Civic Intelligence

Lake George Land Conservancy Inc.

990 • Fiscal year 2018 • EIN 22-2902944

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 18, 2019

PO Box 1250Bolton Landing, NY 12814

(518) 644-9673

Siviq Scores

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

Liabilities / Assets

20th percentile

0.02x

Higher debt load relative to assets than 20% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

45th percentile

0.19x

Higher debt load relative to revenue than 45% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

95th percentile

71%

Higher net margin than 95% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

29th percentile

$121,464

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

75th percentile

11%

Faster asset growth than 75% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

91st percentile

64%

Faster revenue growth than 91% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Assets

Up

$20,974,999

Up $2,015,547 (+11%) from 2017

Net Assets

Up

$20,454,246

Up $2,191,998 (+12%) from 2017

Liabilities

Down

$520,753

Down $176,451 (-25%) from 2017

Revenue

Up

$2,725,653

Up $1,064,000 (+64%) from 2017

Expenses

Up

$786,275

Up $64,520 (+8.9%) from 2017

Net Income

Up

$1,939,378

Up $999,480 (+106%) from 2017

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $16,282,609Liabilities 2010: $5,001,105Net Assets 2010: $11,281,5042010Assets 2011: $16,620,498Liabilities 2011: $4,441,680Net Assets 2011: $12,178,8182011Assets 2012: $17,311,229Liabilities 2012: $4,679,158Net Assets 2012: $12,632,0712012Assets 2013: $15,993,280Liabilities 2013: $2,336,964Net Assets 2013: $13,656,3162013Assets 2014: $16,374,686Liabilities 2014: $2,028,303Net Assets 2014: $14,346,3832014Assets 2015: $15,893,368Liabilities 2015: $231,633Net Assets 2015: $15,661,7352015Assets 2016: $17,564,970Liabilities 2016: $538,230Net Assets 2016: $17,026,7402016Assets 2017: $18,959,452Liabilities 2017: $697,204Net Assets 2017: $18,262,2482017Assets 2018: $20,974,999Liabilities 2018: $520,753Net Assets 2018: $20,454,2462018Assets 2019: $21,777,946Liabilities 2019: $194,084Net Assets 2019: $21,583,8622019Assets 2020: $22,923,871Liabilities 2020: $67,097Net Assets 2020: $22,856,7742020Assets 2021: $25,772,963Liabilities 2021: $152,354Net Assets 2021: $25,620,6092021Assets 2022: $29,992,461Liabilities 2022: $3,080,928Net Assets 2022: $26,911,5332022Assets 2023: $35,597,900Liabilities 2023: $2,687,195Net Assets 2023: $32,910,7052023Assets 2024: $36,595,449Liabilities 2024: $123,580Net Assets 2024: $36,471,8692024Assets 2025: $46,394,863Liabilities 2025: $3,128,840Net Assets 2025: $43,266,0232025

Highlighted filing

2018

Assets$20,974,999
Liabilities$520,753
Net Assets$20,454,246

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0Expenses 2010: $501,0572010Expenses 2011: $421,7872011Expenses 2012: $429,8702012Expenses 2013: $519,0452013Revenue 2014: $1,262,093Expenses 2014: $572,026Net Income 2014: $690,0672014Revenue 2015: $1,963,055Expenses 2015: $629,979Net Income 2015: $1,333,0762015Revenue 2016: $2,067,221Expenses 2016: $654,324Net Income 2016: $1,412,8972016Revenue 2017: $1,661,653Expenses 2017: $721,755Net Income 2017: $939,8982017Revenue 2018: $2,725,653Expenses 2018: $786,275Net Income 2018: $1,939,3782018Revenue 2019: $1,914,369Expenses 2019: $922,723Net Income 2019: $991,6462019Revenue 2020: $2,261,503Expenses 2020: $904,057Net Income 2020: $1,357,4462020Revenue 2021: $2,589,518Expenses 2021: $927,169Net Income 2021: $1,662,3492021Revenue 2022: $3,330,025Expenses 2022: $974,646Net Income 2022: $2,355,3792022Revenue 2023: $6,715,601Expenses 2023: $1,141,697Net Income 2023: $5,573,9042023Revenue 2024: $3,953,376Expenses 2024: $1,227,865Net Income 2024: $2,725,5112024Revenue 2025: $7,750,481Expenses 2025: $1,455,248Net Income 2025: $6,295,2332025

Highlighted filing

2018

Revenue$2,725,653
Expenses$786,275
Net Income$1,939,378
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 18, 2019
Return Version
2017v2.2
Gross Receipts
$2,825,278
Mission and Program Overview

Mission

Dedicated to permanently preserve the natural, scenic and recreational resources of the Lake George Basin.

Dedicated to permanently preserve the natural, scenic and recreational resources of the Lake George region

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$14,663,979$16,055,529▲ $1,391,550
Investments in Publicly Traded Securities$2,936,676$3,460,028▲ $523,352
Savings and Temporary Cash Investments$486,483$920,150▲ $433,667
Cash and Non-Interest-Bearing Accounts$691,631$389,113▼ $302,518
Loans From Officers Directors$400,000$275,000▼ $125,000
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$18,959,452$20,974,999▲ $2,015,547
Other Assets Total$180,683$150,179▼ $30,504
Liabilities
Mortgage Notes Payable Secured by Investment Property$291,440$240,210▼ $51,230
Other Liabilities$5,764$5,543▼ $221
Total Liabilities$697,204$520,753▼ $176,451
Net Assets / Fund Balance
Unrestricted Net Assets$15,630,433$17,566,079▲ $1,935,646
Permanently Rstr Net Assets$2,419,583$2,719,583▲ $300,000
Temporarily Rstr Net Assets$212,232$168,584▼ $43,648
Total Net Assets Fund Balance$18,262,248$20,454,246▲ $2,191,998
Total Liabilities and Net Assets / Fund Balance$18,959,452$20,974,999▲ $2,015,547

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$954,340$364,014$1,318,354
Equipment$11,885$62,393$74,278
Land$15,059,292-$46,000
Leasehold Improvements$30,012$393$30,405
Other Land Buildings-$9,315$9,315

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$2,740,369$300,000▲ $300,776-$3,341,145
2016$2,275,234$100,000▲ $365,135-$2,740,369
2015$2,111,306$208,277▼ $44,349-$2,275,234
2014$107,990$2,003,316--$2,111,306
2013$106,490$1,500--$107,990
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jamie BrownExecutive DirectorFT$98,374$23,090$121,464

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,660,473
Program Service Revenue
$0
Investment Income
$79,650
Other Revenue
$-14,470
All Other Contributions
$2,416,578
Change in Net Assets
$1,939,378

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Other3$245,000appraisal
Securities Publicly Traded4$21,764Fair Market Value (FMV)
Other Non Cash Contri Table1$18,855Fair Market Value (FMV)
Total Noncash Contributions8$285,619-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,725,653
Revenue Not Reported on Form 990
$315,437
Total Revenue per Audited Statements
$3,041,090
Total Revenue per Form 990
$2,725,653
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$496,949
Other Expenses$283,326
Total Fundraising Expense$115,939
Grants and Similar Amounts Paid$6,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$154,036$64,704$62,799$281,539
Current Officers, Directors, Trustees, and Key Employees$77,235$25,745$25,745$128,725
Other Employee Benefits$24,374$10,157$10,157$44,688
Fees for Services Other$33,689$9,759-$43,448
Depreciation Depletion$38,093--$38,093
All Other Expenses$21,259$9,204$1,051$31,514
Payroll Taxes$16,634$6,535$6,534$29,703
Insurance$10,095$15,287-$25,382
Fees for Services Legal$13,844$10,328-$24,172
Advertising$14,059-$888$14,947
Fees for Services Accounting-$13,265-$13,265
Pension Plan Contributions$6,576$2,859$2,859$12,294
Other Expenses$2,347$4,760$1,406$8,513
Occupancy$1,937$3,662$701$6,300
Grants to Domestic Orgs$6,000--$6,000
Travel$3,634$1,772-$5,406
Conferences and Meetings$3,975--$3,975
Fees for Service Investment Mgmnt Fees-$3,894-$3,894
Office Expenses$371$1,988$331$2,690
Information Technology$28$18-$46
Total Functional Expenses$464,109$206,227$115,939$786,275

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$849,092
Expenses per Audited Statements$786,275
Total Expenses per Form 990$786,275
Expenses Not Reported on Form 990$62,817
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$53,667
Fundraising Gross Income$26,997
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
2018 Land Water Conservation Celebration$83,430$17,370$196$17,174
2017 Land Water Conservation Celebration$169,031$6,245$1,843$4,402
Total Events$268,948$25,913$49,754$-23,841
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$400,000$275,000▼ $125,000
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other payable$4,743
Security Deposit$800
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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, Line 4: Description of Significant Changes to Organizational Documents

Removed trusteeship, nominating and governance committees of the board. Transferred the powers of each to the executive committee, including; developing and nominating board members, evaluating director performance, reviewing and amending bylaws, and overseeing the annual audit.

Form 990, Part VI, Line 11B: Form 990 Review Process

A copy of the 990 is provided to the executive director, who makes the form available to all board members for review and approval.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The Board conducts all activities, including those relating to persons closely associated with them and to business and/or other organizations, in such a way that no conflict or appearance of conflict will arise between such other interest and the policies, operations and interests of LGLC. The Board maintains independence and objectivity and do what a sense of fairness, ethics and personal integrity would dictate. The Board serves the organization consistent with its mission without being influenced by any special interest group or constituency.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The board of directors reviews and approves the compensation of the executive director. The compensation of all other employees is reviewed and approved by the executive director.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The board of directors reviews and approves the compensation of the executive director. The compensation of all other employees is reviewed and approved by the executive director.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Governing documents, policies, and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Lake George Land Conservancy Inc
EIN
22-2902944
Phone
5186449673
Address
PO Box 1250, Bolton Landing, NY 12814

Signing Officer

Name
Jamie Brown
Title
Executive Director
Signed
2019-04-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jamie Brown
Formed
1988
Legal Domicile
Ny
Voting Board Members
21
Independent Board Members
20
Employees
11
Volunteers
188

Preparer

Firm
Whittemore Dowen & Ricciardelli Llp
Address
333 AVIATION RD BLDG B, QUEENSBURY, NY 12804-2915
Preparer
Colin D Combs CPA
Phone
5187920918
Supplemental Narrative

Additional Explanations

Form 990, Part IV Question 12A

The financial statements have been audited on the modified cash basis of accounting and not on the basis of generally accepted accounting principles as noted by the instructions to question 12a

Financial Statement Notes

Part II, Line 9: Organization Reporting of conservation easements.

The conservation easements are included in Lands Held for Conservation on the balance sheet. Certain donated easements received prior to 2003 have not been valued for balance sheet purposes. All other donated easements have been valued at fair market value and are included on the balance sheet.

Part V, Line 4: Intended uses of the endowment fund.

The Conservancy holds real estate interests on certain properties surrounding Lake George. The stewardship endowment consists of permanently restricted funds, the income from which can be used for the management of the properties owned and managed by the conservancy. Net assets of $107,990 and $107,990 for the years ended June 30, 2018 and 2017, respectively, are permanently restricted for stewardship purposes. The Virginia Rowan Smith and High Mountain endowments were established in 2015 and consisted of net assets of $2,611,593 and $2,311,593 for the years ended June 30, 2018 and 2017, respectively. These endowments are permanently restricted, the income from which may be used for the purpose of continuing the mission of the Conservancy.

Part X : FIN48 Footnote

In accordance with generally accepted accounting principles, the Lake George Land Conservancy accounts for uncertainty in income taxes by recognizing tax positions in the financial statements when it is more-likely-than-not the positions will be sustained upon examination by tax authorities. As of June 30, 2018, the Conservancy believes that it has appropriate support for the income tax positions taken on its tax returns and, therefore, believes that it has no uncertain tax positions that would have a material impact on the financial statements. As of June 30, 2018, the tax years that remain subject to examination by taxing authorities begin with 2015.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

special event expenses $53667

Part XII, Line 2D: Other expenses and losses per audited F/S

special event expenses $53667

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IRS990/Form990PartVIISectionAGrp/PersonNm0Tom Hall
IRS990/Form990PartVIISectionAGrp/PersonNm1George Morris
IRS990/Form990PartVIISectionAGrp/PersonNm2JEFF BROZYNA
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IRS990/Form990PartVIISectionAGrp/PersonNm11CHUCK CUMMING
IRS990/Form990PartVIISectionAGrp/PersonNm12Jim Wolitarsky
IRS990/Form990PartVIISectionAGrp/PersonNm13JENNIFER WATERHOUSE COOPER
IRS990/Form990PartVIISectionAGrp/PersonNm14ROBERT BIRCHENOUGH MD
IRS990/Form990PartVIISectionAGrp/PersonNm15Patty HasBrouck
IRS990/Form990PartVIISectionAGrp/PersonNm16JOHN J MACIONIS PHD
IRS990/Form990PartVIISectionAGrp/PersonNm17TRACEY CLOTHIER
IRS990/Form990PartVIISectionAGrp/PersonNm18JONATHAN DESANTIS
IRS990/Form990PartVIISectionAGrp/PersonNm19Michael O'Reilly
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IRS990/Form990PartVIISectionAGrp/PersonNm22DANIEL RYTERBAND
IRS990/Form990PartVIISectionAGrp/PersonNm23ELIZABETH MEIGHER
IRS990/Form990PartVIISectionAGrp/PersonNm24JAMIE BROWN
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt2Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt20Director
IRS990/Form990PartVIISectionAGrp/TitleTxt21Director
IRS990/Form990PartVIISectionAGrp/TitleTxt22Director
IRS990/Form990PartVIISectionAGrp/TitleTxt23Director
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$46.4$3.13$43.3$7.75$1.46$6.30
2024Detailed filing. Detailed filing data is available for this year.$36.6$0.12$36.5$3.95$1.23$2.73
2023Detailed filing. Detailed filing data is available for this year.$35.6$2.69$32.9$6.72$1.14$5.57
2022Detailed filing. Detailed filing data is available for this year.$30.0$3.08$26.9$3.33$0.97$2.36
2021Detailed filing. Detailed filing data is available for this year.$25.8$0.15$25.6$2.59$0.93$1.66
2020Detailed filing. Detailed filing data is available for this year.$22.9$0.07$22.9$2.26$0.90$1.36
2019Detailed filing. Detailed filing data is available for this year.$21.8$0.19$21.6$1.91$0.92$0.99
2018Detailed filing. Detailed filing data is available for this year.$21.0$0.52$20.5$2.73$0.79$1.94
2017Detailed filing. Detailed filing data is available for this year.$19.0$0.70$18.3$1.66$0.72$0.94
2016Detailed filing. Detailed filing data is available for this year.$17.6$0.54$17.0$2.07$0.65$1.41
2015Detailed filing. Detailed filing data is available for this year.$15.9$0.23$15.7$1.96$0.63$1.33
2014Detailed filing. Detailed filing data is available for this year.$16.4$2.03$14.3$1.26$0.57$0.69
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.0$2.34$13.7$0.52
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.3$4.68$12.6$0.43
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.6$4.44$12.2$0.42
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.3$5.00$11.3$0.50