East Lake Academy
- Assets
- $4.7m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 28
- Location
- Lake Forest, IL
- Founding
- 06/2002
- Data as of
- 06/2023
- EIN
- 04-3619566
Organization Overview
East Lake Academy is located in Lake Forest, IL. The organization was established in 2002. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2023, East Lake Academy employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Lake 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 06/2023, East Lake Academy generated $1.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $1.8m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CATHOLIC ELEMENTARY EDUCATION TO STUDENTS IN THE LAKE FOREST, ILLINOIS AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING CATHOLIC ELEMENTARY EDUCATION TO APPROXIMATELY 150 STUDENTS IN THE LAKE FOREST, ILLINOIS AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Calk President | OfficerTrustee | 6 | $0 |
Daniel Christoffel Treasurer | OfficerTrustee | 6 | $0 |
John Murphy Director | Trustee | 1 | $0 |
Jon Budke Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $321,551 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $76,823 |
| Noncash contributions included in lines 1a–1f | $32,506 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $398,374 |
| Total Program Service Revenue | $1,132,094 |
| Investment income | $2,138 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $180,651 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,713,257 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,111,113 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $72,707 |
| Payroll taxes | $79,501 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,574 |
| Advertising and promotion | $16,450 |
| Office expenses | $20,031 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,379 |
| Travel | $1,042 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $59,612 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $168,143 |
| Insurance | $8,174 |
| All other expenses | $14,856 |
| Total functional expenses | $1,810,248 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $340,229 |
| Savings and temporary cash investments | $415,434 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,255 |
| 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 | $6,666 |
| Net Land, buildings, and equipment | $3,911,372 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,678,956 |
| Accounts payable and accrued expenses | $9,595 |
| Grants payable | $0 |
| Deferred revenue | $106,740 |
| 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 | $1,287,710 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,404,045 |
| Net assets without donor restrictions | $3,174,911 |
| Net assets with donor restrictions | $100,000 |
| 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 | $4,678,956 |