Lake Ridge Academy

Analysis

Lake Ridge Academy is a registered charity in United States, based in N Ridgeville, OH. It received its IRS tax-exemption ruling in April 1965, 61 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, Lake Ridge Academy reported income of $9.5m and spending of $11.6m, spending 123% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $13.0m to $9.5m (-27%), an average of -6.2% a year. The sharpest change came in the year to June 2024, when income dropped by 28%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake Ridge Academy sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within OH. Charities of a similar size with the same main cause include Renaissance Arts Academy ($9.5m), Lake Area Discovery Center ($9.5m) and Rtca Inc ($9.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 11% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $359k (3.1% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $11.2m against liabilities of $10.5m, net assets of $707k. It reported 134 employees.