Lake Erie College of Osteopathic Medicine Inc

Analysis

Lake Erie College of Osteopathic Medicine Inc is a registered charity in United States, based in Erie, PA. It received its IRS tax-exemption ruling in February 1994, 32 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 Erie College of Osteopathic Medicine Inc reported income of $201.5m and spending of $121.2m, leaving 40% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $170.7m to $201.5m (+18%), an average of +4.2% a year. The sharpest change came in the year to June 2021, when income rose by 25%. Over the whole period it spent 56% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake Erie College of Osteopathic Medicine Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 99th percentile within PA. Charities of a similar size with the same main cause include St Lawrence University ($200.6m), Trustees of Union College ($201.6m) and University of Florida Foundation Inc ($200.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.6% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $3.3m (2.7% of expenses). Other salaries and wages came to $37.2m. At year end it held assets of $961.8m against liabilities of $118.6m, net assets of $843.2m. It reported 883 employees.