Great Reno Balloon Race Inc
- Assets
- $222.3k
- Revenue
- $596.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Reno, NV
- Founding
- 09/2012
- Data as of
- 11/2023
- EIN
- 88-0196071
Organization Overview
Great Reno Balloon Race Inc is located in Reno, NV. The organization was established in 2012. According to its NTEE Classification (S80) the organization is classified as: Community Service Clubs, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Great Reno Balloon Race 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 11/2023, Great Reno Balloon Race Inc generated $596.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $538.5k during the year ending 11/2023. While expenses have increased by 4.9% 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
TO PROMOTE TOURISM IN RENO WITH THREE DAY BALLOON RACE EVENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GREAT RENO BALLOON RACE (GRBR) BEGAN IN 1982 AS A WAY TO KEEP VISITORS IN RENO ON THE WEEKEND BETWEEN THE STATE FAIR AND THE AIR RACES. THE VISION WAS TO CREATE SOMETHING THAT WOULD ENDURE AS A GIFT TO THE COMMUNITY - SAFE, FRIENDLY AND FREE. GRBR IS NOW THE NATION'S LARGEST FREE HOT-AIR BALLOON EVENT WITH AN AVERAGE OF 150,000 PEOPLE ATTENDING THE RACE OVER THE PERIOD OF THREE SEPTEMBER DAYS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Dondero President | OfficerTrustee | 1 | $0 |
Michael Buis Vice President | OfficerTrustee | 1 | $0 |
Pilar M Aldecoaotalora Secretary | OfficerTrustee | 1 | $0 |
Mike Klaich Treasurer | OfficerTrustee | 1 | $0 |
Ginnie Kersey Director | Trustee | 1 | $0 |
Ed Buzzetti Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $56,812 |
| All other contributions, gifts, grants, and similar amounts not included above | $190,475 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $247,287 |
| Total Program Service Revenue | $287,970 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $7,319 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $53,977 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $596,553 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $192,941 |
| Advertising and promotion | $1,000 |
| Office expenses | $10,223 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,379 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $22,234 |
| All other expenses | $22,393 |
| Total functional expenses | $538,485 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $220,894 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,450 |
| Total assets | $222,344 |
| Accounts payable and accrued expenses | $5,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $5,000 |
| Net assets without donor restrictions | $0 |
| 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 | $217,344 |
| Total liabilities and net assets/fund balances | $222,344 |