Lake Ridge Academy
- Assets
- $13.9m
- Revenue
- $14.7m
- Investments
- $0.0
- Employees
- 128
- Location
- North Ridgeville, OH
- Founding
- 04/1965
- Data as of
- 06/2022
- EIN
- 34-6519833
Organization Overview
Lake Ridge Academy is located in North Ridgeville, OH. The organization was established in 1965. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Lake Ridge Academy employed 128 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Ridge 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, Lake Ridge Academy generated $14.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $14.3m during the year ending 06/2022. While expenses have increased by 2.7% 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
OUR MISSION IS TO SEND INTO A CHANGING WORLD CONFIDENT YOUNG PEOPLE OF INTEGRITY WHO THINK CRITICALLY AND CREATIVELY WHILE EMBRACING THE JOY OF LIFELONG LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACADEMY, FOUNDED IN 1963, IS AN INDEPENDENT CO-EDUCATIONAL COLLEGE PREPARATORY SCHOOL FOR APPROXIMATELY 406 STUDENTS IN GRADES KINDERGARTEN THROUGH TWELVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Shimko Chair | OfficerTrustee | 1 | $0 |
Benjamin P Norton Vice Chair | OfficerTrustee | 1 | $0 |
Andrea Manning Secretary | OfficerTrustee | 1 | $0 |
Laurie Gatten Treasurer | OfficerTrustee | 1 | $0 |
Albert Chan Board Member | Trustee | 1 | $0 |
Tom Dake Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $570,844 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,911,497 |
| Noncash contributions included in lines 1a–1f | $533,981 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,482,341 |
| Total Program Service Revenue | $11,803,293 |
| Investment income | $92,467 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,230 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $303,032 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,706,363 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,461,903 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $361,556 |
| Compensation of current officers, directors, key employees. | $303,707 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,711,706 |
| Pension plan accruals and contributions | $87,824 |
| Other employee benefits | $757,513 |
| Payroll taxes | $408,925 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,363 |
| Fees for services: Accounting | $23,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,666 |
| Advertising and promotion | $118,476 |
| Office expenses | $72,742 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $393,579 |
| Travel | $17,050 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $301,486 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $654,940 |
| Insurance | $106,507 |
| All other expenses | $0 |
| Total functional expenses | $14,343,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,713 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $967,024 |
| Accounts receivable, net | $272,693 |
| 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 | $176,295 |
| Net Land, buildings, and equipment | $9,384,601 |
| Investments—publicly traded securities | $2,399,902 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $649,401 |
| Total assets | $13,940,629 |
| Accounts payable and accrued expenses | $501,244 |
| Grants payable | $0 |
| Deferred revenue | $3,514,438 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $320,000 |
| Secured mortgages and notes payable | $5,969,344 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $97,382 |
| Total liabilities | $10,402,408 |
| Net assets without donor restrictions | -$666,170 |
| Net assets with donor restrictions | $4,204,391 |
| 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 | $13,940,629 |