Lake Oconee Academy Inc

Analysis

Lake Oconee Academy Inc is a registered charity in United States, based in Greensboro, GA. It received its IRS tax-exemption ruling in March 2008, 18 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 Oconee Academy Inc reported income of $16.5m and spending of $14.9m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.0m to $16.5m (+49%), an average of +10% a year. The sharpest change came in the year to June 2023, when income rose by 28%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake Oconee Academy 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 97th percentile, and in the 97th percentile within GA. Charities of a similar size with the same main cause include California Alumni Association ($16.4m), Redwood Day School ($16.5m) and Mastery Charter School - Shoemakercampus ($16.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.8% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $418k (2.8% of expenses). Other salaries and wages came to $7.1m. At year end it held assets of $33.8m against liabilities of $24.8m, net assets of $9.0m.