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LAKE Forest College

Public charityFed auditsIRS 990990-T FY2023
DBA: % ROBERT KREBS
Other · LAKE FOREST, IL · EIN 36-2167770

About

Provide post-secondary education leading to a baccalaureate degree. Program service expenditures are made in conjunction with the operation of a liberal arts college spread over 107 acres with approximately 63 educational and support buildings. The College is accredited by the Higher Learning Commission, and had 1,796 undergraduate students and 26 graduate students with 145 full time faculty. Bachelor of arts degrees conferred were 426 during the year, with 16 master's degrees conferred. The College had approximately 1,250 resident students in the residence halls.

In care of Robert Krebs

Donations are tax-deductible
Category
Other
Employees
1,483
Volunteers
1,000

Financial Snapshot

FY ending 2024-05-31
Revenue
$141.5M
Expenses
$144.5M
Assets
$269.0M
Liabilities
$57.4M

Financial history

$144.5M$72.3M$0
161718192021222324
RevenueExpenses
Latest FY2024: $141.5M · Avg: $116.2M

501(h) election

This 501(c)(3) has NOT elected 501(h) — lobbying is permitted but limited under the vaguer "no substantial part of activities" test.

Political & Grant Activity

Campaign Spending
Lobbying
$795
Grants Given
$68.7M
LAKE FOREST COLLEGE
Your actions

Address

555 N Sheridan RD
LAKE Forest, IL, 60045-233

Governance

Voting board members35
Independent members34
Conflict-of-interest policyYes
Whistleblower policyYes
Doc-retention policyYes
Audit committeeYes
990 reviewed by boardYes

Compensation practices

Severance paymentsYes
Equity-based compNo
Supplemental retirement planNo
Compensation committeeYes
Used comp surveyYes
Board approved compYes
Initial contract exceptionNo

Financial detail (Schedule D)

Board-designated %15.9%
Permanent endowment %83.8%
Endowment held by related orgNo
Public records
ProPublica Nonprofit Explorer
Full 990 PDFs going back to 2001, plus parsed financial extracts. The easiest place to read actual filings.
IRS Tax Exempt Organization Search
IRS-side authoritative source. Confirms current exempt status and pulls the latest determination letter.
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