Historic Saranac Lake Inc

Analysis

Historic Saranac Lake Inc is a registered charity in United States, based in Saranac Lake, NY. It received its IRS tax-exemption ruling in December 1982, 44 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 August 2024, Historic Saranac Lake Inc reported income of $2.5m and spending of $380k, leaving 85% of income unspent that year. Across the 5 years on record, from August 2020 to August 2024, income grew from $654k to $2.5m (+281%), an average of +40% a year. The sharpest change came in the year to August 2024, when income rose by 124%. Over the whole period it spent 28% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Historic Saranac Lake Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within NY. Charities of a similar size with the same main cause include Philadelphias Magic Gardens ($2.5m), Philadelphia Chamber Music Society ($2.5m) and Chesapeake Shakespeare Company ($2.5m).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 97% and program service revenue 0.8% of the total. Other salaries and wages came to $198k. At year end it held assets of $5.0m against liabilities of $7,830, net assets of $5.0m. It reported 8 employees.