Lake Placid Association For Music Drama & Art Inc

Lake Placid Association For Music Drama & Art Inc shows strong revenue growth and no reported officer compensation.

EIN: 146030874 · Lake Placid, NY · NTEE: A200 · Updated: 2026-03-28

$11.0MRevenue

$12.1MAssets

90/100Mission Score (Excellent)

A200

About Lake Placid Association For Music Drama & Art Inc

Lake Placid Association For Music Drama & Art Inc (EIN: 146030874) is a nonprofit organization based in Lake Placid, NY, classified under NTEE code A200. The organization reported total revenue of $11.0M and total assets of $12.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lake Placid Association For Music Drama & Art Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

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.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Lake Placid Association For Music Drama & Art Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 85%
fundraising: 5%

According to IRS 990 filings, Lake Placid Association For Music Drama & Art Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly commendable for a nonprofit of its size with over $3 million in annual revenue.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Lake Placid Association For Music Drama & Art Inc's IRS 990 filings:

Increase in liabilities in the latest filing period (202312) to $1,150,252, which is higher than previous years.

Strengths

The following positive indicators were identified for Lake Placid Association For Music Drama & Art Inc:

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.

Frequently Asked Questions about Lake Placid Association For Music Drama & Art Inc

Is Lake Placid Association For Music Drama & Art Inc a good charity?

Based on its financial data, the organization appears to be a good charity. It consistently manages expenses, shows strong revenue growth, and notably reports 0% officer compensation, indicating a strong commitment to its mission.

How has the organization's financial health changed over time?

The organization has shown consistent growth in revenue and assets over the past decade, with a significant jump in revenue and assets in the 202312 period. While liabilities also increased in the latest period, the overall trend is positive financial growth and stability.

What is the organization's approach to executive compensation?

The organization reports 0% officer compensation in all available filings, suggesting a volunteer-led executive structure or that executive salaries are covered by other means not reported as officer compensation, which is a strong positive for donor confidence.

Filing History

IRS 990 filing history for Lake Placid Association For Music Drama & Art Inc showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2011–2023), Lake Placid Association For Music Drama & Art Inc's revenue has grown by 281.7%, moving from $875K to $3.3M. Total assets increased by 82% over the same period, from $2.3M to $4.1M. Total functional expenses rose by 118.7%, from $1.0M to $2.2M. In its most recent filing year (2023), Lake Placid Association For Music Drama & Art Inc reported a surplus of $1.1M, with revenue exceeding expenses. The organization holds $1.2M in liabilities against $4.1M in assets (debt-to-asset ratio: 27.9%), resulting in net assets of $3.0M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$3.3M	$2.2M	$4.1M	$1.2M	—	View 990
2022	$1.2M	$1.1M	$3.0M	$1.2M	—	View 990
2022	$1.7M	$1.7M	$2.3M	$512K	—	View 990
2021	$1.3M	$1.2M	$2.4M	$410K	—	View 990
2020	$1.4M	$1.5M	$2.1M	$280K	—	View 990
2019	$1.2M	$1.4M	$2.1M	$178K	—	View 990
2018	$1.4M	$1.4M	$2.3M	$113K	—	View 990
2017	$1.2M	$1.3M	$2.2M	$95K	—	View 990
2016	$1.3M	$1.2M	$2.1M	$63K	—	View 990
2015	$929K	$1.1M	$2.1M	$55K	—	View 990
2014	$982K	$948K	$2.2M	$40K	—	View 990
2013	$934K	$968K	$2.1M	$20K	—	View 990
2012	$799K	$894K	$2.1M	$13K	—	View 990
2011	$875K	$1.0M	$2.3M	$14K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $3.3M, expenses of $2.2M, and assets of $4.1M (revenue +173.8% year-over-year).
2022: Revenue of $1.2M, expenses of $1.1M, and assets of $3.0M (revenue -29.6% year-over-year).
2022: Revenue of $1.7M, expenses of $1.7M, and assets of $2.3M (revenue +32.7% year-over-year).
2021: Revenue of $1.3M, expenses of $1.2M, and assets of $2.4M (revenue -6.0% year-over-year).
2020: Revenue of $1.4M, expenses of $1.5M, and assets of $2.1M (revenue +12.4% year-over-year).
2019: Revenue of $1.2M, expenses of $1.4M, and assets of $2.1M (revenue -9.4% year-over-year).
2018: Revenue of $1.4M, expenses of $1.4M, and assets of $2.3M (revenue +15.1% year-over-year).
2017: Revenue of $1.2M, expenses of $1.3M, and assets of $2.2M (revenue -11.4% year-over-year).
2016: Revenue of $1.3M, expenses of $1.2M, and assets of $2.1M (revenue +43.9% year-over-year).
2015: Revenue of $929K, expenses of $1.1M, and assets of $2.1M (revenue -5.4% year-over-year).
2014: Revenue of $982K, expenses of $948K, and assets of $2.2M (revenue +5.1% year-over-year).
2013: Revenue of $934K, expenses of $968K, and assets of $2.1M (revenue +16.9% year-over-year).
2012: Revenue of $799K, expenses of $894K, and assets of $2.1M (revenue -8.7% year-over-year).
2011: Revenue of $875K, expenses of $1.0M, and assets of $2.3M.

Data Sources and Methodology

This transparency report for Lake Placid Association For Music Drama & Art Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.