LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE Charity Report

Public IRS 990 nonprofit record

LAKE ERIE COLLEGE OF OSTEOPATHIC MEDICINE

EIN 25-1698677 · Education (B500)

What they do

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.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $78.30 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders16 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

45.66%of revenue went to mission work78.3% of expenses · Program services

$58.31spent for every $100 of revenueRevenue covered expenses this year.

12.65%of revenue went to management and office costs21.7% of expenses

$8.78in assets for every $1 spent this yearSome assets cannot be spent right away.

7.4%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $1,766,916 for SILVIA M FERRETTI DO (PROVOST/VP OF ACADEMICS). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$230,492,050

Mission workProgram services$105,235,16845.66% of revenue78.3% of expenses

ManagementOffice and general costs$29,159,69012.65% of revenue21.7% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$96,097,19241.69% of revenueShown in gray on the chart

Total expenses$134,394,85858.31% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 78.3% mission · 21.7% management · 0.0% fundraisingTotal expenses: 58.31% of revenue

2023Expense mix: 77.7% mission · 22.3% management · 0.0% fundraisingTotal expenses: 57.01% of revenue

2022Expense mix: 77.4% mission · 22.6% management · 0.0% fundraisingTotal expenses: 60.16% of revenue

2021Expense mix: 75.4% mission · 24.6% management · 0.0% fundraisingTotal expenses: 52.51% of revenue

2020Expense mix: 73.4% mission · 26.6% management · 0.0% fundraisingTotal expenses: 51.80% of revenue

2019Expense mix: 74.9% mission · 25.1% management · 0.0% fundraisingTotal expenses: 59.61% of revenue

2018Expense mix: 74.8% mission · 25.2% management · 0.0% fundraisingTotal expenses: 57.23% of revenue

2017Expense mix: 74.3% mission · 25.7% management · 0.0% fundraisingTotal expenses: 55.51% of revenue

Money in and money out

Revenue$230,492,050

Expenses$134,394,858

Annual surplus $96,097,192 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$105,235,168 · 78.3% of expenses

Management and office costs$29,159,690 · 21.7% of expenses

See all reported dollar amounts

Revenue$230,492,050

Expenses$134,394,858

Assets$1,180,027,575

Income$231,190,368

Contributions$17,038,563

Mission work (program services)$105,235,168

Grants given$419,600

Average grant$139,867

Management and general$29,159,690

Executive compensation (total)$2,811,601

Stocks and bonds$842,600,698

Accounting fees$147,563

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

SILVIA M FERRETTI DOPROVOST/VP OF ACADEMICS · 73 hrs/week $1,766,916Base $1,727,650 · Other $39,266

JOHN M FERRETTI DOPRESIDENT/CEO · 56 hrs/week $1,609,483Base $1,570,358 · Other $39,125

RICHARD TERRY DOASSOCIATE DEAN OF ACADEMIC AFFAIRS · 40 hrs/week $462,485Base $413,453 · Other $49,032

STEVEN G INMAN CPA CGMAVP FISCAL AFFAIRS/CFO · 28 hrs/week $445,293Base $406,338 · Other $38,955

MICHAEL ROWANE DOASSOCIATE DEAN OF CLINICAL EDUCATION · 40 hrs/week $425,766Base $380,038 · Other $45,728

MARK KAUFFMAN DOASSOCIATE DEAN OF ACADEMIC AFFAIRS · 40 hrs/week $397,012Base $362,875 · Other $34,137

RICHARD E FERRETTI ESQDIRECTOR OF RISK MANAGEMENT AND CORPORATE COMPLIAN · 40 hrs/week $392,948Base $347,604 · Other $45,344

MATTHEW BATEMAN PHDASSISTANT PROVOST OF INSTITUTIONAL EFFECTIVENESS · 40 hrs/week $379,685Base $338,253 · Other $41,432

JAMES Y LIN DOTRUSTEE · 1 hrs/week $54,879Base · Other $54,879

DENNIS M STYNTRUSTEE · 5 hrs/week $47,505Base · Other $47,505

MARY L ECKERTSECRETARY · 4 hrs/week $33,308Base · Other $33,308

THOMAS J WEDZIKTRUSTEE · 1 hrs/week $31,000

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (16)

SILVIA M FERRETTI DOPROVOST/VP OF ACADEMICS

JOHN M FERRETTI DOPRESIDENT/CEO

RICHARD TERRY DOASSOCIATE DEAN OF ACADEMIC AFFAIRS

STEVEN G INMAN CPA CGMAVP FISCAL AFFAIRS/CFO

MICHAEL ROWANE DOASSOCIATE DEAN OF CLINICAL EDUCATION

MARK KAUFFMAN DOASSOCIATE DEAN OF ACADEMIC AFFAIRS

RICHARD E FERRETTI ESQDIRECTOR OF RISK MANAGEMENT AND CORPORATE COMPLIAN

MATTHEW BATEMAN PHDASSISTANT PROVOST OF INSTITUTIONAL EFFECTIVENESS

JAMES Y LIN DOTRUSTEE

DENNIS M STYNTRUSTEE

MARY L ECKERTSECRETARY

THOMAS J WEDZIKTRUSTEE

JOAN L MOORE DOTRUSTEE

MARLENE D MOSCOCHAIRMAN

NANCY PEADENTRUSTEE

SUZANNE K KELLEY DOTRUSTEE

About this charity

Recognized since: January 1994
Location: 1858 W GRANDVIEW BLVD, ERIE, PA 16509-1025
County: Erie
In care of: STEVEN G INMAN CPA CGMA
Primary officer: STEVEN G INMAN CPA CGMA, VP FISCAL AFFAIRS/CFO

How to reach them

WebsiteVisit the charity’s website Phone(814) 866-6641

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: BAKER TILLY ADVISORY GROUP LP
NTEE classification: Education (B500)
IRS tax category: Colleges, Universities, and Professional Schools
Grant-giving organization: Yes