Lp-Ec Quality Destination Inc
- Assets
- $40.5k
- Revenue
- $154.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Lake Placid, NY
- Founding
- 12/2007
- Data as of
- 12/2022
- EIN
- 20-4915538
Organization Overview
Lp-Ec Quality Destination Inc is located in Lake Placid, NY. The organization was established in 2007. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lp-Ec Quality Destination 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, Lp-Ec Quality Destination Inc generated $154.4k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $158.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 8 years. 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
TO PROMOTE, EDUCATE, FOSTER, AND ENCOURAGE THE PUBLIC'S KNOWLEDGE AND UNDERSTANDING OF THE BENEFITS OF QUALITY DESTINATIONS WHICH WILL RESULT IN ECONOMIC GROWTH AND BENEFIT THE TOWNSHIPS OF ESSEX COUNTY, NEW YORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORSHIP OF HISTORIC, CULTURAL, EDUCATIONAL AND SPORTING EVENTS TO EDUCATE THE PUBLIC ABOUT THE UNIQUE ATTRIBUTES OF ESSEX COUNTY, NEW YORK AND TO ENCOURAGE TRAVEL TO THE COUNTY.
REVIVAL OF WINTER OLYMPIC BRAND TO EDUCATE THE PUBLIC ABOUT THE HISTORY OF OLYMPIC WINTER GAMES IN ESSEX COUNTY, NEW YORK; REVIVAL OF EMPIRE STATE WINTER GAMES FOR NEW YORK STATE YOUTH ATHLETES.
PLANNING AND EXECUTING SPORTING EVENTS AND OTHER UNIQUELY ADIRONDACK ACTIVITIES FOR THE BENEFIT OF STATE-WIDE TOURISM OFFICIALS, ECONOMIC DEVELOPMENT OFFICIALS, AND POLITICAL FIGURES. SUCH EVENTS INCLUDE THE ADIRONDACK DAYS AND THE ADIRONDACK CHALLENGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James B Mckenna President | OfficerTrustee | 2 | $0 |
Sarah Wilson Chair | OfficerTrustee | 2 | $0 |
Chandler Ralph Vice Chair | OfficerTrustee | 2 | $0 |
Lisa Hess-Marks Secretary | OfficerTrustee | 2 | $0 |
Marc Galvin Treasurer | OfficerTrustee | 2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $154,393 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $154,393 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,965 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $85 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $158,049 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,514 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $40,514 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $1,700 |
| 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 | $62,000 |
| Total liabilities | $63,700 |
| Net assets without donor restrictions | -$23,186 |
| 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 | $40,514 |