Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $136,500

• 1f · All other contributions, gifts and grants

  $11,899,664

• 1g · Noncash contributions included above

  $7,089,271

• 3 · Investment income

  total $425,442 · excluded $425,442

• 7a · Gross sales of assets other than inventory

  securities $7,564,590

• 7b · Less cost or other basis and sales expenses

  securities $7,564,943

• 7c · Gain or loss

  securities -$353

• 7d · Net gain or loss

  total -$353 · excluded -$353

• 8a · Fundraising events: gross income

  $1,218,223

• 8a · Fundraising events: contributions included on line 1c

  $136,500

• 8b · Fundraising events: direct expenses

  $306,619

• 8c · Net income from fundraising events

  total $911,604 · excluded $911,604

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $4,000 · related or exempt $4,000

• 11e · Other revenue, total

  $4,000

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,822,743 · program services $1,822,743

• 2 · Grants to domestic individuals

  total $2,679 · program services $2,679

• 5 · Compensation of officers, directors and key employees

  total $517,302 · program services $240,447 · management and general $114,476 · fundraising $162,379

• 7 · Other salaries and wages

  total $239,395 · program services $111,273 · management and general $52,977 · fundraising $75,145

• 8 · Pension plan contributions

  total $32,777 · program services $7,405 · management and general $20,992 · fundraising $4,380

• 9 · Other employee benefits

  total $94,847 · program services $25,713 · management and general $52,754 · fundraising $16,380

• 10 · Payroll taxes

  total $71,675 · program services $19,743 · management and general $37,758 · fundraising $14,174

• 11b · Fees: legal

  total $12,489 · management and general $12,489

• 11c · Fees: accounting

  total $63,640 · management and general $63,640

• 11f · Fees: investment management

  total $54,932 · management and general $54,932

• 11g · Fees: other

  total $331,321 · program services $79,966 · management and general $76,182 · fundraising $175,173

• 12 · Advertising and promotion

  total $32,237 · program services $3,122 · fundraising $29,115

• 13 · Office expenses

  total $86,218 · program services $5,371 · management and general $67,837 · fundraising $13,010

• 16 · Occupancy

  total $7,167,565 · program services $7,123,708 · management and general $42,464 · fundraising $1,393

• 17 · Travel

  total $54,237 · program services $8 · management and general $5,113 · fundraising $49,116

• 19 · Conferences, conventions and meetings

  total $6,584 · program services $2,500 · management and general $2,679 · fundraising $1,405

• 22 · Depreciation, depletion and amortization

  total $1,523,648 · program services $1,523,465 · management and general $183

• 23 · Insurance

  total $41,331 · management and general $41,331

• 24a · Other expenses: STUDENT SUPPORT PROGRAM

  total $257,078 · program services $257,078

• 24b · Other expenses: OTHER EXPENSES

  total $120,296 · program services $30,053 · management and general $17,187 · fundraising $73,056

• 24c · Other expenses: UNIFORMS

  total $50,000 · fundraising $50,000

• 24d · Other expenses: PRIZES & AWARDS

  total $28,563 · program services $5,314 · fundraising $23,249

• 24e · All other expenses

  total $27,136 · program services $17,438 · management and general $9,698

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,645,939 · end of year $1,702,585

• 2 · Savings and temporary cash investments

  beginning of year $799,921 · end of year $1,077,594

• 3 · Pledges and grants receivable

  beginning of year $1,473,000 · end of year $804,000

• 4 · Accounts receivable

  beginning of year $134,454 · end of year $85,191

• 7 · Other notes and loans receivable

  beginning of year $500,000 · end of year $500,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,037 · end of year $6,500

• 10a · Land, buildings and equipment: cost or other basis

  $57,982,993

• 10b · Land, buildings and equipment: accumulated depreciation

  $6,011,979

• 10c · Land, buildings and equipment, net

  beginning of year $53,484,430 · end of year $51,971,014

• 11 · Investments: publicly traded securities

  beginning of year $10,497,966 · end of year $13,406,142

• 17 · Accounts payable and accrued expenses

  beginning of year $359,011 · end of year $236,962

• 18 · Grants payable

  beginning of year $1,500,000 · end of year $1,080,000

• 25 · Other liabilities

  beginning of year $124,626 · end of year $60,000

• 27 · Net assets without donor restrictions

  beginning of year $64,601,588 · end of year $66,655,360

• 28 · Net assets with donor restrictions

  beginning of year $1,951,522 · end of year $1,520,704

The filer's explanations (Part III)

PART I, LINE 7

DISCRETIONARY BONUSES ARE AWARDED TO OFFICERS BASED ON ANNUAL PERFORMANCE. THESE BONUSES ARE TREATED AS TAXABLE COMPENSATION REPORTABLE ON THE FORMS W-2 AND FORM 990.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• EDUCATIONAL REAL ESTATE LLC

  OWNERSHIP OF A SEC. 501(C)(3) JR. AND SR. ACADEMY · GA · income $0 · assets $55,165,822

  Directly controlled by EAST LAKE FOUNDATION INC

• EDUCATIONAL REAL ESTATE II LLC

  HOLDS LEASES OF REAL PROPERTY · GA · income $0 · assets $0

  Directly controlled by EAST LAKE FOUNDATION INC