Lake George Association Inc

Analysis

Lake George Association Inc is a registered charity in United States, based in Lake George, NY. It received its IRS tax-exemption ruling in September 1957, 69 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 December 2023, Lake George Association Inc reported income of $3.8m and spending of $3.6m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $3.8m (+138%), an average of +24% a year. The sharpest change came in the year to December 2021, when income rose by 371%. Over the whole period it spent 69% 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 Association Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 88th percentile within NY. Charities of a similar size with the same main cause include Friends of the Mozartina Musical Arts Conservatory Inc ($3.8m), Bay Chamber Concerts ($3.8m) and Aircraft Carrier Hornet Foundation ($3.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $259k (7.1% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $20.3m against liabilities of $550k, net assets of $19.8m. It reported 24 employees.