New Ulm Turnverein
- Assets
- $1.6m
- Revenue
- $384.7k
- Investments
- $0.0
- Employees
- 29
- Location
- New Ulm, MN
- Founding
- 06/1947
- Data as of
- 06/2020
- EIN
- 41-0742505
Organization Overview
New Ulm Turnverein, operating under the name Gambling Fund, is located in New Ulm, MN. The organization was established in 1947. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 06/2020, Gambling Fund employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gambling Fund 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 06/2020, Gambling Fund generated $384.7k 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 (8.9%) each year. All expenses for the organization totaled $282.2k during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (13.1%) 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
FOUNDED IN 1856, THE NEW ULM TURNVEREIN SUPPORTS ITS ORIGINAL MISSION TO DEVELOP "SOUND MIND AND SOUND BODY" WITHIN ITS MEMBERSHIP AND THE COMMUNITY. ITS HISTORIC BUILDING IS MAINTAINED AS A CENTER FOR CULTURAL, EDUCATIONAL, PHYSICAL, AND SOCIAL ACTIVITIES IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NON-COMPETITIVE ATHLETIC PROGRAM THROUGH GYMNASTIC TRAINING TO BUILD SOUND MIND AND BODY FOR APPROXIMATELY 200 STUDENTS 3 - 18 YEARS OF AGE IN CLASSES HELD FOUR TIMES PER WEEK NOVEMBER THRU FEBRUARY AND MARCH THRU MAY
PRESERVE AND MAINTAIN THE TURNER HALL BUILDING AS IS APPROPRIATE AND CONSISTENT WITH ITS STATUS AS A LISTING IN THE NATIONAL REGISTER OF HISTORIC PLACES. THERE WERE APPROXIMATELY 400 TO 500 MEMBER HOUSEHOLDS SUPPORTING THIS PROGRAM THRU THEIR 85 ANNUAL MEMBERSHIP FEE.
COMMUNITY MEETING HALL USED BY VARIOUS NON-PROFIT ORGANIZATIONS FREE OF CHARGE. THERE WERE APPROXIMATELY 40 ORGANIZATIONS WHO MET ABOUT 300 TIMES DURING THE YEAR.
MAINTENANCE OF A HISTORICALLY SIGNIFICANT BUILDING THAT IS USED AS A CENTER FOR CULTURAL, EDUCATIONAL, PHYSICAL AND SOCIAL ACTIVITIES IN THE COMMUNITY
NON-COMPETITIVE ATHLETIC PROGRAM THROUGH GYMNASTIC TRAINING TO BUILD SOUND MIND AND BODY FOR APPROXIMATELY 200 STUDENTS 3 - 18 YEARS OF AGE IN CLASSES HELD FOUR TIMES PER WEEK NOVEMBER THRU FEBRUARY AND MARCH THRU MAY
PRESERVE AND MAINTAIN THE TURNER HALL BUILDING AS IS APPROPRIATE AND CONSISTENT WITH ITS STATUS AS A LISTING IN THE NATIONAL REGISTER OF HISTORIC PLACES. THERE WERE APPROXIMATELY 400 TO 500 MEMBER HOUSEHOLDS SUPPORTING THIS PROGRAM THRU THEIR 85 ANNUAL MEMBERSHIP FEE.
COMMUNITY MEETING HALL USED BY VARIOUS NON-PROFIT ORGANIZATIONS FREE OF CHARGE. THERE WERE APPROXIMATELY 40 ORGANIZATIONS WHO MET ABOUT 300 TIMES DURING THE YEAR.
MAINTENANCE OF A HISTORICALLY SIGNIFICANT BUILDING THAT IS USED AS A CENTER FOR CULTURAL, EDUCATIONAL, PHYSICAL AND SOCIAL ACTIVITIES IN THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Berger President | Officer | 1 | $0 |
Sean Gremmels Vice Preside | Officer | 1 | $0 |
Dan Schwartz Treasurer | Officer | 1 | $0 |
Carol Steinhaus Secretary | Officer | 1 | $0 |
Terry Sveine Director | Trustee | 25 | $0 |
David Steinberg Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $116,972 |
| Investment income | $22 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $3,240 |
| Net Rental Income | $4,438 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $51,654 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $384,682 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $51,470 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,399 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,913 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,638 |
| Office expenses | $23,968 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,720 |
| Travel | $637 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,039 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,470 |
| Insurance | $6,239 |
| All other expenses | $0 |
| Total functional expenses | $282,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,834 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,757 |
| Accounts receivable, net | $500 |
| 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 | $3,328 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $232,306 |
| Total assets | $1,626,452 |
| Accounts payable and accrued expenses | $19,157 |
| 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 | $237,581 |
| Other liabilities | $0 |
| Total liabilities | $256,738 |
| 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 |
| Total liabilities and net assets/fund balances | $1,369,714 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Ulm Turnverein has recieved totaling $65.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $65 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Edina Country Club Edina, MN | $21,372,241 | $7,831,351 |
Wayzata Country Club Wayzata, MN | $17,523,529 | $10,501,613 |
Oak Ridge Country Club Hopkins, MN | $13,821,924 | $8,175,238 |
The Summit League Inc Sioux Falls, SD | $12,416,599 | $5,663,074 |
Minnehaha Country Club Sioux Falls, SD | $14,982,683 | $7,335,530 |
Wakonda Club Des Moines, IA | $7,236,069 | $6,317,346 |
Lake Panorama Association Panora, IA | $17,811,601 | $6,436,840 |
Rochester Golf & Country Club Rochester, MN | $18,588,891 | $5,719,819 |
Hyperion Field Club Johnston, IA | $6,332,058 | $5,789,094 |
Cedar Rapids Country Club Cedar Rapids, IA | $15,264,326 | $6,818,996 |
Westmoor Country Club Brookfield, WI | $8,894,635 | $6,849,120 |
Crow Valley Golf Club Davenport, IA | $9,047,795 | $5,702,774 |