Lighthouse Academies
- Assets
- $3.4m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 17
- Location
- Land O Lakes, FL
- Founding
- 03/2004
- Data as of
- 06/2021
- EIN
- 20-0332375
Organization Overview
Lighthouse Academies is located in Land O Lakes, FL. The organization was established in 2004. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2021, Lighthouse Academies employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lighthouse Academies 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 06/2021, Lighthouse Academies generated $3.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.8%) each year. All expenses for the organization totaled $2.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (6.8%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF LIGHTHOUSE ACADEMIES IS TO PROMOTE EDUCATIONAL EQUITY BY PREPARING OUR SCHOLARS FOR COLLEGE, CAREER AND LIFE IN A RIGOROUS AND NURTURING ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIGHTHOUSE ACADEMIES, INC. "LIGHTHOUSE" COMPRISES A NETWORK OF 9 INNOVATIVE, PUBLIC CHARTER SCHOOL CAMPUSES IN INDIANA AND ARKANSAS, LOCATIONS WITH THE GREATEST NEED, REFLECTING THE STEEPEST CHALLENGES AND GREATEST OPPORTUNITY FOR TRANSFORMATION AND GROWTH. OUR YOUNG SCHOLARS ARE VIBRANT GIRLS AND BOYS WITH CONTAGIOUSLY INSPIRING GOALS, DREAMS, AND DEMONSTRATED HISTORIES OF THRIVING DESPITE LIVING IN AREAS KNOWN FOR TOUGH CHALLENGES INCLUDING POVERTY AND PERSISTENT COMMUNITY VIOLENCE. THE LIGHTHOUSE ACADEMIES PROGRAM ISDISTINGUISHED BY A RESTORATIVE APPROACH TO SCHOOL CULTURE AND PERSONALIZED SUCCESS COACHING FOR SCHOLARS STARTING IN SENIOR YEAR OF HIGH SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Khori Whittaker Former Ceo, President | Officer | 50 | $233,654 |
Sarah Gallagher Current CEO | Officer | 50 | $191,923 |
Jerome Ballard Former Chief Operations Officer | 50 | $155,769 | |
Jessica Beasley Senior Vice President Of A | 50 | $155,769 | |
Karin Mcguire Vice President Of Academic | 50 | $137,500 | |
Lashawnda Noel Executive Director | Officer | 50 | $126,538 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Adp Inc Hr Management | 6/29/21 | $134,036 |
Cortevo Technologies Llc Computer Technology And Support | 6/29/21 | $126,148 |
School Business Advisory Services Financial Accounting Services | 6/29/21 | $265,233 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $55,670 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $55,670 |
| Total Program Service Revenue | $2,758,627 |
| Investment income | $147,068 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,123,865 |
| 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. | $282,254 |
| Compensation of current officers, directors, key employees. | $67,666 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,183,534 |
| Pension plan accruals and contributions | $25,635 |
| Other employee benefits | $167,691 |
| Payroll taxes | $101,464 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $57,451 |
| Fees for services: Accounting | $35,647 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,366 |
| Fees for services: Other | $376,400 |
| Advertising and promotion | $114,408 |
| Office expenses | $44,259 |
| Information technology | $132,696 |
| Royalties | $0 |
| Occupancy | $107,363 |
| Travel | $18,752 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $61,124 |
| All other expenses | $0 |
| Total functional expenses | $2,873,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,872,733 |
| Savings and temporary cash investments | $670 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $208,866 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $213,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $110,680 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,020,264 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,426,213 |
| Accounts payable and accrued expenses | $133,786 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $1,729,437 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,863,223 |
| Net assets without donor restrictions | $1,562,990 |
| Net assets with donor restrictions | $0 |
| 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 | $3,426,213 |
Grants Awarded
Over the last fiscal year, Lighthouse Academies has awarded $878,632 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTHWEST DETROIT LIGHTHOUSE CHARTE PURPOSE: DEBT FORGIVENESS | $380,128 |
LIGHTHOUSE ACADEMIES OF OKLAHOMA CI PURPOSE: DEBT FORGIVENESS | $314,583 |
Chicago, IL PURPOSE: DEBT FORGIVENESS | $146,356 |
Wesley Chapel, FL PURPOSE: DEBT FORGIVENESS | $37,565 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lighthouse Academies has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Early Learning Coalition Of Floridas Heartland Inc Port Charlotte, FL | $2,212,537 | $18,405,437 |
Early Learning Coalition Of Okaloosa And Walton Counties Inc Shalimar, FL | $1,559,642 | $16,151,395 |
University Of North Georgia Foundation Inc Dahlonega, GA | $101,168,345 | $9,379,486 |
Usf Financing Corporation Tampa, FL | $387,045,696 | $13,998,407 |
Drs Kiran & Pallavi Patel 2017 Foundation For Global Understandin Tampa, FL | $0 | -$8,161,100 |
Southern Assoc Of Colleges And Schools Commission On Colleges Inc Decatur, GA | $21,107,199 | $13,477,936 |
White Hall Enrichment Advancement Team Hayneville, AL | $52,157 | $11,823,582 |
A Gift For Teaching Inc Orlando, FL | $5,328,629 | $9,022,570 |
Ninja Academy Incorporated Hollywood, FL | $2,893,530 | $10,861,940 |
Hillsborough Education Foundation Inc Tampa, FL | $10,731,665 | $10,065,447 |
The Cottage School Educational Resource Center Inc Roswell, GA | $19,413,651 | $9,463,796 |
Slam Foundation Inc Miami, FL | $8,480,329 | $6,817,017 |