Lake Ridge Academy
- Assets
- $14.0m
- Revenue
- $14.4m
- Investments
- $0.0
- Employees
- 125
- Location
- North Ridgeville, OH
- Founding
- 04/1965
- Data as of
- 06/2021
- 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 06/2021, Lake Ridge Academy employed 125 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 06/2021, Lake Ridge Academy generated $14.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $13.8m during the year ending 06/2021. While expenses have increased by 2.5% 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
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 420 STUDENTS IN GRADES KINDERGARTEN THROUGH TWELVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mitch White Head Of School | Officer | 40 | $203,622 |
Michelle Robertson Director Of Development | 40 | $128,904 | |
Peter Srsen C.f.o. | Officer | 40 | $126,400 |
Thomas Dresing Chair | OfficerTrustee | 1 | $0 |
Benjamin Norton Vice Chair | OfficerTrustee | 1 | $0 |
Andrea Manning Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,737,973 |
| All other contributions, gifts, grants, and similar amounts not included above | $649,559 |
| Noncash contributions included in lines 1a–1f | $31,664 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,387,532 |
| Total Program Service Revenue | $11,557,840 |
| Investment income | $93,717 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,831 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $371,965 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,431,885 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,154,054 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $357,543 |
| Compensation of current officers, directors, key employees. | $300,542 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,661,903 |
| Pension plan accruals and contributions | $78,038 |
| Other employee benefits | $707,965 |
| Payroll taxes | $387,572 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $64,973 |
| Fees for services: Accounting | $24,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,489 |
| Advertising and promotion | $153,145 |
| Office expenses | $68,512 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $405,300 |
| Travel | $19,994 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $300,839 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $653,839 |
| Insurance | $104,632 |
| All other expenses | $0 |
| Total functional expenses | $13,824,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $239,843 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $157,612 |
| Accounts receivable, net | $176,221 |
| 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 | $83,340 |
| Net Land, buildings, and equipment | $9,866,666 |
| Investments—publicly traded securities | $2,765,613 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $749,206 |
| Total assets | $14,038,501 |
| Accounts payable and accrued expenses | $782,493 |
| Grants payable | $0 |
| Deferred revenue | $3,883,065 |
| 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 | $5,091,440 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $589,332 |
| Total liabilities | $10,666,330 |
| Net assets without donor restrictions | -$503,289 |
| Net assets with donor restrictions | $3,875,460 |
| 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 | $14,038,501 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Lake Ridge Academy has recieved totaling $158,303.
| Awarding Organization | Amount |
|---|---|
Margaret A Cargill Foundation Eden Prairie, MN PURPOSE: SUPPORT FOR PLAYGROUND AND SAFETY IMPROVEMENTS | $30,000 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $30,000 |
Harding Family Charitable Trust Pittsburgh, PA PURPOSE: GENERAL OPERATING | $25,000 |
Norton Family Foundation Lorain, OH PURPOSE: CAPITAL PROJECT | $10,900 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $10,250 |
Stocker Foundation Elyria, OH PURPOSE: ANNUAL FUND | $10,000 |
Endowment Analysis
| Beg. Balance | $2,030,425 |
| Earnings | $409,660 |
| Net Contributions | $695,250 |
| Other Expense | $369,722 |
| Ending Balance | $2,765,613 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Haverford School Haverford, PA | $200,207,536 | $63,658,264 |
Goodwill Education Initiatives Inc Indianapolis, IN | $18,896,307 | $35,463,634 |
Philadelphia Independent Mission Schools Philadelphia, PA | $39,191,945 | $38,175,969 |
Friends Select School Philadelphia, PA | $35,402,509 | $21,729,714 |
Lancaster Country Day School Lancaster, PA | $75,848,302 | $20,350,115 |
Hillel Day School Of Metropolitan Detroit Farmington Hills, MI | $33,929,140 | $16,693,073 |
Freire Charter School Philadelphia, PA | $7,896,247 | $17,871,218 |
Academy In Manayunk Inc Conshohocken, PA | $64,687,092 | $23,625,839 |
Heritage Christian Schools Inc Indianapolis, IN | $19,759,630 | $19,173,955 |
Lake Ridge Academy North Ridgeville, OH | $14,038,501 | $14,431,885 |
Philadelphia School Philadelphia, PA | $27,222,839 | $15,221,018 |
Orchard School Foundation Inc Indianapolis, IN | $60,553,415 | $15,394,463 |