Lake Forest College
Lake Forest College reported $165.1 million in revenue and $155.5 million in expenses for the fiscal year ending May 31, 2025. Of every $100 it spent, $89.84 went to program services, $8.63 to management and general costs and $1.53 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 73.5% of the total. The highest compensation it reported for one person was $736,020 (President (until 12/10/24)). 45 people received more than $100,000 in reportable compensation. Revenue rose 50% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending May 31, 2025 · Form 990, Part IX, line 25 · total expenses $155MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending May 31, 2025 · Form 990, Part VIII · total revenue $165MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 89.8% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 8.6% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.5% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.06 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 24.6% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 2.5% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 73.5% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $736,020 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.47% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 45 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 17.9 | 13.3 |
| Independent voting board members Part VI 1a–1b | 34 of 34 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseInstruction and research includes expenses for all activities that are part of the instructional program and for activities specifically organized to produce research
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| President (until 12/10/24) Director/trustee, officer, 50.00 hrs/week | $709,690 | $0 | $26,330 | $736,020 |
| VP for Finance/Planning; Treasurer Officer, 50.00 hrs/week | $281,169 | $0 | $14,371 | $295,540 |
| Vice President for Campus Life Officer, 50.00 hrs/week | $239,646 | $0 | $28,854 | $268,500 |
| VP for Advancement and Secretary Officer, 50.00 hrs/week | $240,525 | $0 | $12,021 | $252,546 |
| of the Krebs Center for Humanities Highest compensated employee, 50.00 hrs/week | $207,868 | $0 | $43,649 | $251,517 |
| Provost and Dean of Faculty Officer, 50.00 hrs/week | $185,474 | $0 | $44,159 | $229,633 |
| VP for Career Advancement/Athletics Officer, 50.00 hrs/week | $196,406 | $0 | $25,307 | $221,713 |
| Chief Information Officer Officer, 50.00 hrs/week | $184,936 | $0 | $21,561 | $206,497 |
45 people received more than $100,000 in reportable compensation from Lake Forest College (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.4M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b34 · 34 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 51,510
- Volunteers Part I, line 61,000
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| Parkhurst Dining Campus Food Services | $7,360,333 |
| Aramark Services Inc Custodial Services | $2,164,365 |
| Hill Mechanical Corp Construction and Maintenance Services | $1,801,846 |
| Wellington Homes Inc General Contractor | $1,577,954 |
| Blackhawk Electronical Construction LLC Electrical Contracting Services | $737,060 |
Individuals listed as contractors are left out. 46 contractors were paid more than $100,000 in all.
Private foundation grants it received
55 private foundations reported grants to Lake Forest College totaling $1.9M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Lake Forest College's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Lake Forest College, you can publish a response that is linked from this page.
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Of every $100 Lake Forest College spent in FY2025, $89.84 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Franciscan University of SteubenvilleSteubenville, OH · revenue $165M · programs 88.1% · FY2025
- Moravian UniversityBethlehem, PA · revenue $165M · programs 87.5% · FY2025
- North Carolina State University FoundationRaleigh, NC · revenue $165M · programs 78.4% · FY2025
- Kansas City UniversityKansas City, MO · revenue $166M · programs 82.9% · FY2025
- Baldwin Wallace UniversityBerea, OH · revenue $165M · programs 85.7% · FY2025
Questions people ask
How much of Lake Forest College's spending goes to programs?
In the fiscal year ending May 31, 2025, Lake Forest College reported that 89.8% of its $155.5 million in expenses went to program services, 8.6% to management and general and 1.5% to fundraising (Form 990, Part IX).
How much does Lake Forest College pay its top executive?
The largest total compensation Lake Forest College reported for one person in the fiscal year ending May 31, 2025 was $736,020, for the role of President (until 12/10/24) (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Lake Forest College get its money?
Of $165.1 million in revenue in the fiscal year ending May 31, 2025, 24.6% came from contributions and grants (including 2.5% from government grants) and 73.5% from program service revenue (Form 990, Part VIII).
Is Lake Forest College a registered charity?
The IRS lists EIN 36-2167770 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending May 31, 2025, object 202631059349301713 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending May 31, 2024, object 202501049349302230 · read the filing
- FY2023: Form 990 for the fiscal year ending May 31, 2023, object 202401039349302050 · read the filing
- FY2022: Form 990 for the fiscal year ending May 31, 2022, object 202301069349300510 · read the filing
- FY2021: Form 990 for the fiscal year ending May 31, 2021, object 202241059349301904 · read the filing
- FY2020: Form 990 for the fiscal year ending May 31, 2020, object 202131029349301318 · read the filing
All filings for EIN 36-2167770: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.