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Leo Inc

EIN 04-2378885 · Lynn, MA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair55 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

LEO INC.'S MISSION IS TO STRENGTHEN THE GREATER LYNN COMMUNITY THROUGH RESOURCES AND SERVICES THAT PROVIDE OPPORTUNITIES FOR CHILDREN, FAMILIES AND INDIVIDUALS TO THRIVE.

Income
$16.9 million
Spending
$13.9 million
Spent on programs
88%
Reserves
-6.4 months of spending
Largest source of income
government grants, 91%
Employees
144
Volunteers
270
Highest pay
$224,443, chief executive officer

Source: Form 990 for the year ending September 30, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 55 out of 100. Higher than 36% of charities in its peer group (human services, $10m to $100m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    10 of 20

    It owes 31% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 18% of income.

  • Income trend

    15 of 15

    Income rose 12% on the year before.

  • Spending floor

    15 of 15

    88% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending September 30, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 35% of charities in its peer group (human services, $10m to $100m).

  • Independent board

    25 of 25

    13 of 13 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending September 30, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $6.9 million spent. EARLY CHILDHOOD EDUCATION SERVICES INCLUDE HEAD START (AGES 3-5) AND EARLY HEAD START (AGES 6 WEEKS-3 YEARS) SERVICES IN LYNN. EARLY HEAD START INCLUDES A HOME-BASED COMPONENT AND ALSO SERVES WOMEN WHO ARE PREGNANT, UP TO AND BEYOND DELIVERY. IN THE PAST YEAR, LEO HAD 450 CHILDREN ENROLLED IN ITS PROGRAMS, WHICH ARE BASED ON A COMPREHENSIVE SCHOOL READINESS CURRICULUM, NUTRITIONAL AND WELLNESS GOALS, HEALTH ASSESSMENTS, AND BEHAVIORAL AND MENTAL HEALTH SUPPORT.
  2. $4.5 million spent. LEO INC. PROVIDES FUEL ASSISTANCE THROUGH THE MASSACHUSETTS HOME ENERGY ASSISTANCE PROGRAM (HEAP), WHICH PROTECTS ELIGIBLE LOW-INCOME HOUSEHOLDS FROM THE HIGH COST OF HOME HEATING. ELIGIBILITY. BENEFITS ARE BASED ON FAMILY SIZE AND INCOME. ANNUALLY, LEO SERVES APPROXIMATELY 3,500 HOUSEHOLDS AND MORE THAN 7,500 INDIVIDUALS. THE MAJORITY OF HOUSEHOLDS SERVED INCLUDE A CHILD UNDER THE AGE OF 5, A RESIDENT AGE 60 OR OLDER, AND/OR AN INDIVIDUAL WITH DISABILITIES.
  3. $834,690 spent. LEO'S COMMUNITY SERVICE PROGRAM INCLUDES SERVICES TO STABILIZE INDIVIDUALS FACING FINANCIAL EMERGENCIES AS A RESULT OF POVERTY. WITHIN THIS PROGRAM, LEO'S VOLUNTEER INCOME TAX ASSISTANCE (VITA) PROGRAM FILED 184 TAX RETURNS FOR 120 ELIGIBLE CLIENTS, WHO CLAIMED TAX CREDITS RESULTING IN $334,000 IN REFUNDS, MONEY THAT WAS REINVESTED INTO THE COMMUNITY.

Source: Form 990 for the year ending September 30, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending September 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since September 1967.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.