Lake Erie College Prep School

Analysis

Lake Erie College Prep School is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lake Erie College Prep School reported income of $4.1m and spending of $4.2m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.7m to $4.1m (+53%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 22%. Over the whole period it spent 95% 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 Prep School sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within OH. Charities of a similar size with the same main cause include Sonoran Institute Inc ($4.1m), Augusta Heritage Academy Inc ($4.1m) and Cals All Star Angel Foundation Inc ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $1.4m. At year end it held assets of $6.3m against liabilities of $9.5m, net assets of -$3.3m.