Fargo Hockey Association
- Assets
- $4.2m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 25
- Location
- Fargo, ND
- Founding
- 09/1988
- Data as of
- 05/2023
- EIN
- 36-3548649
Organization Overview
Fargo Hockey Association is located in Fargo, ND. The organization was established in 1988. 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 05/2023, Fargo Hockey Association employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fargo Hockey Association 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 05/2023, Fargo Hockey Association generated $1.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $1.9m during the year ending 05/2023. While expenses have increased by 4.0% 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
SUPPORT AND SPONSOR YOUTH HOCKEY TEAMS AND OPERATE A YOUTH ICE ARENA IN FARGO, NORTH DAKOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SPONSORS YOUTH HOCKEY TEAMS AND OPERATES A YOUTH ICE ARENA IN FARGO, NORTH DAKOTA. THIS YEAR THERE WERE 792 REGISTERED PLAYERS AND A TOTAL OF 71 TEAMS THE ORGANIZATION ENTERED INTO A SPONSORSHIP AGREEMENT ON 10/4/2022 BY AND BETWEEN THE PARK DISTRICT OF THE CITY OF FARGO THE PARK DISTRICT PLANS TO BUILD, OWN, OPERATE AND MAINTAIN A WELLNESS SPORTS COMPLEX CURRENTLY NAMED FARGO SPORTS COMPLEX. AS PART OF THE AGREEMENT THE ORGANIZATION HAS AGREED TO PAY THE PARK DISTRICT OF THE CITY OF FARGO $3 MILLION DOLLARS OVER 10 YEARS TO PURCHASE DONOR RECOGNITION RIGHTS TO THE SPORTS COMPLEX. IN ADDITION, THE ORGANIZATION HAS COMMITTED TO ENTERING A 25-YEAR LEASE WITH THE PARK DISTRICT FOR THE RENTAL OF ONE SHEET OF ICE AT THE SPORTS COMPLEX. THE LEASE WILL COMMENCE UPON COMPLETION OF THE ICE AT THE SPORTS COMPLEX. A RELATED LIABILITY OF $3 MILLION HAS BEEN INCLUDED ON THE BALANCE SHEET FOR THE ORGANIZATION'S SPONSORSHIP COMMITTMENT. A LEASE LIABILITY WILL BE RECORDED ON THE BALANCE SHEET UPON COMPLETION OF THE ICE AT THE SPORTS COMPLEX.
THE ORGANIZATION HOSTED MULTIPLE REGIONAL TOURNAMENTS AND INTERNATIONAL/NATIONAL YOUTH HOCKEY TOURNAMENTS. THERE WERE 372 TEAMS PARTICIPATING IN THE REGIONAL AND INTERNATIONAL/NATIONAL TOURNAMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Thompson President | OfficerTrustee | 5 | $0 |
Maulik Dabhi Vice President | OfficerTrustee | 5 | $0 |
Blake Nelson Treasurer | OfficerTrustee | 5 | $0 |
Dan Ness Secretary | OfficerTrustee | 5 | $0 |
Jared Nyquist Member At Large | Trustee | 5 | $0 |
Richard Hell Member At Large | Trustee | 5 | $5,795 |
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 | $84,174 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $84,174 |
| Total Program Service Revenue | $1,346,776 |
| Investment income | $3,287 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $112,768 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $205 |
| Net Income from Gaming Activities | $206,979 |
| Net Income from Sales of Inventory | $58,836 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,813,025 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,245 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $117,490 |
| Compensation of current officers, directors, key employees. | $111,240 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $322,932 |
| Pension plan accruals and contributions | $5,774 |
| Other employee benefits | $5,120 |
| Payroll taxes | $35,263 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,125 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $101,359 |
| Advertising and promotion | $1,886 |
| Office expenses | $77,219 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $115,304 |
| Travel | $19,365 |
| 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 | $30,212 |
| Insurance | $9,665 |
| All other expenses | $125,690 |
| Total functional expenses | $1,914,151 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $160 |
| Savings and temporary cash investments | $812,215 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,631 |
| 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 | $35,325 |
| Net Land, buildings, and equipment | $280,127 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,000,000 |
| Other assets | $15,000 |
| Total assets | $4,151,458 |
| Accounts payable and accrued expenses | $4,698 |
| 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 | $3,000,000 |
| Total liabilities | $3,004,698 |
| 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 | $1,146,760 |
| Total liabilities and net assets/fund balances | $4,151,458 |