AI Transparency Report
The Lake George Association Inc. demonstrates a generally healthy financial position with significant asset growth over the past few years. Revenue has shown considerable fluctuation, peaking at $6,877,319 in 2021 before settling to $3,779,824 in 2023. Despite these fluctuations, the organization consistently operates with a surplus, as evidenced by expenses being lower than revenue in most reported periods, such as $3,648,389 in expenses against $3,779,824 in revenue in 2023. This indicates sound financial management and an ability to build reserves.
The organization's asset base has expanded dramatically, from $4,542,441 in 2014 to $20,331,008 in 2023, suggesting successful fundraising and investment strategies. Liabilities remain relatively low compared to assets, with $550,263 in liabilities against over $20 million in assets in 2023, indicating a strong balance sheet and low financial risk. The consistent reporting of 0% officer compensation across all available filings is a notable aspect of their transparency and could suggest a volunteer-led executive structure or that compensation is reported differently, warranting further investigation into their full 990 forms for detailed compensation breakdowns.