Overview
What is Lg Academy A Nj Nonprofit Corporation?
Lg Academy A Nj Nonprofit Corporation is a charitable organization situated in Boonton, New Jersey. With a team of 18 dedicated individuals, their primary focus is on operating Lumen Gentium Academy, a high school. This institution serves as the core activity and mission of the organization, providing educational opportunities to its students.
Official website here: www.lumengentium.academy
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1-Star out of Four Stars (51%)
Lg Academy A Nj Nonprofit Corporation has received a low rating of 51%, reflecting significant concerns regarding its accountability and financial practices. The organization has not demonstrated a strong governance structure, as evidenced by having only 33% independent board members and a lack of sufficient financial statements. While it does have some positive aspects such as having a conflict of interest policy and whistleblower policy in place, the overall lack of transparency in financial reporting is notable.
Despite the challenges highlighted in its evaluation, the nonprofit does excel in program expense ratio, with 83.69% of its expenditures going directly to its programs. However, the high liabilities to assets ratio of 76.79% indicates financial distress, which raises questions about its sustainability. The absence of key financial documents on its website further compounds the organization's accountability issues.
While Lg Academy A Nj Nonprofit Corporation has some commendable policies and a focus on programmatic spending, its governance shortcomings and lack of financial transparency are significant red flags for potential donors and stakeholders. Enhanced accountability and better financial management practices would be crucial for improving its standing and trust within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Lg Academy A Nj Nonprofit Corporation legitimate?
Lg Academy A Nj Nonprofit Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lg Academy A Nj Nonprofit Corporation 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: $395,020
For more financial information, click here
Official website here: www.lumengentium.academy
What is the mission statement of Lg Academy A Nj Nonprofit Corporation?
Lg Academy A Nj Nonprofit Corporation's mission is primarily focused on operating a high school, specifically Lumen Gentium Academy. This organization is committed to providing educational services to its students, ensuring they receive a quality education within this setting. While the provided information does not specify any additional goals or objectives beyond operating the school, it is assumed that the organization's mission also encompasses fostering an environment conducive to learning, personal growth, and the holistic development of its students.
Official website here: www.lumengentium.academy
Who is the CEO of Lg Academy A Nj Nonprofit Corporation?
Lloyd Martinson is the Treasurer of Lg Academy A Nj Nonprofit Corporation.
Official website here: www.lumengentium.academy
What is the revenue of Lg Academy A Nj Nonprofit Corporation?
Lg Academy A Nj Nonprofit Corporation's revenue in 2023 was $550,031.
Official website here: www.lumengentium.academy
Who are the executives of Lg Academy A Nj Nonprofit Corporation and what are their salaries?
The average compensation at Lg Academy A Nj Nonprofit Corporation during 2023 was $21,946. There are 18 employees at Lg Academy A Nj Nonprofit Corporation.
Here are 6 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
Official website here: www.lumengentium.academy
Where can I find the form 990 for Lg Academy A Nj Nonprofit Corporation?
Lg Academy A Nj Nonprofit Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lumengentium.academy
Learn more at the official website: www.lumengentium.academy
Mission Statement of Lg Academy A Nj Nonprofit Corporation
Lumen Gentium Academy, operated by Lg Academy A Nj Nonprofit Corporation, is dedicated to its mission. This mission revolves around the operation of a high school, specifically Lumen Gentium Academy. This institution serves as an educational hub, providing a learning environment for its students. The nonprofit corporation's primary focus is on operating this high school, ensuring it provides quality education to its students. While the information provided does not detail the specifics of the school's curriculum or its educational philosophy, it is clear that Lumen Gentium Academy is at the heart of Lg Academy A Nj Nonprofit Corporation's activities.
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Impact
July, 2024
Lg Academy A Nj Nonprofit Corporation, operating under the name Lumen Gentium Academy, is making a significant impact by providing high school education in Boonton, NJ. This institution is dedicated to offering quality education to students in the local community, emphasizing the importance of academic excellence and personal growth. Through its mission, Lg Academy is shaping the future leaders of tomorrow and contributing to the overall improvement of education in the region.
This information is meant to be a general summary of Lg Academy A Nj Nonprofit Corporation. 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 2023.
- Investment Income: $1
- Program Service Revenue: $313,413
- Gross Receipts: $550,031
Assets and Liabilities:
- Total Assets: $88,565
- Total Liabilities: $68,010
- Net Assets: $20,555
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Tuition and Fees
Revenue
$306,492
Yearbooks
Revenue
$860
Extracurricular events
Revenue
$6,061
Organization Details
Founding Year
2020
Principal Officer
Lloyd Martinson
Main Address
513 Birch Street, Boonton, NJ, 07005
Website
www.lumengentium.academyNTEE Category
Code: B25 - Education
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