Civic Intelligence

Lp-Ec Quality Destination Inc.

990 • Fiscal year 2022 • EIN 20-4915538

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

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

96th percentile

1.57x

Higher debt load relative to assets than 96% of similar nonprofits.

2022 filings • NTEE S • <$500k nonprofits • Source year 2022

Liabilities / Revenue

89th percentile

0.41x

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

2022 filings • NTEE S • <$500k nonprofits • Source year 2022

Net Margin

36th percentile

-2.4%

Higher net margin than 36% of similar nonprofits.

2022 filings • NTEE S • <$500k nonprofits • Source year 2022

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

2022 filings • NTEE S • <$500k nonprofits • Source year 2022

Asset Growth

2nd percentile

-86%

Faster asset growth than 2% of similar nonprofits.

2022 filings • NTEE S • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

98th percentile

789%

Faster revenue growth than 98% of similar nonprofits.

2022 filings • NTEE S • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$40,514

Down $239,782 (-86%) from 2021

Net Assets

Down

-$23,186

Down $3,656 (-19%) from 2021

Liabilities

Down

$63,700

Down $236,126 (-79%) from 2021

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin36th percentile

Revenue

Up

$154,393

Up $137,018 (+789%) from 2021

Expenses

Up

$158,049

Up $108,101 (+216%) from 2021

Net Income

Up

-$3,656

Up $28,917 (+89%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2022

Assets$40,514
Liabilities$63,700
Net Assets-$23,186
Open 2022 Filing

Operations Trend

Revenue Growth98th 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

2022

Revenue$154,393
Expenses$158,049
Net Income-$3,656
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$154,393
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$276,766$40,514▼ $236,252
Prepaid Expenses and Deferred Charges$3,530--
Total Assets$280,296$40,514▼ $239,782
Liabilities
Mortgage Notes Payable Secured by Investment Property$150,000--
Other Liabilities$62,000$62,000→ $0
Accounts Payable and Accrued Expenses$28,450--
Deferred Revenue$59,376$1,700▼ $57,676
Total Liabilities$299,826$63,700▼ $236,126
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-19,530$-23,186▼ $3,656
Total Net Assets Fund Balance$-19,530$-23,186▼ $3,656
Total Liabilities and Net Assets / Fund Balance$280,296$40,514▼ $239,782
Compensation and Service Providers
Top Officer Pay81st percentile

Board Members and Trustees

NameTitle
Sarah WilsonChair
James B MckennaPresident
Chandler RalphVice Chair
Lisa Hess-marksSecretary
Marc GalvinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$154,393
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-3,656
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$158,049
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$2,896--$2,896
Fees for Services Accounting-$1,965-$1,965
Fees for Services Other-$85-$85
Total Functional Expenses$155,999$2,050$0$158,049
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
Backup withholding compliance
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, Page 6, Part VI, Line 11B

“Copies of form 990 were provided to the board in advance of the filing date.”

Form 990, Page 6, Part VI, Line 12C

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

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request at the organization's headquarters office at 2608 main street, 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
2023-11-15
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

Preparer

Firm
Alexander Edwards and Company Cpas Pc
Address
47 DOCK ST, PLATTSBURGH, NY 12901
Preparer
Jessica a Langfield
Phone
5185631600
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“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, 2022, the organization had no uncertain tax positions that require either recognition or disclosure in the organization's financial statements. Generally, the tax years before 2019 are no longer subject to examination by federal and state authorities.”

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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/SupplementalInformationDetail/ExplanationTxt0THE 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, 2022, THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT REQUIRE EITHER RECOGNITION OR DISCLOSURE IN THE ORGANIZATION'S FINANCIAL STATEMENTS. GENERALLY, THE TAX YEARS BEFORE 2019 ARE NO LONGER SUBJECT TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0COPIES OF FORM 990 WERE PROVIDED TO THE BOARD IN ADVANCE OF THE FILING DATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REQUIRES ANNUAL CONFLICT OF INTEREST STATEMENTS TO BE SUBMITTED BY THE BOARD IN WHICH POTENTIAL CONFLICTS ARE DISCLOSED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S HEADQUARTERS OFFICE AT 2608 MAIN STREET, LAKE PLACID, NY 12046
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES B MCKENNA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05185232445
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LP-EC QUALITY DESTINATION INC
ReturnHeader/Filer/BusinessNameControlTxt0LP-E
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ReturnHeader/Filer/PhoneNum05185232445
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ReturnHeader/Filer/USAddress/CityNm0LAKE PLACID
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0813902230
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ALEXANDER EDWARDS AND COMPANY CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt047 DOCK ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PLATTSBURGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd012901
ReturnHeader/PreparerPersonGrp/PhoneNum05185631600
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JESSICA A LANGFIELD
ReturnHeader/ReturnTs02023-11-15T12:20:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JAMES
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MCKENNA
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$40,514
Liabilities
$63,700
Net assets
-$23,186
Revenue
$154,393
Expenses
$158,049
Net income
-$3,656
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
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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