Is Lake Placid Association For Music Drama & Art Inc Legit?
Quick charity verification for Lake Placid Association For Music Drama & Art Inc (EIN: 146030874)
Verdict: Lake Placid Association For Music Drama & Art Inc appears trustworthy
90/100Mission Score
$11.0MRevenue
$12.1MAssets
1Red Flags
5Strengths
Red Flags
Increase in liabilities in the latest filing period (202312) to $1,150,252, which is higher than previous years.
Strengths
Significant revenue growth in the latest filing period (202312) to $3,341,164.
Consistent reporting of 0% officer compensation across all available filings.
Positive net income in most recent periods, indicating financial sustainability.
Long history of IRS 990 filings (14 filings), demonstrating consistent transparency.
Healthy asset growth over the past decade, reaching $4,119,947 in 202312.
Spending Breakdown
How Lake Placid Association For Music Drama & Art Inc allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Lake Placid Association For Music Drama & Art Inc
Is Lake Placid Association For Music Drama & Art Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lake Placid Association For Music Drama & Art Inc (EIN: 146030874) appears trustworthy. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
Is Lake Placid Association For Music Drama & Art Inc a good charity to donate to?
Lake Placid Association For Music Drama & Art Inc has a Mission Score of 90/100. Revenue: $11.0M. Assets: $12.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Lake Placid Association For Music Drama & Art Inc?
The Employer Identification Number (EIN) for Lake Placid Association For Music Drama & Art Inc is 146030874. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Lake Placid Association For Music Drama & Art Inc spend its money?
Lake Placid Association For Music Drama & Art Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Lake Placid Association For Music Drama & Art Inc's tax-exempt status?
You can verify Lake Placid Association For Music Drama & Art Inc's tax-exempt status using EIN 146030874 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The Lake Placid Association For Music Drama & Art Inc demonstrates a generally healthy financial trajectory, particularly in its most recent filing period (202312) where revenue significantly outpaced expenses ($3,341,164 vs. $2,211,438), leading to a substantial increase in net assets. While the organization's assets have grown over time, the liabilities in the 202312 period ($1,150,252) represent a notable increase compared to previous years, which warrants monitoring. The consistent reporting of 0% officer compensation across all available filings suggests a strong commitment to directing funds towards the mission rather than executive salaries, enhancing its transparency and public trust.
Spending efficiency appears strong, especially given the positive net income in recent periods. The organization consistently manages its expenses relative to its revenue, avoiding significant deficits in most years. The absence of reported officer compensation is a key indicator of efficient use of donor funds. However, without a detailed breakdown of program, administrative, and fundraising expenses, a precise assessment of spending efficiency across these categories is limited. The overall growth in revenue and assets, alongside controlled expenses, points to a well-managed financial operation.
Transparency is a significant strength for this organization, primarily due to the consistent reporting of 0% officer compensation. This level of disclosure regarding executive pay is commendable and builds confidence in how funds are allocated. The availability of 14 years of filing history further enhances transparency, allowing for a comprehensive review of financial trends and stability. The organization's consistent growth in assets and revenue, coupled with its conservative approach to executive compensation, paints a picture of a financially responsible and transparent entity.