Great Lakes Academy Support Corporation

Analysis

Great Lakes Academy Support Corporation is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 2021, 5 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Great Lakes Academy Support Corporation reported income of $455k and spending of $621k, spending 137% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income grew from $6,549 to $455k (+6845%), an average of +733% a year. The sharpest change came in the year to June 2022, when income rose by 6846%. Over the whole period it spent 334% 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 Support Corporation sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within IL. Charities of a similar size with the same main cause include Moemaka Multimedia ($455k), Palm Arts ($455k) and Homework House Inc ($455k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $14.9m against liabilities of $13.9m, net assets of $988k.

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.