Lake Forest Academy

Analysis

Lake Forest Academy is a registered charity in United States, based in Lake Forest, IL. It received its IRS tax-exemption ruling in May 1957, 69 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 Forest Academy reported income of $36.4m and spending of $34.7m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $33.5m to $36.4m (+8.7%), an average of +2.1% a year. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lake Forest Academy sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within IL. Charities of a similar size with the same main cause include American College ($36.4m), St Andrews Episcopal School Inc ($36.5m) and Kingswood Oxford School Inc ($36.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $844k (2.4% of expenses). Other salaries and wages came to $9.7m. At year end it held assets of $119.5m against liabilities of $39.0m, net assets of $80.5m. It reported 210 employees.