The Lake Hopatcong Foundation A New Jersey Nonprofit Corporation
- Assets
- $2.8m
- Revenue
- $818.3k
- Investments
- $0.0
- Employees
- 9
- Location
- Landing, NJ
- Founding
- 02/2013
- Data as of
- 12/2022
- 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 12/2022, Lake Hopatcong Foundation A New Jersey Nonprofit Corporation employed 9 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 12/2022, Lake Hopatcong Foundation A New Jersey Nonprofit Corporation generated $818.3k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $588.8k during the year ending 12/2022. 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
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 AND PUBLIC EDUCATION CRUISES, 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 BLOCK PARTY. IMPROVE AND ENHANCE RECREATIONAL OPPORTUNITIES BY OFFERING GUIDED HIKING AND PADDLE TRIPS AND MAINTAIN 11 MILES OF THE LAKE HOPATCONG TRAIL AND WORKING TO EXPAND THE TRAIL TO BE 40 MILES AROUND LAKE HOPATCONG. 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 OFFERING COMMUNITY PROGRAMING AND TO SERVE AS THE OFFICE FOR THE LAKE HOPATCONG FOUNDATION.
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 AROUND THE LAKE TO IMPLEMENT WATER QUALITY IMPROVEMENT PROJECTS AND PROJECTS TO MITIGATE THE IMPACTS OF HARMFUL ALGAL BLOOMS (HABS) THROUGHOUT THE WATERSHED. THE FOUNDATION 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 |
|---|---|---|---|
Thomas D Flinn Trustee | Trustee | 2 | $0 |
Martin Kane Chairman & Trustee | OfficerTrustee | 15 | $0 |
Richard P Romeo Secretary & Trustee | OfficerTrustee | 2 | $0 |
Sheri Salamanca Trustee | Trustee | 2 | $0 |
Ben Terner Trustee | Trustee | 2 | $0 |
Gary Whitman Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $198,547 |
| Related organizations | $0 |
| Government grants | $227,205 |
| All other contributions, gifts, grants, and similar amounts not included above | $249,116 |
| Noncash contributions included in lines 1a–1f | $4,560 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $674,868 |
| Total Program Service Revenue | $79,055 |
| Investment income | $327 |
| 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 | $818,317 |
| 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. | $81,015 |
| Compensation of current officers, directors, key employees. | $4,358 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $194,821 |
| Pension plan accruals and contributions | $5,687 |
| Other employee benefits | $32,041 |
| Payroll taxes | $25,428 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,932 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,727 |
| Advertising and promotion | $1,254 |
| Office expenses | $17,052 |
| Information technology | $6,116 |
| Royalties | $0 |
| Occupancy | $24,186 |
| Travel | $1,183 |
| 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 | $14,510 |
| All other expenses | $3,234 |
| Total functional expenses | $588,757 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $465,297 |
| Savings and temporary cash investments | $182,299 |
| Pledges and grants receivable | $122,431 |
| Accounts receivable, net | $19,020 |
| 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 | $1,980,306 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,769,353 |
| Accounts payable and accrued expenses | $45,391 |
| Grants payable | $0 |
| Deferred revenue | $16,020 |
| 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 | $61,411 |
| Net assets without donor restrictions | $2,628,267 |
| Net assets with donor restrictions | $79,675 |
| 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 | $2,769,353 |
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 |
|---|---|
JEFFERSON TOWNSHIP FIRE DEPT2 PURPOSE: donation of fire boat | $9,000 |
STATE OF NEW JERSEY PURPOSE: weed harvest | $15,000 |