Overview
What is Forest Lake Park Club Inc?
Forest Lake Park Club Inc, situated in Albany, New York, is a nonprofit organization primarily focused on managing and maintaining the shared facilities and common land for its 35 cottage owners. These facilities include the water system, lakefront, tennis court, farmhouse, and barn. The club covers all associated expenses through member assessments. Additionally, the organization provides legal support to its members, helping them establish Trusts and LLCs by Association. A portion of these costs was later reimbursed to the club by one of the camp owners. The nonprofit's primary mission is to ensure its members can fully enjoy these shared facilities.
Is Forest Lake Park Club Inc legitimate?
Forest Lake Park Club Inc is a legitimate nonprofit organization registered as a 501(c)(7) entity. Forest Lake Park Club Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $3,095
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Forest Lake Park Club Inc?
Forest Lake Park Club Inc's mission is centered around maintaining the common facilities and overseeing social events for its 35 cottage owners. By managing the water system, lake front area, tennis court, farmhouse, and barn, the club ensures its members can fully enjoy these amenities. All associated expenses are covered through membership assessments, ensuring the club's financial sustainability. The club also played a role in the legal preparation of documents to establish Trust and LLCs for the association members, with some costs later being reimbursed by one of the camp owners.
What is the revenue of Forest Lake Park Club Inc?
Forest Lake Park Club Inc's revenue in 2024 was $77,195.
Who are the executives of Forest Lake Park Club Inc and what are their salaries?
There 15 volunteers at Forest Lake Park Club Inc.
Here are 11 key members and their salaries:
- Compensation: $3,200
- Related: $0
- Other: $0
- Compensation: $600
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Forest Lake Park Club Inc?
Forest Lake Park Club Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Forest Lake Park Club Inc
Forest Lake Park Club Inc, a community of 35 cottage owners, is dedicated to maintaining the common land and facilities and overseeing social events. Their mission is to ensure that all members can fully enjoy the amenities, including the water system, lakefront, tennis court, farmhouse, and barn. The club covers all associated expenses through membership assessments. The organization has taken legal measures to establish Trusts and Limited Liability Companies (LLCs) on behalf of its members, with some costs being subsequently reimbursed by one of the members.
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Impact
October, 2024
Forest Lake Park Club Inc significantly enhances the quality of life for the 35 cottage owners in Albany, NY, by maintaining essential common facilities and fostering a strong sense of community. The club ensures that vital resources such as the water system and lakefront are functional and accessible, allowing members to fully enjoy recreational activities. By overseeing the upkeep of the farmhouse, barn, and tennis court, the club creates inviting spaces for social gatherings and events, strengthening interpersonal bonds among residents.
Furthermore, the club's structured approach to managing expenses through member assessments allows for transparent financial planning, ensuring all services are effectively funded. Legal and administrative support for establishing trusts and LLCs provides a stable governance framework, empowering members to engage in collective decision-making. Overall, Forest Lake Park Club Inc plays a crucial role in preserving the community's recreational assets and encouraging social cohesion among its members.
This information is meant to be a general summary of Forest Lake Park Club Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Gross Receipts: $77,195
Assets and Liabilities:
- Total Assets: $939,610
- Total Liabilities: $0
- Net Assets: $939,610
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Organization Details
Founding Year
1925
Principal Officer
John S Wyld
NTEE Category
Code: N50 - Recreation
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