Civic Intelligence

Light House Academy Inc.

990 • Fiscal year 2022 • EIN 54-2117031

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

Organization ProfileWWW.LHOUSEACADEMY.COM
PO Box 9853Peoria, IL 61612-9853

(309) 691-3242

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

72nd percentile

0.25x

Higher debt load relative to assets than 72% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

86th percentile

0.89x

Higher debt load relative to revenue than 86% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

78th percentile

28%

Higher net margin than 78% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

38th percentile

-2.3%

Faster asset growth than 38% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

85th percentile

65%

Faster revenue growth than 85% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$1,042,789

Down $24,729 (-2.3%) from 2021

Net Assets

Up

$784,775

Up $80,917 (+11%) from 2021

Liabilities

Down

$258,014

Down $105,646 (-29%) from 2021

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin78th percentile

Revenue

Up

$291,130

Up $114,174 (+65%) from 2021

Expenses

Up

$210,213

Up $25,969 (+14%) from 2021

Net Income

Up

$80,917

Up $88,205 (+1210%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2009: $466,805Liabilities 2009: $5,883Net Assets 2009: $460,9222009Assets 2010: $458,528Liabilities 2010: $9,324Net Assets 2010: $449,2042010Assets 2011: $449,769Liabilities 2011: $22,064Net Assets 2011: $427,7052011Assets 2013: $624,180Liabilities 2013: $65,421Net Assets 2013: $558,7592013Assets 2014: $689,362Liabilities 2014: $48,089Net Assets 2014: $641,2732014Assets 2015: $631,253Liabilities 2015: $6,864Net Assets 2015: $624,3892015Assets 2016: $616,494Liabilities 2016: $6,372Net Assets 2016: $610,1222016Assets 2017: $713,589Liabilities 2017: $7,665Net Assets 2017: $705,9242017Assets 2018: $1,100,783Liabilities 2018: $371,444Net Assets 2018: $729,3392018Assets 2019: $1,028,460Liabilities 2019: $359,640Net Assets 2019: $668,8202019Assets 2020: $1,076,180Liabilities 2020: $365,034Net Assets 2020: $711,1462020Assets 2021: $1,067,518Liabilities 2021: $363,660Net Assets 2021: $703,8582021Assets 2022: $1,042,789Liabilities 2022: $258,014Net Assets 2022: $784,7752022Assets 2023: $1,009,221Liabilities 2023: $259,770Net Assets 2023: $749,4512023Assets 2024: $975,593Liabilities 2024: $259,844Net Assets 2024: $715,7492024

Highlighted filing

2022

Assets$1,042,789
Liabilities$258,014
Net Assets$784,775
Open 2022 Filing

Operations Trend

Revenue Growth85th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KRevenue 2009: $108,180Expenses 2009: $138,078Net Income 2009: -$29,8982009Revenue 2010: $128,499Expenses 2010: $140,217Net Income 2010: -$11,7182010Revenue 2011: $116,018Expenses 2011: $137,517Net Income 2011: -$21,4992011Revenue 2013: $233,946Expenses 2013: $157,783Net Income 2013: $76,1632013Revenue 2014: $253,921Expenses 2014: $171,407Net Income 2014: $82,5142014Revenue 2015: $169,537Expenses 2015: $186,421Net Income 2015: -$16,8842015Revenue 2016: $167,195Expenses 2016: $181,462Net Income 2016: -$14,2672016Revenue 2017: $267,202Expenses 2017: $171,400Net Income 2017: $95,8022017Revenue 2018: $240,090Expenses 2018: $164,889Net Income 2018: $75,2012018Revenue 2019: $116,844Expenses 2019: $177,363Net Income 2019: -$60,5192019Revenue 2020: $208,033Expenses 2020: $165,707Net Income 2020: $42,3262020Revenue 2021: $176,956Expenses 2021: $184,244Net Income 2021: -$7,2882021Revenue 2022: $291,130Expenses 2022: $210,213Net Income 2022: $80,9172022Revenue 2023: $187,762Expenses 2023: $223,086Net Income 2023: -$35,3242023Revenue 2024: $206,881Expenses 2024: $240,583Net Income 2024: -$33,7022024

Highlighted filing

2022

Revenue$291,130
Expenses$210,213
Net Income$80,917
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$294,004
Mission and Program Overview

Mission

To provide an educationally sound christian school for students in kindergarten through ninth grade

To provide a solid christian academic education within a biblical worldview context and to partner with families to prepare students to become well- disciplined and outstanding citizens who positively reflect christ to all in their sphere of influence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$919,213$914,246▼ $4,967
Rtn Earn Endowment Incm Other Fnds$703,858$784,775▲ $80,917
Savings and Temporary Cash Investments$133,218$109,736▼ $23,482
Loans From Officers Directors$25,000$25,000→ $0
Cash and Non-Interest-Bearing Accounts$7,850$9,803▲ $1,953
Accounts Receivable$7,237$9,004▲ $1,767
Total Assets$1,067,518$1,042,789▼ $24,729
Liabilities
Unsecured Notes Loans Payable$255,000$155,000▼ $100,000
Mortgage Notes Payable Secured by Investment Property$70,000$70,000→ $0
Deferred Revenue$9,330$5,089▼ $4,241
Accounts Payable and Accrued Expenses$4,330$2,925▼ $1,405
Total Liabilities$363,660$258,014▼ $105,646
Net Assets / Fund Balance
Total Net Assets Fund Balance$703,858$784,775▲ $80,917
Total Liabilities and Net Assets / Fund Balance$1,067,518$1,042,789▼ $24,729

Asset Categories

AssetBook ValueDepreciationBasis
Land$542,852-$542,852
Buildings$350,678$43,361$394,039
Other Land Buildings$20,716$43,036$63,752
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
David WeidnerPresident
Bruce StollerSecretary
Curt RassiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$200,957
Program Service Revenue
$66,755
Investment Income
$110
Other Revenue
$23,308
All Other Contributions
$200,957
Change in Net Assets
$80,917

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$100,000Principal of Note
Securities Publicly Traded1$984Treasury Reg 25.2031-2
Total Noncash Contributions2$100,984-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$155,052
Other Expenses$55,161
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$137,138$6,500-$143,638
Occupancy$12,222--$12,222
Depreciation Depletion$10,888$1,040-$11,928
Payroll Taxes$10,897$517-$11,414
Advertising$9,350--$9,350
Insurance$3,683$1,228-$4,911
Information Technology$3,810$694-$4,504
Other Expenses$4,475--$4,475
Interest$3,029$1,010-$4,039
Fees for Services Accounting$2,070$690-$2,760
Office Expenses$817$145-$962
Fees for Services Other$10--$10
Total Functional Expenses$198,389$11,824$0$210,213
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$22,190
Fundraising Direct Expenses$1,890
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Fundrais$22,190$22,190$1,890$20,300
Total Events$22,190$22,190$1,890$20,300
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$25,000$25,000→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Officer review and approval prior to submission”

Form 990, Page 6, Part VI, Line 19

“Governing documents available upon request”

Filing and Contact Details

Filer

Filer Name
Light House Academy
EIN
54-2117031
Phone
3096913242
Address
PO BOX 9853, PEORIA, IL 61612-9853

Signing Officer

Name
Curt Rassi
Title
Treasurer
Phone
2178773344
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Weidner
Formed
2003
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
3
Employees
6
Volunteers
13

Preparer

Firm
Gorenz and Associates Ltd
Address
4200 N KNOXVILLE AVE, PEORIA, IL 61614
Preparer
Russell J Rumbold Ii CPA
Phone
3096857621
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To provide a solid christian academic education within a biblical worldview context and to partner with families to prepare students to become well- disciplined and outstanding citizens who positively reflect christ to all in their sphere of influence.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0POLICY IS CONTAINED ON WEBSITE AND HANDBOOK OF POLICIES AND PROCEDURES.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt01890
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ANNUAL FUNDRAIS
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt022190
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt022190
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt022190
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt022190
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt020300
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt01890
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt01890
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt025000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0PURCHASE BUILDING
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt025000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0CURT RASSI
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0OFFICER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/TotalBalanceDueAmt025000
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0NOTE FORGIVEN
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0PRINCIPAL OF NOTE
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt0100000
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt01
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0TREASURY REG 25.2031-2
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt0984
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE A SOLID CHRISTIAN ACADEMIC EDUCATION WITHIN A BIBLICAL WORLDVIEW CONTEXT AND TO PARTNER WITH FAMILIES TO PREPARE STUDENTS TO BECOME WELL- DISCIPLINED AND OUTSTANDING CITIZENS WHO POSITIVELY REFLECT CHRIST TO ALL IN THEIR SPHERE OF INFLUENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICER REVIEW AND APPROVAL PRIOR TO SUBMISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01067518
IRS990/TotalAssetsEOYAmt01042789
IRS990/TotalAssetsGrp/BOYAmt01067518
IRS990/TotalAssetsGrp/EOYAmt01042789
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0200957
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt011824
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0198389
IRS990/TotalFunctionalExpensesGrp/TotalAmt0210213
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0363660
IRS990/TotalLiabilitiesEOYAmt0258014
IRS990/TotalLiabilitiesGrp/BOYAmt0363660
IRS990/TotalLiabilitiesGrp/EOYAmt0258014
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0703858
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0784775
IRS990/TotalProgramServiceExpensesAmt0198389
IRS990/TotalProgramServiceRevenueAmt066755
IRS990/TotalRevenueGrp/ExclusionAmt020410
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt069763
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0291130
IRS990/TotalVolunteersCnt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01067518
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01042789
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0255000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0155000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02322 W WILLOW KNOLLS DR
IRS990/USAddress/CityNm0PEORIA
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd061614
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.LHOUSEACADEMY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CURT RASSI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02178773344
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LIGHT HOUSE ACADEMY
ReturnHeader/Filer/BusinessNameControlTxt0LIGH
ReturnHeader/Filer/EIN0542117031
ReturnHeader/Filer/PhoneNum03096913242
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 9853
ReturnHeader/Filer/USAddress/CityNm0PEORIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd0616129853
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0371017405
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GORENZ AND ASSOCIATES LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04200 N KNOXVILLE AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PEORIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd061614
ReturnHeader/PreparerPersonGrp/PhoneNum03096857621
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RUSSELL J RUMBOLD II CPA
ReturnHeader/ReturnTs02023-11-15T19:16:42-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CURT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RASSI
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,042,789
Liabilities
$258,014
Net assets
$784,775
Revenue
$291,130
Expenses
$210,213
Net income
$80,917
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.98$0.26$0.72$0.21$0.24$0.03
2023Summary only. Only limited summary data is available for this year.$1.01$0.26$0.75$0.19$0.22$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.04$0.26$0.78$0.29$0.21$0.08
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.07$0.36$0.70$0.18$0.18$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.08$0.37$0.71$0.21$0.17$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.03$0.36$0.67$0.12$0.18$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.10$0.37$0.73$0.24$0.16$0.08
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.71$0.01$0.71$0.27$0.17$0.10
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.62$0.01$0.61$0.17$0.18$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.63$0.01$0.62$0.17$0.19$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.69$0.05$0.64$0.25$0.17$0.08
2013Detailed filing. Detailed filing data is available for this year.$0.62$0.07$0.56$0.23$0.16$0.08
2011Summary only. Only limited summary data is available for this year.$0.45$0.02$0.43$0.12$0.14$0.02
2010Summary only. Only limited summary data is available for this year.$0.46$0.01$0.45$0.13$0.14$0.01
2009Summary only. Only limited summary data is available for this year.$0.47$0.01$0.46$0.11$0.14$0.03