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Lake Placid Olympic Museum

Tax-deductible

Lake Placid, NY501(c)(3)Arts & Culture EIN 16-1517554Revenue $60K in FY2025Latest return filed Feb 9, 2026

On file with the IRSOlympic Center 2634 Main Street, 12946-0000 · Lake Placid, NYTax-exempt since Oct 1998Publicly supported — 509(a)(2)

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The organization operates the Lake Placid Olympic Museum in Lake Placid, New York with support from the Olympic Regional Development Authority which is a quasi New York State agency.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Run by 11 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $4K a year · 10% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
90 mo
of spending, in cash
Looks good: 90.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $500
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$60K
+16% vs prior year
Spent
$26K
To programs
85%
Net assets
$2.8M
By yearFY2021–FY2025
Revenue
$60K
FY2025▲ +16%
Tap a bar for its year
Revenue by fiscal year
FY2021$21K
FY2022$48K
FY2023$34K
FY2024$52K
FY2025$60K
Expenses
$26K
FY2025▼ -68%
Tap a bar for its year
Expenses by fiscal year
FY2021$9K
FY2022$47K
FY2023$31K
FY2024$81K
FY2025$26K
Net assets
$2.8M
FY2025▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2021$2.8M
FY2022$2.8M
FY2023$2.8M
FY2024$2.8M
FY2025$2.8M

From the FY2025 Form 990 (year ending March 2025) · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1998.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $22K Management & general 15% · $4K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Kari Hoffman
Vice President
$0Pt VII · Sec A
Kelly Gonyo
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Lake Placid Olympic Museum executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Operates the Lake Placid Olympic Museum, preserving sports history.

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Provided by the organization

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1 program · $22K · in their own filed words · FY2024
01

The lake placid olympic museum has on display memorabilia and artifacts related to the 1932 & 1980 lake placid winter olympics. The museum conducts tours for school age children and is open to the public for viewing all year round. 25,000 to 35,000 people visit the museum annually.

$22Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Cloudslitter FoundationFY2024$500
Total grants receivedfrom 1 funder$500

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$60K
Ln 12
Fees for servicesLn 2g$32K
Gifts and grantsLn 1h$23K
Investment incomeLn 3$5K
Money outPt IX
$26K
Ln 25
Programscol B$22K
Managementcol C$4K
Owns and owesPt X
$2.8M
net assets · Ln 32
Cash and savingsLn 1–2$197K
Total assetsLn 16$2.8M
LiabilitiesLn 26$0
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$23K
Fees for servicesLn 2g$32K
Investment incomeLn 3$5K
Total revenueLn 12$60K
Assets in detailPt X, end of year
CashLn 1$197K
Cash and savings togetherLn 1–2$197K
InvestmentsLn 11–13$108K
Total assetsLn 16$2.8M
LiabilitiesLn 26$0
Net assetsLn 32$2.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 611
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$188K$197K
InvestmentsLn 11–13$104K$108K
Total assetsLn 16$2.8M$2.8M
LiabilitiesLn 26$0$0
Net assetsLn 32$2.8M$2.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$2K
Advertising and promotionLn 12$126$126
Office expensesLn 13$727$727
Conferences, conventions and meetingsLn 19$403$403
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$17K$17K
All other expensesLn 24e$5K$5K$275
Total functional expensesLn 25$26K$22K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS Feb 9, 2026 $60K$26K$34K$2.8M 990 PDF
FY2024Filed with the IRS Dec 16, 2024 $52K$81K−$29K$2.8M 990 PDF
FY2023Filed with the IRS Feb 15, 2024 $34K$31K$2K$2.8M 990 PDF
FY2022Filed with the IRS Aug 2, 2022 $48K$47K$999$2.8M 990 PDF
FY2021Filed with the IRS Aug 9, 2021 $21K$9K$12K$2.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $60,311 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $20,128$22,956
I-9 Program service revenuePrior year $24,610$32,082
I-10 Investment incomePrior year $7,343$5,273
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $52,081$60,311
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $80,627$26,168
I-18 Total expensesPrior year $80,627$26,168
I-19 Revenue less expensesPrior year −$28,546$34,143
Part VI · Governance 13 of 13 board members independent, 1 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $60,311 across 5 lines filed
VIII-1f All other contributions, gifts and grants$22,956
VIII-1h Total contributions, gifts and grants$22,956
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $32,082$32,082
VIII-3 Investment incomeExcluded from tax $5,273$5,273
VIII-12 Total revenueRelated to mission $32,082 · Unrelated business $0 · Excluded from tax $5,273$60,311
Part IX · Statement of functional expenses $26,168 across 7 lines filed
IX-11c Accounting feesManagement $2,225$2,225
IX-12 Advertising and promotionPrograms $126$126
IX-13 Office expensesPrograms $727$727
IX-19 Conferences, conventions and meetingsManagement $403$403
IX-23 InsuranceManagement $1,005$1,005
IX-24 Other expenses (24a–d)Programs $16,784$16,784
IX-24e All other expensesPrograms $4,623 · Management $275$4,898
IX-25 Total functional expensesPrograms $22,260 · Management $3,908 · Fundraising $0$26,168
Part X · Balance sheet $2,809,998 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $188,214$197,379
X-8 Inventories for sale or useStart of year $2,483,983$2,505,030
X-11 Publicly traded securitiesStart of year $103,658$107,589
X-16 Total assetsStart of year $2,775,855$2,809,998
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $2,672,197$2,702,409
X-28 Net assets with donor restrictionsStart of year $103,658$107,589
X-32 Total net assets or fund balancesStart of year $2,775,855$2,809,998
X-33 Total liabilities and net assetsStart of year $2,775,855$2,809,998
Part XI · Reconciliation of net assets $2,809,998 net assets at year end
XI-1 Total revenue$60,311
XI-2 Total expenses$26,168
XI-3 Revenue less expenses$34,143
XI-4 Net assets at start of year$2,775,855
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,809,998

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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