LAKE PLACID CHAMBER OF COMMERCE INC Charity Report

Public IRS 990 nonprofit record

LAKE PLACID CHAMBER OF COMMERCE INC

EIN 14-1354120 · Professional Athletic Leagues (N80)

What they do

LAKE PLACID CHAMBER of COMMERCE, INC. DBA "THE REGIONAL OFFICE of SUSTAINABLE TOURISM / LAKE PLACID CVB" is THE DESTINATION PLANNING and MARKETING ORGANIZATION for ESSEX COUNTY, FRANKLIN COUNTY, HAMILTON COUNTY, and THE TRI-LAKES REGION INCLUDING LAKE PLACID, LEADING ECONOMIC GROWTH THROUGH TOURISM.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $92.10 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders14 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

94.83%of revenue went to mission work92.1% of expenses · Program services

$102.93spent for every $100 of revenueSpending was higher than revenue this year.

8.10%of revenue went to management and office costs7.9% of expenses

$0.51in assets for every $1 spent this yearSome assets cannot be spent right away.

3.6%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $187,200 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $144,982 for JAMES B MCKENNA (CEO (PRIOR)). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$6,388,988

Mission workProgram services$6,058,49694.83% of revenue92.1% of expenses

ManagementOffice and general costs$517,6928.10% of revenue7.9% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Total expenses$6,576,188102.93% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 92.1% mission · 7.9% management · 0.0% fundraisingTotal expenses: 102.93% of revenue

2023Expense mix: 91.1% mission · 8.9% management · 0.0% fundraisingTotal expenses: 111.27% of revenue

2022Expense mix: 92.7% mission · 7.3% management · 0.0% fundraisingTotal expenses: 92.82% of revenue

2021Expense mix: 92.2% mission · 7.8% management · 0.0% fundraisingTotal expenses: 83.68% of revenue

2020Expense mix: 90.4% mission · 9.6% management · 0.0% fundraisingTotal expenses: 81.50% of revenue

2019Expense mix: 90.9% mission · 9.1% management · 0.0% fundraisingTotal expenses: 102.03% of revenue

2018Expense mix: 93.7% mission · 6.3% management · 0.0% fundraisingTotal expenses: 99.30% of revenue

2017Expense mix: 93.5% mission · 6.5% management · 0.0% fundraisingTotal expenses: 99.02% of revenue

Money in and money out

Revenue$6,388,988

Expenses$6,576,188

Annual shortfall $187,200 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$6,058,496 · 92.1% of expenses

Management and office costs$517,692 · 7.9% of expenses

See all reported dollar amounts

Revenue$6,388,988

Expenses$6,576,188

Assets$3,369,969

Income$6,404,588

Contributions$227,389

Mission work (program services)$6,058,496

Management and general$517,692

Stocks and bonds$114,656

Accounting fees$59,892

Investing fees$558

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

JAMES B MCKENNACEO (PRIOR) · 35 hrs/week $144,982

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (14)

JAMES B MCKENNACEO (PRIOR)

ALEX MADDENDIRECTOR

CHANDLER RALPHVICE CHAIR

FAVOR SMITHDIRECTOR

GARRICK SMITHTREASURER

HILLARIE LOGAN-DECHENESECRETARY

JODI GUNTHERDIRECTOR

JON DONKDIRECTOR

JOSEPH GEHMDIRECTOR

LESLIE KARASINDIRECTOR

LISA HESS-MARKSDIRECTOR

MARIANNE RAPPLEDIRECTOR

MATT STANLEYDIRECTOR

NICK POLITICHAIR

About this charity

Recognized since: January 1975
Location: 2608 MAIN ST, LAKE PLACID, NY 12946-3545
County: Essex
In care of: % LYMPIC CENTER
Primary officer: GARRICK SMITH, TREASURER

How to reach them

WebsiteVisit the charity’s website Phone(518) 523-2445

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: ALEXANDER EDWARDS AND COMPANY CPAS PC
NTEE classification: Professional Athletic Leagues (N80)
IRS tax category: Professional Athletic Leagues