Grandmas Marathon Duluth Inc
- Assets
- $4.6m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 45
- Location
- Duluth, MN
- Founding
- 10/1988
- Data as of
- 09/2023
- EIN
- 41-1573627
Organization Overview
Grandmas Marathon Duluth Inc is located in Duluth, MN. The organization was established in 1988. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., under the broad grouping of Recreation & Sports and related organizations. As of 09/2023, Grandmas Marathon Duluth Inc employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grandmas Marathon Duluth Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Grandmas Marathon Duluth Inc generated $3.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $3.4m during the year ending 09/2023. While expenses have increased by 3.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE DEVELOPMENT AND PROMOTION OF GRANDMA'S MARATHON AND ITS SUPPORTING EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FULL MARATHON - REGISTERED 9,705 RUNNERS
OTHER RACES:WILLIAM A. IRVIN 5K - 1,669 RUNNERS REGISTEREDNORTH END NIGHTMARE 5K - 454 RUNNERS REGISTEREDMINNESOTA MILE - 560 RUNNERS REGISTEREDFITGER'S 5K - 907 RUNNERS REGISTEREDST. FENNESSEY 4K - 534 RUNNERS REGISTEREDPART POINT 5-MILER - 529 RUNNERS REGISTEREDKP CHALLENGE - 208 RUNNERS REGISTERED
HALF MARATHON - REGISTERED 10,274 RUNNERS
YOUNG ATHLETES WERE PROVIDED WITH UNIFORMS, SPORTS EQUIPMENT, AND SPONSORSHIPS. $31,889.69 WAS PROVIDED FOR TRACK/CROSS COUNTRY SHOES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Stanley Chair | OfficerTrustee | 1 | $0 |
Kristi Schmidt Vice Chair | OfficerTrustee | 1 | $0 |
Laurajae Laura Johnson At-Large | OfficerTrustee | 1 | $0 |
Joe Wicklund At-Large | OfficerTrustee | 1 | $0 |
Wing Chan At-Large | OfficerTrustee | 1 | $0 |
Ross Fremont Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $30,223 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $285,382 |
| Noncash contributions included in lines 1a–1f | $215,796 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $315,605 |
| Total Program Service Revenue | $2,942,043 |
| Investment income | $100,346 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$50,033 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $164,890 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,522,849 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $61,626 |
| Grants and other assistance to domestic individuals. | $31,890 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $148,082 |
| Compensation of current officers, directors, key employees. | $74,042 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $663,191 |
| Pension plan accruals and contributions | $27,089 |
| Other employee benefits | $69,129 |
| Payroll taxes | $50,121 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,117 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,642 |
| Fees for services: Other | $0 |
| Advertising and promotion | $122,959 |
| Office expenses | $176,698 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,702 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,454 |
| Interest | $6,620 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,211 |
| Insurance | $40,762 |
| All other expenses | $791,573 |
| Total functional expenses | $3,418,891 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,715 |
| Savings and temporary cash investments | $2,759,167 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,279 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,507 |
| Net Land, buildings, and equipment | $943,493 |
| Investments—publicly traded securities | $751,130 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,610,291 |
| Accounts payable and accrued expenses | $96,346 |
| Grants payable | $0 |
| Deferred revenue | $10,267 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $97,771 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,088 |
| Total liabilities | $213,472 |
| Net assets without donor restrictions | $4,255,350 |
| Net assets with donor restrictions | $141,469 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,610,291 |