Educational Foundation of Lake County Inc

Analysis

Educational Foundation of Lake County Inc is a registered charity in United States, based in Leesburg, FL. It received its IRS tax-exemption ruling in June 1987, 39 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Educational Foundation of Lake County Inc reported income of $2.3m and spending of $1.7m, leaving 24% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $2.3m (+57%), an average of +12% a year. The sharpest change came in the year to June 2023, when income rose by 52%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Educational Foundation of Lake County Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within FL. Charities of a similar size with the same main cause include Union Christian Academy Inc ($2.3m), Business-Higher Education Forum ($2.3m) and Sparkforce NFP ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $112k (6.5% of expenses). Other salaries and wages came to $40k. At year end it held assets of $5.2m against liabilities of $229k, net assets of $5.0m. It reported 3 employees.