Skaneateles Lake Association Inc
- Assets
- $795.9k
- Revenue
- $487.5k
- Investments
- $666.5k
- Employees
- 27
- Location
- Skaneateles, NY
- Founding
- 02/1970
- Data as of
- 12/2023
- EIN
- 23-7045486
Organization Overview
Skaneateles Lake Association Inc is located in Skaneateles, NY. The organization was established in 1970. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Skaneateles Lake Association Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Skaneateles Lake Association 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 12/2023, Skaneateles Lake Association Inc generated $487.5k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $623.3k during the year ending 12/2023. While expenses have increased by 16.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO PROMOTE PROTECTION OF THE WATER QUALITY OF SKANEATELES LAKE AND ENVIRONMENTALLY SOUND REGIONAL MANAGEMENT OF ITS WATERSHED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTED A LAKE-WIDE MILFOIL ERADICATION/MANAGEMENT PROGRAM, CONDUCTED A STEWARD PROGRAM AT VARIOUS LAKE LAUNCH SITES TO CHECK BOATS FOR INVASIVE SPECIES UPON ENTERING AND LEAVING THE LAKE, AND ENGAGED IN COMMUNITY-WIDE EDUCATION ON THE BEST MANAGEMENT PRACTICES FOR LAND USE IN ORDER TO CONTROL NUTRIENT LOADING INTO THE LAKE AND SOIL EROSION AROUND THE LAKE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul F Torrisi MD President | OfficerTrustee | 5 | $0 |
Buzz Roberts MD Vice President | OfficerTrustee | 5 | $0 |
Richard D Hole ESQ Treasurer | OfficerTrustee | 5 | $0 |
Patricia Orr Secretary | OfficerTrustee | 5 | $0 |
David Allyn Director | Trustee | 2 | $0 |
William Dean PHD Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $78,250 |
| All other contributions, gifts, grants, and similar amounts not included above | $386,255 |
| Noncash contributions included in lines 1a–1f | $9,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $464,505 |
| Total Program Service Revenue | $0 |
| Investment income | $22,980 |
| 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 | $487,485 |
| 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. | $74,686 |
| Compensation of current officers, directors, key employees. | $5,975 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,937 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,250 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,063 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $177,953 |
| Advertising and promotion | $100 |
| Office expenses | $1,793 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,300 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $572 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,898 |
| Insurance | $12,149 |
| All other expenses | $10,541 |
| Total functional expenses | $623,312 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,738 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,426 |
| 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 | $12,217 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $666,514 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $795,895 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $789,880 |
| Net assets with donor restrictions | $6,015 |
| 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 | $795,895 |