Lake Placid Association for Music Drama & Art Inc

Analysis

Lake Placid Association for Music Drama & Art Inc is a registered charity in United States, based in Lake Placid, NY. It received its IRS tax-exemption ruling in August 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lake Placid Association for Music Drama & Art Inc reported income of $3.3m and spending of $2.2m, leaving 34% of income unspent that year. Across the 6 years on record, from May 2019 to December 2023, income grew from $1.2m to $3.3m (+170%), an average of +22% a year. The sharpest change came in the year to December 2023, when income rose by 174%. Over the whole period it spent 89% 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 Placid Association for Music Drama & Art Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Childrens Museum and Theatre of Maine ($3.3m), San Diego Habitat Conservancy ($3.3m) and Graywolf Press ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $70k (3.2% of expenses). Other salaries and wages came to $337k. It paid $35k in professional fundraising fees. At year end it held assets of $4.1m against liabilities of $1.2m, net assets of $3.0m. It reported 9 employees.