LAKE TECHNICAL COLLEGE INC

EIN: 200940772 501(c)(3) Education

EUSTIS, FL

Total Revenue
$21,665,460
Total Expenses
$18,665,580
Total Assets
$25,338,722
Net Assets
$17,770,867
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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
FL
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 CAREER-TECHNICAL TRAINING OPPORTUNITIES.

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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%)

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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

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Governance

Voting Members
7
Independent Members
7
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
5
$176,883
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
2
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
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