LEAP ACADEMY CHARTER SCHOOL
Mission Statement
The Rutgers University Alfredo Santiago Endowed Scholarship was established in 1999 by CLC Director Dr. Gloria Bonilla-Santiago in loving memory of her husband Alfredo Santiago and with the goal to increase the number of children in Camden who attend college. Since 2005 the Alfredo Santiago Scholarship has made it possible for over 184 students from Camden to attend college. In a city where only 5.5% of adults hold a bachelor’s or professional degree and only 51% hold a high school diploma, there is an urgent need for greater access to and greater affordability of higher education for Camden youth. Each year we have a Fundraising Gala to raise funds to send the students of LEAP to college. This year, our Gala will be held at The Curtis Center in Philadelphia on Friday, December 3, 2021. We are in need of auction items that will entice our guests. The COVID-19 coronavirus pandemic is having a profound impact on low-income communities of color, and our students are confronted with myriad economic, social, and educational challenges exacerbated by the public health emergency. Now more than ever, we are committed to supporting our LEAP graduates on their paths to a college education. These challenges make our upcoming Rutgers Alfredo Santiago Scholarship Fundraising Gala a top priority. As a new class of LEAP seniors enters Rutgers University this fall to join the 48 LEAP alumni who will return for another year, we assure them that their college aspirations are unaffected by this relentless virus. Your support at this time is critical. Help us continue to ensure that costs are not a barrier to higher education for youth from Camden, NJ. You can view our website here: https://www.leapacademycharter.org
Financial Overview — FY 2023
Compared with Peers
FY 2023| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
82.5% | 84.4% |
P10P90
|
Below median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
17.5% | 13.5% |
P10P90
|
Below median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
0.0% | 0.7% |
P10P90
|
Top quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
8.0 mo | 10.9 mo |
P10P90
|
Below median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
66.4% | 34.2% |
P10P90
|
Bottom quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
92.2% | 87.3% |
P10P90
|
Below median |
|
Revenue growth
Year over year revenue growth
|
9.1% | 4.8% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
9.6% | 8.5% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
19.5% | 2.7% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2023 | $35.4M | $28.5M | $18.9M | 82.5% | 302 |
| 2022 | $32.4M | $26.0M | $12.0M | 80.5% | 286 |
| 2021 | $26.8M | $24.8M | N/A | — | 271 |
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