Hermantown Amateur Hockey Association Inc
- Assets
- $487.9k
- Revenue
- $429.9k
- Investments
- $0.0
- Employees
- 9
- Location
- Hermantown, MN
- Founding
- 04/1971
- Data as of
- 08/2021
- EIN
- 23-7083537
Organization Overview
Hermantown Amateur Hockey Association Inc is located in Hermantown, MN. The organization was established in 1971. According to its NTEE Classification (N68) the organization is classified as: Winter Sports, under the broad grouping of Recreation & Sports and related organizations. As of 08/2021, Hermantown Amateur Hockey Association Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hermantown Amateur Hockey Association 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 08/2021, Hermantown Amateur Hockey Association Inc generated $429.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $337.2k during the year ending 08/2021. While expenses have increased by 10.9% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE YOUTH HOCKEY PARTICIPATION, EDUCATION, AND COMPETITIONS.
Describe the Organization's Program Activity:
ATHLETIC AND COMMUNITY WELFARE PURPOSES, IN PARTICULAR TO ENCOURAGE PARTICIPATION BY AREA CHILDREN IN THE SPORT OF HOCKEY. YOUTH HOCKEY PROGRAMMING, APPROXIMATELY 370 PLAYERS PARTICIPATED IN THE SEASON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Schmidt Gambling Manager | Officer | 20 | $20,810 |
Marty Olson President | OfficerTrustee | 5 | $0 |
Tim Rust Vice President | OfficerTrustee | 5 | $0 |
Victoria Sundell Secretary | OfficerTrustee | 5 | $0 |
Dan Berg Treasurer | OfficerTrustee | 5 | $0 |
Eric Albrecht Board Member | Trustee | 5 | $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 | $27,951 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,951 |
| Total Program Service Revenue | $377,967 |
| Investment income | $447 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$3,012 |
| Net Income from Gaming Activities | $27,303 |
| Net Income from Sales of Inventory | -$12,971 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $429,869 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $300 |
| Grants and other assistance to domestic individuals. | $1,000 |
| 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 | $959 |
| 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 | $8,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,162 |
| Advertising and promotion | $0 |
| Office expenses | $44 |
| Information technology | $2,210 |
| Royalties | $0 |
| Occupancy | $8,508 |
| Travel | $0 |
| 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 | $15,189 |
| Insurance | $2,936 |
| All other expenses | $32,791 |
| Total functional expenses | $337,219 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $190,838 |
| Savings and temporary cash investments | $145,998 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,925 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $41,420 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $107,763 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $487,944 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $430,784 |
| Net assets with donor restrictions | $57,160 |
| 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 | $487,944 |
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