Lake Technical College Inc

Analysis

Lake Technical College Inc is a registered charity in United States, based in Eustis, FL. It received its IRS tax-exemption ruling in November 2004, 22 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 2023, Lake Technical College Inc reported income of $14.8m and spending of $14.7m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.2m to $14.8m (+21%), an average of +5.0% a year. The sharpest change came in the year to June 2021, when income rose by 50%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake Technical College Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within FL. Charities of a similar size with the same main cause include Eje Academies ($14.8m), Delaware State University Foundation Inc ($14.8m) and Beekman Alumni and Friends Inc ($14.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $200k (1.4% of expenses). Other salaries and wages came to $6.3m. At year end it held assets of $23.3m against liabilities of $6.8m, net assets of $16.5m. It reported 75 employees.