Nonprofit · EIN 36-2167770
LAKE FOREST COLLEGE
Tax-exempt · LAKE FOREST, IL 60045
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| May 31, 2025 | 990 | $165,068,732 | $155,459,424 | $9,609,308 | $287,159,838 | $55,480,077 | $231,679,761 |
| May 31, 2024 | 990 | $141,545,403 | $144,507,496 | -$2,962,093 | $269,045,907 | $57,413,941 | $211,631,966 |
| May 31, 2023 | 990 | $140,501,124 | $133,938,841 | $6,562,283 | $261,948,018 | $59,135,797 | $202,812,221 |
Financial details: 990 for the year ended May 31, 2025
Revenue
- Contributions, gifts and grants
- $40,623,915
- of which government grants
- $4,093,266
- Program service revenue
- $121,312,303
- Investment income
- $1,718,121
- Net rental income
- $955,331
- Net gain from sales of assets
- $1,438,589
- Net income from sales of inventory
- $4,475
- Other revenue
- $1,414,393
Expenses
- Grants and similar amounts paid
- $77,727,961
- Compensation of officers, directors and key employees
- $2,410,613
- Other salaries and wages
- $28,070,104
- Salaries, compensation and benefits (total)
- $38,573,531
- Professional fundraising fees
- $0
- Legal fees
- $313,296
- Accounting fees
- $111,167
- Occupancy
- $9,915,204
- Travel
- $1,389,148
- Depreciation
- $7,053,341
- Program services (functional)
- $139,659,483
- Management and general (functional)
- $13,422,710
- Fundraising (functional)
- $2,377,231
Balance sheet and other
- Total assets, start of year
- $269,045,907
- Total assets, end of year
- $287,159,838
- Total liabilities, end of year
- $55,480,077
- Net assets, end of year
- $231,679,761
- Land, buildings and equipment
- $138,250,414
- Net assets without donor restrictions
- $102,351,544
- Net assets with donor restrictions
- $129,328,217
- Gross unrelated business income
- $714,896
- Gross receipts
- $173,326,190
- Employees
- 1,510
- Volunteers
- 1,000
- Year formed
- 1857
- State of legal domicile
- IL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended May 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Jill Baren | President (until 12/10/24) Trustee or director, Officer | 50 | $709,690 | $26,330 |
| Lori Sundberg | VP for Finance/Planning; Treasurer Officer | 50 | $281,169 | $14,371 |
| Christopher Ellertson | Vice President for Campus Life Officer | 50 | $239,646 | $28,854 |
| Katie Sue Spieth | VP for Advancement and Secretary Officer | 50 | $240,525 | $12,021 |
| Davis Schneiderman Exec Dir | of the Krebs Center for Humanities Highest-paid employee | 50 | $207,868 | $43,649 |
| Tara Natarajan | Provost and Dean of Faculty Officer | 50 | $185,474 | $44,159 |
| Jacqueline Slaats | VP for Career Advancement/Athletics Officer | 50 | $196,406 | $25,307 |
| Ravikant Agarwal | Chief Information Officer Officer | 50 | $184,936 | $21,561 |
| Richard Bartolozzi | Senior Director of Gift Planning Highest-paid employee | 50 | $164,900 | $25,108 |
| Jacqueline Hoefler | VP for Marketing and Communication Officer | 50 | $149,033 | $32,243 |
| Janet McCracken | Professor of Philosophy Highest-paid employee | 50 | $143,840 | $23,591 |
| Gerard Cebrzynski | Senior Associate VP of Finance Highest-paid employee | 50 | $137,804 | $23,191 |
| Dejuran Richardson | Professor of Mathematics Highest-paid employee | 50 | $140,027 | $15,846 |
| Kevin Howley VP for Finance | and Institution (until 5/23/25) Officer | 50 | $58,750 | $1,300 |
| William A Lowry '84 | Chairman Trustee or director, Officer | 1 | $0 | $0 |
35 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Robert D Krebs | Interim President Trustee or director, Officer | 50 | $0 |
| Marisue Lacher P '22 | Vice Chairman Trustee or director, Officer | 1 | $0 |
| Earl J Barnes II '86 P '24 | Secretary Trustee or director, Officer | 1 | $0 |
| Michael Abello | Trustee Trustee or director | 1 | $0 |
| M Mercedes Badia-Tavas | Trustee Trustee or director | 1 | $0 |
| Charles M Brennan III p '90 | '92, Trustee Trustee or director | 1 | $0 |
| William G Brown | Trustee Trustee or director | 1 | $0 |
| Devon C Bruce | Trustee Trustee or director | 1 | $0 |
| John D Carruthers '78 | Trustee Trustee or director | 1 | $0 |
| Jessica Q Coleman '89 | Trustee Trustee or director | 1 | $0 |
| William Connell M '17 | Trustee Trustee or director | 1 | $0 |
| Robert Crawford Jr | Trustee Trustee or director | 1 | $0 |
| Geoffrey M Curtis '97 | Trustee Trustee or director | 1 | $0 |
| Susan DuMont '07 | Trustee Trustee or director | 1 | $0 |
| Doni Fordyce-Urfirer '81 | Trustee Trustee or director | 1 | $0 |
| Karen F Frost '88 | Trustee Trustee or director | 1 | $0 |
| David F Gorter '80 | Trustee Trustee or director | 1 | $0 |
| Vicki Angel Hagan '88 | Trustee Trustee or director | 1 | $0 |
| Cristen Kogl '88 | Trustee Trustee or director | 1 | $0 |
| Randall S Lauer '81 P '19 | Trustee Trustee or director | 1 | $0 |
| Dr Shao-Lee Lin | Trustee Trustee or director | 1 | $0 |
| K Scott Meloun '81 | Trustee Trustee or director | 1 | $0 |
| Diana Moore | Trustee Trustee or director | 1 | $0 |
| Martino R Moore '99 | Trustee Trustee or director | 1 | $0 |
| Robert S Murley | Trustee Trustee or director | 1 | $0 |
| Craig Omtvedt | Trustee Trustee or director | 1 | $0 |
| Dr Angelique L Richard '85 | Trustee Trustee or director | 1 | $0 |
| Mark W Shadle '84 | Trustee Trustee or director | 1 | $0 |
| Lisa Smith P'23 | Trustee Trustee or director | 1 | $0 |
| Joanne Storkan P '10 | Trustee Trustee or director | 1 | $0 |
| Stephen C Strelsin | Trustee (until 5/31/25) Trustee or director | 1 | $0 |
| Alexander D Stuart | Trustee Trustee or director | 1 | $0 |
| Sean W Thomas '81 | Trustee Trustee or director | 1 | $0 |
| Claudia Wyatt-Johnson '69 | Trustee Trustee or director | 1 | $0 |
| Edward Whipple Interim VP | & Dean of Students (until 5/31/25) Officer | 50 | $0 |
990 for the year ended May 31, 2024: 52 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Jill Baren | President Trustee or director, Officer | 50 | $546,029 | $27,828 |
| Shawn Vogen | Former VP for Advancement/Secretary Former | 0 | $297,655 | $2,652 |
| Lori Sundberg | VP for Finance/Planning; Treasurer Officer | 50 | $268,939 | $27,229 |
| Stephen D Schutt | President (until 6/30/23) Trustee or director, Officer | 50 | $230,413 | $38,518 |
| Christopher Ellertson | Vice President for Enrollment Officer | 50 | $231,552 | $28,886 |
| Davis Schneiderman | Provost and Dean of Faculty Officer | 50 | $198,641 | $44,606 |
| Jacqueline Slaats | VP for Career Advancement/Athletics Officer | 50 | $191,627 | $22,617 |
| Nancy Brekke | Associate Professor (until 8/31/23) Highest-paid employee | 50 | $186,283 | $12,247 |
| Ravikant Agarwal | Chief Information Officer Officer | 50 | $173,136 | $20,470 |
| Richard Bartolozzi | Senior Director of Gift Planning Highest-paid employee | 50 | $160,882 | $19,679 |
| Andrea Conner | VP/Dean of Students (until 7/31/23) Officer | 50 | $160,573 | $18,187 |
| Jacqueline Hoefler | VP for Marketing and Communication Highest-paid employee | 50 | $142,636 | $25,183 |
| David Siebert | Former Dir of Facilities Management Former | 0 | $161,343 | $2,281 |
| Dejuran Richardson | Professor of Mathematics Highest-paid employee | 50 | $145,676 | $17,492 |
| Janet McCracken | Professor of Philosophy Highest-paid employee | 50 | $137,194 | $18,002 |
| Katie Sue Spieth | VP for Advancement and Secretary Officer | 50 | $122,768 | $5,387 |
| Tara Natarajan | Provost and Dean of Faculty Officer | 50 | $84,095 | $14,010 |
| William A Lowry '84 | Chairman Trustee or director, Officer | 1 | $0 | $0 |
| Marisue Lacher P '22 | Vice Chairmain Trustee or director, Officer | 1 | $0 | $0 |
| Stephen C Strelsin | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Michael Abello | Trustee Trustee or director | 1 | $0 | $0 |
| M Mercedes Badia-Tavas | Trustee Trustee or director | 1 | $0 | $0 |
| Earl J Barnes II '86 P '24 | Trustee Trustee or director | 1 | $0 | $0 |
| Charles M Brennan III P'9092 | Trustee Trustee or director | 1 | $0 | $0 |
| William G Brown | Trustee Trustee or director | 1 | $0 | $0 |
| Devon C Bruce | Trustee Trustee or director | 1 | $0 | $0 |
| John D Carruthers '78 | Trustee Trustee or director | 1 | $0 | $0 |
| Jessica Q Coleman '89 | Trustee Trustee or director | 1 | $0 | $0 |
| William Connell M '17 | Trustee Trustee or director | 1 | $0 | $0 |
| Robert Crawford Jr | Trustee Trustee or director | 1 | $0 | $0 |
| Geoffrey M Curtis '97 | Trustee Trustee or director | 1 | $0 | $0 |
| Doni Fordyce-Urfirer '81 | Trustee Trustee or director | 1 | $0 | $0 |
| Karen F Frost '88 | Trustee Trustee or director | 1 | $0 | $0 |
| David F Gorter '80 | Trustee Trustee or director | 1 | $0 | $0 |
| Vicki Angel Hagan '88 | Trustee Trustee or director | 1 | $0 | $0 |
| Cristen Kogl '88 | Trustee Trustee or director | 1 | $0 | $0 |
| Robert D Krebs | Trustee Trustee or director | 1 | $0 | $0 |
| Randall S Lauer '81 P '19 | Trustee Trustee or director | 1 | $0 | $0 |
| Dr Shao-Lee Lin | Trustee Trustee or director | 1 | $0 | $0 |
| K Scott Meloun '81 | Trustee Trustee or director | 1 | $0 | $0 |
| Diana Moore | Trustee Trustee or director | 1 | $0 | $0 |
| Martino R Moore '99 | Trustee Trustee or director | 1 | $0 | $0 |
| Robert S Murley | Trustee Trustee or director | 1 | $0 | $0 |
| Craig Omtvedt | Trustee Trustee or director | 1 | $0 | $0 |
| Dr Angelique L Richard '85 | Trustee Trustee or director | 1 | $0 | $0 |
| Mark W Shadle '84 | Trustee Trustee or director | 1 | $0 | $0 |
| Lisa Smith P'23 | Trustee Trustee or director | 1 | $0 | $0 |
| Joanne Storkan P '10 | Trustee Trustee or director | 1 | $0 | $0 |
| Alexander D Stuart | Trustee Trustee or director | 1 | $0 | $0 |
| Sean W Thomas '81 | Trustee Trustee or director | 1 | $0 | $0 |
| Claudia Wyatt-Johnson '69 | Trustee Trustee or director | 1 | $0 | $0 |
| Edward Whipple Interim VP | and Dean of Students (as of 7/23) Officer | 50 | $0 | $0 |
990 for the year ended May 31, 2023: 50 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Stephen D Schutt | President (until 7/5/22) Trustee or director, Officer | 50 | $413,403 | $104,688 |
| Jill Baren | President Trustee or director, Officer | 50 | $243,855 | $19,071 |
| Davis Schneiderman | Provost and Dean of Faculty Officer | 50 | $209,942 | $45,491 |
| Christopher Ellertson | Vice President for Enrollment Officer | 50 | $222,629 | $30,488 |
| Shawn Vogen | VP for Advancement & Secretary Officer | 50 | $227,458 | $18,410 |
| Lori Sundberg | VP for Finance/Planning; Treasurer Officer | 50 | $212,887 | $26,338 |
| Jacqueline Slaats | VP for Career Advancement/Athletics Key employee | 50 | $185,738 | $24,491 |
| Ravikant Agarwal | Chief Information Officer Officer | 50 | $165,623 | $31,204 |
| Andrea Conner | Vice President and Dean of Students Officer | 50 | $168,927 | $25,212 |
| Richard Bartolozzi | Senior Director of Gift Planning Highest-paid employee | 50 | $165,321 | $24,604 |
| David Siebert | Director of Facilities Management Highest-paid employee | 50 | $134,027 | $39,396 |
| Johnathon Briseno | Asst Director of Facilities Mgmt Highest-paid employee | 50 | $156,095 | $10,542 |
| Janet McCracken | Professor of Philosophy Highest-paid employee | 40 | $138,411 | $22,983 |
| Shubhik DebBurman | Professor Highest-paid employee | 50 | $128,672 | $28,341 |
| William A Lowry | Chairman Trustee or director, Officer | 1 | $0 | $0 |
| Marisue Lacher | Vice Chairmain Trustee or director, Officer | 1 | $0 | $0 |
| Stephen C Strelsin | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Alexander D Stuart | Trustee Trustee or director | 1 | $0 | $0 |
| Charles M Brennan III | Trustee Trustee or director | 1 | $0 | $0 |
| Claudia Wyatt-Johnson '69 | Trustee Trustee or director | 1 | $0 | $0 |
| Craig Omtvedt | Trustee Trustee or director | 1 | $0 | $0 |
| Cristen Kogl '88 | Trustee Trustee or director | 1 | $0 | $0 |
| David A Castagnettis '84 | Trustee (until 10/1/22) Trustee or director | 1 | $0 | $0 |
| David F Gorter '80 | Trustee Trustee or director | 1 | $0 | $0 |
| Devon C Bruce | Trustee Trustee or director | 1 | $0 | $0 |
| Diana Moore | Trustee Trustee or director | 1 | $0 | $0 |
| Doni Fordyce-Urfirer '81 | Trustee Trustee or director | 1 | $0 | $0 |
| Dr Angelique L Richard '85 | Trustee Trustee or director | 1 | $0 | $0 |
| Dr Shao-Lee Lin | Trustee Trustee or director | 1 | $0 | $0 |
| Earl J Barnes II '86 | Trustee Trustee or director | 1 | $0 | $0 |
| Geoffrey M Curtis '97 | Trustee Trustee or director | 1 | $0 | $0 |
| Jessica Q Coleman '89 | Trustee Trustee or director | 1 | $0 | $0 |
| Joanne Storkan | Trustee Trustee or director | 1 | $0 | $0 |
| John D Carruthers '78 | Trustee Trustee or director | 1 | $0 | $0 |
| Joseph D McCarthy '78 | Trustee (until 6/30/22) Trustee or director | 1 | $0 | $0 |
| Karen F Frost '88 | Trustee Trustee or director | 1 | $0 | $0 |
| K Scott Meloun '81 | Trustee Trustee or director | 1 | $0 | $0 |
| Lisa Smith P'23 | Trustee Trustee or director | 1 | $0 | $0 |
| Mark W Shadle '84 | Trustee Trustee or director | 1 | $0 | $0 |
| Martino R Moore '99 | Trustee Trustee or director | 1 | $0 | $0 |
| Michael Abello | Trustee Trustee or director | 1 | $0 | $0 |
| M Mercedes Badia-Tavas | Trustee Trustee or director | 1 | $0 | $0 |
| Randall S Lauer '81 | Trustee Trustee or director | 1 | $0 | $0 |
| Robert D Krebs | Trustee Trustee or director | 1 | $0 | $0 |
| Robert W Crawford Jr | Trustee Trustee or director | 1 | $0 | $0 |
| Robert S Murley | Trustee Trustee or director | 1 | $0 | $0 |
| Sean W Thomas '81 | Trustee Trustee or director | 1 | $0 | $0 |
| Vicki Angel Hagan '88 | Trustee Trustee or director | 1 | $0 | $0 |
| William Connell | Trustee Trustee or director | 1 | $0 | $0 |
| William G Brown | Trustee Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 555 N SHERIDAN RD, LAKE FOREST, IL 60045-2338
- In care of
- % MICHAEL SOSULSKI
- Principal officer (990 for 2024)
- Michael Sosulski, 555 N Sheridan Rd, Lake Forest, IL 600452399
- Signed the 990
- Randy Barfield, Interim VP of Finance
- Phone
- (847) 234-3100
- Website
- www.lakeforest.edu
- Return prepared by
- RSM US LLP
Mission
Provide post-secondary education leading to a baccalaureate degree. Program service expenditures are made in conjunction with the operation of a liberal arts college spread over 107 acres with approximately 63 educational and support buildings. The College is accredited by the Higher Learning Commission, and had 1,814 undergraduate students and 23 graduate students with 144 full time faculty. Bachelor of arts degrees conferred were 434 during the year, with 14 master's degrees conferred. The College had approximately 1,250 resident students in the residence halls.
Program accomplishments
- Instruction and research includes expenses for all activities that are part of the instructional program and for activities specifically organized to produce research.Expenses $104,214,280 · grants $73,672,656 · revenue $103,179,830
- Student services are considered programmatic and include activities that contribute to student emotional and physical well-being and intellectual, cultural and social development outside the formal instructional program.Expenses $19,326,851 · revenue $18,353,929
- Auxiliary enterprises include expenses relating to the operation of the auxiliary activities such as housing, dining services, and parking.Expenses $16,118,352 · grants $4,055,305
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in May, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | May 31, 2026 | October 15, 2026 | Not on file |
| 2024 | May 31, 2025 | October 15, 2025 | 990 on file |
| 2023 | May 31, 2024 | October 15, 2024 | 990 on file |
IRS record
- EIN
- 36-2167770
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1934
- Accounting year ends
- May
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B420)
- Assets (IRS master file)
- $287,159,838
- Income (IRS master file)
- $173,326,190
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | May 2025 | $165,068,732 | $155,459,424 | $287,159,838 | XML |
| 990-T | May 2025 | – | – | – | IRS |
| 990 | May 2024 | $141,545,403 | $144,507,496 | $269,045,907 | XML |
| 990-T | May 2024 | – | – | – | IRS |
| 990 | May 2023 | $140,501,124 | $133,938,841 | $261,948,018 | IRS |
| 990-T | May 2023 | – | – | – | IRS |
| 990 | May 2022 | $127,569,310 | $123,493,970 | $244,551,905 | IRS |
| 990-T | May 2022 | – | – | – | IRS |
| 990 | May 2021 | – | – | – | IRS |
| 990-T | May 2021 | – | – | – | IRS |
| 990 | May 2020 | – | – | – | IRS |
| 990 | May 2019 | – | – | – | IRS |
| 990 | May 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 36-2167770).
Questions about LAKE FOREST COLLEGE
- What is the EIN of LAKE FOREST COLLEGE?
- The employer identification number (EIN) of LAKE FOREST COLLEGE is 36-2167770.
- Is LAKE FOREST COLLEGE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1934.
- Are donations to LAKE FOREST COLLEGE tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LAKE FOREST COLLEGE file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LAKE FOREST COLLEGE due?
- The return for tax year 2025 (the year ending May 31, 2026) is due October 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LAKE FOREST COLLEGE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended May 2025.
- Who is the principal officer of LAKE FOREST COLLEGE?
- The 990 for the year ended May 31, 2025 names Michael Sosulski.
- Who are the officers and directors of LAKE FOREST COLLEGE?
- The 990 for the year ended May 31, 2025 lists 50 people; 14 received compensation from the organization, the highest $709,690 (Jill Baren, President (until 12/10/24)).
- How much revenue does LAKE FOREST COLLEGE have?
- On its 990 for the year ended May 31, 2025 it reported revenue of $165,068,732, expenses of $155,459,424 and total assets of $287,159,838 at year end.
Other nonprofits in LAKE FOREST
- LAKE FOREST ACADEMY EIN 36-2216167 · last filed 990 for 2025
- EAST LAKE ACADEMY EIN 04-3619566 · last filed 990 for 2025
- BOSKO EIN 20-8598257 · last filed 990 for 2024
- CYSTINOSIS RESEARCH NETWORK INCORPORATED EIN 04-3323789 · last filed 990 for 2024
- SPIRIT OF 67 FOUNDATION EIN 36-3452385 · last filed 990 for 2025
- THE EPISCOPAL PRESCHOOL INC EIN 52-2413636 · last filed 990 for 2025
- CONWAY FARMS GOLF CLUB FOUNDATION EIN 03-0523195 · last filed 990 for 2024
- GPF FOUNDATION EIN 82-4836672 · last filed 990 for 2025