Lake Oconee Academy Foundation Inc

Analysis

Lake Oconee Academy Foundation Inc is a registered charity in United States, based in Greensboro, GA. It received its IRS tax-exemption ruling in February 2015, 11 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lake Oconee Academy Foundation Inc reported income of $1.5m and spending of $1.7m, spending 117% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $485k to $1.5m (+208%), an average of +32% a year. The sharpest change came in the year to June 2020, when income rose by 96%. Over the whole period it spent 115% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Lake Oconee Academy Foundation Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 86th percentile within GA. Charities of a similar size with the same main cause include United Way of Dubuque Area Tri- States ($1.5m), Friends of Green Chimneys ($1.5m) and TSR Adventures Inc ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $38k (2.2% of expenses). At year end it held assets of $23.3m against liabilities of $21.5m, net assets of $1.8m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.