Lake George Opera Festival Association Inc

Analysis

Lake George Opera Festival Association Inc is a registered charity in United States, based in Saratoga SPGS, NY. It received its IRS tax-exemption ruling in July 1964, 62 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 September 2023, Lake George Opera Festival Association Inc reported income of $867k and spending of $971k, spending 112% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.2m to $867k (-29%), an average of -8.1% a year. The sharpest change came in the year to September 2021, when income rose by 98%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lake George Opera Festival Association Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 73rd percentile within NY. Charities of a similar size with the same main cause include Pittsburgh Irish Festival Inc ($867k), Great River Shakespeare Festival ($867k) and Artwerks ($867k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 71% and program service revenue 20% of the total. Other salaries and wages came to $244k. At year end it held assets of $218k against liabilities of $639k, net assets of -$421k. It reported 41 employees.