Civic Intelligence

Lp-Ec Quality Destination Inc.

990 • Fiscal year 2020 • EIN 20-4915538

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

Organization ProfileN/A
2608 Main StreetLake Placid, NY 12946

(518) 523-2445

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

93rd percentile

0.94x

Higher debt load relative to assets than 93% of similar nonprofits.

2020 filings • NTEE S • <$500k nonprofits • Source year 2020

Liabilities / Revenue

89th percentile

0.50x

Higher debt load relative to revenue than 89% of similar nonprofits.

2020 filings • NTEE S • <$500k nonprofits • Source year 2020

Net Margin

52nd percentile

6.1%

Higher net margin than 52% of similar nonprofits.

2020 filings • NTEE S • <$500k nonprofits • Source year 2020

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • NTEE S • <$500k nonprofits • Source year 2020

Asset Growth

5th percentile

-58%

Faster asset growth than 5% of similar nonprofits.

2020 filings • NTEE S • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

29th percentile

-42%

Faster revenue growth than 29% of similar nonprofits.

2020 filings • NTEE S • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$232,408

Down $320,074 (-58%) from 2019

Net Assets

Up

$13,143

Up $35,937 (+158%) from 2019

Liabilities

Down

$219,265

Down $356,011 (-62%) from 2019

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin52nd percentile

Revenue

Down

$438,202

Down $313,544 (-42%) from 2019

Expenses

Down

$411,265

Down $343,772 (-46%) from 2019

Net Income

Up

$26,937

Up $30,228 (+919%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0-$200KAssets 2010: $16,483Liabilities 2010: $5,525Net Assets 2010: $10,9582010Assets 2011: $21,251Liabilities 2011: $0Net Assets 2011: $21,2512011Assets 2012: $22,048Liabilities 2012: $8,800Net Assets 2012: $13,2482012Assets 2013: $38,738Liabilities 2013: $29,520Net Assets 2013: $9,2182013Assets 2014: $57,555Liabilities 2014: $28,360Net Assets 2014: $29,1952014Assets 2015: $64,210Liabilities 2015: $45,969Net Assets 2015: $18,2412015Assets 2016: $247,651Liabilities 2016: $284,189Net Assets 2016: -$36,5382016Assets 2017: $322,491Liabilities 2017: $322,224Net Assets 2017: $2672017Assets 2018: $558,867Liabilities 2018: $578,370Net Assets 2018: -$19,5032018Assets 2019: $552,482Liabilities 2019: $575,276Net Assets 2019: -$22,7942019Assets 2020: $232,408Liabilities 2020: $219,265Net Assets 2020: $13,1432020Assets 2021: $280,296Liabilities 2021: $299,826Net Assets 2021: -$19,5302021Assets 2022: $40,514Liabilities 2022: $63,700Net Assets 2022: -$23,1862022Assets 2023: $27,989Liabilities 2023: $1,561Net Assets 2023: $26,4282023Assets 2024: $21,482Liabilities 2024: $986Net Assets 2024: $20,4962024

Highlighted filing

2020

Assets$232,408
Liabilities$219,265
Net Assets$13,143
Open 2020 Filing

Operations Trend

Revenue Growth29th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2010: $19,985Expenses 2010: $28,162Net Income 2010: -$8,1772010Revenue 2011: $112,704Expenses 2011: $102,411Net Income 2011: $10,2932011Revenue 2012: $86,757Expenses 2012: $94,760Net Income 2012: -$8,0032012Revenue 2013: $239,585Expenses 2013: $243,615Net Income 2013: -$4,0302013Revenue 2014: $200,746Expenses 2014: $180,769Net Income 2014: $19,9772014Revenue 2015: $187,609Expenses 2015: $193,863Net Income 2015: -$6,2542015Revenue 2016: $318,738Expenses 2016: $373,017Net Income 2016: -$54,2792016Revenue 2017: $745,966Expenses 2017: $709,661Net Income 2017: $36,3052017Revenue 2018: $523,188Expenses 2018: $542,908Net Income 2018: -$19,7202018Revenue 2019: $751,746Expenses 2019: $755,037Net Income 2019: -$3,2912019Revenue 2020: $438,202Expenses 2020: $411,265Net Income 2020: $26,9372020Revenue 2021: $17,375Expenses 2021: $49,948Net Income 2021: -$32,5732021Revenue 2022: $154,393Expenses 2022: $158,049Net Income 2022: -$3,6562022Revenue 2023: $74,735Expenses 2023: $25,121Net Income 2023: $49,6142023Revenue 2024: $9,629Expenses 2024: $15,561Net Income 2024: -$5,9322024

Highlighted filing

2020

Revenue$438,202
Expenses$411,265
Net Income$26,937
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.1
Gross Receipts
$438,202
Mission and Program Overview

Mission

To promote, educate, foster, and encourage the public's knowledge and understanding of the benefits of quality destinations which will result in economic growth and benefit the townships of essex county, new york.

To promote, educate, foster and encourage the public's knowledge and understanding of the benefits of quality destinations which will result in economic growth and benefit of the townships of Essex County, New York.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$100,632$154,494▲ $53,862
Prepaid Expenses and Deferred Charges$131,350--
Pledges and Grants Receivable$320,500$77,914▼ $242,586
Total Assets$552,482$232,408▼ $320,074
Liabilities
Mortgage Notes Payable Secured by Investment Property$237,000$149,900▼ $87,100
Other Liabilities$73,727$62,000▼ $11,727
Accounts Payable and Accrued Expenses$51,254$5,665▼ $45,589
Deferred Revenue$213,295$1,700▼ $211,595
Total Liabilities$575,276$219,265▼ $356,011
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-22,794$13,143▲ $35,937
Total Net Assets Fund Balance$-22,794$13,143▲ $35,937
Total Liabilities and Net Assets / Fund Balance$552,482$232,408▼ $320,074
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
James McKennaPresident
James LemonsVice President
Jill CardinaleVice President
Andrea HoldereidSecretary
Marc GalvinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$77,669
Program Service Revenue
$360,533
Investment Income
$0
Other Revenue
$0
All Other Contributions
$77,669
Change in Net Assets
$26,937
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$411,265
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$2,889--$2,889
Fees for Services Accounting-$2,589-$2,589
Fees for Services Other-$257-$257
Total Functional Expenses$408,419$2,846$0$411,265
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loan from Affiliate$62,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

“Copies of Form 990 were provided to Board in advance of the filing date.”

Form 990, Part VI, Section B, line 12C

“The organization requires annual conflict of interest statements to be submitted by Board in which potential conflicts are disclosed.”

Form 990, Part VI, Section C, line 19

“Governing documents are available upon request at the organization's headquarters office at 2608 Main St, Lake Placid, NY 12046”

Filing and Contact Details

Filer

Filer Name
LP-EC Quality Destination Inc
EIN
20-4915538
Phone
5185232445
Address
2608 Main Street, Lake Placid, NY 12946

Signing Officer

Name
James B McKenna
Title
President
Phone
5185232445
Signed
2021-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James B McKenna
Formed
2006
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Adirondack Audit Co Inc
Address
30 Academy Street Suite One, Saranac Lake, NY 12983
Preparer
John B Huttlinger Jr
Phone
5188911630
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“SBA EIDL Grant Received 9,000.”

Financial Statement Notes

Part X, Line 2:

“UNCERTAINTY IN INCOME TAXES The organization follows FASB ASC 740-10, Accounting for Uncertainty in Income Taxes, which provides guidance on accounting for uncertainty in income taxes recognized in the organization's financial statements. The guidance prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of December 31, 2020, the organization had no uncertain tax positions that require either recognition or disclosure in the organization's financial statements. Generally, the tax years before 2017 are no longer subject to examination by federal and state authorities.”

Raw XML Appendix391 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt062000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Loan from Affiliate
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0UNCERTAINTY IN INCOME TAXES The organization follows FASB ASC 740-10, Accounting for Uncertainty in Income Taxes, which provides guidance on accounting for uncertainty in income taxes recognized in the organization's financial statements. The guidance prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of December 31, 2020, the organization had no uncertain tax positions that require either recognition or disclosure in the organization's financial statements. Generally, the tax years before 2017 are no longer subject to examination by federal and state authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt062000
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Copies of Form 990 were provided to Board in advance of the filing date.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization requires annual conflict of interest statements to be submitted by Board in which potential conflicts are disclosed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing documents are available upon request at the organization's headquarters office at 2608 Main St, Lake Placid, NY 12046
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SBA EIDL Grant Received 9,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XI, line 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Lake Placid Chamber of Commerce Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0141354120
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Tourism Promotion and Business Development
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02608 Main St
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Lake Placid
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd012946
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0552482
IRS990/TotalAssetsEOYAmt0232408
IRS990/TotalAssetsGrp/BOYAmt0552482
IRS990/TotalAssetsGrp/EOYAmt0232408
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt077669
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02846
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0408419
IRS990/TotalFunctionalExpensesGrp/TotalAmt0411265
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0575276
IRS990/TotalLiabilitiesEOYAmt0219265
IRS990/TotalLiabilitiesGrp/BOYAmt0575276
IRS990/TotalLiabilitiesGrp/EOYAmt0219265
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-22794
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt013143
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0408419
IRS990/TotalProgramServiceRevenueAmt0360533
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0360533
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0438202
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0552482
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0232408
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02608 Main St
IRS990/USAddress/CityNm0Lake Placid
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd012946
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0James B McKenna
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum05185232445
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LP-EC Quality Destination Inc
ReturnHeader/Filer/BusinessNameControlTxt0LP-E
ReturnHeader/Filer/EIN0204915538
ReturnHeader/Filer/PhoneNum05185232445
ReturnHeader/Filer/USAddress/AddressLine1Txt02608 Main Street
ReturnHeader/Filer/USAddress/CityNm0Lake Placid
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd012946
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0150227190
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Adirondack Audit Co Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt030 Academy Street Suite One
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Saranac Lake
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd012983
ReturnHeader/PreparerPersonGrp/PhoneNum05188911630
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0John B Huttlinger Jr
ReturnHeader/ReturnTs02021-11-15T12:40:10-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0James
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0McKenna
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$232,408
Liabilities
$219,265
Net assets
$13,143
Revenue
$438,202
Expenses
$411,265
Net income
$26,937
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.21$0.01$0.20$0.10$0.16$0.06
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.28$0.02$0.26$0.75$0.25$0.50
2022Detailed filing. Detailed filing data is available for this year.$0.41$0.64$0.23$1.54$1.58$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.80$3.00$0.20$0.17$0.50$0.33
2020Detailed filing. Detailed filing data is available for this year.$2.32$2.19$0.13$4.38$4.11$0.27
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.52$5.75$0.23$7.52$7.55$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.59$5.78$0.20$5.23$5.43$0.20
2017Detailed filing. Detailed filing data is available for this year.$3.22$3.22$0.00$7.46$7.10$0.36
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.48$2.84$0.37$3.19$3.73$0.54
2015Detailed filing. Detailed filing data is available for this year.$0.64$0.46$0.18$1.88$1.94$0.06
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.58$0.28$0.29$2.01$1.81$0.20
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.39$0.30$0.09$2.40$2.44$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.09$0.13$0.87$0.95$0.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.21$0.00$0.21$1.13$1.02$0.10
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.16$0.06$0.11$0.20$0.28$0.08