TY 2023 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) FRANK COOK......................................................................
DIRECTOR

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

(2) TIMOTHY DONOVAN SR......................................................................
DIRECTOR

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

(3) DAVE MORRIS......................................................................
SECRETARY

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

(4) PHIL RICHARD......................................................................
PRESIDENT

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

(5) DAVE WHALLEY......................................................................
TREASURER

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

(6) MIKE CUMMINGS......................................................................
CHAIRMAN

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

(7) JOHN CASEY......................................................................
VICE CHAIRMAN

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 0

	(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 July 25, 2006, 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

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.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2023

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	HEAT, LIGHT & POWER: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 40,376. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,376. VEHICLE & REPAIRS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 40,270. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,270. STORE EXPENSES: PROGRAM SERVICE EXPENSES 34,400. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 34,400. WATER SYSTEM: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 28,684. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 28,684. BUILDING & FACILTY MAINTENANCE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 26,673. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 26,673. SEWER SYSTEM: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 25,779. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 25,779. MAINTENANCE CAPITAL PRESERVATION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 24,385. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 24,385. MOTEL: PROGRAM SERVICE EXPENSES 11,142. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,142. TAXES OTHER: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 8,504. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,504. SUBCONTRACTORS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 8,500. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,500. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 6,088. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,088. ROAD REPAIRS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 3,967. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,967. TELEPHONE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 3,529. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,529. GROUNDS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 2,974. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,974. ROOMS TAX - NH: PROGRAM SERVICE EXPENSES 2,906. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,906. CREDIT LOSSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 2,475. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,475. BIG PIER MAINTENANCE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 134. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 134.

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

Cat. No. 51056K

Schedule O (Form 990) 2023

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 2023 (Part V, line 2a) ......	5	9
6	Total number of volunteers (estimate if necessary) .............	6	0
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	23,716
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	22,716

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	0	0
9	Program service revenue (Part VIII, line 2g) .........	1,614,795	1,586,219
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	32,256	23,716
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)	1,647,051	1,609,935
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)	396,144	449,540
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)....	657,483	868,400
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	1,053,627	1,317,940
19	Revenue less expenses. Subtract line 18 from line 12.......	593,424	291,995
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	3,261,339	3,598,168
21	Total liabilities (Part X, line 26).............	515,609	560,444
22	Net assets or fund balances. Subtract line 21 from line 20.....	2,745,730	3,037,724

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 232,446 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 expenses232,446

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	813,240	813,240
b	ASSESSMENTS	713990	465,000	465,000
c	MARINA FEES	713990	80,825	80,825
d	OTHER REVENUES	713990	73,641	73,641
e	STORE SALES	713990	55,428	55,428
f	All other program service revenue.		98,085	98,085
g	Total. Add lines 2a–2f .....		1,586,219

3 Investment income (including dividends, interest, and othersimilar amounts) ......			23,716		23,716
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
			(i) Real	(ii) Personal
6a	Gross rents	6a
b	Less: rental expenses	6b
c	Rental income or (loss)	6c
d	Net rental income or (loss).......
			(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	7a
b	Less: cost or other basis and sales expenses	7b
c	Gain or (loss)	7c
d	Net gain or (loss).........
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
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......
12	Total revenue. See instructions.....			1,609,935	1,586,219	23,716	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........	392,745	19,126	373,619
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....
9	Other employee benefits .......	25,074		25,074
10	Payroll taxes ...........	31,721	1,945	29,776
11	Fees for services (non-employees):
a	Management ......
b	Legal .........	5,795		5,795
c	Accounting ...........	11,164		11,164
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 .......	27,415		27,415
14	Information technology ......
15	Royalties ..
16	Occupancy ...........	103,792		103,792
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 ..	117,845		117,845
23	Insurance ...	36,858		36,858
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	MARINA AND MOORING	110,458	110,458
b	TREE WORK	78,750		78,750
c	RUBBISH	53,068		53,068
d	RECREATION	52,469	52,469
e	All other expenses	270,786	48,448	222,338
25	Total functional expenses. Add lines 1 through 24e	1,317,940	232,446	1,085,494	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 ........			1,282,485	1	1,358,148
2	Savings and temporary cash investments .........				2
3	Pledges and grants receivable, net ......				3
4	Accounts receivable, net .............			118,068	4	56,744
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 ......			24,289	9	2,405
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	4,907,835
b	Less: accumulated depreciation	10b	2,734,056	1,827,428	10c	2,173,779
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 ...........			9,069	15	7,092
16	Total assets. Add lines 1 through 15 (must equal line 33)...			3,261,339	16	3,598,168

17	Accounts payable and accrued expenses .....	26,404	17	40,350
18	Grants payable ...		18
19	Deferred revenue .........	426,649	19	463,133
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 ..	59,691	23	48,836
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	2,865	25	8,125
26	Total liabilities. Add lines 17 through 25..	515,609	26	560,444

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	2,745,730	27	3,037,724
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 ...........	2,745,730	32	3,037,724
33	Total liabilities and net assets/fund balances ........	3,261,339	33	3,598,168

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 .....	1,568,993		1,568,993
b	Buildings ....	746,946	487,074	259,872
c	Leasehold improvements
d	Equipment ....	501,426	378,697	122,729
e	Other .....	2,090,470	1,868,285	222,185
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				2,173,779

(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.)

(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.)

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
ACCRUED PAYROLL AND WITHOLDINGS	8,125








Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	8,125
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