Lake Erie College of Osteopathic Medicine Inc
78% goes to programs $0 to raise $100 Strong reserves
Lake Erie College of Osteopathic Medicine Inc is a 501(c)(3) organization based in Erie, Pennsylvania, registered in 1994, with $222,063,231 in FY2023 revenue. CharityIndex grades it B+, and it directs about 78% of spending to programs.
1858 W Grandview Blvd, Erie, PA, 16509 EIN 25-1698677 Since 1994
Revenue (FY2023)
$222.1M
▲ 10.2% vs prior year
Education median: $200K
Expenses (FY2023)
$126.6M
Net assets
$963.7M
Employees
522
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
B+Program efficiency40% of the rating78% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Lake Erie College of Osteopathic Medicine Inc: 78% to programs · $0 to raise $100 earns a B+ on this criterion. See the exact thresholds →
B+Financial health25% of the rating91 mo reserves · +43% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Lake Erie College of Osteopathic Medicine Inc: 91 mo reserves · +43% margin earns a B+ on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Lake Erie College of Osteopathic Medicine Inc: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Lake Erie College of Osteopathic Medicine Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
The mission of lake erie college of osteopathic medicine (lecom) is to prepare students to become osteopathic physicians, pharmacy practitioners and dentists through programs of excellence in education, research, clinical care, and community services to enhance the quality of life through improved health for all humanity.
Contact & location
- Address
- 1858 W Grandview Blvd, Erie, PA, 16509
- City
- Erie
- State
- Pennsylvania
- Category
- Education
- Subcategory
- Graduate & Professional Schools
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $119.8M (FY2013) to $222.1M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $118.6MNet assets $963.7M
Operating margin
43.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.1B
Total liabilities
$118.6M
Net assets
$963.7M
Salaries & benefits
$55.6M
44% of expenses
Board members
9
4 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $222,063,231▲10.2% | $126,590,457▲4.4% | $963,686,289▲14.3% | $1,082,321,963▲12.5% | 990 |
| 2022 | $201,532,502▼0.1% | $121,233,796▲14.4% | $843,195,447▲12.0% | $961,815,012▲19.2% | 990 |
| 2021 | $201,771,210▼0.6% | $105,952,678▲0.8% | $752,530,518▲6.5% | $806,863,470▲6.6% | 990 |
| 2020 | $202,994,752▲24.7% | $105,154,051▲8.4% | $706,821,638▲27.9% | $757,028,043▲25.8% | 990 |
| 2019 | $162,737,666▼4.6% | $97,001,874▼0.7% | $552,619,694▲7.2% | $601,786,639▲6.6% | 990 |
| 2018 | $170,668,440▲1.7% | $97,667,196▲4.8% | $515,710,631▲12.4% | $564,559,506▲11.8% | 990 |
| 2017 | $167,821,490▲9.5% | $93,161,864▲5.0% | $458,991,816▲14.6% | $504,992,094▲12.7% | 990 |
| 2016 | $153,327,009▲9.5% | $88,686,492▲8.6% | $400,557,904▲17.5% | $448,146,971▲16.1% | 990 |
| 2015 | $139,996,369▲6.2% | $81,638,039▲11.0% | $340,868,020▲7.2% | $385,921,054▲7.4% | 990 |
| 2014 | $131,788,348▲10.0% | $73,571,522▲14.2% | $317,837,566▼8.6% | $359,371,196▼6.9% | 990 |
| 2013 | $119,841,631 | $64,436,744▲9.1% | $347,653,028▲18.3% | $386,153,324▲19.3% | 990 |
| 2012 | — | $59,069,094▲11.3% | $293,868,083▲16.6% | $323,712,460▲15.5% | 990 |
| 2011 | — | $53,062,783▲10.4% | $252,017,830▲14.7% | $280,161,599▲15.7% | 990 |
| 2010 | — | $48,076,782▲6.6% | $219,811,145▲19.4% | $242,147,295▲19.4% | 990 |
| 2009 | — | $45,086,381 | $184,122,033 | $202,731,389 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Silvia M Ferretti Do — $1,648,129 (1.30% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Silvia M Ferretti Do | Provost/vp of Academics | 73 | $1,648,129 |
| John M Ferretti Do | President/ceo | 56 | $1,472,076 |
| Steven G Inman CPA Cgma | Vp Fiscal Affairs/cfo | 28 | $381,899 |
| Richard Terry Do | Associate Dean of Academic Affairs | 40 | $374,330 |
| Michael Rowane Do | Associate Dean of Clinical Education | 40 | $366,748 |
| Mark Kauffman Do | Associate Dean of Academic Affairs | 40 | $350,612 |
| Matthew Bateman Phd | Assistant Provost of Institutional Effectiveness | 40 | $326,749 |
| Joseph Coppola Do | Physician | 40 | $319,546 |
| Thomas J Wedzik | Trustee | 1 | $31,000 |
| Mary L Eckert | Secretary | 4 | $12,045 |
| Dennis M Styn | Trustee | 5 | — |
| James Y Lin Do | Trustee | 1 | — |
| Joan L Moore Do | Trustee | 1 | — |
| Marlene D Mosco | Chairman | 1 | — |
| Nancy Peaden | Trustee | 1 | — |
| Suzanne K Kelley Do | Trustee | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Jas Management | Management Fees | $959,573 |
| Travis Smith | Associate Dean | $357,317 |
| Scott Consulting | Regional Dean | $120,000 |
| Edwrite Consulting | Lecom Accreditation Support | $102,000 |
Grants received · $2.9M total
52 grants to Lake Erie College of Osteopathic Medicine Inc totaling $2.9M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| National Association For the Exchange of Industrial Resources I | Care of ill, needy, or minor | 2024 | $208,919 |
| Erie Community Foundation | Various projects | 2024 | $113,986 |
| Pga Tour Inc | General support | 2024 | $69,706 |
| Greater Horizons | Education | 2024 | $15,000 |
| The Us Charitable Gift Trust | For recipient's exempt purpose | 2024 | $15,000 |
| Rochester General Hospital | Sponsorship | 2024 | $10,000 |
| Rochester General Hospital | Sponsorship | 2024 | $10,000 |
| Erie Community Foundation | Various projects | 2023 | $99,464 |
| Pga Tour Inc | General support | 2023 | $75,000 |
| National Association For the Exchange of Industrial Resources I | Care of ill, needy, or minor | 2023 | $35,389 |
| Rochester General Hospital | Sponsorship | 2023 | $10,000 |
| Donor Advised Charitable Giving | Education | 2023 | $5,250 |
| Erie Community Foundation | Various projects | 2022 | $111,692 |
| Pga Tour Inc | General support | 2022 | $75,000 |
| National Association For the Exchange of Industrial Resources I | Care of ill, needy, or minor | 2022 | $39,710 |
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Compare Lake Erie College of Osteopathic Medicine Inc
Frequently asked questions
- Is Lake Erie College of Osteopathic Medicine Inc a legitimate nonprofit?
- Yes. Lake Erie College of Osteopathic Medicine Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 25-1698677, based in Erie, Pennsylvania. Donations are tax-deductible.
- What is Lake Erie College of Osteopathic Medicine Inc's EIN?
- Lake Erie College of Osteopathic Medicine Inc's Employer Identification Number (EIN) is 25-1698677.
- How much revenue does Lake Erie College of Osteopathic Medicine Inc report?
- Lake Erie College of Osteopathic Medicine Inc reported $222,063,231 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Lake Erie College of Osteopathic Medicine Inc's spending goes to programs?
- Lake Erie College of Osteopathic Medicine Inc spends about 78% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Lake Erie College of Osteopathic Medicine Inc have?
- CharityIndex grades Lake Erie College of Osteopathic Medicine Inc B+, based on program efficiency and fundraising cost.
- How much does Lake Erie College of Osteopathic Medicine Inc's highest-paid employee make?
- The highest reported compensation on Lake Erie College of Osteopathic Medicine Inc's latest Form 990 is $1,648,129, paid to Silvia M Ferretti Do (Provost/vp of Academics).
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Data for Lake Erie College of Osteopathic Medicine Inc (EIN 25-1698677) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.