LAKE GEORGE OPERA FESTIVAL ASSOCIATION INC (EIN 132505803) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1962

Legal Domicile

Principal Officer

STEVEN ROSENBLUM

Phone

5185846018

Tax Period

2023-10-01 to 2024-09-30

LAKE GEORGE OPERA FESTIVAL ASSOCIATION INC, founded in 1962, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum.

Mission

OPERA SARATOGA'S INNOVATIVE WORLD CLASS PERFORMANCES AND PROGRAMS INSPIRE, EDUCATE, AND HEAL AUDIENCES AND ARTISTS THROUGH THE POWER OF THE HUMAN VOICE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $805,234

Program Service Revenue $269,212

Investment Income $23

Other Revenue $68,670

TOTAL REVENUE $1,143,139

Expense Breakdown

Grants Paid $0

Salaries & Benefits $283,467

Fundraising Expenses $56,695

Program Expenses $871,450

Other Expenses $900,427

TOTAL EXPENSES $1,183,894

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,143,139	$867,287	+0.3%
Expenses	$1,183,894	$970,664	+0.2%
Net Income	$-40,755	$-103,377	-0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

$73,115

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY BIRNBAUM	GENERAL AND ARTISTIC DIRECTOR	40.00	Director	$73,115	$0	$73,115
ROBERT MILLER	CHAIRMAN	4.00	Officer Director	$0	$0	$0
KENNETH RITZENBERG	DIRECTOR	4.00	Director	$0	$0	$0
STEVEN ROSENBLUM	PRESIDENT	15.00	Officer Director	$0	$0	$0
GEORGE R HEARST III	DIRECTOR	1.00	Director	$0	$0	$0
HOLLY KATZ	DIRECTOR	1.00	Director	$0	$0	$0
ELLEN JABBUR	DIRECTOR	1.00	Director	$0	$0	$0
DR CHRISTINE ROWE-BUTTON	DIRECTOR	1.00	Director	$0	$0	$0
DR NORBERT WOODS	DIRECTOR	1.00	Director	$0	$0	$0
JOHN ZIZZO	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
ROBERT STOUT	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM LYNCH	DIRECTOR	10.00	Director	$0	$0	$0
ILSE DE VEER	TREASURER	4.00	Officer Director	$0	$0	$0
CAROL MARKLEY	DIRECTOR	5.00	Director	$0	$0	$0
JEFF ALTAMARI	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT BULLOCK	SECRETARY	4.00	Officer Director	$0	$0	$0
DEREK STANNARD	DIRECTOR	1.00	Director	$0	$0	$0
JASON GOLUB	DIRECTOR	1.00	Director	$0	$0	$0
HON CHRISTINA L RYBA	DIRECTOR	1.00	Director	$0	$0	$0
ABBY TEGNELIA	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,143,139	$1,183,894	$306,185	$-40,755
2023	$867,287	$970,664	$235,597	$-103,377
2023	$867,287	$970,664	$217,717	$-103,377
2022	$1,274,066	$1,721,725	$424,101	$-447,659
2021	$1,192,996	$937,191	$321,221	$255,805
2020	$602,436	$568,448	$205,218	$33,988
2019	$1,215,186	$1,140,985	$78,541	$74,201
2018	$1,055,414	$1,169,740	$90,891	$-114,326

LAKE GEORGE OPERA FESTIVAL ASSOCIATION INC