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Nonprofiteer
← LAKE PLACID ASSOCIATION FOR MUSIC DRAMA & ART INC

Form 990 for tax year 2023

Filed by LAKE PLACID ASSOCIATION FOR MUSIC DRAMA & ART INC.

Totals

Total revenue
$3,341,164
Total expenses
$2,211,438
Contributions and grants received
$2,466,919
Grants paid
$518,050
Program service revenue
$580,744
Investment income
$172,966
Other revenue
$120,535
Total assets, end of year
$4,119,947
Total liabilities, end of year
$1,150,252
Net assets or fund balances, end of year
$2,969,695
Program services expenses (Part IX)
$1,783,188
Management and general expenses
$310,470
Fundraising expenses
$117,780
Program service expenses (Part III)
$1,783,188

Program services were 80.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $15,769

  • 1e · Government grants (contributions)

    $1,276,569

  • 1f · All other contributions, gifts and grants

    $1,174,581

  • 1g · Noncash contributions included above

    $95,309

  • 2a · Program service revenue: PERFORMING ARTS

    total $580,744 · related or exempt $580,744

  • 3 · Investment income

    total $153,445 · excluded $153,445

  • 6a · Gross rents

    real property $93,125

  • 6b · Less rental expenses

    real property $70,591

  • 6c · Rental income or loss

    real property $22,534

  • 6d · Net rental income or loss

    total $22,534 · unrelated business -$15,366 · excluded $37,900

  • 7a · Gross sales of assets other than inventory

    securities $135,739

  • 7b · Less cost or other basis and sales expenses

    securities $116,218

  • 7c · Gain or loss

    securities $19,521

  • 7d · Net gain or loss

    total $19,521 · excluded $19,521

  • 8a · Fundraising events: gross income

    $130,750

  • 8a · Fundraising events: contributions included on line 1c

    $15,769

  • 8b · Fundraising events: direct expenses

    $33,270

  • 8c · Net income from fundraising events

    total $97,480

  • 11a · Other revenue: MISC. INC./REBATES

    total $521 · related or exempt $521

  • 11e · Other revenue, total

    $521

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $518,050 · program services $518,050

  • 5 · Compensation of officers, directors and key employees

    total $69,773 · program services $34,886 · management and general $20,932 · fundraising $13,955

  • 7 · Other salaries and wages

    total $337,205 · program services $201,092 · management and general $129,087 · fundraising $7,026

  • 8 · Pension plan contributions

    total $6,487 · program services $2,919 · management and general $3,244 · fundraising $324

  • 9 · Other employee benefits

    total $65,822 · program services $19,747 · management and general $39,493 · fundraising $6,582

  • 10 · Payroll taxes

    total $47,723 · program services $16,703 · management and general $21,475 · fundraising $9,545

  • 11c · Fees: accounting

    total $12,913 · management and general $12,913

  • 11e · Fees: professional fundraising services

    total $35,148 · fundraising $35,148

  • 11f · Fees: investment management

    total $9,487 · management and general $9,487

  • 12 · Advertising and promotion

    total $14,497 · program services $14,497

  • 13 · Office expenses

    total $6,265 · program services $626 · management and general $2,156 · fundraising $3,483

  • 16 · Occupancy

    total $82,227 · program services $69,893 · management and general $8,223 · fundraising $4,111

  • 17 · Travel

    total $10,643 · program services $8,515 · management and general $1,064 · fundraising $1,064

  • 20 · Interest

    total $8,919 · program services $8,027 · management and general $892

  • 22 · Depreciation, depletion and amortization

    total $68,037 · program services $61,243 · management and general $6,794

  • 23 · Insurance

    total $25,265 · program services $22,739 · management and general $2,526

  • 24a · Other expenses: PROGRAM EXPENSES

    total $737,240 · program services $737,240

  • 24b · Other expenses: REGRANT EXPENSES

    total $54,794 · program services $54,794

  • 24c · Other expenses: CAPITAL RELATED EXPENSES

    total $35,939 · fundraising $35,939

  • 24d · Other expenses: GENERAL & ADMINISTRATIVE

    total $30,826 · management and general $30,826

  • 24e · All other expenses

    total $34,178 · program services $12,217 · management and general $21,358 · fundraising $603

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $126,118 · end of year $218,857

  • 2 · Savings and temporary cash investments

    beginning of year $4,845 · end of year $8,309

  • 3 · Pledges and grants receivable

    beginning of year $7,850 · end of year $524,819

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,087 · end of year $13,662

  • 10a · Land, buildings and equipment: cost or other basis

    $5,359,636

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,799,693

  • 10c · Land, buildings and equipment, net

    beginning of year $1,625,200 · end of year $1,559,943

  • 11 · Investments: publicly traded securities

    beginning of year $316,925 · end of year $356,167

  • 12 · Investments: other securities

    beginning of year $878,938 · end of year $957,454

  • 15 · Other assets

    beginning of year $85,919 · end of year $480,736

  • 17 · Accounts payable and accrued expenses

    beginning of year $80,771 · end of year $30,653

  • 19 · Deferred revenue

    beginning of year $10,295 · end of year $5,894

  • 24 · Unsecured notes and loans payable

    beginning of year $958,839 · end of year $943,386

  • 25 · Other liabilities

    beginning of year $178,852 · end of year $170,319

  • 27 · Net assets without donor restrictions

    beginning of year $1,704,343 · end of year $2,860,195

  • 28 · Net assets with donor restrictions

    beginning of year $113,782 · end of year $109,500

Mission and programs · 2023

Mission

THE LAKE PLACID CENTER FOR THE ARTS IS DEDICATED TO PRESENTING AND FOSTERING QUALITY ARTS, WHICH INSPIRE, ENRICH, EDUCATE, AND ENTERTAIN PEOPLE OF ALL AGES.

Activities or mission (Part I)

THE LAKE PLACID CENTER FOR THE ARTS IS DEDICATED TO PRESENTING AND FOSTERING QUALITY ARTS, WHICH INSPIRE, ENRICH, EDUCATE AND ENTERTAIN PEOPLE OF ALL AGES.

  • PRESENTING PROGRAMS: THE LAKE PLACID CENTER FOR THE ARTS PRESENTED ARTS PROGRAMS INCLUDING: 32 FILM SCREENINGS; 11 MUSIC PERFORMANCES; 8 DANCE PERFORMANCES; 14 THEATRE PERFORMANCES.

    Expenses $583,829 · Revenue $259,225

  • GALLERY PROGRAMS: THE LAKE PLACID CENTER FOR THE ARTS PRESENTED 6 GALLERY EXHIBITIONS IN THE FINE ARTS GALLERY. THE LAKE PLACID CENTER FOR THE ARTS ALSO OPERATED A GALLERY ON MAIN STREET IN DOWNTOWN LAKE PLACID.

    Expenses $455,438 · Revenue $230,958

  • EDUCATION PROGRAMS: THE LAKE PLACID CENTER FOR THE ARTS PRESENTED ARTS EDUCATION INCLUDING: 3 ARTS EDUCATION PROGRAMS; 1 THEATRE PERFORMANCES; 1 DANCE PERFORMANCES; 3 MUSIC PERFORMANCES; BALLET AND DANCE TRAINING SCHOOL WITH 1 RECITALS AND 30 WEEKS OF INSTRUCTION; 1 ARTISTIC RESIDENCIES.

    Expenses $225,871 · Revenue $90,561

  • NEW YORK STATE COUNCIL ON THE ARTS GRANT TO DISTRIBUTE TO OTHER ART ORGANIZATIONS TO ENCOURAGE PERFORMANCES TO VARIOUS AREAS. AWARDS WERE GIVEN TO OVER 70 ORGANIZATIONS.

    Expenses $518,050 · Grants $518,050 · Revenue $750,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JAMES LEMONS

    EXECUTIVE DI

    Total calculated
    $69,773
    From this org
    $69,773
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • TERESA BRADY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CHERYL BRAUNSTEIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARYLOU BROWN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ADELE CONNORS

    CO-PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • MIKE FOOTE

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • SARAH GALVIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOAN GIGNOUX

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DEBBIE HEIDECORN

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • TRACEY LEGAT HOWE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JENNIFER JENNINGS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CATHY JOHNSTON

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • TAMMY LOEWY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • NANCY MASTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CATHY MCGRAW

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JUDY MEAGHER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DARCY NORFOLK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOEL PELLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARGIE PHILO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DALE SKIVINGTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TRACY SMITH

    CO-PRESIDENT

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.0
Source object
202403209349311405

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.