West Lake Education Foundation Inc

Analysis

West Lake Education Foundation Inc is a registered charity in United States, based in Cornelius, NC. It received its IRS tax-exemption ruling in July 2021, 5 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, West Lake Education Foundation Inc reported income of $6.1m and spending of $6.9m, spending 113% of what it took in. Across the 3 years on record, from June 2020 to June 2023, income grew from $1.9m to $6.1m (+217%), an average of +78% a year. The sharpest change came in the year to June 2022, when income rose by 209%. Over the whole period it spent 111% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, West Lake Education Foundation Inc sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NC. Charities of a similar size with the same main cause include St Johns Community Child Development Center ($6.1m), North Hills Christian School Inc ($6.2m) and Hershorin Schiff Day Schools of Tomorrow Inc ($6.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 4.7% of the total. Other salaries and wages came to $2.2m. At year end it held assets of $19.8m against liabilities of $21.1m, net assets of -$1.3m.