Lake Oconee Academy Inc
- Assets
- $11.1m
- Revenue
- $14.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Greensboro, GA
- Founding
- 03/2008
- Data as of
- 06/2021
- EIN
- 26-0385375
Organization Overview
Lake Oconee Academy Inc is located in Greensboro, GA. The organization was established in 2008. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Oconee Academy 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 Oconee Academy Inc generated $14.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $11.8m during the year ending 06/2021. While expenses have increased by 13.1% 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
THE MISSION OF THE CHARTER SCHOOL IS TO INCREASE STUDENT ACHIEVEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES A PUBLIC CHARTER SCHOOL AUTHORIZED BY THE GREENE COUNTY BOARD OF EDUCATION AND THE STATE OF GEORGIA DEPARTMENT OF EDUCATION.
THE ORGANIZATION OPERATES A PRE-K PROGRAM THROUGH THE STATE OF GEORGIA BRIGHT FROM THE START PROGRAM.
THE ORGANIZATION OPERATES AN AFTERSCHOOL PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Otho B Tucker CEO | Officer | 40 | $243,344 |
Richard Schmidt Secretary | OfficerTrustee | 1 | $0 |
Timothy C Hong CFO | Officer | 1 | $0 |
Mark Lipscomb Chairman | Trustee | 1 | $0 |
Kim Larkin Board Member | Trustee | 1 | $0 |
Kristina Jaskyte Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Deluxe Athletics Llc Construction Project | 6/29/21 | $713,109 |
Patsy Norrington Cleaning Janitorial Services | 6/29/21 | $368,724 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,753,425 |
| All other contributions, gifts, grants, and similar amounts not included above | $80,778 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,834,203 |
| Total Program Service Revenue | $12,654,469 |
| Investment income | $18,733 |
| 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 | $14,507,405 |
| 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. | $243,344 |
| Compensation of current officers, directors, key employees. | $243,344 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,234,849 |
| Pension plan accruals and contributions | $1,187,263 |
| Other employee benefits | $1,134,824 |
| Payroll taxes | $441,899 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,885 |
| Fees for services: Accounting | $19,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $102,212 |
| Advertising and promotion | $0 |
| Office expenses | $14,623 |
| Information technology | $35,842 |
| Royalties | $0 |
| Occupancy | $1,616,308 |
| Travel | $23,150 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,100 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $270,999 |
| Insurance | $79,603 |
| All other expenses | $0 |
| Total functional expenses | $11,786,512 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,559,781 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $117,894 |
| 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 | $171,944 |
| Net Land, buildings, and equipment | $4,246,571 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,096,190 |
| Accounts payable and accrued expenses | $2,472,271 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,472,271 |
| Net assets without donor restrictions | $8,623,919 |
| 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 | $11,096,190 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Lake Oconee Academy Inc has recieved totaling $38,319.
| Awarding Organization | Amount |
|---|---|
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $12,000 |
American Gift Fund Wilmington, DE PURPOSE: OPERATIONS | $11,500 |
Mitchell Foundation Inc Mobile, AL PURPOSE: PROGRAM COSTS | $10,000 |
Ritchey Family Foundation Inc Miami, FL PURPOSE: GENERAL PURPOSE | $4,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $319 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Doral Academy Inc Miami, FL | $78,216,564 | $49,667,670 |
Lake Wales Charter Schools Lake Wales, FL | $35,506,108 | $45,984,784 |
Drew Charter School Inc Atlanta, GA | $34,692,137 | $41,952,542 |
North Carolina Charter Educational Foundation Inc Mooresville, NC | $93,431,533 | $35,029,413 |
River City Education Services Jacksonville, FL | $97,321,758 | $40,759,077 |
Lead Public Schools Inc Nashville, TN | $24,033,254 | $42,742,487 |
Kipp Nashville Nashville, TN | $80,824,528 | $47,985,945 |
Georgia Connections Academy Charter School Inc Duluth, GA | $22,514,475 | $38,349,918 |
Mater Academy Central Inc Kissimmee, FL | $56,599,415 | $27,041,064 |
Kindezi School Inc Atlanta, GA | $19,750,427 | $21,363,051 |
Discovery Education Services Inc Orlando, FL | $22,168,948 | $29,305,548 |
Floridians For Quality Virtual Education Inc Tampa, FL | $7,270,958 | $27,629,122 |