Lake Fairlee Assn Inc
- Assets
- $616.3k
- Revenue
- $78.4k
- Investments
- $0.0
- Employees
- 6
- Location
- Fairlee, VT
- Founding
- 12/2005
- Data as of
- 12/2022
- EIN
- 03-6010700
Organization Overview
Lake Fairlee Assn Inc is located in Fairlee, VT. The organization was established in 2005. According to its NTEE Classification (C30) the organization is classified as: Natural Resources Conservation & Protection, under the broad grouping of Environment and related organizations. As of 12/2022, Lake Fairlee Assn Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Fairlee Assn Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Lake Fairlee Assn Inc generated $78.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $81.8k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROTECTION OF LAKE ENVIRONMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LAKE FAIRLEE ASSOCIATION SPONSORS A GREETER PROGRAM AT THE LAKE FAIRLEE BOAT LAUNCH TO ASSIST AND EDUCATE BOAT OWNERS USING THE LAKE'S RESOURCES. EDUCATIONAL MATERIAL ON AQUATIC INVASIVE SPECIES IS POSTED AT THE BOAT LAUNCH AND SHARED WITH BOAT OWNERS AS THEIR BOATS ENTER AND LEAVE THE LAKE. IN 2022, GREETERS WHERE HANDS-ON DAILY FROM MAY 13TH THRU OCTOBER 23RD BETWEEN 6AM AND 7PM.
THE LAKE FAIRLEE ASSOCIATION HAS A MILFOIL CONTROL PROGRAM, INCLUDING THE SURVEY, TREATMENT, AND HAND-PULLING OF INVASIVE MILFOIL. THE PROGRAM WAS APPROVED AND OVERSEEN BY THE VT DEPARTMENT OF ENVIRONMENTAL CONSERVATION AND INVOLVED A MULTI-FACETED APPROACH.
OTHER PROGRAM ACCOMPLISHMENTS INCLUDE VOLUNTEERS FROM THE LAKE FAIRLEE ASSOCIATION PRODUCED AND PUBLISHED A LAKEFRONT HOMEOWNERS MANUAL, WHICH HAS BEEN DISTRIBUTED TO APPROXIMATELY 400 WATERSHED PROPERTY OWNERS. THE MANUAL PROVIDES HOMEOWNERS WITH IMPORTANT INFORMATION ON REDUCING RUN-OFF, PROPER SEPTIC SYSTEM MANAGEMENT, AND CARE AND FEEDING OF NATIVE HABITATS AROUND THE LAKE. THE MANUAL CAN BE DOWNLOADED FROM THE ORGANIZATION'S WEBSITE. THE WHITE RIVER CONSERVATION DISTRICT, IN PARTNERSHIP WITH BEAR CREEK ENVIRONMENTAL, IS DEVELOPING A COMPREHENSIVE WATERSHED ACTION PLAN FOR LAKE FAIRLEE. THE PROJECT WAS STARTED IN THE FALL OF 2021, AND A FINAL REPORT WITH A PRIORITIZED LIST OF ACTION ITEMS, IS EXPECTED THE SPRING OF 2023. IN 2022, VOLUNTEERS FROM LFA PARTICIPATED IN A LAKEFRONT WATERFRONT SURVEY TO HELP IDENTIFY AREAS OF ADDITIONAL FOCUS RELATED TO RUN-OFF, EROSION, AND IDENTIFYING OPPORTUNITIES TO ENHANCE VEGITATIVE BARRIERS USING NATIVE SPECIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ridge Satterthwaite Treasurer | OfficerTrustee | 1 | $1,292 |
Renee Snow Vice President | OfficerTrustee | 1 | $0 |
Ben Mclaughlin President End 7/1/22 | OfficerTrustee | 1 | $0 |
Lisa Johnson Secretary | OfficerTrustee | 1 | $0 |
Nicholas Harvey Jr Vice President | OfficerTrustee | 2 | $0 |
David Matthews Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,410 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $29,880 |
| All other contributions, gifts, grants, and similar amounts not included above | $54,168 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $87,458 |
| Total Program Service Revenue | $0 |
| Investment income | $8,043 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$16,811 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$323 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,367 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $33,310 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,621 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,311 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,772 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,832 |
| Information technology | $174 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $496 |
| Insurance | $1,939 |
| All other expenses | $28,350 |
| Total functional expenses | $81,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,331 |
| Savings and temporary cash investments | $184,104 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $677 |
| Investments—publicly traded securities | $370,211 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $616,323 |
| Accounts payable and accrued expenses | $118 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $118 |
| Net assets without donor restrictions | $616,205 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $616,323 |