TY 2022 Form 990

(A)
Name and title

(B)
Average hours per week (list any hours for related organizations below dotted line)

(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)

(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)

(F)
Estimated amount of other compensation from the organization and related organizations

(1) CAROLE HALL......................................................................
PRESIDENT

1.00
.................

(2) PHIL RICHARD......................................................................
AT LARGE

1.00
.................

(3) FRANK COOK......................................................................
DIRECTOR

1.00
.................

(4) DAVE WALLEY......................................................................
DIRECTOR

1.00
.................

(5) MIKE CUMMINGS......................................................................
SECRETARY

1.00
.................

(A)
Name and title

(B)
Average hours per week (list any hours for related organizations below dotted line)

(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)

(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)

(F)
Estimated amount of other compensation from the organization and related organizations

(A)
Name and business address

(B)
Description of services

Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet

	(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 7/25/06, and not on a historic structure listed in the National Register ...	2d


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	2,865
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......	1
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d .....................	2e
3	Subtract line 2e from line 1..................	3
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b....................	4c
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......	5

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........	1
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d
e	Add lines 2a through 2d....................	2e
3	Subtract line 2e from line 1...................	3
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b
c	Add lines 4a and 4b.....................	4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......	5

Return Reference	Explanation
PART X, LINE 2:	MANAGEMENT HAS DETERMINED THAT THE ASSOCIATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS AND ASSOCIATED UNRECOGNIZED BENEFITS THAT MATERIALLY IMPACT THE FINANCIAL STATEMENTS OR RELATED DISCLOSURES.

- TIN:

SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2021

Open to Public
Inspection

Name of the organization

LSP ASSOCIATION

Employer identification number

02-0314704

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 6	CLASSES OF MEMBERS OR STOCKHOLDERS. THE ASSOCIATION IS A CORPORATION, EACH OF THE 310 MEMBERS HAS A VOTING MEMBER CERTIFICATE.
FORM 990, PART VI, SECTION A, LINE 7A	ELECTION OF MEMBERS AND THIER RIGHTS - THE ASSOCIATION MEMBERS VOTE FOR THE BOARD OF DIRECTORS
FORM 990, PART VI, SECTION A, LINE 7B	DECISIONS SUBJECT TO APPROVAL OF MEMBERS - THE MEMBERSHIP VOTES ANNUALLY ON THE BUDGET AND SPENDING FUNDS FROM RESERVES.
FORM 990, PART VI, SECTION B, LINE 11B	ORGANIZATIONS PROCESS TO REVIEW FORM 990 - THE EXECUTIVE DIRECTOR FIRST REVIEWS THE FINANCIAL STATEMENTS AND TAX RETURN IN DETAIL, THEN REVIEWS WITH THE TREASURER BEFORE APPROVING FOR FINALIZTION.
FORM 990, PART VI, SECTION B, LINE 12C	THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE FOR INSPECTION UPON RECEIPT OF A WRITTEN REQUEST.
FORM 990, PART VI, SECTION B, LINE 15A	THE HIRING COMMITTEE AND BOARD OF DIRECTORS DETERMINE COMPENSATION AND REVIEW WITH OUTSIDE SOURCES TO DETERMINE'THAT THEY ARE CONSISTENT WITH COMPARABLE POSITIONS BY OTHER COMPANIES.
FORM 990, PART VI, SECTION C, LINE 19	ENFORCEMENT OF CONFLICTS POLICY - THE BOARD OF DIRECTORS AND THE EXECUTIVE DIRECTOR ANNUALLY REVIEW AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY.
FORM 990, PART IX, LINE 24E	BUILDING & FACILTY MAINTENANCE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 35,284. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 35,284. VEHICLE & REPAIRS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 22,313. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 22,313. WATER SYSTEM: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 21,258. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 21,258. MOTEL: PROGRAM SERVICE EXPENSES 19,540. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,540. MARINA AND MOORING: PROGRAM SERVICE EXPENSES 16,125. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,125. SEWER SYSTEM: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 16,104. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,104. ROAD REPAIRS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 15,079. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 15,079. GROUNDS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 4,771. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,771. ROOMS TAX - NH: PROGRAM SERVICE EXPENSES 4,430. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,430. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 4,194. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,194. TAXES OTHER: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 3,589. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,589. SUBCONTRACTORS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 3,455. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,455. TELEPHONE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 897. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 897. BIG PIER MAINTENANCE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 285. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 285.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) 2021

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: OPERATE A SOCIAL RECREATIONAL CLUB
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	5
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	5
5	Total number of individuals employed in calendar year 2021 (Part V, line 2a) ......	5	7
6	Total number of volunteers (estimate if necessary) .............	6	0
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	10,756
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	9,756

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	0	0
9	Program service revenue (Part VIII, line 2g) .........	841,127	1,614,795
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	3,265	32,256
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	0	0
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	844,392	1,647,051
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	0	0
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	281,220	396,144
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	685,797	657,483
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	967,017	1,053,627
19	Revenue less expenses. Subtract line 18 from line 12.......	-122,625	593,424
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	2,550,176	3,261,339
21	Total liabilities (Part X, line 26).............	407,927	515,609
22	Net assets or fund balances. Subtract line 21 from line 20.....	2,142,249	2,745,730

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 97,425 including grants of $ ) (Revenue $ )
	PROVIDE VARIOUS RECREATIONAL ACTIVITIES AND SOCIAL FUNCTIONS FOR THE 310 MEMBERS, THIER FAMILIES AND FRIENDS.

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	N/A

4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	N/A

4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses97,425

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)...........	0	0	0

(A) Name and business address	(B) Description of services	(C) Compensation





2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 0

1a	Federated campaigns..	1a
b	Membership dues..	1b
c	Fundraising events..	1c
d	Related organizations	1d
e	Government grants (contributions)	1e

f	All other contributions, gifts, grants, and similar amounts not included above	1f

g	Noncash contributions included in lines 1a - 1f:$	1g

h Total. Add lines 1a-1f.......

		Business Code
2a	MEMBER DUES	713990	716,750	716,750
b	ASSESSMENTS	713990	620,000	620,000
c	OTHER REVENUES	713990	103,418	103,418
d	MARINA FEES	713990	81,289	81,289
e	MOTEL	713990	39,275	39,275
f	All other program service revenue.		54,063	54,063
g	Total. Add lines 2a–2f .....		1,614,795

3 Investment income (including dividends, interest, and othersimilar amounts) ......			10,756		10,756
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
		(ii) Personal	(i) Real
6a	Gross rents			6a
b	Less: rental expenses			6b
c	Rental income or (loss)			6c
d	Net rental income or (loss).......
		(ii) Other	(i) Securities
7a	Gross amount from sales of assets other than inventory	21,500		7a
b	Less: cost or other basis and sales expenses	0		7b
c	Gain or (loss)	21,500		7c
d	Net gain or (loss).........			21,500	21,500
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
			8a
b	Less: direct expenses ...		8b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..
Business Code			Miscellaneous Revenue
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......
12	Total revenue. See instructions.....			1,647,051	1,636,295	10,756	0

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............
4	Benefits paid to or for members .......
5	Compensation of current officers, directors, trustees, and key employees ...........
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........	347,529	15,878	331,651
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....
9	Other employee benefits .......	21,098		21,098
10	Payroll taxes ...........	27,517	1,214	26,303
11	Fees for services (non-employees):
a	Management ......	35,328		35,328
b	Legal .........	15,000		15,000
c	Accounting ...........	6,780		6,780
d	Lobbying ...........
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)
12	Advertising and promotion ....
13	Office expenses .......	33,222		33,222
14	Information technology ......
15	Royalties ..
16	Occupancy ...........	112,035		112,035
17	Travel ............
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....
20	Interest ...........
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	85,354		85,354
23	Insurance ...	27,478		27,478
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	RUBBISH	48,658		48,658
b	TREE WORK	44,500		44,500
c	HEAT, LIGHT & POWER	41,566		41,566
d	RECREATION	40,238	40,238
e	All other expenses	167,324	40,095	127,229
25	Total functional expenses. Add lines 1 through 24e	1,053,627	97,425	956,202	0
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

1	Cash–non-interest-bearing ........			748,474	1	1,282,485
2	Savings and temporary cash investments .........			126,897	2
3	Pledges and grants receivable, net ......				3
4	Accounts receivable, net .............			18,360	4	118,068
5	Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
					5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
					6
7	Notes and loans receivable, net ...........				7
8	Inventories for sale or use ............				8
9	Prepaid expenses and deferred charges ......			23,702	9	24,289
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	4,445,616
b	Less: accumulated depreciation	10b	2,618,188	1,632,743	10c	1,827,428
11	Investments—publicly traded securities .				11
12	Investments—other securities. See Part IV, line 11 .....				12
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			0	15	9,069
16	Total assets. Add lines 1 through 15 (must equal line 33)...			2,550,176	16	3,261,339

17	Accounts payable and accrued expenses .....	48,501	17	26,404
18	Grants payable ...		18
19	Deferred revenue .........	268,808	19	426,649
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..	72,307	23	59,691
24	Unsecured notes and loans payable to unrelated third parties ..		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D	18,311	25	2,865
26	Total liabilities. Add lines 17 through 25..	407,927	26	515,609

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	2,142,249	27	2,745,730
28	Net assets with donor restrictions ...........		28
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....		29
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds		31
32	Total net assets or fund balances ...........	2,142,249	32	2,745,730
33	Total liabilities and net assets/fund balances ........	2,550,176	33	3,261,339

1a	Beginning of year balance ....
b	Contributions ...
c	Net investment earnings, gains, and losses
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...
f	Administrative expenses ....
g	End of year balance ......

1a	Land .....	1,037,359		1,037,359
b	Buildings ....	746,946	471,089	275,857
c	Leasehold improvements
d	Equipment ....	459,785	338,525	121,260
e	Other .....	2,201,526	1,808,574	392,952
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				1,827,428

(a) Description of security or category (including name of security)	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(1) Financial derivatives.........
(2) Closely-held equity interests........
(3)Other
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)