LAKE PLACID OLYMPIC MUSEUM

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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

1998

Legal Domicile

Principal Officer

KELLY GONYO

Phone

5183025326

Tax Period

2024-04-01 to 2025-03-31

LAKE PLACID OLYMPIC MUSEUM, founded in 1998, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $60K in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $34K, a strong 57% operating margin.

Mission

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.

Program Service Accomplishments

Program 1

Expenses: $22,260 Revenue: $32,082

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...

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.

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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 (2024)

Revenue Breakdown

Contributions & Grants $22,956

Program Service Revenue $32,082

Investment Income $5,273

Other Revenue $0

TOTAL REVENUE $60,311

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $22,260

Other Expenses $26,168

TOTAL EXPENSES $26,168

Year-over-Year Comparison

	2024	2023	Change
Revenue	$60,311	$52,081	+0.2%
Expenses	$26,168	$80,627	-0.7%
Net Income	$34,143	$-28,546	-2.2%

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

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JONATHAN BECKER	PRESIDENT	1.00	Director	$0	$0	$0
KARI HOFFMAN	VICE PRESIDENT	1.00	Director	$0	$0	$0
KELLY GONYO	TREASURER	1.00	Director	$0	$0	$0
CATHERINE BEMIS	SECRETARY	1.00	Director	$0	$0	$0
DENIS CHAGNON	TRUSTEE	1.00	Director	$0	$0	$0
GREG GALLACHER	TRUSTEE	1.00	Director	$0	$0	$0
STUART HEMSLEY	TRUSTEE	1.00	Director	$0	$0	$0
NANCY BEATTIE	TRUSTEE	1.00	Director	$0	$0	$0
GORDY SHEER	TRUSTEE	1.00	Director	$0	$0	$0
DAVE JONES	TRUSTEE	1.00	Director	$0	$0	$0
BILL KISSEL	TRUSTEE	1.00	Director	$0	$0	$0
NELSON PAGE	TRUSTEE	1.00	Director	$0	$0	$0
KIM STANTON	TRUSTEE	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
2025	$60,311	$26,168	$2,809,998	$34,143
2024	$52,081	$80,627	$2,775,855	$-28,546
2023	$33,501	$31,205	$2,844,459	$2,296
2022	$48,050	$47,051	$2,802,105	$999
2021	$21,334	$9,267	$2,801,106	$12,067
2020	$27,887	$25,436	$2,750,203	$2,451
2019	$38,637	$37,318	$2,746,570	$1,319