Lake Erie College Prep School
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 2,931,365 | 2,803,181 | 128,184 | -17.3 | 38% |
| 2021 | 3,571,690 | 3,224,041 | 347,649 | -13.7 | 35% |
| 2022 | 4,164,833 | 3,614,378 | 550,455 | -10.4 | 33% |
| 2023 | 4,077,963 | 4,222,487 | −144,524 | -9.3 | 33% |
In its most recent public year (2023), this organization spent $144,524 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-9.3 months), up from -17.3 in 2020. Staff pay was 33% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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