Lphsa Inc
- Assets
- $506.3k
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 27
- Location
- Lake Placid, NY
- Founding
- Data as of
- 09/2022
- EIN
- 82-5074078
Organization Overview
Lphsa Inc is located in Lake Placid, NY. According to its NTEE Classification (N69) the organization is classified as: Equestrian, under the broad grouping of Recreation & Sports and related organizations. As of 09/2022, Lphsa Inc employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lphsa 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 09/2022, Lphsa Inc generated $2.2m in total revenue. All expenses for the organization totaled $2.6m during the year ending 09/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION WILL ORGANIZE AND OPERATE 2 HORSE SHOW COMPETITIONS EACH SUMMER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TWO WEEK LONG HORSE JUMPING COMPETITIONS ARE HELD EACH SUMMER TO PROVIDE FUNDING FOR MISSION ACTIVITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Martin Executive Dir. | Officer | 41 | $79,590 |
Louis M Jacobs Treasurer | OfficerTrustee | 1 | $0 |
Brian Sweeney Vice Chair | OfficerTrustee | 1 | $0 |
Philip Richter President | OfficerTrustee | 2 | $0 |
Timothy Hooker Secretary | OfficerTrustee | 1 | $0 |
Robert Boyd Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jamaica Tent Co Tent Rental | 9/29/22 | $285,000 |
Morrisey Management Group Feed Deposit | 9/29/22 | $274,664 |
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 | $90,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $90,000 |
| Total Program Service Revenue | $2,120,866 |
| 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 | $11,085 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,224,218 |
| 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. | $76,368 |
| Compensation of current officers, directors, key employees. | $76,368 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $80,114 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,850 |
| Payroll taxes | $14,943 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $37,501 |
| Office expenses | $6,819 |
| 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 | $494 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,632 |
| Insurance | $61,957 |
| All other expenses | $571,624 |
| Total functional expenses | $2,568,621 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $196,367 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $30,000 |
| Accounts receivable, net | $8,940 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,837 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $260,131 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $506,275 |
| Accounts payable and accrued expenses | $175,278 |
| 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 | $175,278 |
| Net assets without donor restrictions | $280,997 |
| Net assets with donor restrictions | $50,000 |
| 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 | $506,275 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Lphsa Inc has recieved totaling $26,500.
| Awarding Organization | Amount |
|---|---|
Quaker City Chester Springs, PA PURPOSE: OPERATIONS FOR EXEMPT PURPOSES | $25,000 |
Saunders Foundation Rochester, NY PURPOSE: LPHS ANNUAL FUNDRAISER | $1,000 |
Saunders Foundation Rochester, NY PURPOSE: PROGRAM FUNDING | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jockey Club New York, NY | $77,383,639 | $14,119,358 |
Ox Ridge Riding And Racquet Club Inc Darien, CT | $12,713,447 | $5,659,718 |
Pennsylvania Harness Horsemens Association Chester, PA | $47,723,168 | $7,569,633 |
Lphsa Inc Lake Placid, NY | $506,275 | $2,224,218 |
American Horse Trials Foundation Inc Southwick, MA | $1,169,339 | $2,675,908 |
Wilton Riding Club Incorporated Wilton, CT | $810,219 | $1,435,945 |
Green Mountain Horse Association Inc South Woodstock, VT | $5,227,035 | $1,822,357 |
Lovelane Special Needs Horseback Riding Program Inc Lincoln, MA | $10,298,349 | $1,902,873 |
Western New York Harness Horsemens Association Inc Batavia, NY | $1,628,703 | $1,541,793 |
Pennsylvania Horse Breeders Association Inc Kennett Square, PA | $833,317 | $1,478,049 |
Pegasus Therapeutic Riding Inc Brewster, NY | $5,410,456 | $1,539,175 |
Thorncroft Equestrian Center Malvern, PA | $14,841,730 | $1,605,648 |