Lake Forest Academy
Lake Forest Academy reported $48.6 million in revenue and $39.2 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $73.03 went to program services, $22.08 to management and general costs and $4.89 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 62.4% of the total. The highest compensation it reported for one person was $417,850 (HEAD OF SCHOOL). 20 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 June 30, 2025 · Form 990, Part IX, line 25 · total expenses $39MFor 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 June 30, 2025 · Form 990, Part VIII · total revenue $49MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 73.0% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 22.1% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 4.9% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.34 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 11.7% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 2.4% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 62.4% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $417,850 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.07% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 20 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 28.5 | 13.3 |
| Independent voting board members Part VI 1a–1b | 33 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 expenseLake Forest Academy "lfa" was established in 1857 as the boys' preparatory department of lind university. The girls' preparatory department, ferry hall, was added 1869. In 1925, lfa and ferry hall legally separated from the university to become secondary educational institutions. In 1974, the two schools merged into a co-educational independent school. Today's lfa is home to 445 students from 19 states and 40 countries where 50% are boarders. Lfa operates as a boarding school with 72% of the faculty residing on campus. Lfa's 150-acre campus is on the former estate of j. Ogden armour and now…
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 |
|---|---|---|---|---|
| HEAD OF SCHOOL Former, 40.0 hrs/week | $354,780 | $0 | $63,070 | $417,850 |
| CHIEF FINANCIAL OFFICER Officer, 40.0 hrs/week | $248,078 | $0 | $68,941 | $317,019 |
| HEAD OF SCHOOL Officer, 40.0 hrs/week | $223,410 | $0 | $53,163 | $276,573 |
| VP FOR ADVANCEMENT Key employee, 40.0 hrs/week | $203,250 | $0 | $61,713 | $264,963 |
| HEAD OF SCHOOL OFFICE Key employee, 40.0 hrs/week | $194,088 | $0 | $53,137 | $247,225 |
| ATHLETIC DIRECTOR Highest compensated employee, 40.0 hrs/week | $203,991 | $0 | $39,206 | $243,197 |
| DIRECTOR OF IT Highest compensated employee, 40.0 hrs/week | $141,838 | $0 | $41,211 | $183,049 |
| COMPTROLLER Highest compensated employee, 60.0 hrs/week | $134,622 | $0 | $46,939 | $181,561 |
20 people received more than $100,000 in reportable compensation from Lake Forest Academy (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.6M (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 · 33 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 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5295
- Volunteers Part I, line 6190
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| ALTOUNIAN CONSTRUCTION Site athletics & building addition | $8,192,885 |
| Sodexo Inc & Affiliates Facility Management & Catering | $1,301,284 |
| Sentinel Technologies Inc Technology Services | $607,525 |
| CAP Construction Inc Construction Services | $507,793 |
| ABCO Electrical Construction and Design LLC Site Athletics Addition | $401,546 |
Individuals listed as contractors are left out. 14 contractors were paid more than $100,000 in all.
Private foundation grants it received
25 private foundations reported grants to Lake Forest Academy totaling $519K 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 Academy'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 Academy, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Lake Forest Academy spent in FY2025, $73.03 went to programs. The full breakdown, from its IRS Form 990:
Embed on your site
Similar-sized charities in this cause
- Anderson Center for AutismStaatsburg, NY · revenue $49M · programs 87.4% · 2024
- Baker Charter Schools OrganizationBaker City, OR · revenue $49M · programs 91.1% · FY2025
- American School at Hartford for the DeafWest Hartford, CT · revenue $48M · programs 89.8% · FY2025
- Robert F Kennedy Community AllianceLancaster, MA · revenue $49M · programs 88.6% · FY2025
- North Carolina Wesleyan UniversityRocky Mount, NC · revenue $48M · programs 86.3% · FY2025
Questions people ask
How much of Lake Forest Academy's spending goes to programs?
In the fiscal year ending June 30, 2025, Lake Forest Academy reported that 73.0% of its $39.2 million in expenses went to program services, 22.1% to management and general and 4.9% to fundraising (Form 990, Part IX).
How much does Lake Forest Academy pay its top executive?
The largest total compensation Lake Forest Academy reported for one person in the fiscal year ending June 30, 2025 was $417,850, for the role of HEAD OF SCHOOL (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Lake Forest Academy get its money?
Of $48.6 million in revenue in the fiscal year ending June 30, 2025, 11.7% came from contributions and grants (including 2.4% from government grants) and 62.4% from program service revenue (Form 990, Part VIII).
Is Lake Forest Academy a registered charity?
The IRS lists EIN 36-2216167 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 June 30, 2025, object 202621329349304202 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202501359349304190 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202441159349301044 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202310759349300426 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202220389349300972 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202130579349301613 · read the filing
All filings for EIN 36-2216167: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.