Valley Crest Riders Inc
- Assets
- $189.6k
- Revenue
- $76.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Rushford, MN
- Founding
- 09/2008
- Data as of
- 12/2020
- EIN
- 41-1657792
Organization Overview
Valley Crest Riders Inc is located in Rushford, MN. The organization was established in 2008. According to its NTEE Classification (N68) the organization is classified as: Winter Sports, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Crest Riders 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 12/2020, Valley Crest Riders Inc generated $76.9k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $92.4k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PUBLIC TRAIL MAINTENANCE. TO MAINTAIN, BUILD, 65 MILES OF SNOWMOBILE TRAILS FOR THE OUTDOOR ENJOYMENT OF INDIVIDUALS AND FOR THE ECONOMIC BENEFIT OF THE COMMUNITY.
Describe the Organization's Program Activity:
MAINTAIN, BUILD, 65 MILES OF SNOWMOBILE TRAILS FOR THE OUTDOOR ENJOYMENT OF INDIVIDUALS AND FOR THE ECONOMIC BENEFIT OF THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Quarve CFO | Trustee | 10 | $0 |
Bill Moe President | Trustee | 2 | $0 |
Wayne Brevig Vice President | Trustee | 2 | $0 |
Dan Sorum Secretary | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,736 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,736 |
| Total Program Service Revenue | $0 |
| 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 | $56,129 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $76,865 |
| 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 | $490 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,068 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,925 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,603 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,172 |
| Insurance | $3,788 |
| All other expenses | $0 |
| Total functional expenses | $92,360 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,581 |
| 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 | $165,026 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $189,607 |
| 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 | $85,420 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $821 |
| Total liabilities | $86,241 |
| Net assets without donor restrictions | $103,366 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $189,607 |
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