GREAT LAKES ACADEMY SUPPORT CORPORATION

EIN: 853256985 501(c)(3) Education

CHICAGO, IL

Total Revenue
$454,800
Total Expenses
$621,270
Total Assets
$14,850,042
Net Assets
$988,154
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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
2020
Legal Domicile
IL
Principal Officer
EBONIE DURHAM
Phone
7735303040
Tax Period
2022-07-01 to 2023-06-30

GREAT LAKES ACADEMY SUPPORT CORPORATION, founded in 2020, is a small nonprofit in the Education sector that reported $455K in total revenue in fiscal year 2022. Expenses of $621K exceeded revenue, resulting in a 37% operating deficit.

Mission

THE CORPORATION IS ORGANIZED AND WILL BE OPERATED AT ALL TIMES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND/OR TO CARRY OUT THE PURPOSES OF GREAT LAKES ACADEMY INC

Program Service Accomplishments

Program 1
Expenses: $559,125 Revenue: $454,800

GREAT LAKES ACADEMY SUPPORT CORPORATION IS A SUPPORTING ORGANIZATION FOR GREAT LAKES ACADEMY INC. AND ITS SOLE PURPOSE IS TO CONSTRUCT AND LEASE A NEW SCHOOL BUILDING TO GREAT LAKES ACADEMY INC., THE...

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GREAT LAKES ACADEMY SUPPORT CORPORATION IS A SUPPORTING ORGANIZATION FOR GREAT LAKES ACADEMY INC. AND ITS SOLE PURPOSE IS TO CONSTRUCT AND LEASE A NEW SCHOOL BUILDING TO GREAT LAKES ACADEMY INC., THE SOLE MEMBER OF SUPPORT CORP.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $454,800
Investment Income $0
Other Revenue $0
TOTAL REVENUE $454,800

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $13
Program Expenses $559,125
Other Expenses $621,270
TOTAL EXPENSES $621,270

Year-over-Year Comparison

2022 2021 Change
Revenue $454,800 $454,875 0.0%
Expenses $621,270 $469,007 +0.3%
Net Income $-166,470 $-14,132 +10.8%
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
5
Independent Members
5
Employees
N/A
Volunteers
150

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
3
$139,163
Total Directors
5
$139,163
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATHERINE MYERS-CRUM PRESIDENT 3.00
Officer Director
$0 $0 $6,462
MICHAEL MESTERHARM TREASURER 3.00
Officer Director
$0 $6,807 $132,701
JOHN WASHINGTON SECRETARY 3.00
Officer Director
$0 $0 $0
STEVE KRAUS DIRECTOR 3.00
Director
$0 $0 $0
MELANIE HARMON DIRECTOR 3.00
Director
$0 $0 $0
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 No data No data No data No data
2024 No data No data No data No data
2023 $454,800 $621,270 $14,850,042 $-166,470
2022 $454,875 $469,007 $14,934,740 $-14,132
2021 $6,549 $1,971,802 $14,642,533 $-1,965,253
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