKETT PRESIDENT & CEO 3128097029 2024-02-01 1 PHYLLIS LOCKETT 999009999 0 KOSTA G TCHOBANOV P01302744 8472679600 2024-01-31 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PHYLLIS LOCKETT 20 W KINZIE STREET 1500 CHICAGO IL 60654 1088512 0 X WWW.LEAPINNOVATIONS.ORG X 2013 IL TO CREATE EQUITABLE PERSONALIZED LEARNING EXPERIENCES FOR LEARNERS TO REACH THEIR FULL POTENTIAL. 8 7 17 7 0 0 3630719 1061868 51784 0 11724 26331 82761 313 3776988 1088512 0 0 0 0 1976707 1266279 0 0 280995 1693801 753547 3670508 2019826 106480 -931314 1845737 1067353 202569 355499 1643168 711854 X TO CREATE EQUITABLE PERSONALIZED LEARNING EXPERIENCES FOR LEARNERS TO REACH THEIR FULL POTENTIAL. 0 1 1205120 THE NEW LEARNING MODEL WILL ALIGN THE NEEDS, INTERESTS AND AMBITIONS OF EACH STUDENT - WITH COMMUNITY-BASED, IN-PERSON AND DIGITAL RESOURCES AND PROGRAMS. 1205120 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 28 0 17 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 0 IL X SILVIA KOSOVICH 3128097029 20 W KINZIE STREET SUITE 1500 CHICAGO IL 60654 PHYLLIS LOCKETT PRESIDENT & CEO 40.00 X X 333459 0 25604 MICHAEL ALTER CHAIR 0.50 X X 0 0 0 TIMOTHY SCHWERTFEGER DIRECTOR 0.50 X 0 0 0 ULRIK CHRISTENSEN DIRECTOR 0.50 X 0 0 0 MICHAEL MOE DIRECTOR 0.50 X 0 0 0 DAVID LEVY DIRECTOR 0.50 X 0 0 0 LEO MELAMED DIRECTOR 0.50 X 0 0 0 HARRIET SEITLER DIRECTOR 0.50 X 0 0 0 EMILY BADER SR DIR OF MARKETING COMM 40.00 X 175935 0 29488 DANIELLE MOEHRKE DIR OF STRATEGY & OPERATIONS 40.00 X 138237 0 15012 SILVIA KOSOVICH SR MANAGER OPERATIONS & ADMINISTRATION 40.00 X 103751 0 11156 751382 0 81260 4 0 1 0 SEAN BRAZIER 617 N 31ST STREET RICHMOND VA 23223 CONSULTING-NEXT GENERATION LEARNING 152925 1 1061868 1061868 26331 26331 MISCELLANEOUS INCOME 900099 1500 1500 LOSS ON ABANDONMENT 900099 -1187 -1187 313 1088512 0 0 26644 X 492478 215228 80259 196991 633069 473175 137081 22813 63937 44915 13182 5840 76795 47344 14883 14568 21172 21172 64914 64914 423392 323586 71450 28356 57027 56343 684 34561 18924 15256 381 77855 51232 16366 10257 1028 571 447 10 11948 508 11440 28 28 6551 3639 2912 34829 14574 19868 387 EDUCATOR PROF. DEV. 10569 10197 372 0 DUES AND SUBSCRIPTIONS 8437 540 7203 694 REP., MAINT. AND EQUIP. 1236 687 535 14 2019826 1205120 533711 280995 936043 860555 882779 198867 13235 2602 100350 95021 13680 5329 1845737 1067353 201270 105499 250000 1299 0 202569 355499 X 760389 514487 882779 197367 1643168 711854 1845737 1067353 -931314 0 X X 0 1 X 1 0 X 8674670 4231098 3114628 4056775 1061868 21139039 8674670 4231098 3114628 4056775 1061868 21139039 5417281 15721758 81510 47728 9142 11724 26331 176435 3000 82761 313 86074 21401548 4425488 0.73460 0.83610 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 100350 95021 5329 5329 X 1237314 148802 148802 1088512 0 1088512 2168628 148802 148802 2019826 0 2019826 PART X, LINE 2: LEAP FOLLOWS THE GUIDANCE IN THE FASB CODIFICATION TOPIC RELATED TO UNCERTAINTY IN INCOME TAXES WHICH PRESCRIBES A COMPREHENSIVE MODEL FOR RECOGNIZING, MEASURING, PRESENTING AND DISCLOSING IN THE FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT LEAP HAS TAKEN OR EXPECTS TO TAKE IN ITS TAX RETURNS. UNDER THE GUIDANCE, LEAP MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS "MORE LIKELY THAN NOT" THAT IT IS SUSTAINABLE, BASED ON ITS TECHNICAL MERITS. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION SHOULD BE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH A TAXING AUTHORITY HAVING FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. LEAP BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE POSITIONS TAKEN ON ITS RETURNS. X X 0 0 0 0 0 0 0 0 0 PHYLLIS LOCKETT PRESIDENT & CEO 333409 0 50 0 0 0 15346 0 10258 0 359063 0 0 0 EMILY BADER SR DIR OF MARKETING COMM 175785 0 150 0 0 0 9004 0 20484 0 205423 0 0 0 DANIELLE MOEHRKE DIR OF STRATEGY & OPERATIONS 138237 0 0 0 0 0 7000 0 8012 0 153249 0 0 0 PART I, LINE 3 THE PROCESS OF DETERMINING COMPENSATION FOR THE CEO UTILIZES A COMPENSATION ANALYSIS. THE BOARD OF DIRECTORS HAS OVERSIGHT OF THE PROCESS AND THE OVERALL ANNUAL COMPENSATION AMOUNT IS APPROVED BY THEM. FORM 990, PART III, LINE 3 THE ORGANIZATION MADE CHANGES TO ITS OPERATIONS AND PROGRAMS DUE TO THE COVID 19 PANDEMIC. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS ONE MEMBER, PHYLLIS LOCKETT, WHO IS THE INITIAL MEMBER. THE INITIAL MEMBER MAY FROM TIME TO TIME DESIGNATE ONE OR MORE INDIVIDUALS AS HER SUCCESSOR OR SUCCESSORS, OR A SERIES OF SUCCESSORS, TO SERVE AFTER THE INITIAL MEMBER CEASES TO BE A MEMBER AND MAY SPECIFY THE LENGTH OF TIME THAT EACH SUCCESSOR SHALL SERVE. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS SHALL: (A) HAVE THE RIGHT, TOGETHER WITH THE AFFIRMATIVE VOTE OF A MAJORITY OF THE THEN ACTING DIRECTORS OF THE CORPORATION, TO APPROVE AN AMENDMENT TO THE ARTICLES OF INCORPORATION; (B) HAVE THE RIGHT, TOGETHER WITH THE AFFIRMATIVE VOTE OF A MAJORITY OF THE THEN ACTING DIRECTORS OF THE CORPORATION, TO ADOPT AND AMEND THESE BYLAWS; (C) HAVE THE RIGHT TO APPROVE (I) ANY VOLUNTARY DISSOLUTION OF THE CORPORATION; (II) ANY MERGER OR CONSOLIDATION OF THE CORPORATION; OR (III) ANY SALE, LEASE, EXCHANGE, OR OTHER DISPOSITION OF ALL, OR SUBSTANTIALLY ALL, THE PROPERTY AND ASSETS OF THE CORPORATION IF NOT MADE IN THE USUAL AND REGULAR COURSE OF THE CONDUCT OF THE AFFAIRS OF THE CORPORATION; AND (D) HAVE THE RIGHT TO APPROVE ALL MATTERS PERTAINING TO THE AFFAIRS OF THE CORPORATION ON WHICH A VOTE OF THE MEMBERS IS REQUIRED BY THE NOT FOR PROFIT CORPORATION ACT, THE ARTICLES OF INCORPORATION, OR THESE BYLAWS, OR IS OTHERWISE DEEMED DESIRABLE BY THE BOARD OF DIRECTORS. EACH MEMBER SHALL BE ENTITLED TO ONE VOTE ON ALL MATTERS SUBMITTED TO A VOTE OF THE MEMBERS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, A DRAFT VERSION OF THE FORM 990 WILL BE REVIEWED BY THE BOARD FOLLOWING MANAGEMENT'S INTERNAL REVIEW. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST POLICY QUESTIONNAIRE IS ANNUALLY DISTRIBUTED AND COMPLETED. THE BOARD DISCUSSES ALL CONFLICTS OF INTEREST THAT ARISE, INCLUDING POTENTIAL CONFLICTS WITH NEW BOARD MEMBERS. CONFLICTS OF INTEREST WOULD BE DEALT WITH BY THE BOARD ON A CASE BY CASE BASIS AT THE TIME THAT THEY ARISE. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING THE COMPENSATION OF THE ORGANIZATION'S EXECUTIVE DIRECTOR WAS PERFORMED BY INDEPENDENT BOARD MEMBERS AND INCLUDED A COMPENSATION SURVEY WITH THE DELIBERATION AND DECISION DOCUMENTED IN THE BOARD MINUTES. THERE WERE NO OTHER COMPENSATED OFFICERS AS OF THE FISCAL YEAR END. KEY EMPLOYEE COMPENSATION IS DETERMINED BY THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 323,586. MANAGEMENT AND GENERAL EXPENSES 64,550. FUNDRAISING EXPENSES 28,356. TOTAL EXPENSES 416,492. CONTRACTUAL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 6,900. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,900. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.