Minnesota Boat Club
- Assets
- $833.0k
- Revenue
- $334.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Mendota Heights, MN
- Founding
- 06/1991
- Data as of
- 12/2022
- EIN
- 41-1696273
Organization Overview
Minnesota Boat Club is located in Mendota Heights, MN. The organization was established in 1991. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, 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. Minnesota Boat Club 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 12/2022, Minnesota Boat Club generated $334.7k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 29.1% each year . All expenses for the organization totaled $102.9k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE FITNESS THROUGH THE SPORT OF ROWING, ASSIST YOUTH AND ADULTS BY PROVIDING EQUIPMENT, TRAINING AND OPPORTUNITIES TO COMPETE AT LOCAL, REGIONAL, NATIONAL AND INTERNATIONAL EVENTS; DUES AND FUNDRAISING TO SUPPORT ACTIVITIES
Describe the Organization's Program Activity:
ADULT RECREATIONAL AND OPEN ROWING PROGRAMS - PARTICIPANTS RECEIVE ACCESS TO FACILITIES AND EQUIPMENT, SUPERVISED TRAINING ON A LIMITED BASIS TO IMPROVE TECHNIQUE AND FITNESS LEVEL. EACH INDIVIDUAL DETERMINES THEIR LEVEL OF PARTICIPATION AND GOALS. THEY CAN ADVANCE TO THE COMPETITIVE PROGRAM AND/OR PARTICIPATE IN LESS STRUCTURED ACTIVITIES.ADULTS AGE 21 AND OLDER. APPROXIMATELY 70% OF OUTLAYS.
HIGH SCHOOL AND COLLEGIATE (AGES 14 TO 22)COMPETITIVE ROWING PROGRAMS - PARTICIPANTS RECEIVE ACCESS TO FACILITIES, EQUIPMENT AND SUPERVISED TRAINING AND OPPORTUNITIES TO COMPETE. APPROXIMATELY OF 23% OUTLAYS.
ADULT ROWING CLASSES - INTRODUCTION TO THE SPORT AND PROVIDE BASIC INSTRUCTIONS IN ROWING TECHNIQUE OVER A SERIES OF CLASSES. GRADUATES CAN ADVANCE TO OTHER PROGRAMS.APPROXIMATELY 7% OF OUTLAYS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlene Mcevoy Director | Trustee | 2 | $0 |
Graham Mink Director | Trustee | 2 | $0 |
Renee Quam Director | Trustee | 2 | $0 |
Daniel Bakke Director | Trustee | 2 | $0 |
Joey O'neill Director | Trustee | 2 | $0 |
Susan Tietjen Secretary | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $26,533 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $192,315 |
| Noncash contributions included in lines 1a–1f | $8,708 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $218,848 |
| Total Program Service Revenue | $91,253 |
| Investment income | $65 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$30,834 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $278 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $334,675 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,402 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,300 |
| 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 | $7,971 |
| Insurance | $7,295 |
| All other expenses | $3,255 |
| Total functional expenses | $102,872 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $202,368 |
| Savings and temporary cash investments | $120,184 |
| 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 | $8,088 |
| Net Land, buildings, and equipment | $502,381 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $833,021 |
| 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 | $49,027 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $49,027 |
| 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 | $363,094 |
| Retained earnings, endowment, accumulated income, or other funds | $420,900 |
| Total liabilities and net assets/fund balances | $833,021 |