LAKE TECHNICAL COLLEGE INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

RICHARD D KEITH

Phone

3525892250

Tax Period

2024-07-01 to 2025-06-30

LAKE TECHNICAL COLLEGE INC, founded in 2004, is a mid-sized nonprofit in the Education sector that reported $21.7M in total revenue in fiscal year 2024. Expenses of $18.7M left a modest 14% surplus.

Mission

TO MEET THE EDUCATIONAL NEEDS OF THE COMMUNITY BY OFFERING A VARIETY OF HIGH QUALITY VOCATIONAL AND TECHNICAL TRAINING OPPORTUNITIES FOR HIGH SCHOOL AND ADULT STUDENTS. THE COLLEGE IS A POST SECONDARY TECHNICAL COLLEGE.

Program Service Accomplishments

Program 1

Expenses: $16,216,401 Revenue: $17,624,513

CURRICULUM AND PROGRAM DESIGN REFLECT THE NEEDS AND STANDARDS OF THE RESPECTIVE INDUSTRY. INSTRUCTION IS LARGELY INDIVIDUALIZED, WHICH ALLOWS STUDENTS TO PROGRESS BASED ON THEIR ABILITIES...

CURRICULUM AND PROGRAM DESIGN REFLECT THE NEEDS AND STANDARDS OF THE RESPECTIVE INDUSTRY. INSTRUCTION IS LARGELY INDIVIDUALIZED, WHICH ALLOWS STUDENTS TO PROGRESS BASED ON THEIR ABILITIES. INDIVIDUALIZED SPECIAL ACCOMMODATION AND REMEDIATION IS A STANDARD PRACTICE FOR STUDENTS WHO REQUIRE ASSISTANCE. THE SCHOOL SERVED AN AVERAGE OF 2,260 STUDENTS DURING THE FISCAL YEAR ENDED JUNE 30, 2025.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,693,706

Program Service Revenue $17,329,820

Investment Income $347,241

Other Revenue $294,693

TOTAL REVENUE $21,665,460

Expense Breakdown

Grants Paid $2,502,807

Salaries & Benefits $7,182,710

Fundraising Expenses $0

Program Expenses $16,216,401

Other Expenses $8,980,063

TOTAL EXPENSES $18,665,580

Year-over-Year Comparison

	2024	2023	Change
Revenue	$21,665,460	$22,121,907	0.0%
Expenses	$18,665,580	$23,869,810	-0.2%
Net Income	$2,999,880	$-1,747,903	-2.7%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$176,883

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD D KEITH	CHAIRMAN OF THE BOARD	0.50	Officer Director	$0	$0	$0
ISAAC DEAS II	BOARD MEMBER	0.50	Director	$0	$0	$0
LANA PAYNE	SECRETARY	0.50	Officer Director	$0	$0	$0
AMY DINELLA	TREASURER	0.50	Officer Director	$0	$0	$0
CA VOSSBERG	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
BONNIE ONOFRE	BOARD MEMBER	0.50	Director	$0	$0	$0
MICKEY GAULDIN	BOARD MEMBER	0.50	Director	$0	$0	$0
TIM MORRIS	BOARD MEMBER	0.50	Director	$0	$0	$0
GERALD COBB	BOARD MEMBER	0.50	Director	$0	$0	$0
DEANNA THOMAS	EXECUTIVE DIRECTOR	40.00	Officer	$136,500	$40,383	$176,883
MELISSA STEPHAN	DIRECTOR OF CURRICULUM & I	40.00	Highest	$110,250	$34,637	$144,887
TONYA HEFLEY	DIRECTOR OF OPERATIONS	40.00	Highest	$110,250	$34,637	$144,887

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$21,665,460	$18,665,580	$25,338,722	$2,999,880
2024	No data	No data	No data	No data
2023	$14,791,873	$14,658,635	$23,323,054	$133,238
2022	$19,771,716	$13,632,049	$23,861,237	$6,139,667
2021	$18,253,168	$17,652,913	$17,510,446	$600,255
2020	$12,171,689	$11,673,795	$15,710,396	$497,894
2019	$12,179,174	$12,180,102	$15,624,297	$-928
2018	$11,924,603	$9,747,035	$14,555,399	$2,177,568