Lake George Corporation

Analysis

Lake George Corporation is a registered charity in United States, based in Skowhegan, ME. It received its IRS tax-exemption ruling in June 1993, 33 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lake George Corporation reported income of $234k and spending of $204k, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $173k to $234k (+35%), an average of +7.8% a year. The sharpest change came in the year to December 2020, when income rose by 142%. Over the whole period it spent 63% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake George Corporation sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 50th percentile within ME. Charities of a similar size with the same main cause include The Masterworks Choir Inc ($234k), Central Susquehanna Sight Services Inc ($234k) and Richfield Soccer Association ($234k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $56k (27% of expenses). Other salaries and wages came to $69k. At year end it held assets of $864k against liabilities of $12k, net assets of $852k. It reported 21 employees.