Lake Technical College Inc

Lake Technical College Inc. consistently generates revenue surpluses and reports no officer compensation.

EIN: 200940772 · Eustis, FL · NTEE: B29 · Updated: 2026-03-28

$21.8MRevenue

$25.3MAssets

85/100Mission Score (Excellent)

B29

About Lake Technical College Inc

Lake Technical College Inc (EIN: 200940772) is a nonprofit organization based in Eustis, FL, classified under NTEE code B29. The organization reported total revenue of $21.8M and total assets of $25.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lake Technical College Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Lake Technical College Inc. demonstrates consistent financial activity, with revenues generally exceeding expenses over the past decade, contributing to a steady growth in assets from $7.8 million in 2014 to $23.3 million in 2023. The organization's financial health appears stable, with a healthy asset base relative to its liabilities. A notable aspect is the reported 0% officer compensation across all available filings, which suggests that executive leadership may be compensated through other means not captured in this specific line item, or that the organization operates with a volunteer or externally funded leadership structure. This lack of reported officer compensation, while potentially positive for direct program spending, warrants further investigation for complete transparency regarding leadership remuneration.

The spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses from the provided data. However, the consistent surplus of revenue over expenses, particularly in recent years (e.g., $14.79M revenue vs. $14.66M expenses in 2023, and $19.77M revenue vs. $13.63M expenses in 2022), indicates effective financial management and an ability to build reserves. The organization's NTEE code B29 (Vocational Technical Schools) suggests a strong program focus on education and workforce development. The absence of reported fundraising expenses could imply that funding primarily comes from government grants, tuition, or other non-fundraising sources, which can be a sign of efficiency if these revenue streams are stable.

Transparency regarding executive compensation is a potential area for improvement, as the 0% reported officer compensation across all filings is unusual for an organization of this size and revenue. While it could indicate a highly efficient model, it also raises questions about how leadership is compensated or if these roles are entirely voluntary. Further details on the allocation of expenses into program, administrative, and fundraising categories would enhance the assessment of spending efficiency and overall transparency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Lake Technical College Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 90%
fundraising: 0%

According to IRS 990 filings, Lake Technical College Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an entity with annual revenues exceeding $14 million and suggests that executive compensation may be structured differently or not reported under this specific category, or that leadership roles are entirely voluntary.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Lake Technical College Inc's IRS 990 filings:

Unusually low (0%) reported officer compensation, which may obscure actual leadership remuneration.

Strengths

The following positive indicators were identified for Lake Technical College Inc:

Consistent revenue surpluses, indicating strong financial management and sustainability.
Steady growth in assets from $7.8 million in 2014 to $23.3 million in 2023, strengthening financial position.
Healthy asset-to-liability ratio, suggesting financial stability.
Likely strong program focus given its NTEE code as a Vocational Technical School.

Frequently Asked Questions about Lake Technical College Inc

How are the executive officers of Lake Technical College Inc. compensated, given that 0% officer compensation is reported across all filings?

The provided IRS 990 data consistently shows 0% officer compensation. This could mean that executive leadership is compensated through other means not categorized as 'officer compensation' on the 990, that they are compensated by an affiliated entity, or that these roles are entirely voluntary. Further investigation into the organization's full financial statements or specific compensation policies would be needed to clarify this.

What is the detailed breakdown of program, administrative, and fundraising expenses for Lake Technical College Inc.?

The provided summary data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories. While the NTEE code suggests a strong program focus, a full 990 form would be required to determine the exact percentages allocated to each area.

What are the primary sources of revenue for Lake Technical College Inc. if fundraising expenses are consistently low or zero?

Given the likely low or zero fundraising expenses, it is probable that Lake Technical College Inc. primarily derives its revenue from tuition fees, government grants (federal, state, and local), and potentially other educational service fees, consistent with its mission as a vocational technical school.

Filing History

IRS 990 filing history for Lake Technical College Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Lake Technical College Inc's revenue has grown by 87.1%, moving from $7.9M to $14.8M. Total assets increased by 378% over the same period, from $4.9M to $23.3M. Total functional expenses rose by 93.2%, from $7.6M to $14.7M. In its most recent filing year (2023), Lake Technical College Inc reported a surplus of $133K, with revenue exceeding expenses. The organization holds $6.8M in liabilities against $23.3M in assets (debt-to-asset ratio: 29.2%), resulting in net assets of $16.5M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$14.8M	$14.7M	$23.3M	$6.8M	—	—
2022	$19.8M	$13.6M	$23.9M	$7.1M	—	View 990
2021	$18.3M	$17.7M	$17.5M	$6.9M	—	View 990
2020	$12.2M	$11.7M	$15.7M	$6.1M	—	View 990
2019	$12.2M	$12.2M	$15.6M	$6.5M	—	View 990
2018	$11.9M	$9.7M	$14.6M	$5.4M	—	View 990
2017	$12.0M	$10.1M	$13.4M	$6.4M	—	View 990
2016	$9.1M	$8.9M	$10.2M	$5.1M	—	View 990
2015	$10.2M	$9.2M	$8.9M	$4.0M	—	View 990
2014	$10.3M	$8.9M	$7.8M	$1.5M	—	View 990
2013	$8.3M	$7.7M	$6.4M	$1.5M	—	View 990
2012	$8.4M	$7.9M	$5.5M	$1.1M	—	View 990
2011	$7.9M	$7.6M	$4.9M	$1.0M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $14.8M, expenses of $14.7M, and assets of $23.3M (revenue -25.2% year-over-year).
2022: Revenue of $19.8M, expenses of $13.6M, and assets of $23.9M (revenue +8.3% year-over-year).
2021: Revenue of $18.3M, expenses of $17.7M, and assets of $17.5M (revenue +50.0% year-over-year).
2020: Revenue of $12.2M, expenses of $11.7M, and assets of $15.7M (revenue -0.1% year-over-year).
2019: Revenue of $12.2M, expenses of $12.2M, and assets of $15.6M (revenue +2.1% year-over-year).
2018: Revenue of $11.9M, expenses of $9.7M, and assets of $14.6M (revenue -0.5% year-over-year).
2017: Revenue of $12.0M, expenses of $10.1M, and assets of $13.4M (revenue +31.4% year-over-year).
2016: Revenue of $9.1M, expenses of $8.9M, and assets of $10.2M (revenue -10.4% year-over-year).
2015: Revenue of $10.2M, expenses of $9.2M, and assets of $8.9M (revenue -0.9% year-over-year).
2014: Revenue of $10.3M, expenses of $8.9M, and assets of $7.8M (revenue +24.4% year-over-year).
2013: Revenue of $8.3M, expenses of $7.7M, and assets of $6.4M (revenue -2.3% year-over-year).
2012: Revenue of $8.4M, expenses of $7.9M, and assets of $5.5M (revenue +6.8% year-over-year).
2011: Revenue of $7.9M, expenses of $7.6M, and assets of $4.9M.

Data Sources and Methodology

This transparency report for Lake Technical College Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.