LAKE TECHNICAL COLLEGE INC: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization: LAKE TECHNICAL COLLEGE INC (EIN 20-0940772)
Tax period: 2022-07-01 to 2023-06-30
Filed: 2024-05-13
IRS object ID: 202441349349307694
Schema version: 2022v5.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule B
Schedule D
Schedule E
Schedule I
Schedule J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2024-05-13T15:44:35-05:00	ReturnTs
Tax Period End	2023-06-30	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	593023516	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	BKHM PA	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	1900 SUMMIT TOWER BLVD STE 170	AddressLine1Txt
City	ORLANDO	CityNm
State Abbreviation	FL	StateAbbreviationCd
ZIP	32810	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2022-07-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	200940772	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	LAKE TECHNICAL COLLEGE INC	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	LAKE	BusinessNameControlTxt
Phone	3525892250	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	2001 KURT STREET	AddressLine1Txt
City	EUSTIS	CityNm
State Abbreviation	FL	StateAbbreviationCd
ZIP	32726	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	RICHARD D KEITH	PersonNm
Person Title	CHAIRMAN OF THE BOARD	PersonTitleTxt
Phone	3525892250	PhoneNum
Signature	2024-05-13	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	RICHARD	PersonFirstNm
Person Last	KEITH	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	0	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	GEORGE K MCNEMAR	PreparerPersonNm
PTIN	P01775038	PTIN
Phone	4079989000	PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	2	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd

Field	Value	IRS element (for citing)
Tax	2022	TaxYr
Build TS	2023-04-26 12:10:37Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	RICHARD D KEITH	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	2001 KURT STREET	AddressLine1Txt
City	EUSTIS	CityNm
State Abbreviation	FL	StateAbbreviationCd
ZIP	32726	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$14,949,575	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Website Address	WWW.LAKETECH.ORG	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	2004	FormationYr
Legal Domicile State	FL	LegalDomicileStateCd
Activity Or Mission	TO MEET THE EDUCATIONAL NEEDS OF THE COMMUNITY BY OFFERING CAREER-TECHNICAL TRAINING OPPORTUNITIES.	ActivityOrMissionDesc
Voting Members Governing Body	9	VotingMembersGoverningBodyCnt
Voting Members Independent	9	VotingMembersIndependentCnt
Total Employee	75	TotalEmployeeCnt
Total Volunteers	0	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$9,787,098	PYContributionsGrantsAmt
CY Contributions Grants	$2,830,175	CYContributionsGrantsAmt
PY Program Service Revenue	$9,808,473	PYProgramServiceRevenueAmt
CY Program Service Revenue	$11,657,481	CYProgramServiceRevenueAmt
PY Investment Income	-$8,731	PYInvestmentIncomeAmt
CY Investment Income	$19,627	CYInvestmentIncomeAmt
PY Other Revenue	$184,876	PYOtherRevenueAmt
CY Other Revenue	$284,590	CYOtherRevenueAmt
PY Total Revenue	$19,771,716	PYTotalRevenueAmt
CY Total Revenue	$14,791,873	CYTotalRevenueAmt
PY Grants And Similar Paid	$1,831,897	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$2,045,690	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$6,816,847	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$8,024,261	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$4,983,305	PYOtherExpensesAmt
CY Other Expenses	$4,588,684	CYOtherExpensesAmt
PY Total Expenses	$13,632,049	PYTotalExpensesAmt
CY Total Expenses	$14,658,635	CYTotalExpensesAmt
PY Revenues Less Expenses	$6,139,667	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$133,238	CYRevenuesLessExpensesAmt
Total Assets BOY	$23,861,237	TotalAssetsBOYAmt
Total Assets EOY	$23,323,054	TotalAssetsEOYAmt
Total Liabilities BOY	$7,147,698	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$6,804,164	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$16,713,539	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$16,518,890	NetAssetsOrFundBalancesEOYAmt
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.	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Expense	$13,871,307	ExpenseAmt
Grant	$2,045,690	GrantAmt
Revenue	$11,942,071	RevenueAmt
Desc	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 2,119 STUDENTS DURING THE FISCAL YEAR ENDED JUNE 30, 2023.	Desc
Total Program Service Expenses	$13,871,307	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (1)	DescribedInSection501c3Ind
Schedule B Required	Yes (1)	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Lobbying Activities	0	LobbyingActivitiesInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	Yes (1)	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (1)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (1)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	Yes (1)	ConsolidatedAuditFinclStmtInd
School Operating	Yes (1)	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	0	GrantsToOrganizationsInd
Grants To Individuals	Yes (1)	GrantsToIndividualsInd
Schedule J Required	Yes (1)	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Engaged In Excess Benefit Trans	0	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	0	PYExcessBenefitTransInd
Loan Outstanding	0	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	0	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	19	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	75	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	0	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Quid Pro Quo Contributions	0	QuidProQuoContributionsInd
Form8282 Property Disposed Of	0	Form8282PropertyDisposedOfInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	9	GoverningBodyVotingMembersCnt
Independent Voting Member	9	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	0	MembersOrStockholdersInd
Election Of Board Members	0	ElectionOfBoardMembersInd
Decisions Subject To Approva	0	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	Yes (1)	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	LORRAINE FOSTER	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	3525892250	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	2001 KURT STREET	AddressLine1Txt
City	EUSTIS	CityNm
State Abbreviation	FL	StateAbbreviationCd
ZIP	32726	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt
RICHARD D KEITH
CHAIRMAN OF THE BOARD	0.50	Yes (X)	Yes (X)	$0	$0	$0
ISAAC DEAS II
VICE-PRESIDENT	0.50	Yes (X)	Yes (X)	$0	$0	$0
LANA PAYNE
SECRETARY	0.50	Yes (X)	Yes (X)	$0	$0	$0
LORRAINE FOSTER
TREASURER	0.50	Yes (X)	Yes (X)	$0	$0	$0
DAVE STEELE
BOARD MEMBER	0.50	Yes (X)		$0	$0	$0
CA VOSSBERG
BOARD MEMBER	0.50	Yes (X)		$0	$0	$0
JUDY BEDA
BOARD MEMBER	0.50	Yes (X)		$0	$0	$0
MICKEY GAULDIN
BOARD MEMBER	0.50	Yes (X)		$0	$0	$0
TIM MORRIS
BOARD MEMBER	0.50	Yes (X)		$0	$0	$0
GERALD COBB
BOARD MEMBER	0.50	Yes (X)		$0	$0	$0
CHUCK BROADWAY
BOARD MEMBER	0.50	Yes (X)		$0	$0	$0
DEANNA THOMAS
EXECUTIVE DIRECTOR	40.00		Yes (X)	$130,000	$0	$37,765

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$130,000	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$37,765	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	2	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (1)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K	0	CntrctRcvdGreaterThan100KCnt
Government Grants	$2,830,175	GovernmentGrantsAmt
Total Contributions	$2,830,175	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp (5 entries)

DescDesc	BusinessBusinessCd	Total Revenue ColumnTotalRevenueColumnAmt	Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
WORKFORCE DEVELOPMENT	900099	$5,402,658	$5,402,658
TUITION AND OTHER FEES	900099	$4,173,204	$4,173,204
SCHOLARSHIPS	900099	$1,315,228	$1,315,228
PERFORMANCE BASED INCENTIVES	900099	$319,336	$319,336
CUSTOMER SERVICE FEES	900099	$248,689	$248,689

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$198,366	TotalRevenueColumnAmt
Related Or Exempt Func Income	$198,366	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$11,657,481	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$19,627	TotalRevenueColumnAmt
Exclusion	$19,627	ExclusionAmt

Field	Value	IRS element (for citing)
Gross Sales Of Inventory	$221,290	GrossSalesOfInventoryAmt
Cost Of Goods Sold	$157,702	CostOfGoodsSoldAmt

Net Income Or Loss NetIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$63,588	TotalRevenueColumnAmt
Related Or Exempt Func Income	$63,588	RelatedOrExemptFuncIncomeAmt

Other Revenue Misc OtherRevenueMiscGrp

Field	Value	IRS element (for citing)
Desc	MISCELLANEOUS INCOME	Desc
Business	900099	BusinessCd
Total Revenue Column	$221,002	TotalRevenueColumnAmt
Related Or Exempt Func Income	$221,002	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$221,002	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$14,791,873	TotalRevenueColumnAmt
Related Or Exempt Func Income	$11,942,071	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$19,627	ExclusionAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$2,045,690	TotalAmt
Program Services	$2,045,690	ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$200,375	TotalAmt
Program Services	$189,892	ProgramServicesAmt
Management And General	$10,483	ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$6,324,471	TotalAmt
Program Services	$5,903,870	ProgramServicesAmt
Management And General	$420,601	ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$621,811	TotalAmt
Program Services	$567,676	ProgramServicesAmt
Management And General	$54,135	ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$548,260	TotalAmt
Program Services	$512,019	ProgramServicesAmt
Management And General	$36,241	ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$329,344	TotalAmt
Program Services	$306,181	ProgramServicesAmt
Management And General	$23,163	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$85,330	TotalAmt
Program Services	$42,665	ProgramServicesAmt
Management And General	$42,665	ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$179,772	TotalAmt
Program Services	$163,020	ProgramServicesAmt
Management And General	$16,752	ManagementAndGeneralAmt

Information Technology InformationTechnologyGrp

Field	Value	IRS element (for citing)
Total	$156,948	TotalAmt
Program Services	$146,714	ProgramServicesAmt
Management And General	$10,234	ManagementAndGeneralAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$514,839	TotalAmt
Program Services	$468,450	ProgramServicesAmt
Management And General	$46,389	ManagementAndGeneralAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$40,577	TotalAmt
Program Services	$35,391	ProgramServicesAmt
Management And General	$5,186	ManagementAndGeneralAmt

Interest InterestGrp

Field	Value	IRS element (for citing)
Total	$2,333	TotalAmt
Program Services	$1,516	ProgramServicesAmt
Management And General	$817	ManagementAndGeneralAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$609,033	TotalAmt
Program Services	$603,208	ProgramServicesAmt
Management And General	$5,825	ManagementAndGeneralAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$111,927	TotalAmt
Program Services	$38,908	ProgramServicesAmt
Management And General	$73,019	ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt	Management And GeneralManagementAndGeneralAmt
NON-CAPITALIZABLE SUPPL	$1,462,177	$1,444,358	$17,819
MISCELLANEOUS EXPENSES	$1,020,392	$1,015,264	$5,128
DUES AND FEES	$165,662	$157,793	$7,869
REPAIRS AND MAINTENANCE	$158,652	$151,507	$7,145

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$81,042	TotalAmt
Program Services	$77,185	ProgramServicesAmt
Management And General	$3,857	ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$14,658,635	TotalAmt
Program Services	$13,871,307	ProgramServicesAmt
Management And General	$787,328	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$13,817,870	BOYAmt
EOY	$10,577,998	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$1,637,309	BOYAmt
EOY	$3,626,181	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$278,164	BOYAmt
EOY	$565,201	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$914	BOYAmt
EOY	$914	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$9,303,773	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$2,241,874	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$6,797,398	BOYAmt
EOY	$7,061,899	EOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$1,329,582	BOYAmt
EOY	$1,490,861	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$23,861,237	BOYAmt
EOY	$23,323,054	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$70,466	BOYAmt
EOY	$130,642	EOYAmt

Deferred Revenue DeferredRevenueGrp

Field	Value	IRS element (for citing)
BOY	$272,868	BOYAmt
EOY	$245,556	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$6,804,364	BOYAmt
EOY	$6,427,966	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$7,147,698	BOYAmt
EOY	$6,804,164	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$15,071,455	BOYAmt
EOY	$9,505,920	EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,642,084	BOYAmt
EOY	$7,012,970	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$16,713,539	BOYAmt
EOY	$16,518,890	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$23,861,237	BOYAmt
EOY	$23,323,054	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	$133,238	ReconcilationRevenueExpnssAmt
Other Changes In Net Assets	-$327,887	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	Yes (1)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (1)	AuditCommitteeInd
Federal Grant Audit Required	Yes (1)	FederalGrantAuditRequiredInd
Federal Grant Audit Performed	Yes (1)	FederalGrantAuditPerformedInd

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
School	Yes (X)	SchoolInd

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	RESTRICTED	ContributorNum

Contributor Business Name ContributorBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	RESTRICTED	AddressLine1
Address Line2	RESTRICTED	AddressLine2
City	RESTRICTED	City
State	RESTRICTED	State
ZIP Code	RESTRICTED	ZIPCode

Field	Value	IRS element (for citing)
Total Contributions	RESTRICTED	TotalContributionsAmt

Schedule D IRS990ScheduleD

Land LandGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$22,000	OtherCostOrOtherBasisAmt
Book Value	$22,000	BookValueAmt

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$5,277,648	OtherCostOrOtherBasisAmt
Depreciation	$764,407	DepreciationAmt
Book Value	$4,513,241	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$2,921,322	OtherCostOrOtherBasisAmt
Depreciation	$1,111,937	DepreciationAmt
Book Value	$1,809,385	BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,082,803	OtherCostOrOtherBasisAmt
Depreciation	$365,530	DepreciationAmt
Book Value	$717,273	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$7,061,899	TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (3 entries)

DescDesc	Book ValueBookValueAmt
FRS DEFERRED OUTFLOW	$1,279,891
HIS DEFERRED OUTFLOW	$191,009
OPEB DEFERRED OUTFLOW	$19,961

Field	Value	IRS element (for citing)
Total Book Value Other Assets	$1,490,861	TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (9 entries)

DescDesc	AmtAmt
DUE TO DISTRICT	$818,068
COMPENSATED ABSENCES PAYABLE	$758,569
PENSION DEFERRED INFLOWS	$37,247
FRS PENSION LIABILITY	$3,080,681
HIS PENSION LIABILITY	$1,161,971
OPEB LIABILITY	$192,970
OPEB DEFERRED OUTLFOWS	$107,631
HIS DEFERRED INFLOW	$208,110
CAPITAL LEASE OBLIGATION	$62,719

Field	Value	IRS element (for citing)
Total Liability	$6,427,966	TotalLiabilityAmt
Footnote Text	Yes (X)	FootnoteTextInd
Total Rev Etc Audited Fincl Stmt	$13,695,632	TotalRevEtcAuditedFinclStmtAmt
Other Revenue	$218,987	OtherRevenueAmt
Revenue Not Reported	$218,987	RevenueNotReportedAmt
Revenue Subtotal	$13,476,645	RevenueSubtotalAmt
Other Revenues Not Included	$1,315,228	OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt	$1,315,228	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$14,791,873	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$13,562,395	TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included	$218,987	OtherExpensesIncludedAmt
Expenses Not Reported	$218,987	ExpensesNotReportedAmt
Expenses Subtotal	$13,343,408	ExpensesSubtotalAmt
Other Expenses Not Included	$1,315,228	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$1,315,228	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$14,658,636	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
PART X, LINE 2:	THE SCHOOL IS AN ORGANIZATION EXEMPT FROM INCOME TAXATION UNDER SECTION 501(A) AS AN ENTITY DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL HAS ADOPTED GUIDANCE RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION THAT AN ENTITY TAKES OR EXPECTS TO TAKE IN A TAX RETURN. THIS GUIDANCE IS APPLICABLE TO NOT-FOR-PROFIT ORGANIZATIONS THAT MAY BE CONDUCTING UNRELATED BUSINESS ACTIVITIES, WHICH ARE POTENTIALLY SUBJECT TO INCOME TAXES, INCLUDING STATE INCOME TAXES. THE SCHOOL ASSESSES ITS INCOME TAX POSITIONS, INCLUDING ITS CONTINUING TAX STATUS AS A NOT-FOR-PROFIT ENTITY, AND RECOGNIZES TAX BENEFITS ONLY TO THE EXTENT THAT THE SCHOOL BELIEVES IT IS "MORE LIKELY THAN NOT" THAT ITS TAX POSITIONS WILL BE SUSTAINED UPON AN EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS") OR THE APPLICABLE STATE TAXING AUTHORITY. ACCORDINGLY, THERE IS NO PROVISION FOR FEDERAL INCOME TAXES IN THE SCHOOL'S FINANCIAL STATEMENTS, AS THE SCHOOL BELIEVES ALL TAX POSITIONS, INCLUDING ITS CONTINUING STATUS AS A NOT-FOR-PROFIT ENTITY, HAVE A GREATER THAN 50% CHANCE OF REALIZATION IN THE EVENT OF AN IRS AUDIT. STATE INCOME TAXES, WHICH MAY BE DUE IN CERTAIN JURISDICTIONS, HAVE BEEN ASSESSED FOLLOWING THE SAME "MORE LIKELY THAN NOT" MEASUREMENT THRESHOLD.
PART XI, LINE 2D - OTHER ADJUSTMENTS:	PASSTHROUGH ADMIN FEES 61,285. COST OF BOOKSTORE SALES 157,702.
PART XI, LINE 4B - OTHER ADJUSTMENTS:	SCHOLARSHIPS 1,260,053. CONTRIBUTIONS 55,175.
PART XII, LINE 2D - OTHER ADJUSTMENTS:	PASSTHROUGH ADMIN FEES 61,285. COST OF BOOKSTORE SALES 157,702.
PART XII, LINE 4B - OTHER ADJUSTMENTS:	SCHOLARSHIPS 1,260,053. CONTRIBUTIONS 55,175.

Schedule E IRS990ScheduleE

Field	Value	IRS element (for citing)
Nondiscriminatory Policy Stmt	Yes (1)	NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures Etc	Yes (1)	PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast Media	Yes (1)	PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp Recs	Yes (1)	MaintainRacialCompRecsInd
Maintain Scholarships Recs	Yes (1)	MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures Etc	Yes (1)	MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All Sol	Yes (1)	MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts	0	DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy	0	DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty	0	DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs	0	DiscriminateRaceSchsInd
Discriminate Race Educ Plcy	0	DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts	0	DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog	0	DiscriminateRaceAthltProgInd
Discriminate Race Other Acty	0	DiscriminateRaceOtherActyInd
Government Financial Aid Rcvd	Yes (1)	GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd	0	GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550	Yes (1)	ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc

ExplanationExplanationTxt

SCHEDULE E, PART I, LINE 3

THE ORGANIZATION PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH BROCHURES, NEWSLETTERS, LOCAL NEIGHBORHOOD EVENTS, NEWSPAPERS, OPEN HOUSES, WEBSITES AND/OR VIDEOS.

SCHEDULE E, PART I, LINE 6

REVENUES ARE RECEIVED FROM THE FLORIDA DEPARTMENT OF EDUCATION UNDER THE FLORIDA EDUCATION FINANCE PROGRAM AND THE WORKFORCE DEVELOPMENT PROGRAM. THE MAJORITY OF THE SCHOOLS FUNDING IS RECEIVED THROUGH THE WORKFORCE DEVELOPMENT PROGRAM. THE AMOUNTS RECEIVED ARE BASED ON A THREE YEAR AVERAGE OF ENROLLMENT HOURS. THE SCHOOL RECEIVES ADDITIONAL FUNDING FROM THE WORKFORCE DEVELOPMENT PROGRAM THROUGH A PERFORMANCE INCENTIVE FUND WHEN THE STUDENTS OBTAIN SPECIFIC INDUSTRY CERTIFICATIONS. THE SCHOOL ALSO PARTICIPATES IN PELL TITLE IV PROGRAM.

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (1)	GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (2 entries)

Grant TypeGrantTypeTxt	RecipientRecipientCnt	Cash GrantCashGrantAmt
PELL GRANTS FOR STUDENTS ATTENDING LAKE TECHNICAL COLLEGE, INC.	544	$730,462
SCHOLARSHIPS FOR STUDENTS ATTENDING LAKE TECHNICAL COLLEGE, INC.	526	$1,315,228

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART I, LINE 2:	FormAndLineReferenceDesc
Explanation	LAKE TECHNICAL COLLEGE, INC. PREPARES ANNUAL BUDGETS AND MONITORS COSTS ON A MONTHLY BASIS. MOST DISBURSEMENTS TO STUDENTS FOR SCHOLARSHIPS ARE DONE BY THE SCHOOL, WITH A SMALL AMOUNT OF STATE-FUNDED SCHOLARSHIPS REIMBURSED BY THE DISTRICT AFTER THE SCHOOL SUBMITS PURCHASE ORDERS AND OTHER REQUIRED DOCUMENTATION. THEREFORE, THERE IS ANOTHER LAYER OF REVIEW AND APPROVAL FOR ALLOWABLE COSTS.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Severance Payment	0	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	0	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	0	EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org	0	CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs	0	CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org	0	CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs	0	CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments	0	AnyNonFixedPaymentsInd
Initial Contract Exception	0	InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp

Field	Value	IRS element (for citing)
Person	DEANNA THOMAS	PersonNm
Title	EXECUTIVE DIRECTOR	TitleTxt
Base Compensation Filing Org	$130,000	BaseCompensationFilingOrgAmt
Compensation Based On Rltd Orgs	$0	CompensationBasedOnRltdOrgsAmt
Bonus Filing Organization	$0	BonusFilingOrganizationAmount
Bonus Related Organizations	$0	BonusRelatedOrganizationsAmt
Other Compensation Filing Org	$0	OtherCompensationFilingOrgAmt
Other Compensation Rltd Orgs	$0	OtherCompensationRltdOrgsAmt
Deferred Compensation Flng Org	$0	DeferredCompensationFlngOrgAmt
Deferred Comp Rltd Orgs	$0	DeferredCompRltdOrgsAmt
Nontaxable Benefits Filing Org	$37,765	NontaxableBenefitsFilingOrgAmt
Nontaxable Benefits Rltd Orgs	$0	NontaxableBenefitsRltdOrgsAmt
Total Compensation Filing Org	$167,765	TotalCompensationFilingOrgAmt
Total Compensation Rltd Orgs	$0	TotalCompensationRltdOrgsAmt
Comp Report Prior990 Filing Org	$0	CompReportPrior990FilingOrgAmt
Comp Report Prior990 Rltd Orgs	$0	CompReportPrior990RltdOrgsAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11B	THE ORGANIZATION WAS PROVIDED A COPY OF FORM 990 FOR THEIR DETAIL REVIEW PRIOR TO FILING. THE EXECUTIVE DIRECTOR, ASSISTANT DIRECTOR OF FINANCE, BUSINESS MANAGER AND THE CHARTER BOARD OF DIRECTORS REVIEW THE RETURN PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12C	THE BOARD MEMBERS ARE REQUIRED TO COMPLETE A STATE OF FLORIDA FORM (FORM 8B MEMORANDUM OF VOTING CONFLICT) WHEN A CONFLICT OF INTEREST IS BROUGHT UP AT A BOARD MEETING.
FORM 990, PART VI, SECTION B, LINE 15	THE SALARIES OF ALL EMPLOYEES ARE SET BY THE SCHOOL BOARD OF LAKE COUNTY, AND ANY CHANGE IN COMPENSATION IS SUBJECT TO REVIEW AND APPROVAL BY THE SCHOOL BOARD OF LAKE COUNTY.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART XI, LINE 9:	REVERSING PRIOR PERIOD CUSTODIAL - NET ASSETS ADJUSTMENTS -327,887.
FORM 990, PART I, LINE 5	THE RELATIONSHIP BETWEEN THE LAKE TECHNICAL COLLEGE AND THE LAKE COUNTY SCHOOL DISTRICT REQUIRES THE EMPLOYEES WORKING AT THE SCHOOL TECHNICALLY BE EMPLOYEES OF THE SCHOOL DISTRICT. AS SUCH, ALL PAYROLL AND PAYROLL RELATED COSTS ARE PROCESSED AND PAID BY THE SCHOOL DISTRICT. THESE EXPENSES ARE THEN REIMBURSED BY THE SCHOOL TO THE SCHOOL DISTRICT ON A DOLLAR FOR DOLLAR BASIS. REIMBURSEMENTS PAID TO THE LAKE COUNTY SCHOOL DISTRICT FOR PAYROLL AND RELATED BENEFITS TOTALED $8,024,260 FOR THE YEAR. THERE ARE APPROXIMATELY 75 EMPLOYEES OF THE LAKE COUNTY SCHOOL DISTRICT WORKING AT THE LAKE TECHNICAL COLLEGE. THIS IS THE REASON THERE ARE ZERO EMPLOYEES OF LAKE TECHNICAL COLLEGE REPORTED ON PART I, LINE 5.
FORM 990, PART XI, LINE 9	ADJUSTMENT ON PART XI LINE 8 DUE TO THE ADOPTION OF GOVERNMENTAL ACCOUNTING STANDARDS BOARD ISSUED STATEMENT NO. 84, FIDUCIARY ACTIVITIES ("GASB 84"). THIS IMPROVES GUIDANCE REGARDING THE IDENTIFICATION OF FIDUCIARY ACTIVITIES FOR ACCOUNTING AND FINANCIAL REPORTING PURPOSES AND HOW THOSE ACTIVITIES SHOULD BE REPORTED. A $68,385 PRIOR PERIOD ADJUSTMENT IS DUE TO THE IDENTIFICATION OF THESE FIDUCIARY ACTIVITIES UNDER THE NEW STANDARD.