Saranac Lake Civic Center Inc

Analysis

Saranac Lake Civic Center Inc is a registered charity in United States, based in Saranac Lake, NY. It received its IRS tax-exemption ruling in October 1989, 37 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Saranac Lake Civic Center Inc reported income of $1.6m and spending of $409k, leaving 74% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $212k to $1.6m (+645%), an average of +65% a year. The sharpest change came in the year to December 2021, when income rose by 1134%. Over the whole period it spent 15% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Saranac Lake Civic Center Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Main South Community Development Corporation ($1.6m), Village Alliance District Management Association Inc ($1.6m) and Tourism Tomorrow Inc ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $120k (29% of expenses). Other salaries and wages came to $114k. At year end it held assets of $7.2m against liabilities of $34k, net assets of $7.2m. It reported 15 employees.