Lakes International Language Academy
- Assets
- $12.2m
- Revenue
- $15.7m
- Investments
- $0.0
- Employees
- 337
- Location
- Forest Lake, MN
- Founding
- 08/2004
- Data as of
- 06/2021
- EIN
- 20-0393839
Organization Overview
Lakes International Language Academy is located in Forest Lake, MN. The organization was established in 2004. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2021, Lakes International Language Academy employed 337 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakes International Language 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 06/2021, Lakes International Language Academy generated $15.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $16.0m during the year ending 06/2021. While expenses have increased by 10.9% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PREPARE TOMORROW'S CRITICAL THINKERS AND GLOBAL CITIZENS THROUGH LANGUAGE ACQUISITION AND INQUIRY-DRIVEN STUDY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
K-12 PUBLIC SCHOOL. THE SCHOOL HAS COMPLETED ITS 17TH YEAR OF OPERATION. IT BEGAN AS A K-6 SCHOOL, ADDING GRADES 7-8 IN 2015 AND GRADES 9-12 IN FALL 2016. THE SCHOOL SERVES STUDENTS AT THREE SITES. KINDER CENTER HOUSES PRE-K AND K; LOWER SCHOOL HOUSES GRADES 1-5; UPPER SCHOOL HOUSES GRADES 6-12. K-12 STUDENT ENROLLMENT TOTALED 1,226 IN MAY 2021, AN INCREASE OF 39 STUDENTS OVER THE MAY 2020. THE INTERNATIONAL BACCALAUREATE ORGANIZATION HAS AUTHORIZED LILA AS AN IB WORLD SCHOOL FOR ALL GRADES. AUTHORIZATION OCCURS AFTER A THREE-YEAR CANDIDACY PROCESS FOR EACH LEVEL: PRIMARY YEARS PROGRAMME FOR GRADES PRE-K TO 5, MIDDLE YEARS PROGRAMME FOR GRADES 6-10, AND DIPLOMA PROGRAMME FOR GRADES 11-12. AUTHORIZATION ONLY RESULTS WHEN A SCHOOL HAS BUILT AND IMPLEMENTED ITS IB PROGRAMME CURRICULUM TO EXACTING STANDARDS. THE SCHOOL OFFERS MANDARIN CHINESE IMMERSION AND SPANISH IMMERSION TRACKS TO GRADE 5. UPPER SCHOOL STUDENTS HAVE LANGUAGE ACQUISITION AS A FOCUS, BUT THE CURRICULUM IS NOT FULL IMMERSION. INSTEAD IT IS MEANT FOR NEW LANGUAGE LEARNERS AS WELL AS FOR IMMERSION STUDENTS WHO HAVE BEEN THROUGH THE LOWER SCHOOL PROGRAM OR COME TO LILA FROM ANOTHER IMMERSION SCHOOL. LILA GRADUATES TYPICALLY EARN THE STATE'S BILINGUAL SEAL ON THEIR DIPLOMAS. THE SCHOOL HAS GRADUATION RATES SURPASSING 95%.
COMMUNITY SERVICE PROGRAM, KINDER PREP PRESCHOOL (PRE-K). ALL LILA COMMUNITY SERVICE PROGRAMS ARE FEE-BASED AND DO NOT RECEIVE STATE FUNDING. KINDER PREP PRESCHOOL OPENED IN FALL 2013 TO SERVE STUDENTS AGED 3-5. THE KINDER PREP CURRICULUM REFLECTS THE IB WHOLE-CHILD PHILOSOPHY AND HAS A RICH LANGUAGE COMPONENT, WITH TEACHERS SPEAKING CHINESE, SPANISH, AND ENGLISH TO ALL PARTICIPANTS. ABOUT 106 STUDENTS WERE ENROLLED DURING THE 2020-2021 SCHOOL YEAR. LICENSED BILINGUAL TEACHERS PARTNER WITH CLASSROOM AIDES TO DELIVER ACADEMIC AND SOCIAL-EMOTIONAL EDUCATION, PREPARING STUDENTS FOR KINDERGARTEN AND BEYOND.
COMMUNITY SERVICE PROGRAM, EXPLORER CLUB SCHOOL AGE CARE. LILA'S EXPLORER CLUB SCHOOL AGE CHILDCARE PROGRAM IS A FOR-FEE PROGRAM THAT SERVED APPROX. 200 STUDENTS THROUGHOUT THE FISCAL YEAR. THE PROGRAM EMPLOYEES ENHANCE STUDENTS' EXPOSURE TO SPANISH & CHINESE LANGUAGE AS THEY CONDUCT THEIR PROGRAM IN SPANISH, CHINESE, AND ENGLISH. THE PROGRAM IS LOCATED AT KINDER CENTER AND LOWER SCHOOL BUILDINGS AND SERVES GRADES PRE-K TO 5.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shannon Peterson Executive Director | 60 | $143,343 | |
Teng Xu Board Member | Trustee | 41 | $52,648 |
Francesca Massana Pedrell Board Member | Trustee | 41 | $51,627 |
Erin Maher Board Member | Trustee | 41 | $50,290 |
Jessie Sheldon Board Secretary | OfficerTrustee | 2 | $49,787 |
Jennifer May Board Vice-Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Split Rock Management Inc Custodial Cleaning Services At All 3 Sch | 6/29/21 | $114,628 |
Mcgough Contruction Co Llc Add Orchestra Pit To Performing Arts Cen | 6/29/21 | $134,201 |
Reach Communications Inc Add Audio/visual/lights To Performing Ar | 6/29/21 | $156,648 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,544,993 |
| All other contributions, gifts, grants, and similar amounts not included above | $144,350 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,689,343 |
| Total Program Service Revenue | $11,032,446 |
| Investment income | $22,800 |
| 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 | $15,744,589 |
| 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. | $229,788 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,286,436 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,130,228 |
| Payroll taxes | $0 |
| Fees for services: Management | $26,268 |
| Fees for services: Legal | $1,611 |
| Fees for services: Accounting | $62,436 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,571,902 |
| Advertising and promotion | $0 |
| Office expenses | $542,186 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,307,691 |
| Travel | $0 |
| 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 | $74,198 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $15,973,085 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,234,844 |
| Savings and temporary cash investments | $2,042,303 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,002,543 |
| 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 | $192,323 |
| Net Land, buildings, and equipment | $743,660 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,972,938 |
| Total assets | $12,188,611 |
| Accounts payable and accrued expenses | $1,685,844 |
| Grants payable | $0 |
| Deferred revenue | $21,900 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,541,324 |
| Total liabilities | $15,249,068 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | -$4,657,731 |
| Paid-in or capital surplus, or land, building, or equipment fund | $743,660 |
| Retained earnings, endowment, accumulated income, or other funds | $853,614 |
| Total liabilities and net assets/fund balances | $12,188,611 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Lakes International Language Academy has recieved totaling $116,449.
| Awarding Organization | Amount |
|---|---|
Paul And Suzanne Hanifl Foundation Chicago, IL PURPOSE: GENERAL CHARITABLE PURPOSES | $100,000 |
Think Small Saint Paul, MN PURPOSE: SCHOLARSHIP | $8,512 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,585 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,352 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hmong Academy St Paul, MN | $37,890,238 | $35,478,590 |
Carmen High School Of Science And Technology Inc Milwaukee, WI | $26,487,634 | $24,006,774 |
Lionsgate Academy Minnetonka, MN | $8,728,304 | $20,147,818 |
Seeds Of Health Milwaukee, WI | $21,433,274 | $18,248,715 |
Twin Cities International Schools Minneapolis, MN | $10,477,770 | $17,272,708 |
Eagle Ridge Academy Minnetonka, MN | $14,507,492 | $16,854,949 |
Lakes International Language Academy Forest Lake, MN | $12,188,611 | $15,744,589 |
Parnassus Preparatory School Maple Grove, MN | $11,987,253 | $16,239,729 |
Hmong American Peace Academy Ltd Milwaukee, WI | $62,055,663 | $22,180,285 |
Seven Hills Preparatory Academy Bloomington, MN | $12,008,176 | $15,420,403 |
St Croix Preparatory Academy Stillwater, MN | $15,400,325 | $14,730,120 |
Athlos Leadership Academy Brooklyn Park, MN | $8,310,126 | $14,353,758 |