Clear Lake Classical Incorporated

Analysis

Clear Lake Classical Incorporated is a registered charity in United States, based in Clear Lake, IA. It received its IRS tax-exemption ruling in March 2015, 11 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, Clear Lake Classical Incorporated reported income of $755k and spending of $717k, spending 95% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $324k to $755k (+133%), an average of +33% a year. The sharpest change came in the year to June 2022, when income rose by 81%. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Clear Lake Classical Incorporated sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 78th percentile within IA. Charities of a similar size with the same main cause include Rellis Commercial Driver Training Academy ($755k), Islamic University of North America Inc ($755k) and Foundation for Engineering at the University of Oklahoma Inc ($754k).

On its Form 990 for the period ending June 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 $11k (1.5% of expenses). Other salaries and wages came to $445k. At year end it held assets of $601k against liabilities of $0, net assets of $601k. It reported 31 employees.