Laketown Gym
- Assets
- $1.4m
- Revenue
- $990.2k
- Investments
- $0.0
- Employees
- 66
- Location
- Waconia, MN
- Founding
- 08/2013
- Data as of
- 12/2021
- EIN
- 45-2455454
Organization Overview
Laketown Gym is located in Waconia, MN. The organization was established in 2013. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Laketown Gym employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laketown Gym 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 12/2021, Laketown Gym generated $990.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $689.8k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
AT LAKETOWN GYMNASTICS, WE WILL WORK WITH EACH GYMNAST TO SET GOALS, DEVELOP INDIVIDUAL PLANS AND PROVIDE SUPPORT AND DIRECTION NEEDED TO ACHIEVE THOSE GOALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECREATIONAL GYMNASTIC INSTRUCTION, OPEN GYM, PRODUCT SALES, COMPETITIVE TEAM GYMNASTIC INSTRUCTION, AND OTHER RELATED ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tammie Coleman Executive Director | Officer | 40 | $59,193 |
Samantha Leighton Vice President | OfficerTrustee | 1 | $0 |
Angie Foss President | OfficerTrustee | 1 | $0 |
Mary Amhrein Secretary | OfficerTrustee | 1 | $0 |
Ryan Reed Treasurer | OfficerTrustee | 1 | $0 |
Sarah Kroells Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $179,768 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,601 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $196,369 |
| Total Program Service Revenue | $792,133 |
| Investment income | $162 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | -$478 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $990,150 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $59,193 |
| Compensation of current officers, directors, key employees. | $59,193 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $249,637 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $26,098 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,891 |
| Fees for services: Accounting | $11,042 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,809 |
| Advertising and promotion | $5,578 |
| Office expenses | $7,362 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $97,613 |
| Travel | $1,310 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $49,068 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,048 |
| Insurance | $28,030 |
| All other expenses | $14,728 |
| Total functional expenses | $689,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $338,495 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $63,777 |
| 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 | $12,460 |
| Net Land, buildings, and equipment | $1,011,497 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,985 |
| Total assets | $1,433,214 |
| Accounts payable and accrued expenses | $7,875 |
| Grants payable | $0 |
| Deferred revenue | $43,332 |
| 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 | $1,092,287 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $186,040 |
| Total liabilities | $1,329,534 |
| Net assets without donor restrictions | $103,680 |
| 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 | $1,433,214 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Laketown Gym has recieved totaling $67.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $67 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Edina Country Club Edina, MN | $21,372,241 | $7,831,351 |
Wayzata Country Club Wayzata, MN | $17,523,529 | $10,501,613 |
Oak Ridge Country Club Hopkins, MN | $13,821,924 | $8,175,238 |
The Summit League Inc Sioux Falls, SD | $12,416,599 | $5,663,074 |
Minnehaha Country Club Sioux Falls, SD | $14,982,683 | $7,335,530 |
Wakonda Club Des Moines, IA | $7,236,069 | $6,317,346 |
Lake Panorama Association Panora, IA | $17,811,601 | $6,436,840 |
Rochester Golf & Country Club Rochester, MN | $18,588,891 | $5,719,819 |
Hyperion Field Club Johnston, IA | $6,332,058 | $5,789,094 |
Cedar Rapids Country Club Cedar Rapids, IA | $15,264,326 | $6,818,996 |
Westmoor Country Club Brookfield, WI | $8,894,635 | $6,849,120 |
Crow Valley Golf Club Davenport, IA | $9,047,795 | $5,702,774 |