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Lake Placid Association for Music Drama & Art Inc

EIN 14-6030874 · Lake Placid, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood78 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • Only 47% of its spending went to programs.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

THE LAKE PLACID CENTER FOR THE ARTS IS DEDICATED TO PRESENTING AND FOSTERING QUALITY ARTS, WHICH INSPIRE, ENRICH, EDUCATE, AND ENTERTAIN PEOPLE OF ALL AGES.

Income
$10.9 million
Spending
$2.6 million
Spent on programs
47%
Reserves
10.9 months of spending
Largest source of income
donations and private grants, 77%
Employees
9
Highest pay
$87,154, executive di

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 78 out of 100. Higher than 53% of charities in its peer group (arts and culture, $10m to $100m).

  • Reserves

    28 of 35

    Spendable reserves would cover 10.9 months of spending.

  • Debt

    20 of 20

    It owes 7% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 76% of income.

  • Income trend

    15 of 15

    Income rose 227% on the year before.

  • Spending floor

    0 of 15

    47% of spending went to programs and raising each dollar of donations cost 5 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 34% of charities in its peer group (arts and culture, $10m to $100m).

  • Independent board

    25 of 25

    19 of 19 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (5)
  1. $486,090 spent. PRESENTING PROGRAMS: THE LAKE PLACID CENTER FOR THE ARTS PRESENTED ARTS PROGRAMS INCLUDING: 32 FILM SCREENINGS; 15 MUSIC PERFORMANCES; 9 DANCE PERFORMANCES; 12 THEATRE PERFORMANCES.
  2. $466,685 spent. GALLERY PROGRAMS: THE LAKE PLACID CENTER FOR THE ARTS PRESENTED 6 GALLERY EXHIBITIONS IN THE FINE ARTS GALLERY. THE LAKE PLACID CENTER FOR THE ARTS ALSO OPERATED A GALLERY ON MAIN STREET IN DOWNTOWN LAKE PLACID.
  3. $271,867 spent. EDUCATION PROGRAMS: THE LAKE PLACID CENTER FOR THE ARTS PRESENTED ARTS EDUCATION INCLUDING: 3 ARTS EDUCATION PROGRAMS; 7 THEATRE PERFORMANCES; 2 DANCE PERFORMANCES; 3 MUSIC PERFORMANCES; BALLET AND DANCE TRAINING SCHOOL WITH 1 RECITALS AND 32 WEEKS OF INSTRUCTION; 1 ARTISTIC RESIDENCIES.
  4. NEW YORK STATE COUNCIL ON THE ARTS GRANT TO DISTRIBUTE TO OTHER ART ORGANIZATIONS TO ENCOURAGE PERFORMANCES TO VARIOUS AREAS. AWARDS WERE GIVEN TO OVER 70 ORGANIZATIONS.
  5. NEW YORK STATE COUNCIL ON THE ARTS GRANT TO DISTRIBUTE TO OTHER ART ORGANIZATIONS TO ENCOURAGE PERFORMANCES TO VARIOUS AREAS. AWARDS WERE GIVEN TO OVER 70 ORGANIZATIONS.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since August 1964.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.