Lake Placid Education Foundation
- Assets
- $7.3m
- Revenue
- $0.0
- Investments
- $7.3m
- Employees
- 0
- Location
- Lake Placid, NY
- Founding
- 02/1952
- Data as of
- 06/2023
- EIN
- 51-0243919
Organization Overview
Lake Placid Education Foundation is located in Lake Placid, NY. The organization was established in 1952. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Placid Education Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2021, Lake Placid Education Foundation has awarded 37 individual grants totaling $604,134. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
GRANTS ARE MADE TO SCHOOLS, BOTH PUBLIC AND PRIVATE, FOR MANY DIFFERENT PURPOSES, INCLUDING SCHOLARSHIPS, EQUIPMENT, OPERATING EXPENSES OR OTHER SPECIAL NEEDS.LIBRARIES ARE SUPPORTED THROUGH GRANTS FOR COLLECTION ADDITIONS, SPECIAL STUDIES, STAFF TRAINING, OPERATIONS, EQUIPMENT, ETC.ARTS AND OTHER CULTURAL ORGANIZATIONS ARE AIDED FOR EDUCATIONAL ACTIVITIES ESPECIALLY THOSE LINKED WITH EDUCATIONAL INSTITUTIONS AND THOSE THAT RELATE TO GENERAL PUBLIC EDUCATION.RESTORATIONS PROGRAMS TO PROVIDE EDUCATORS AND LIBRARIANS WITH THE OPPORTUNITY TO "RENEW" THEMSELVES THROUGH QUIET STUDY AND RELAXATION AWAY FROM THE PRESSURE OF THEIR USUAL WORK ENVIRONMENT.SEEDSOWING THE STUDY OF NEW IDEAS IN THE AREAS OF EDUCATION AND LIBRARY SCIENCE, HELPING ORGANIZATIONS START NEW PROJECTS AND ASSISTING INNOVATION IN A VARIETY OF WAYS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS ARE MADE TO SCHOOLS, BOTH PUBLIC AND PRIVATE, FOR MANY DIFFERENT PURPOSES, INCLUDING SCHOLARSHIPS, EQUIPMENT, OPERATING EXPENSES OR OTHER SPECIAL NEEDS.
ARTS AND OTHER CULTURAL ORGANIZATIONS ARE AIDED FOR EDUCATIONAL ACTIVITIES ESPECIALLY THOSE LINKED WITH EDUCATIONAL INSTITUTIONS AND THOSE THAT RELATE TO GENERAL PUBLIC EDUCATION.
LIBRARIES ARE SUPPORTED THROUGH GRANTS FOR COLLECTION ADDITIONS, SPECIAL STUDIES, STAFF TRAINING, OPERATIONS, EQUIPMENT, ETC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Rosenthal President | OfficerTrustee | 1 | $0 |
Catherine Johnston Vice President | OfficerTrustee | 1 | $0 |
Adele Connors Secretary | OfficerTrustee | 1 | $0 |
Lisa Weibrecht Treasurer | OfficerTrustee | 1 | $0 |
Sara Johns Director | Trustee | 1 | $0 |
Hilary Mcdonald Director | Trustee | 1 | $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 | $0 |
| 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 | $0 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $422,399 |
| 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 | $975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,552 |
| Fees for services: Other | $0 |
| 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 | $450,926 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $7,274,881 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,274,881 |
| 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 | $7,274,881 |
| 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 | $7,274,881 |
Grants Awarded
Over the last fiscal year, Lake Placid Education Foundation has awarded $206,500 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
LAKE PLACID CENTRAL SCHOOL DISTRICT PURPOSE: FOR THE 2023 LAKE PLACID EDUCATION FOUNDATION SCHOLARSHIP RECIPIENTS | $20,000 |
SARANAC LAKE CENTRAL PRIZE FUND PURPOSE: FOR THE 2023 LPEF SCHOLARSHIP | $10,000 |
BRUCE L CRARY FOUNDATION INC PURPOSE: IN SUPPORT OF 2 FOUNDATION CO-OP SCHOLARSHIPS FOR NON TRADITIONAL STUDENTS | $6,500 |
THOMAS A SHIPMAN MEMORIAL YOUTH CENTER PURPOSE: FOR YOUTH AND COMMUNITY PROGRAMMING | $10,000 |
LAKE PLACID CENTER FOR THE ARTS PURPOSE: FOR EDUCATION PROGRAMMING AND ARTS OUTREACH | $50,000 |
LAKE PLACID SINFONIETTA INC PURPOSE: FOR 2022 SEASON | $17,500 |