The Lake Placid Sinfonietta Inc
- Assets
- $1.4m
- Revenue
- $342.3k
- Investments
- $285.0k
- Employees
- 3
- Location
- Lake Placid, NY
- Founding
- 07/1982
- Data as of
- 09/2021
- EIN
- 11-2608012
Organization Overview
The Lake Placid Sinfonietta Inc is located in Lake Placid, NY. The organization was established in 1982. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2021, Lake Placid Sinfonietta Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Placid Sinfonietta 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 09/2021, Lake Placid Sinfonietta Inc generated $342.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.4%) each year. All expenses for the organization totaled $350.1k during the year ending 09/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE LAKE PLACID SINFONIETTA, THE ADIRONDACKS' ORCHESTRA OF WORLD CLASS MUSICIANS, UNLEASHES THE POWER OF MUSIC TO ENTERTAIN, EDUCATE, AND INSPIRE PEOPLE OF ALL AGES. UNITES ADIRONDACK COMMUNITIES AND VISITORS WITH INSPIRING MUSIC IN A BEAUTIFUL ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PERFORMS LIVE CLASSICAL MUSIC FOR A SIX WEEK SEASON EVERY SUMMER IN THE CENTRAL ADIRONDACKS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Fitts Executive Di | Officer | 40 | $45,230 |
Linda Mcclarigan President | OfficerTrustee | 1 | $0 |
Joellyn Cattell Co-Vice Pres | OfficerTrustee | 1 | $0 |
Kathleen Briggs Interim - Se | OfficerTrustee | 1 | $0 |
Judith Steinberg Treasurer | OfficerTrustee | 1 | $0 |
Nancy Gordon Co-Vice Pres | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $500 |
| Related organizations | $0 |
| Government grants | $63,339 |
| All other contributions, gifts, grants, and similar amounts not included above | $180,894 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $244,733 |
| Total Program Service Revenue | $42,490 |
| Investment income | $13,493 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $23,996 |
| Net Income from Fundraising Events | $3,522 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $342,334 |
| 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. | $45,230 |
| Compensation of current officers, directors, key employees. | $45,230 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $180,948 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,143 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,349 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,288 |
| Office expenses | $4,708 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,441 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $100 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,926 |
| Insurance | $5,822 |
| All other expenses | $10,297 |
| Total functional expenses | $350,070 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $95,419 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,650 |
| 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 | $6,998 |
| Investments—publicly traded securities | $1,016,088 |
| Investments—other securities | $285,033 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,405,188 |
| Accounts payable and accrued expenses | $5,582 |
| Grants payable | $0 |
| Deferred revenue | $500 |
| 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 | $17,808 |
| Other liabilities | $0 |
| Total liabilities | $23,890 |
| Net assets without donor restrictions | $550,955 |
| Net assets with donor restrictions | $830,343 |
| 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 | $1,405,188 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Lake Placid Sinfonietta Inc has recieved totaling $200.
| Awarding Organization | Amount |
|---|---|
Meadowhill Fund Inc Charlotte, VT PURPOSE: HUMANITIES ORG. -OPERATING SUPPORT | $200 |
Endowment Analysis
| Beg. Balance | $1,087,824 |
| Earnings | $239,487 |
| Admin Expense | $10,349 |
| Net Contributions | $50,558 |
| Other Expense | $40,507 |
| Grants | $22,139 |
| Ending Balance | $1,304,874 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jazz At Lincoln Center Inc New York, NY | $222,896,771 | $27,240,751 |
Handel And Haydn Society Boston, MA | $29,038,335 | $22,868,295 |
Groton Hill Music Inc Groton, MA | $210,830,113 | $41,196,688 |
Newport Festivals Foundation Inc Essex, MA | $20,080,911 | $11,132,304 |
Whyhunger Inc New York, NY | $5,607,325 | $7,869,621 |
Caramoor Center For Music & The Arts Inc Katonah, NY | $49,439,168 | $6,140,543 |
Save The Music Foundation New York, NY | $5,156,662 | $8,206,045 |
Rockport Music Inc Rockport, MA | $31,791,427 | $3,720,672 |
American Friends Of Les Arts Florissants Inc New York, NY | $1,107,997 | $2,546,808 |
Chicken & Egg Pictures Inc Brooklyn, NY | $9,525,742 | $4,390,371 |
Young Concert Artists Inc New York, NY | $10,777,916 | $2,607,839 |
Play On Philly Philadelphia, PA | $3,128,034 | $1,933,765 |