Lake Forest College

Analysis

Lake Forest College is a registered charity in United States, based in Lake Forest, IL. It received its IRS tax-exemption ruling in February 1934, 92 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 May 2023, Lake Forest College reported income of $140.5m and spending of $133.9m, spending 95% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $104.7m to $140.5m (+34%), an average of +7.6% a year. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake Forest College sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IL. Charities of a similar size with the same main cause include St Norbert College Inc ($140.3m), York College of Pennsylvania ($140.6m) and North Central College ($140.1m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 22% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $2.4m (1.8% of expenses). Other salaries and wages came to $26.1m. At year end it held assets of $261.9m against liabilities of $59.1m, net assets of $202.8m. It reported 1,429 employees.