The Lincoln Academy
- Assets
- $45.5m
- Revenue
- $14.7m
- Investments
- $0.0
- Employees
- 96
- Location
- Beloit, WI
- Founding
- 11/2019
- Data as of
- 06/2023
- EIN
- 84-3568463
Organization Overview
The Lincoln Academy is located in Beloit, WI. The organization was established in 2019. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2023, Lincoln Academy employed 96 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lincoln 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, Lincoln Academy generated $14.7m in total revenue. All expenses for the organization totaled $9.4m during the year ending 06/2023.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF THE LINCOLN ACADEMY, A PUBLIC (4K-12) CHARTER SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LINCOLN ACADEMY EDUCATED OVER 500 SCHOLARS DURING THE SECOND EDUCATIONAL SCHOOL YEAR 2022-2023. OUR THREE PILLARS OF ACADEMIC RIGOR, CHARACTER DEVELOPMENT AND CAREER EXPLORATION CAME TO LIFE. OUR SCHOLARS ACHIEVED STRONG ACADEMIC GROWTH BY EVIDENCE OF SPRING MAP RESULTS. CAREER EXPLORATION HAD 99% OF K5-3 AND 6-10 GRADE SCHOLARS COMPLETED XELLO CAREER CURRICULUM LESSONS, 98% OF SCHOLARS IN 8TH GRADE PRESENTED THEIR INDIVIDUALIZED LEARNING PLAN, SIX DUAL CREDIT AND 160 BUSINESS PARTNERSHIPS SUPPORTED CAREER EXPLORATION AND 3000 SERVICE LEARNING HOURS WERE LOGGED BY SCHOLARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Furseth Chairperson | OfficerTrustee | 3 | $0 |
Diane Hendricks Secretary | OfficerTrustee | 1 | $0 |
David Mccoy Treasurer | OfficerTrustee | 1 | $0 |
Miguel Guzman Director | Trustee | 1 | $0 |
Darian Snow Director | Trustee | 1 | $0 |
Joe Stadelman Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Durham School Services Transportation Of Scholars | 6/29/23 | $335,278 |
Corporate Contractors Construction | 6/29/23 | $421,709 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $19,494 |
| Related organizations | $0 |
| Government grants | $6,243,296 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,467,695 |
| Noncash contributions included in lines 1a–1f | $25,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,730,485 |
| Total Program Service Revenue | $0 |
| Investment income | $10,756 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,830 |
| Net Income from Fundraising Events | -$1,110 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,742,961 |
| 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. | $476,428 |
| Compensation of current officers, directors, key employees. | $476,428 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,204,521 |
| Pension plan accruals and contributions | $179,897 |
| Other employee benefits | $653,350 |
| Payroll taxes | $337,763 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,958 |
| Fees for services: Accounting | $13,000 |
| Fees for services: Lobbying | $48,954 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,083,397 |
| Advertising and promotion | $0 |
| Office expenses | $255,760 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $377,585 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,083,225 |
| Insurance | $74,146 |
| All other expenses | $95,073 |
| Total functional expenses | $9,428,502 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,056,450 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $346,227 |
| Accounts receivable, net | $26,481 |
| 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 | $118,653 |
| Net Land, buildings, and equipment | $43,940,938 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $45,488,749 |
| Accounts payable and accrued expenses | $1,497,489 |
| 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 | $1,497,489 |
| Net assets without donor restrictions | $43,991,260 |
| 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 | $45,488,749 |