Overview
What is Lake Forest Academy?
Lake Forest Academy (LFA), established in 1857, is a co-educational independent school located in Lake Forest, Illinois. With a campus spread over 150 acres, LFA was initially the Boys' Preparatory Department of Lind University, and the Girls' Preparatory Department, Ferry Hall, was added in 1869. The two institutions legally separated from the university in 1925 and merged back in 1974. Today, LFA has 435 students hailing from 15 states and 35 countries, with 70% of the faculty residing on campus. LFA's student body consists of 47% boarders. The historical and modern buildings on the campus were once part of the J. Ogden Armour estate. LFA's 2019 strategic plan, "Midwestern Heart. Global Mind," focuses on developing global citizens through unique educational experiences within a diverse and caring community. The administration and faculty are dedicated to excellence through the initiatives of educational experience, multiculturalism, marketing, and financial strength. For over 165 years, LFA has adhered to its core values of educating the innovative minds of the next generation. The institution is poised to achieve greater success and looks forward to a new chapter in its rich history.
Official website here: www.lfanet.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96% (Four-Star out of Four Star rating)
Lake Forest Academy has earned an impressive Four-Star rating from Charity Navigator, reflecting a strong accountability and finance score of 96%. This high rating is crucial for potential donors, as it indicates transparency and effective financial management within the organization. The rating is based entirely on accountability and finance criteria, suggesting that financial health is a key strength for the Academy.
The organization demonstrates a robust governance structure, with 93% of its board members being independent, which promotes unbiased decision-making. Additionally, the Academy has received full marks for its financial oversight measures and policies, including conflict of interest and whistleblower protections. The low liabilities to assets ratio further underscores its sound financial standing.
While the financial performance metrics, such as a program expense ratio of 73.48%, indicate a significant portion of funds is directed toward programs, continuous monitoring of these figures will be essential. Overall, Lake Forest Academy appears to be a well-managed nonprofit with strong accountability practices, making it a trustworthy option for donors seeking to support educational initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Forest Academy legitimate?
Lake Forest Academy is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Forest Academy 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: $1,477,301
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,463,435
For more financial information, click here
Official website here: www.lfanet.org
What is the mission statement of Lake Forest Academy?
Lake Forest Academy is dedicated to fostering excellence in its practices and students, promoting character, scholarship, citizenship, and responsibility. Founded in 1857 as the Boys' Preparatory Department of Lind University, the school later added the Girls' Preparatory Department, Ferry Hall, in 1869. In 1925, the two institutions legally separated from the university to become independent secondary educational institutions. Today, Lake Forest Academy serves 435 students from 15 states and 35 countries, 70% of whom are boarders. The school's mission, as outlined in its 2019 strategic plan, "Midwestern Heart. Global Mind," emphasizes the development of global citizens through unique educational experiences within a diverse and caring community. The administration and faculty work towards achieving success through the four main initiatives: educational experience, multiculturalism, marketing, and financial strength. For over a century and a half, Lake Forest Academy has remained committed to educating the innovative minds of the next generation.
Official website here: www.lfanet.org
Who is the CEO of Lake Forest Academy?
Chris Tennyson is the Principal Officer of Lake Forest Academy.
Official website here: www.lfanet.org
What is the revenue of Lake Forest Academy?
Lake Forest Academy's revenue in 2022 was $34,795,522.
Official website here: www.lfanet.org
Who are the executives of Lake Forest Academy and what are their salaries?
The average compensation at Lake Forest Academy during 2022 was $48,843. There are 224 employees and 312 volunteers at Lake Forest Academy.
Here are 43 key members and their salaries:
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Official website here: www.lfanet.org
Where can I find the form 990 for Lake Forest Academy?
Lake Forest Academy's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lfanet.org
Learn more at the official website: www.lfanet.org
Mission Statement of Lake Forest Academy
Lake Forest Academy, a prestigious educational institution established in 1857, is renowned for its commitment to nurturing well-rounded students with excellent character, scholarship, citizenship, and responsibility. This independent college preparatory school, home to 435 students from diverse backgrounds, has a rich history spanning over 165 years.
Originally part of Lind University, Lake Forest Academy began as the Boys' Preparatory Department, with the Girls' Preparatory Department, Ferry Hall, added in 1869. In 1925, the two schools legally separated from the university to become independent educational institutions. Merging into a co-educational school in 1974, today's Lake Forest Academy remains dedicated to its core values, offering both day and boarding programs.
Situated on a 150-acre campus, Lake Forest Academy is proud of its unique blend of historical and modern buildings, providing a dynamic learning environment. The institution's 2019 strategic plan, "Midwestern Heart. Global Mind.", emphasizes its focus on developing global citizens through distinctive educational experiences within a diverse and caring community. The administration and faculty are dedicated to the four main initiatives: educational experience, multiculturalism, marketing, and financial strength.
To summarize, Lake Forest Academy, founded in 1857, is an esteemed independent college preparatory school devoted to fostering students with strong character, academic excellence, and a sense of responsibility. With a rich history spanning over 165 years and a focus on global citizenship, the school continues to uphold its core values while cultivating innovative minds for the future.
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Impact
October, 2024
Lake Forest Academy (LFA) profoundly impacts students' lives by fostering a nurturing and inclusive environment that emphasizes educational excellence, character development, and global citizenship. Established in 1857, the academy has a rich history and a commitment to innovation, serving a diverse student body of 435 individuals from 15 states and 35 countries, with nearly half of them residing on campus.
The unique educational experiences offered at LFA are designed to cultivate the minds of global citizens, preparing students for success in an increasingly interconnected world. The academy's strategic initiatives focus on enhancing the educational experience, promoting multiculturalism, and strengthening financial sustainability, all while emphasizing the importance of scholarship, citizenship, and responsibility.
Set on a picturesque 150-acre campus that combines historic and modern architecture, LFA nurtures a community of learners supported by a dedicated faculty, 70% of whom live on campus. This close-knit community allows for personalized guidance and mentorship, further enriching the academic experience. Over its 165-year history, Lake Forest Academy has remained dedicated to its mission of developing the innovative leaders of tomorrow, continually adapting its offerings to meet the evolving needs of its students and the broader world.
This information is meant to be a general summary of Lake Forest Academy. 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: $2,761,660
- Program Service Revenue: $25,571,760
- Gross Receipts: $55,184,401
Assets and Liabilities:
- Total Assets: $113,447,241
- Total Liabilities: $38,146,433
- Net Assets: $75,300,808
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TUITION
Revenue
$24,331,987
FACILITY RENTAL
Revenue
$1,129,515
ACADEMIC FEES & SALES
Revenue
$80,318
STUDENT FEES
Revenue
$29,940
Organization Details
Founding Year
1857
Phone
(847) 615-3213Principal Officer
Chris Tennyson
Main Address
1500 WEST KENNEDY ROAD, LAKE FOREST, IL, 60045
Website
www.lfanet.orgNTEE Category
Code: B250 - Education
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