Lake Placid Olympic Museum

Analysis

Lake Placid Olympic Museum is a registered charity in United States, based in Lake Placid, NY. It received its IRS tax-exemption ruling in October 1998, 28 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 March 2024, Lake Placid Olympic Museum reported income of $52k and spending of $81k, spending 155% of what it took in. Across the 5 years on record, from March 2020 to March 2024, income grew from $28k to $52k (+87%), an average of +17% a year. The sharpest change came in the year to March 2022, when income rose by 125%. Over the whole period it spent 106% 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 Olympic Museum sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 22nd percentile within NY. Charities of a similar size with the same main cause include Deer Isle-Stonington Historical Society Inc ($52k), Russian Educational Center of Minnesota ($52k) and Festival of New Trumpet Music Inc ($52k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 39% and program service revenue 47% of the total. At year end it held assets of $2.8m against liabilities of $0, net assets of $2.8m.