Newark Sport And Event Commission
- Assets
- $1.2m
- Revenue
- $783.3k
- Investments
- $0.0
- Employees
- 45
- Location
- Newark, OH
- Founding
- 07/2007
- Data as of
- 06/2022
- EIN
- 20-3793039
Organization Overview
Newark Sport And Event Commission, operating under the name Lou & Gib Reese Ice Arena, is located in Newark, OH. The organization was established in 2007. According to its NTEE Classification (A90) the organization is classified as: Arts Services, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Lou & Gib Reese Ice Arena employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lou & Gib Reese Ice Arena 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 06/2022, Lou & Gib Reese Ice Arena generated $783.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $638.5k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 6 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF ICE ARENA TO PROVIDE LOCAL YOUTH & CITIZENS OPPORTUNITIES TO PARTICIPATE IN ICE ACTIVITIES AND OTHER COMMUNITY PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF ICE ARENA TO PROVIDE LOCAL YOUTH AND CITIZENS OPPORTUNITIES TO PARTICIPATE IN ICE ACTIVITIES AND OTHER COMMUNITY PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Hoffmann Chair | OfficerTrustee | 5 | $0 |
Robert O'neill Secretary | OfficerTrustee | 2 | $0 |
John Wallace Vice-Chair | OfficerTrustee | 2 | $0 |
Kim Blaney Board Member | Trustee | 1 | $0 |
Ed Bohren Board Member | Trustee | 1 | $0 |
Jim Patin Board Member | Trustee | 1 | $6,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $77,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $122,777 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $200,577 |
| Total Program Service Revenue | $554,537 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $27,869 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $783,333 |
| 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. | $73,729 |
| Compensation of current officers, directors, key employees. | $44,641 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $158,610 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $21,515 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,884 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,521 |
| Advertising and promotion | $3,126 |
| Office expenses | $22,305 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $111,848 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,326 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $78,881 |
| Insurance | $28,264 |
| All other expenses | $218 |
| Total functional expenses | $638,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,996 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $38,646 |
| 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 | $17,428 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,013,210 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,914 |
| Total assets | $1,188,194 |
| Accounts payable and accrued expenses | $19,819 |
| Grants payable | $0 |
| Deferred revenue | $2,388 |
| 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 | $118,318 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $140,525 |
| Net assets without donor restrictions | $1,000,405 |
| Net assets with donor restrictions | $47,264 |
| 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 | $1,188,194 |