The Lake George Club

Nonprofit profile at a glance

EIN
140817670
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Diamond Point, NY, USA
Phone
5186685734
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$4,167,735
Expenses
$2,764,575
Assets
$4,160,684
Liabilities
$266,183

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

21 people listed

Executive titles in this filing

  • Heather Ward (President)
  • Joe Favero (Vice President)
  • George Badcock (2nd Vice President)

Highest reported compensation

  • Tracey Gallagher (General Manager): $169,286 total reported compensation
  • Desmond Smith (Executive Chef): $110,382 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Operation of a members-only social, sailing, swimming and tennis club.

What it reported doing in 2024

Operate a members only social, sailing, swimming and tennis club.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 45
  • Transparency & Controls: 100
  • Accountability: 82
  • Sustainability: 67
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.8%; rating input score 48
  • Program expense ratio: 53.9%; rating input score 54
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 33.7%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 1.5; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 10.1%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 47.8% of revenue deployed · 53.9% of spending went to programs
  • Governance: 19 of 19 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $169K · 21 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 3 filed schedules · includes related organizations
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
  • Review — Financial Efficiency: Program expense ratio scored 54/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.