Lake Erie College Of Osteopathic Medicine Inc

Organization Overview

Lake Erie College Of Osteopathic Medicine Inc is located in Erie, PA. The organization was established in 1994. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2021, Lake Erie College Of Osteopathic Medicine Inc employed 926 individuals. This organization is the central organization for a national or regional group of organizations. Lake Erie College Of Osteopathic Medicine Inc 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, Lake Erie College Of Osteopathic Medicine Inc generated $203.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $105.2m during the year ending 06/2021. While expenses have increased by 4.3% 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.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE (LECOM) IS TO PREPARE STUDENTS TO BECOME OSTEOPATHIC PHYSICIANS, PHARMACY PRACTITIONERS AND DENTISTS THROUGH PROGRAMS OF EXCELLENCE IN EDUCATION, RESEARCH, CLINICAL CARE, AND COMMUNITY SERVICES TO ENHANCE THE QUALITY OF LIFE THROUGH IMPROVED HEALTH FOR ALL HUMANITY.

Describe the Organization's Program Activity:

LECOM IS ONE OF THE 34 COLLEGES OF OSTEOPATHIC MEDICINE. IN 1992, THE LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE RECEIVED PRE-ACCREDITATION STATUS FROM THE AMERICAN OSTEOPATHIC ASSOCIATION. AFTER FURTHER PREPARATION, LECOM ACHIEVED A CHARTER FROM THE COMMONWEALTH OF PENNSYLVANIA AND FULL ACCREDITATION STATUS WITH THE AMERICAN COUNCIL ON PHARMACEUTICAL EDUCATION. IT IS ONE OF OVER 140 PHARMACY SCHOOLS IN THE UNITED STATES. LECOM HAS INITIAL ACCREDITATION STATUS WITH THE AMERICAN DENTAL ASSOCIATION'S COMMISSION ON DENTAL ACCREDITATION. IT IS ONE OF 66 DENTAL SCHOOLS IN THE UNITED STATES. THE GOAL OF LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE IS TO EDUCATE QUALIFIED STUDENTS TO BECOME OSTEOPATHIC PHYSICIANS IMBUED WITH THE PHILOSOPHICAL PRINCIPLES OF OSTEOPATHIC MEDICINE. IT IS THE STATED PURPOSE OF THE COLLEGE TO EDUCATE AND DEVELOP FAMILY PHYSICIANS IN THE OSTEOPATHIC TRADITION. AT THE SAME TIME, IT PROPOSES TO PROVIDE ITS STUDENTS WITH FIRM ACADEMIC BACKGROUND SO THAT THOSE WHO WISH MAY ADVANCE FURTHER INTO THE OSTEOPATHIC SPECIALTIES OR ACADEMIC CAREERS, PARTICULARLY FOR AND WITH OSTEOPATHIC COLLEGES. THE GOAL OF THE SCHOOL OF PHARMACY AND SCHOOL OF DENTAL MEDICINE IS TO PREPARE PHARMACY AND DENTAL PROFESSIONALS WHO ARE COMMITTED TO PROVIDE HIGH-QUALITY, ETHICAL, AND EMPATHETIC PATIENT-CENTERED CARE TO SERVE THE NEEDS OF A DIVERSE POPULATION.THREE ACADEMIC DOCTORAL DEGREES ARE CURRENTLY CONFERRED AT LECOM. THE DOCTOR OF OSTEOPATHY (DO), THE DOCTOR OF PHARMACY, AND THE DOCTOR OF DENTAL MEDICINE ARE AWARDED TO GRADUATES WHO HAVE SATISFACTORILY FULFILLED THE REQUIREMENTS FOR GRADUATION. THE FIRST MEDICAL CLASSES BEGAN ON AUGUST 9, 1993 AND 61 STUDENTS ENROLLED. THE COLLEGE BEGAN A SCHOOL OF PHARMACY IN THE FALL OF 2002. FIRST CLASSES FOR THE SCHOOL OF DENTAL MEDICINE BEGAN IN AUGUST, 2012. FOR THE FISCAL YEAR ENDED JUNE 30, 2021, THERE WERE OVER 4,200 MEDICAL, PHARMACY, DENTAL, POST-BACCALAUREATE, AND MASTERS STUDENTS ENROLLED. THE COLLEGE HAS THREE CAMPUSES: ERIE, PENNSYLVANIA, GREENSBURG, PENNSYLVANIA, AND BRADENTON, FLORIDA.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Hueber-breuer Construction Co
Construction Services
$2,224,054
Vantage Emcom Ltd
Contracted Services
$2,119,368
Networking Technologies
Contracted Services
$499,629
Jas Management
Consulting Services
$959,229
Kingsview Enterprises Inc
Contracted Services
$518,677
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $14,295,278
All other contributions, gifts, grants, and similar amounts not included above$13,063,326
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$27,358,604
Total Program Service Revenue$146,195,729
Investment income $8,824,718
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $428,665
Net Gain/Loss on Asset Sales $13,750,758
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $202,994,752

Grants Recieved

Over the last fiscal year, we have identified 12 grants that Lake Erie College Of Osteopathic Medicine Inc has recieved totaling $424,827.

Awarding OrganizationAmount
National Association For The Exchange Of Industrial Resources I

Galesburg, IL

PURPOSE: CARE OF ILL, NEEDY, OR MINOR

$137,623
Erie Community Foundation

Erie, PA

PURPOSE: VARIOUS PROJECTS

$119,981
Pga Tour Inc

Ponte Vedra Beach, FL

PURPOSE: GENERAL SUPPORT

$76,000
Pittsburgh Foundation

Pittsburgh, PA

PURPOSE: STUDENT SERVICES

$22,465
Orris C & Beatrice Dewey Mem Fnd

Pittsburgh, PA

PURPOSE: SCHOLARSHIP

$20,000
Thrivent Charitable Impact & Investing

Appleton, WI

PURPOSE: SCHOLARSHIPS

$15,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$3,562,616
Net Contributions$1,313,819
Other Expense$3,231
Grants$402,058
Ending Balance$4,471,146

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