Lake Oconee Academy Foundation Inc
- Assets
- $20.9m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Greensboro, GA
- Founding
- 02/2015
- Data as of
- 06/2022
- EIN
- 46-0908049
Organization Overview
Lake Oconee Academy Foundation Inc is located in Greensboro, GA. The organization was established in 2015. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Oconee Academy Foundation 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 06/2022, Lake Oconee Academy Foundation Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 45.1% each year . All expenses for the organization totaled $1.5m during the year ending 06/2022. 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
THE ORGANIZATION SUPPORTS THE LAKE OCONEE ACADEMY A PUBLIC CHARTER SCHOOL
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SUPPORTED THE CHARTER SCHOOL WITH CONTRIBUTIONS TO SUPPORT ART, ATHLETICS, MUSIC, AND THEATRE PROGRAMS.
THE ORGANIZATION CONSTRUCTED A FACILITY FOR THE BENEFIT OF THE CHARTER SCHOOL, WHICH IS LEASED TO THE SCHOOL. LEASE PAYMENTS ARE USED TO SERVICE THE DEBT USED TO BUILD THE FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ty Dickey Vice Chairman | Trustee | 1 | $0 |
Kip Dominy Board Member | Trustee | 1 | $0 |
Ansley Vinson Secretary | OfficerTrustee | 1 | $0 |
Tommy Jeffords CEO Chairman | OfficerTrustee | 1 | $0 |
Brian Quinn Treasurer | OfficerTrustee | 1 | $0 |
Marc Fordham Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $492,679 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $114,015 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $606,694 |
| Total Program Service Revenue | $874,473 |
| Investment income | $2,026 |
| 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 | $1,483,193 |
| 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 | $23,790 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $549,934 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $522,520 |
| Insurance | $3,002 |
| All other expenses | $9,725 |
| Total functional expenses | $1,529,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $461,348 |
| Savings and temporary cash investments | $133,526 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $17,729,639 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $443,729 |
| Other assets | $2,169,441 |
| Total assets | $20,937,683 |
| Accounts payable and accrued expenses | $576,099 |
| 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 | $18,321,607 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $18,897,706 |
| Net assets without donor restrictions | $1,906,451 |
| Net assets with donor restrictions | $133,526 |
| 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 | $20,937,683 |