East Lake Academy
- Assets
- $4.9m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 28
- Location
- Lake Forest, IL
- Founding
- 06/2002
- Data as of
- 06/2022
- EIN
- 04-3619566
Organization Overview
East Lake Academy is located in Lake Forest, IL. The organization was established in 2002. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, East Lake Academy employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Lake Academy is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, East Lake Academy generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $1.7m during the year ending 06/2022. While expenses have increased by 0.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CATHOLIC ELEMENTARY EDUCATION TO STUDENTS IN THE LAKE FOREST, ILLINOIS AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING CATHOLIC ELEMENTARY EDUCATION TO APPROXIMATELY 150 STUDENTS IN THE LAKE FOREST, ILLINOIS AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Calk President | OfficerTrustee | 6 | $0 |
Daniel Christoffel Treasurer | OfficerTrustee | 6 | $0 |
John Murphy Director | Trustee | 1 | $0 |
Jon Budke Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $179,119 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $116,409 |
| Noncash contributions included in lines 1a–1f | $55,756 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $295,528 |
| Total Program Service Revenue | $1,163,342 |
| Investment income | $67 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,059 |
| Net Income from Fundraising Events | $434,989 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,895,290 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,027,411 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $67,566 |
| Payroll taxes | $73,222 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,795 |
| Advertising and promotion | $18,218 |
| Office expenses | $19,132 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,078 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $63,702 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $165,716 |
| Insurance | $1,689 |
| All other expenses | $9,517 |
| Total functional expenses | $1,682,395 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $510,164 |
| Savings and temporary cash investments | $381,066 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,342 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,420 |
| Net Land, buildings, and equipment | $3,968,583 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,873,575 |
| Accounts payable and accrued expenses | $9,608 |
| Grants payable | $0 |
| Deferred revenue | $110,191 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,381,873 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1 |
| Total liabilities | $1,501,673 |
| Net assets without donor restrictions | $3,251,902 |
| Net assets with donor restrictions | $120,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,873,575 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that East Lake Academy has recieved totaling $17,336.
| Awarding Organization | Amount |
|---|---|
Westerman Foundation Tampa, FL PURPOSE: GENERAL SUPPORT | $12,000 |
Helen Brach Foundation Chicago, IL PURPOSE: TO SUPPORT THE COMPLETION OF A NEW CLASSROOM AND OUTDOOR RECREATION SPACE FOR AN EXPANDING ENROLLMENT | $5,000 |
Northrop Grumman Foundation Falls Church, VA PURPOSE: GENERAL OPERATING GRANTS & MATCHING GIFTS. | $250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $86 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Chicago Charter School Corporation Chicago, IL | $14,482,747 | $19,743,627 |
Hope Educational & Research Center St Louis, MO | $196,443,117 | $45,382,338 |
Louisville Collegiate School Louisville, KY | $44,243,091 | $19,424,992 |
Canterbury School Inc Fort Wayne, IN | $14,789,368 | $17,058,422 |
Timothy Christian Schools Elmhurst, IL | $41,280,764 | $20,446,601 |
Kentucky Country Day School Inc Louisville, KY | $45,327,857 | $17,940,550 |
Milwaukee Science Education Consortium Inc Milwaukee, WI | $22,408,763 | $18,701,164 |
Prairie School Inc Racine, WI | $75,801,246 | $20,722,980 |
Sayre School Lexington, KY | $37,948,520 | $16,925,718 |
Lexington Christian Academy Inc Lexington, KY | $37,177,484 | $18,280,442 |
Lake Forest Country Day School Lake Forest, IL | $60,294,395 | $16,845,171 |
Indian Community School Inc Franklin, WI | $820,604,355 | $21,906,582 |