Lake Country Academy Inc

Nonprofit profile at a glance

EIN
391987152
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Sheboygan, WI, USA
Phone
9202083020
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$4,361,871
Expenses
$4,257,569
Assets
$6,667,820
Liabilities
$2,997,537

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • KATIE CHECOLINSKI (PRESIDENT)
  • KATIE JANSEN (VICE PRESIDENT)

Highest reported compensation

  • KATIE BEINE (PRINCIPAL): $100,119 total reported compensation
  • BRYAN BESTUL (ASSISTANT PRINCIPAL): $92,847 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of lake country academy is to be a recognized leader in education through direct instruction and core knowledge within an environment that emphasizes core values.

What it reported doing in 2024

The organization operates a non-instrumentality charter school that is affiliated with the sheboygan area school district. The charter school provides educational services to grades 4k through 8. They are in the top 5 according to student achievement as measured on the state report card in the sheboygan area school district.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.8%; rating input score 78
  • Program expense ratio: 80.6%; rating input score 81
  • Fundraising efficiency: $18.22 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.4%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 1.57; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.45; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 45th percentile among comparable filings
  • Asset growth: 6.8% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 77.8% of revenue deployed · 80.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.4M in reported program spending
  • Leadership: top reported pay $100K · 11 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.