Great Lakes Academy Inc

Analysis

Great Lakes Academy Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in December 2014, 12 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, Great Lakes Academy Inc reported income of $9.0m and spending of $9.0m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.6m to $9.0m (+94%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 197%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Great Lakes Academy Inc 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 IL. Charities of a similar size with the same main cause include Caremessage ($9.0m), Oklahoma Partnership for School Readiness Foundation Inc ($9.0m) and Watershed Research and Training Center ($9.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 7.8% of the total. Compensation of current officers, directors and key employees was $349k (3.9% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $13.3m against liabilities of $6.7m, net assets of $6.6m. It reported 120 employees.