Lakes Area Gymnastics Booster Club
- Assets
- $3.4m
- Revenue
- $255.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Perham, MN
- Founding
- 02/2005
- Data as of
- 12/2023
- EIN
- 57-1188855
Organization Overview
Lakes Area Gymnastics Booster Club is located in Perham, MN. The organization was established in 2005. According to its NTEE Classification (O12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakes Area Gymnastics Booster Club 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 12/2023, Lakes Area Gymnastics Booster Club generated $255.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 32.0% each year . All expenses for the organization totaled $244.1k during the year ending 12/2023. While expenses have increased by 35.0% per year over the past 6 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT - SUPPORT GYMNASTICS ACTIVITIES FOR HIGH SCHOOL COMPETITIVE USAG AND RECREATIONAL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Foltz President | 1 | $0 | |
Larry Myers Vice President | 0 | $0 | |
Paula Mickelson Secretary | 0 | $0 | |
Lisa Anderson Treasurer | 1 | $0 | |
Carmin Close Director | 0 | $0 | |
Brad Erickson Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,200 |
| Interest on Savings | $26 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $138,222 |
| Total Revenue | $255,750 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $54,495 |
| Taxes | $0 |
| Depreciation | $90,521 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $97,708 |
| Total operating and administrative expenses | $243,474 |
| Contributions, gifts, grants paid | $595 |
| Total expenses and disbursements | $244,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,277 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $3,349,297 |
| Other assets | $0 |
| Total assets | $3,390,574 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $1,466,088 |
| Other liabilities | $0 |
| Total liabilities | $1,466,088 |
Grants Awarded
Over the last fiscal year, Lakes Area Gymnastics Booster Club has awarded $595 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PERHAM AREA YOUTH FITNESS ACADEMY PURPOSE: TO HELP WITH OPERATIONS | $95 |
PERHAM AREA SCHOLARSHIP FUND PURPOSE: FOR SCHOLARSHIPS GIVEN OUT | $500 |