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Nonprofit · EIN 14-1354120

LAKE PLACID CHAMBER OF COMMERCE INC

Tax-exempt · LAKE PLACID, NY 12946

Financials

$5.2M$5.8M2023$6.4M$6.6M2024
Revenue Expenses · by fiscal year end
Financials of LAKE PLACID CHAMBER OF COMMERCE INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$6,388,988$6,576,188-$187,200$3,369,969$987,182$2,382,787
December 31, 2023990$5,236,462$5,826,820-$590,358$3,372,824$807,268$2,565,556
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$227,389
Program service revenue
$5,885,637
Investment income
$66,712
Net gain from sales of assets
$1,851
Other revenue
$209,250

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$75,461
Other salaries and wages
$2,026,671
Salaries, compensation and benefits (total)
$2,958,603
Professional fundraising fees
$0
Legal fees
$11,236
Accounting fees
$59,892
Occupancy
$7,580
Travel
$26,476
Depreciation
$41,094
Program services (functional)
$6,058,496
Management and general (functional)
$517,692

Balance sheet and other

Total assets, start of year
$3,372,824
Total assets, end of year
$3,369,969
Total liabilities, end of year
$987,182
Net assets, end of year
$2,382,787
Land, buildings and equipment
$79,318
Publicly traded securities
$114,656
Net assets without donor restrictions
$2,382,787
Gross receipts
$6,404,588
Employees
41
Year formed
1950
State of legal domicile
NY

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
JAMES B MCKENNACEO (PRIOR)
Former
35$144,982
JON DONKDIRECTOR
Trustee or director
1.5$0
JOSEPH GEHMDIRECTOR
Trustee or director
1.5$0
JODI GUNTHERDIRECTOR
Trustee or director
1.5$0
LISA HESS-MARKSDIRECTOR
Trustee or director
1.5$0
LESLIE KARASINDIRECTOR
Trustee or director
1.5$0
HILLARIE LOGAN-DECHENESECRETARY
Trustee or director, Officer
2$0
ALEX MADDENDIRECTOR
Trustee or director
1.5$0
NICK POLITICHAIR
Trustee or director, Officer
5$0
CHANDLER RALPHVICE CHAIR
Trustee or director, Officer
2$0
MARIANNE RAPPLEDIRECTOR
Trustee or director
1.5$0
FAVOR SMITHDIRECTOR
Trustee or director
1.5$0
GARRICK SMITHTREASURER
Trustee or director, Officer
3$0
MATT STANLEYDIRECTOR
Trustee or director
1.5$0
990 for the year ended December 31, 2023: 17 people
NameTitleHours / weekCompensation
JAMES B MCKENNACHIEF EXEC.
Key employee
35$216,102
KAREN JUDGE DALTONDIRECTOR
Trustee or director
1.5$0
STEPHANIE DEZALIADIRECTOR
Trustee or director
1.5$0
MARC GALVINTREASURER
Trustee or director, Officer
3$0
JOSEPH GEHMDIRECTOR
Trustee or director
1.5$0
CHARLES GRUNDONDIRECTOR
Trustee or director
1.5$0
JODI GUNTHERDIRECTOR
Trustee or director
1.5$0
LISA HESS-MARKSDIRECTOR
Trustee or director
1.5$0
MARK JESSIEDIRECTOR
Trustee or director
1.5$0
LESLIE KARASINDIRECTOR
Trustee or director
1.5$0
JAMES LEMONSDIRECTOR
Trustee or director
1.5$0
HILLARIE LOGAN-DECHENESECRETARY
Trustee or director, Officer
2$0
NICK POLITICHAIR
Trustee or director, Officer
5$0
CHANDLER RALPHVICE CHAIR
Trustee or director, Officer
2$0
MARIANNE RAPPLEDIRECTOR
Trustee or director
1.5$0
MATT STANLEYDIRECTOR
Trustee or director
1.5$0
GARRICK SMITHTREASURER
Officer
1.5$0

Address and contacts

Address (IRS master file)
2608 MAIN ST, LAKE PLACID, NY 12946-3545
In care of
% LYMPIC CENTER
Principal officer (990 for 2024)
NICK POLITI, 2608 MAIN STREET, LAKE PLACID, NY 12946
Signed the 990
GARRICK SMITH, TREASURER
Phone
(518) 523-2445
Return prepared by
ALEXANDER EDWARDS AND COMPANY CPAS PC

Mission

LAKE PLACID CHAMBER OF COMMERCE, INC. DBA "THE REGIONAL OFFICE OF SUSTAINABLE TOURISM / LAKE PLACID CVB" IS THE DESTINATION PLANNING AND MARKETING ORGANIZATION FOR ESSEX COUNTY, FRANKLIN COUNTY, HAMILTON COUNTY, AND THE TRI-LAKES REGION INCLUDING LAKE PLACID, LEADING ECONOMIC GROWTH THROUGH TOURISM.

990 for the year ended December 31, 2024

Program accomplishments

  • PROMOTION OF BUSINESS, TRADE AND TOURISM IN ESSEX COUNTY, NEW YORK; FRANKLIN COUNTY, NEW YORK; AND HAMILTON COUNTY, NEW YORK, INCLUDING THE TOWNSHIPS AND HAMLETS COMPRISING THOSE COUNTIES.
    Expenses $6,058,496 · revenue $5,885,637

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
14-1354120
Tax-exempt status
501(c)(6): Business league or chamber of commerce
Donations deductible
No
Exempt since
1975
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$3,369,969
Income (IRS master file)
$6,404,588

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$6,388,988$6,576,188$3,369,969XML
990December 2023$5,236,462$5,826,820$3,372,824XML
990December 2022$7,661,865$7,112,067$5,409,263IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 14-1354120).

Questions about LAKE PLACID CHAMBER OF COMMERCE INC

What is the EIN of LAKE PLACID CHAMBER OF COMMERCE INC?
The employer identification number (EIN) of LAKE PLACID CHAMBER OF COMMERCE INC is 14-1354120.
Is LAKE PLACID CHAMBER OF COMMERCE INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1975.
Are donations to LAKE PLACID CHAMBER OF COMMERCE INC tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does LAKE PLACID CHAMBER OF COMMERCE INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of LAKE PLACID CHAMBER OF COMMERCE INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did LAKE PLACID CHAMBER OF COMMERCE INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of LAKE PLACID CHAMBER OF COMMERCE INC?
The 990 for the year ended December 31, 2024 names NICK POLITI.
Who are the officers and directors of LAKE PLACID CHAMBER OF COMMERCE INC?
The 990 for the year ended December 31, 2024 lists 14 people; 1 received compensation from the organization, the highest $144,982 (JAMES B MCKENNA, CEO (PRIOR)).
How much revenue does LAKE PLACID CHAMBER OF COMMERCE INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $6,388,988, expenses of $6,576,188 and total assets of $3,369,969 at year end.

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