Orono Ice Arena Inc
- Assets
- $3.3m
- Revenue
- $652.2k
- Investments
- $0.0
- Employees
- 7
- Location
- Long Lake, MN
- Founding
- 09/1996
- Data as of
- 07/2022
- EIN
- 41-1845694
Organization Overview
Orono Ice Arena Inc is located in Long Lake, MN. The organization was established in 1996. According to its NTEE Classification (N30) the organization is classified as: Physical Fitness & Community Recreational Facilities, under the broad grouping of Recreation & Sports and related organizations. As of 07/2022, Orono Ice Arena Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Orono Ice Arena 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 07/2022, Orono Ice Arena Inc generated $652.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $675.1k during the year ending 07/2022. While expenses have increased by 6.4% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND FOSTER ICE SKATING AND ORGANIZED HOCKEY FOR THE LOCAL COMMUNITY, THE ORONO YOUTH HOCKEY ASSOCIATION AND ORONO HIGH SCHOOL.
Describe the Organization's Program Activity:
PROVIDE FACILITIES AND ICE TIME FOR COMMUNITY YOUTH IN ORDER TO FOSTER THE GROWTH AND INTEREST IN YOUTH HOCKEY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Meier Treasurer | OfficerTrustee | 10 | $0 |
Christian Lundsgaard President | OfficerTrustee | 10 | $0 |
Adam Nafstad Secretary | OfficerTrustee | 10 | $0 |
Laura Wallander Board Member | Trustee | 10 | $0 |
Denny Walsh Board Member | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,313 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,313 |
| Total Program Service Revenue | $608,632 |
| Investment income | $1,187 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $13,827 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $652,164 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,626 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $160,325 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,386 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,763 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $936 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $134,726 |
| Travel | $40 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,384 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $202,923 |
| Insurance | $28,885 |
| All other expenses | $1,787 |
| Total functional expenses | $675,084 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $220,168 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $57,981 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,686,021 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $327,336 |
| Total assets | $3,291,506 |
| Accounts payable and accrued expenses | $12,801 |
| Grants payable | $0 |
| Deferred revenue | $45,312 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $154,314 |
| Total liabilities | $212,427 |
| Net assets without donor restrictions | $3,079,079 |
| Net assets with donor restrictions | $0 |
| 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 | $3,291,506 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Orono Ice Arena Inc has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: PROGRAM/OPERATING SUPPORT | $250 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dubuque Racing Association Ltd Dubuque, IA | $61,524,340 | $44,438,133 |
Young Mens Christian Association Of Greater Waukesha County Inc New Berlin, WI | $45,522,336 | $21,339,242 |
Detroit Mountain Recreation Area Inc Detroit Lakes, MN | $3,604,000 | $2,203,454 |
New Richmond Area Centre Ltd New Richmond, WI | $2,632,645 | $1,659,233 |
Brown County Ice Management Inc De Pere, WI | $551,946 | $1,678,354 |
Heat Athletics Inc Franklin, WI | $0 | $70,243 |
Hayward Civic Club Inc Hayward, WI | $3,229,551 | $1,328,789 |
Madison Ice Inc Madison, WI | $3,210,061 | $1,229,246 |
Little Earth Residents Association Inc Minneapolis, MN | $940,868 | $1,610,380 |
Arenaco Coralville, IA | $45,872,582 | $554,050 |
Hermantown Arena Board Hermantown, MN | $328,983 | $736,991 |
Orono Ice Arena Inc Long Lake, MN | $3,291,506 | $652,164 |