The Lake George Club (EIN 140817670) - 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

1908

Legal Domicile

Principal Officer

Joan Sullivan

Phone

5186685734

Tax Period

2023-01-01 to 2023-12-31

The Lake George Club, founded in 1908, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2023.

Mission

Operation of a members-only social, sailing, swimming and tennis club.

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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 $168,344

Program Service Revenue $1,532,975

Investment Income $18,288

Other Revenue $926,615

TOTAL REVENUE $2,646,222

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,637,540

Fundraising Expenses $0

Other Expenses $1,191,764

TOTAL EXPENSES $2,829,304

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,646,222	$2,516,928	+0.1%
Expenses	$2,829,304	$2,434,098	+0.2%
Net Income	$-183,082	$82,830	-3.2%

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

106

Volunteers

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Tracey Gallagher	General Manager	40.00	Highest	$119,642	$10,075	$129,717
William Finnen	Past General Manager	40.00	Highest	$117,960	$11,854	$129,814
Patrick Brown	Executive Chef	40.00	Highest	$100,495	$12,924	$113,419
Heather Ward	President	1.00	Officer Director	$0	$0	$0
Joe Favero	Vice President	1.00	Officer Director	$0	$0	$0
George Badcock	2nd Vice President	1.00	Officer Director	$0	$0	$0
Leah Menzies DeSantis	Secretary	1.00	Officer Director	$0	$0	$0
Lisa Stromberg	Assistant Secretary	1.00	Officer Director	$0	$0	$0
Joan Sullivan	Treasurer	1.00	Officer Director	$0	$0	$0
Derek Nolan	Assistant Treasurer	1.00	Officer Director	$0	$0	$0
Martha Fishel	Director	1.00	Director	$0	$0	$0
Jennifer Mabley Handler	Director	1.00	Director	$0	$0	$0
Chris LaGuardia	Director	1.00	Director	$0	$0	$0
John Lasalandra	Director	1.00	Director	$0	$0	$0
Kyle LaVoy	Director	1.00	Director	$0	$0	$0
Peter Maloy	Director	1.00	Director	$0	$0	$0
John Mason	Director	1.00	Director	$0	$0	$0
Bill Ryan	Director	1.00	Director	$0	$0	$0
Dr Jim Schneider	Director	1.00	Director	$0	$0	$0
Gregg Sherry	Director	1.00	Director	$0	$0	$0
John Tarrant	Director	1.00	Director	$0	$0	$0
Tom West	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	No data	No data	No data	No data
2023	$2,646,222	$2,829,304	$2,734,369	$-183,082
2022	$2,516,928	$2,434,098	$3,031,105	$82,830
2021	$2,441,680	$2,137,688	$2,782,225	$303,992
2020	$1,994,251	$1,669,374	$2,502,005	$324,877
2019	$1,949,785	$1,987,015	$2,042,193	$-37,230
2018	$2,122,737	$1,971,015	$2,013,447	$151,722

The Lake George Club