Lp-Ec Quality Destination Inc
- Assets
- $280.3k
- Revenue
- $17.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Lake Placid, NY
- Founding
- 12/2007
- Data as of
- 12/2021
- 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 12/2021, Lp-Ec Quality Destination Inc generated $17.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (28.8%) each year. All expenses for the organization totaled $49.9k during the year ending 12/2021. 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
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; WE HOSTED THE 2019 INTERNATIONAL CHILDRENS WINTER GAMES TO FOSTER WORLDWIDE COLLABORATION VIA SPORT AND CULTURAL INTERCHANGE.
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 |
|---|---|---|---|
Sarah Wilson Chair | OfficerTrustee | 2 | $0 |
James B Mckenna President | OfficerTrustee | 2 | $0 |
Chandler Ralph Vice Chair | OfficerTrustee | 2 | $0 |
Marc Galvin Treasurer | OfficerTrustee | 2 | $0 |
Lisa Hess-Marks Secretary | 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 | $11,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,000 |
| Total Program Service Revenue | $6,375 |
| 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 | $17,375 |
| 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 | $2,007 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $135 |
| 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 | $49,948 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $276,766 |
| 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 | $3,530 |
| 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 | $280,296 |
| Accounts payable and accrued expenses | $28,450 |
| Grants payable | $0 |
| Deferred revenue | $59,376 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $62,000 |
| Total liabilities | $299,826 |
| Net assets without donor restrictions | -$19,530 |
| 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 | $280,296 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lp-Ec Quality Destination Inc has recieved totaling $11,000.
| Awarding Organization | Amount |
|---|---|
Pierce Family Charitable Foundation Naples, FL PURPOSE: GENERAL | $11,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Choose New Jersey Inc Newark, NJ | $7,145,867 | $9,053,939 |
Dauphin County Economic Development Corporation Harrisburg, PA | $8,424,591 | $10,449,757 |
Ben Franklin Technology Partners Of Northeastern Pennsylvania Inc Bethlehem, PA | $58,069,128 | $6,233,285 |
Greater Pittsburgh Convention & Visitors Bureau Inc Pittsburgh, PA | $10,210,665 | $8,196,256 |
Structured Employment Economic Development Corporation New York, NY | $3,440,081 | $6,983,803 |
Delaware Valley Industrial Resource Center Philadelphia, PA | $2,959,574 | $7,894,285 |
Elizabeth Development Company Of New Jersey Elizabeth, NJ | $19,921,454 | $5,978,138 |
Pa Irc Network Foundation Williamsport, PA | $229,668 | $6,193,798 |