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Lake Forest Graduate School of Management's mission is to bring the real world to business education and leadership development.
Source: IRS Form 990 (Tax Year 2023)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2022
Total Revenue
▼$8M
Program Spending
74%
of total expenses go to program services
Total Contributions
$676.7K
Total Expenses
▼$9.3M
Total Assets
$15.5M
Total Liabilities
▼$1.1M
Net Assets
$14.4M
Officer Compensation
→$1M
Other Salaries
$5.1M
Investment Income
$232.1K
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$374.4K
Awards Found
2
| Awarding Agency | Description | Amount | Fiscal Year | Period | Link |
|---|---|---|---|---|---|
| Department of Education | HEERF II FUNDING ALLOCATED TO LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT FOR THE INSTITUTIONAL PORTION (CFDA 84.425F). | $214.1K | FY2021 | Mar 2021 – Jun 2022 | Open → |
| Department of Education | HEERF II FUNDING ALLOCATED TO LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT FOR THE EMERGENCY FINANCIAL AID GRANTS FOR STUDENT PORTION (CFDA 84.425E). | $160.3K | FY2021 | Mar 2021 – Jun 2022 | Open → |
Department of Education
$214.1K
HEERF II FUNDING ALLOCATED TO LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT FOR THE INSTITUTIONAL PORTION (CFDA 84.425F).
Department of Education
$160.3K
HEERF II FUNDING ALLOCATED TO LAKE FOREST GRADUATE SCHOOL OF MANAGEMENT FOR THE EMERGENCY FINANCIAL AID GRANTS FOR STUDENT PORTION (CFDA 84.425E).
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
7
Clean Audits
7
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2022 | Clean | Unmodified (Clean) | $990.4K | Yes | 2022-10-16 |
| 2021 | Clean | Unmodified (Clean) | $782K | Yes | 2021-10-17 |
| 2020 | Clean | Unmodified (Clean) | $1.1M | Yes | 2020-11-01 |
| 2019 | Clean | Unmodified (Clean) | $1.2M | Yes | 2019-10-31 |
| 2018 | Clean | Unmodified (Clean) | $1.6M | Yes | 2018-10-21 |
| 2017 | Clean | Unmodified (Clean) | $1.9M | Yes | 2017-10-02 |
| 2016 | Clean | Unmodified (Clean) | $2.4M | Yes | 2016-11-09 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$990.4K
Financial Report
Unmodified (Clean)
Federal Expenditure
$782K
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.2M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.6M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.9M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.4M
Tax Year 2022 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023 | $8M | $676.7K | $9.3M | $15.5M | $14.4M |
| 2022IRS e-File | $8M | $676.7K | $9.3M | $15.5M | $14.4M |
| 2021 | $9.6M | $1.3M | $9.1M | $19M | $17.7M |
| 2020 | $9.4M | $36.7K | $10.5M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
| Tax Year | Form Type | Source | Documents |
|---|---|---|---|
| 2024 | 990 | IRS e-File | PDF not yet published by IRSView Filing → |
| 2023 | 990 | DataIRS e-File | |
| 2022 | 990 | DataIRS e-File |
Financial data: IRS e-Filed Form 990 (Tax Year 2022)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2022)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Jeffrey Anderson | President & CEO | 38 | $366.6K | $0 | $35.5K | $402.1K |
| Carrie Buchwald | Sr VP Center For Leadership | 38 | $241.9K | $0 | $39.9K | $281.8K |
| Thomas Perozzi | VP Finance & CFO | 38 | $226K | $0 | $32.3K | $258.4K |
| Patricia Coffey | Trustee / Board Chair / Faculty | 1 | $5,100 | $0 | $0 | $5,100 |
| Frank Pasquesi | Trustee / Vice Board Chair | 1 | $0 | $0 | $0 | $0 |
Jeffrey Anderson
President & CEO
$402.1K
Hrs/Wk
38
Compensation
$366.6K
Related Orgs
$0
Other
$35.5K
Carrie Buchwald
Sr VP Center For Leadership
$281.8K
Hrs/Wk
38
Compensation
$241.9K
Related Orgs
$0
Other
$39.9K
Thomas Perozzi
VP Finance & CFO
$258.4K
Hrs/Wk
38
Compensation
$226K
Related Orgs
$0
Other
$32.3K
Patricia Coffey
Trustee / Board Chair / Faculty
$5,100
Hrs/Wk
1
Compensation
$5,100
Related Orgs
$0
Other
$0
Frank Pasquesi
Trustee / Vice Board Chair
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Natalia San Jose | Business Dev Director | 38 | $240.6K | $0 | $26.8K | $267.5K |
| Susan Wynne | Bus Dev Director | 38 | $218.2K | $0 | $35.9K | $254.1K |
| Roger Rotunno | Information Technology Director | 38 | $119.2K | $0 |
Natalia San Jose
Business Dev Director
$267.5K
Hrs/Wk
38
Compensation
$240.6K
Related Orgs
$0
Other
$26.8K
Susan Wynne
Bus Dev Director
$254.1K
Hrs/Wk
38
Compensation
$218.2K
Related Orgs
$0
Other
$35.9K
Roger Rotunno
Information Technology Director
$150.5K
Hrs/Wk
38
Compensation
$119.2K
Related Orgs
$0
Other
$31.3K
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Christopher Kempa | Director | 1 | $0 | $0 | $0 | $0 |
| David Lee | Director | 1 | $0 | $0 | $0 | $0 |
| Edward Carney | Director | 1 | $0 | $0 | $0 | $0 |
| Gary Conrad | Director / Faculty | 1 | $70K | $0 | $0 | $70K |
| James (Sandy) Stevenson | Director | 1 | $0 | $0 | $0 | $0 |
| John Anderson | Director |
Christopher Kempa
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
David Lee
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Edward Carney
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
| $18.6M |
| $15.7M |
| 2019 | $10.2M | $24.4K | $10.3M | $17.8M | $16.7M |
| 2018 | $10.4M | $64.3K | $10.6M | $17.7M | $16.5M |
| 2017 | $9.8M | $74.5K | $10.2M | $18.6M | $16.5M |
| 2016 | $9.5M | $166.9K | $10.2M | $18M | $16.5M |
| 2015 | $10.8M | $356.3K | $11.3M | $19M | $17.3M |
| 2014 | $12M | $548.7K | $12.3M | $20.2M | $17.7M |
| 2013 | $11.8M | $243.4K | $12.3M | $18.8M | $17.2M |
| 2012 | $13.2M | $715.1K | $13.3M | $19.3M | $17.4M |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | — |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| $31.3K |
| $150.5K |
| Michelle Humes | Director Leadership Solutions | 38 | $131.7K | $0 | $14.8K | $146.6K |
| Carolyn Brune | Sr Director, Marketing Operations | 38 | $135.6K | $0 | $3,729 | $139.4K |
Michelle Humes
Director Leadership Solutions
$146.6K
Hrs/Wk
38
Compensation
$131.7K
Related Orgs
$0
Other
$14.8K
Carolyn Brune
Sr Director, Marketing Operations
$139.4K
Hrs/Wk
38
Compensation
$135.6K
Related Orgs
$0
Other
$3,729
| 1 |
| $0 |
| $0 |
| $0 |
| $0 |
| John Pappas | Director / Faculty | 1 | $5,600 | $0 | $0 | $5,600 |
| Leanna Walther | Director | 1 | $0 | $0 | $0 | $0 |
| Todd Litzsinger | Director | 1 | $0 | $0 | $0 | $0 |
Gary Conrad
Director / Faculty
$70K
Hrs/Wk
1
Compensation
$70K
Related Orgs
$0
Other
$0
James (Sandy) Stevenson
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
John Anderson
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
John Pappas
Director / Faculty
$5,600
Hrs/Wk
1
Compensation
$5,600
Related Orgs
$0
Other
$0
Leanna Walther
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Todd Litzsinger
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0