Adirondack Foundation
- Assets
- $88.9m
- Revenue
- $9.3m
- Investments
- $3.1m
- Employees
- 15
- Location
- Lake Placid, NY
- Founding
- 10/1997
- Data as of
- 06/2023
- EIN
- 16-1535724
Organization Overview
Adirondack Foundation is located in Lake Placid, NY. The organization was established in 1997. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2023, Adirondack Foundation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adirondack Foundation 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 06/2023, Adirondack Foundation generated $9.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $7.2m during the year ending 06/2023. While expenses have increased by 12.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Adirondack Foundation has awarded 1,474 individual grants totaling $24,036,081. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCING THE LIVES OF PEOPLE IN THE ADIRONDACKS THROUGH PHILANTHROPY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADIRONDACK FOUNDATION PLAYS A UNIQUE ROLE IN THE REGION BY 1) STEWARDING CHARITABLE ASSETS FROM GENEROUS PEOPLE WHO CARE ABOUT THE AREA AND WANT TO MAKE A DIFFERENCE, 2) MAKING GRANTS TO NONPROFITS, SCHOOLS, AND MUNICIPALITIES, AND 3) SERVING AS A COMMUNITY LEADER. THE FOUNDATION VALUES COLLABORATION, ACCOUNTABILITY, INCLUSION, DIVERSITY, AND COMPASSION IN ITS WORK. IT STEWARDS MORE THAN 250 CHARITABLE FUNDS AND ITS PRIMARY GRANTMAKING AREAS ARE: EDUCATION, COMMUNITY VITALITY, ECONOMIC OPPORTUNITY, ENVIRONMENT, HUMAN WELL-BEING, AND ARTS AND CULTURE. ITS LEADERSHIP WORK INCLUDES ESTABLISHING THE ADIRONDACK NONPROFIT NETWORK, HELPING TO DEVELOP THE ADIRONDACK COMMON GROUND ALLIANCE, AND COORDINATING THE ADIRONDACK BIRTH TO THREE ALLIANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph C Steiniger Chair | OfficerTrustee | 3 | $0 |
Bill Creighton Treasurer | OfficerTrustee | 1 | $0 |
Holly Wolff Secretary | OfficerTrustee | 1 | $0 |
Lawson Prince Allen Trustee | Trustee | 1 | $0 |
Jim Allison Trustee | Trustee | 1 | $0 |
David Brunner Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,109,320 |
| Noncash contributions included in lines 1a–1f | $3,206,544 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,109,320 |
| Total Program Service Revenue | $138,839 |
| Investment income | $1,986,913 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $56,371 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,291,443 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,420,268 |
| Grants and other assistance to domestic individuals. | $10,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $162,223 |
| Compensation of current officers, directors, key employees. | $51,337 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $814,383 |
| Pension plan accruals and contributions | $19,445 |
| Other employee benefits | $40,951 |
| Payroll taxes | $76,711 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $81,339 |
| Fees for services: Other | $120,924 |
| Advertising and promotion | $46,271 |
| Office expenses | $109,812 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,800 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,894 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,600 |
| Insurance | $4,780 |
| All other expenses | $55,279 |
| Total functional expenses | $7,201,553 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $255,489 |
| Savings and temporary cash investments | $68,614 |
| Pledges and grants receivable | $1,879,262 |
| 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 | $241,276 |
| Investments—publicly traded securities | $83,272,146 |
| Investments—other securities | $3,095,325 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $41,127 |
| Total assets | $88,853,239 |
| Accounts payable and accrued expenses | $27,584 |
| Grants payable | $110,250 |
| 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 | $24,696,505 |
| Total liabilities | $24,834,339 |
| Net assets without donor restrictions | $63,409,155 |
| Net assets with donor restrictions | $609,745 |
| 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 | $88,853,239 |
Grants Awarded
Over the last fiscal year, Adirondack Foundation has awarded $4,660,371 in support to 222 organizations.
| Grant Recipient | Amount |
|---|---|
ADIRONDACK CENTER FOR WRITING PURPOSE: FOR UNRESTRICTED SUPPORT AT THE REQUEST OF ELIZABETH FOLWELL | $5,221 |
ADIRONDACK CHAPTER OF THE NATURE CONSERVANCY PURPOSE: FOR SUPPORT OF THE CHAPTER'S WORK IN THE CHAMPLAIN VALLEY IN MEMORY OF HYDE BROWNELL | $10,000 |
ADIRONDACK CHAPTER OF THE NATURE CONSERVANCY PURPOSE: FOR VARIOUS PROGRAMS WHICH PETER WILL OUTLINE TO SOPHIA. PLEASE DIRECT ATTENTION TO SOPHIA MCCLELLAND | $12,500 |
ADIRONDACK CHAPTER OF THE NATURE CONSERVANCY PURPOSE: FOR SUPPORT OF THE INDIGENOUS ALLIES PROGRAM | $10,000 |
ADIRONDACK CHAPTER OF THE NATURE CONSERVANCY PURPOSE: TO SUPPORT THE NATURE CONSERVANCY'S DEI WORK IN THE ADIRONDACKS | $50,000 |
ADIRONDACK CHAPTER OF THE NATURE CONSERVANCY PURPOSE: FOR UNRESTRICTED SUPPORT | $70,000 |