East Lake Academy

Analysis

East Lake Academy is a registered charity in United States, based in Lake Forest, IL. It received its IRS tax-exemption ruling in June 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, East Lake Academy reported income of $2.0m and spending of $1.9m, spending 97% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.6m to $2.0m (+26%), an average of +4.7% a year. The sharpest change came in the year to June 2021, when income rose by 29%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, East Lake Academy sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within IL. Charities of a similar size with the same main cause include Lake Area Technical College Foundation ($2.0m), Northern California Valley Sheet Metal Industry Joint Apprenticeshi ($2.0m) and Wisconsin School of Professional Psychology Inc ($2.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 24% and program service revenue 66% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $4.6m against liabilities of $1.3m, net assets of $3.3m. It reported 27 employees.