Overview
What is Lila Building Company?
Lila Building Company is a nonprofit entity based in Forest Lake, Minnesota, with an address at 246 11th Ave SE. Its primary mission is to provide appropriate school facilities for lease to Lakes International Language Academy, a public charter school located in the same city. To accomplish this, the company has leased three buildings to the school, including a lower school, a kindergarten center, and an upper school, totalling over 153,000 square feet of space. Lila Building Company has two sets of facility bonds, one issued in 2014 and another in 2019, which financed the acquisition of land and the construction of new buildings, as well as the expansion of existing facilities. The company is run by a board of volunteers and a few administrators from Lakes International Language Academy, and it does not have any paid employees. Overall, Lila Building Company's purpose is to support the growth and development of Lakes International Language Academy by providing it with suitable school facilities.
Official website here: www.mylila.org/district/lila-building-company
Is Lila Building Company legitimate?
Lila Building Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lila Building Company submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.mylila.org/district/lila-building-company
What is the mission statement of Lila Building Company?
Lila Building Company's mission is centered around managing and maintaining appropriate school facilities, specifically for lease to Lakes International Language Academy. The company's primary objective is to provide suitable educational environments. To accomplish this, they have leased out three buildings of varying sizes to Lakes International Language Academy. These include a lower school, a kindergarten center, and an upper school. The company has financed the acquisition of land and construction through facility bonds, with the latest series funding the expansion of the leased buildings. Lila Building Company operates with a small team, comprising of volunteers and no paid employees, who contribute to its operations and management.
Official website here: www.mylila.org/district/lila-building-company
Who is the CEO of Lila Building Company?
Julie Lundgren is the President of Lila Building Company.
Official website here: www.mylila.org/district/lila-building-company
What is the revenue of Lila Building Company?
Lila Building Company's revenue in 2022 was $2,633,654.
Official website here: www.mylila.org/district/lila-building-company
Who are the executives of Lila Building Company and what are their salaries?
There 10 volunteers at Lila Building Company.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $96,093
- Other: $3,113
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.mylila.org/district/lila-building-company
Where can I find the form 990 for Lila Building Company?
Lila Building Company's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mylila.org/district/lila-building-company
Learn more at the official website: www.mylila.org/district/lila-building-company
Mission Statement of Lila Building Company
Lila Building Company, an entity with a singular mission, is dedicated to managing school buildings and leasing them to Lakes International Language Academy (LILA). This organization's primary objective is to own and maintain suitable school facilities, ensuring that LILA, a public charter school based in Forest Lake, Minnesota, has appropriate educational spaces at its disposal.
Lila Building Company has played a significant role in providing LILA with the necessary infrastructure to support its students. The organization has leased three properties to LILA, including the original Lower School, the Kinder Center, and the expansive Upper School. The Upper School, constructed through funds from the 2014 Series Bonds, which refinanced the 2006 bonds and expanded the school's capacity, now houses students from preschool through 12th grade.
In addition to leasing properties, Lila Building Company has also invested in the expansion of existing buildings. The 2019 Series Bonds funded the enlargement of Buildings 2 and 3, resulting in increased capacity and improved facilities for LILA's growing student population. The single-family home at 107 11th Ave SE was demolished to make way for the expansion, with both properties eventually combined.
Lila Building Company's mission is not just about property management; it is about fostering a conducive learning environment for students. By providing LILA with the necessary facilities, the organization enables the school to offer a well-rounded education to its students, ultimately contributing to their academic growth and success. The company's commitment to this mission is demonstrated through its dedication to maintaining the properties and working in close collaboration with LILA to ensure the schools' needs are met.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Lila Building Company plays a vital role in the educational landscape of Forest Lake, MN, by managing essential school facilities that foster learning and development at Lakes International Language Academy. Through their strategic leasing of three significant properties, including the Lower School, Kinder Center, and Upper School, Lila Building Company ensures a conducive environment where students can thrive from preschool through grade 12.
The expansion efforts facilitated by Lila Building Company have directly increased the capacity and quality of educational offerings. The construction of the new Upper School and the renovations of existing buildings not only provide state-of-the-art facilities but also demonstrate a commitment to meeting the growing needs of the school community. These expansions, supported by financial instruments such as facility bonds, empower Lakes International Language Academy to deliver a full range of programs, enhancing educational opportunities for all students.
Moreover, Lila Building Company operates with a community-oriented approach, utilizing volunteers to oversee operations and liaise with school administrators. This grassroots involvement ensures that the focus remains on creating and maintaining the best possible educational environment for future generations. By managing these vital assets, Lila Building Company significantly impacts education in the region, contributing to the overall success and development of the students at Lakes International Language Academy.
This information is meant to be a general summary of Lila Building Company. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $35,722
- Program Service Revenue: $2,597,932
- Gross Receipts: $2,633,654
Assets and Liabilities:
- Total Assets: $35,746,201
- Total Liabilities: $37,112,649
- Net Assets: -$1,366,448
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rent Revenue
Revenue
$2,597,932
Organization Details
Founding Year
2005
Phone
(651) 252-6705Principal Officer
Julie Lundgren
Main Address
246 11th Ave SE, Forest Lake, MN, 55025
NTEE Category
Code: B11 - Education
If you are a representative of Lila Building Company and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.