Lake George Corporation
- Assets
- $578.3k
- Revenue
- $419.7k
- Investments
- $0.0
- Employees
- 13
- Location
- Skowhegan, ME
- Founding
- 06/1993
- Data as of
- 12/2020
- EIN
- 01-0477896
Organization Overview
Lake George Corporation is located in Skowhegan, ME. The organization was established in 1993. 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 12/2020, Lake George Corporation employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake George 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 12/2020, Lake George Corporation generated $419.7k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 21.0% each year . All expenses for the organization totaled $156.5k during the year ending 12/2020. While expenses have increased by 2.3% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PARK SERVICE TO VISITORS. THE PARK IS OPEN YEAR-ROUND WITH FEES CHARGED DURING THE SUMMER MONTHS. FREE PROGRAMS ARE RUN FOR SCHOOL CHILDREN DURING THE YEAR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PARK SERVICE TO VISITORS. THE PARK IS OPEN YEAR-ROUND WITH FEES CHARGED DURING THE SUMMER MONTHS. FREE PROGRAMS ARE RUN FOR SCHOOL CHILDREN DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darryll White Chief Park A | Officer | 20 | $27,825 |
Joseph Kennedy President | OfficerTrustee | 5 | $0 |
Heather Kerner Secretary | OfficerTrustee | 5 | $0 |
Warren Shay Clerk | OfficerTrustee | 1 | $0 |
Nancy Ames Treasurer | OfficerTrustee | 5 | $0 |
Emilee Robertson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $47,915 |
| All other contributions, gifts, grants, and similar amounts not included above | $239,462 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $287,377 |
| Total Program Service Revenue | $108,915 |
| Investment income | $3,672 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,146 |
| Net Income from Fundraising Events | $11,630 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $419,740 |
| 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. | $64,302 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,932 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,066 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,065 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,173 |
| Advertising and promotion | $1,442 |
| Office expenses | $6,041 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,148 |
| Travel | $1,553 |
| 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 | $669 |
| Insurance | $6,138 |
| All other expenses | $596 |
| Total functional expenses | $156,537 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $356,722 |
| Savings and temporary cash investments | $21,554 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $332 |
| 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 | $161 |
| Investments—publicly traded securities | $199,494 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $578,263 |
| Accounts payable and accrued expenses | $1,556 |
| 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 | $111 |
| Total liabilities | $1,667 |
| Net assets without donor restrictions | $288,020 |
| Net assets with donor restrictions | $288,576 |
| 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 | $578,263 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Lake George Corporation has recieved totaling $15,487.
| Awarding Organization | Amount |
|---|---|
Maine Community Foundation Inc Ellsworth, ME PURPOSE: Community & Neighborhood Development | $15,000 |
Franklin Savings Bank Community Development Foundation Farmington, ME PURPOSE: GENERAL OPERATING SUPPORT | $300 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $187 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Crossroads Inc Atkinson, NH | $8,920,461 | $38,376,189 |
York County Shelter Programs Inc Alfred, ME | $7,515,033 | $5,469,246 |
Our Katahdin Millinocket, ME | $1,421,809 | $1,815,951 |
Portland Housing Development Corporation Portland, ME | $5,328,711 | $2,757,076 |
Northern Aroostook Alternatives Inc Van Buren, ME | $1,275,126 | $1,273,850 |
Downtown Improvement District Inc Portland, ME | $317,810 | $1,068,998 |
Capital Regional Development Council Concord, NH | $14,984,194 | $977,983 |
Harbor House Community Service Center Southwest Harbor, ME | $2,151,335 | $1,095,406 |
Granite State Organizing Project Manchester, NH | $626,444 | $1,199,163 |
Southern Maine Finance Agency Biddeford, ME | $7,727,125 | $658,421 |
Belknap County Economic Development Council Inc Laconia, NH | $5,665,349 | $1,533,067 |
Kennebunkport Heritage Housing Trust 2 Kennebunkport, ME | $281,718 | $538,218 |