The Lake Hopatcong Foundation A New Jersey Nonprofit Corporation
- Assets
- $2.5m
- Revenue
- $677.0k
- Investments
- $0.0
- Employees
- 10
- Location
- Landing, NJ
- Founding
- 02/2013
- Data as of
- 12/2021
- EIN
- 45-4894683
Organization Overview
The Lake Hopatcong Foundation A New Jersey Nonprofit Corporation is located in Landing, NJ. The organization was established in 2013. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Lake Hopatcong Foundation A New Jersey Nonprofit Corporation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Hopatcong Foundation A New Jersey Nonprofit Corporation 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, Lake Hopatcong Foundation A New Jersey Nonprofit Corporation generated $677.0k 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 (3.9%) each year. All expenses for the organization totaled $524.2k 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
FOCUSING ON ENHANCING THE LAKE HOPATCONG ENVIRONMENT AND EXPERIENCE, WITH EFFORTS THAT INCLUDE WATER QUALITY, PUBLIC SAFETY, LAKE EDUCATION, COMMUNITY COHESIVENESS, HISTORICAL PRESERVATION, ENVIRONMENTAL PROTECTION, PUBLIC INFORMATION, AND ARTS AND CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL OUTREACH/PUBLIC INFORMATION SERVICES - IMPLEMENT OUTREACH PROGRAMS ON AQUATIC INVASIVE SPECIES PROTECTION AND LAKE ECOLOGY, ENVIRONMENTAL EDUCATION FIELD TRIPS, PUBLIC SAFETY AND B-SAFE DOCK NUMBER PROGRAMS.COMMUNITY - BUILD A SENSE OF LAKE COMMUNITY AND SUPPORT LOCAL BUSINESSES THAT SURROUND IT THROUGH THE ANNUAL LAKE HOPATCONG FOUNDATION BLOCK PARTY EVENT.RECREATION - IMPROVE AND ENHANCE RECREATIONAL OPPORTUNITIES, BUILD AND BLAZE THE 40-MILE LAKE HOPATCONG TRAIL.ENVIRONMENTAL AND CULTURAL CENTER - RESTORE AND RE PURPOSE THE HISTORICAL LAKE HOPATCONG TRAIN STATION IN LANDING FOR USE AS THE LAKE HOPATCONG CULTURAL ENVIRONMENTAL CENTER AND LHC OFFICE.
WATER QUALITY- THE LAKE HOPATCONG FOUNDATION WORKS TO MAINTAIN AND IMPROVE THE LAKE ENVIRONMENT AS THE HEALTH OF THE LAKE AFFECTS ALL FACETS OF THE LAKE HOPATCONG EXPERIENCE. THE FOUNDATION PARTNERS WITH OTHER STAKEHOLDER GROUPS TO IMPLEMENT WATER QUALITY IMPROVEMENT AND HARMFUL ALGAL BLOOM (HAB) MITIGATION PROJECTS THROUGHOUT THE WATERSHED, OVERSEES HAB VOLUNTEER MONITORING AND REPORTING PROGRAM, PREVENTS THE INTRODUCTION AND LIMITS THE SPREAD OF NEW AQUATIC INVASIVE SPECIES THROUGH PUBLIC OUTREACH AND VOLUNTEER EFFORTS, AND CONDUCTS ROADSIDE AND LAKE-WIDE DEBRIS CLEANUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kyle Richter Executive Director | Officer | 40 | $51,782 |
Martin Kane Chairman & Trustee | OfficerTrustee | 15 | $0 |
Rich Romeo Trustee & Secretary | OfficerTrustee | 2 | $0 |
Robert Hamburger Vice Chairman & Treasurer | OfficerTrustee | 2 | $0 |
Thomas D Flinn Trustee | Trustee | 2 | $0 |
Ben Terner Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $136,832 |
| Related organizations | $0 |
| Government grants | $144,738 |
| All other contributions, gifts, grants, and similar amounts not included above | $276,893 |
| Noncash contributions included in lines 1a–1f | $11,382 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $558,463 |
| Total Program Service Revenue | $67,685 |
| Investment income | $228 |
| 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 | $676,963 |
| 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. | $55,891 |
| Compensation of current officers, directors, key employees. | $2,599 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $183,515 |
| Pension plan accruals and contributions | $5,265 |
| Other employee benefits | $28,458 |
| Payroll taxes | $22,022 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,290 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,884 |
| Advertising and promotion | $2,028 |
| Office expenses | $8,561 |
| Information technology | $14,425 |
| Royalties | $0 |
| Occupancy | $17,511 |
| Travel | $338 |
| 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 | $72,354 |
| Insurance | $22,275 |
| All other expenses | $3,423 |
| Total functional expenses | $524,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $366,297 |
| Savings and temporary cash investments | $228,892 |
| Pledges and grants receivable | $59,301 |
| Accounts receivable, net | $52,238 |
| 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 | $1,838,580 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,545,308 |
| Accounts payable and accrued expenses | $61,926 |
| Grants payable | $0 |
| Deferred revenue | $5,000 |
| 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 | $66,926 |
| Net assets without donor restrictions | $2,408,521 |
| Net assets with donor restrictions | $69,861 |
| 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 | $2,545,308 |
Grants Awarded
Over the last fiscal year, The Lake Hopatcong Foundation A New Jersey Nonprofit Corporation has awarded $24,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
STATE OF NEW JERSEY PURPOSE: weed harvest | $15,000 |
JEFFERSON TOWNSHIP FIRE DEPT2 PURPOSE: donation of fire boat | $9,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Lake Hopatcong Foundation A New Jersey Nonprofit Corporation has recieved totaling $98,298.
| Awarding Organization | Amount |
|---|---|
Cleveland Foundation Cleveland, OH PURPOSE: GENERAL SUPPORT | $98,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $298 |
Endowment Analysis
| Beg. Balance | $78,815 |
| Other Expense | $78,815 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Park Conservancy Inc New York, NY | $389,474,475 | $64,665,936 |
City Parks Foundation Inc New York, NY | $46,351,327 | $21,146,324 |
Pier55 Inc New York, NY | $281,389,922 | $61,475,219 |
Bryant Park Corporation New York, NY | $13,271,219 | $15,814,011 |
Paul Simons Foundation Inc Stony Brook, NY | $121,782,003 | $9,487,542 |
Rosedale And Rosehill Cemetery Association Linden, NJ | $201,463,807 | $21,638,955 |
Prospect Park Alliance Inc Brooklyn, NY | $34,463,999 | $14,619,569 |
Avalon Nature Preserve Inc Stony Brook, NY | $43,010,885 | $9,560,636 |
The Pittsburgh Parks Conservancy Pittsburgh, PA | $20,284,178 | $5,028,888 |
Friends Of Hudson River Park Inc New York, NY | $3,524,338 | $4,419,034 |
White Haven Memorial Park Inc Pittsford, NY | $20,072,674 | $7,692,818 |
John Bartram Association Philadelphia, PA | $5,352,246 | $2,805,370 |