The Lake Placid Sinfonietta Inc

Analysis

The Lake Placid Sinfonietta Inc is a registered charity in United States, based in Lake Placid, NY. It received its IRS tax-exemption ruling in July 1982, 44 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, The Lake Placid Sinfonietta Inc reported income of $337k and spending of $373k, spending 111% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $374k to $337k (-9.8%), an average of -2.5% a year. The sharpest change came in the year to September 2021, when income rose by 35%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Lake Placid Sinfonietta Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Free Library of New Hope & Solebury ($337k), Seton Square West ($337k) and Volunteers of America Inc ($337k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 64% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $49k (13% of expenses). Other salaries and wages came to $176k. At year end it held assets of $1.2m against liabilities of $5,285, net assets of $1.2m. It reported 30 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.