The Loppet Foundation Inc
- Assets
- $5.0m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 11/2003
- Data as of
- 09/2021
- EIN
- 41-1753882
Organization Overview
The Loppet Foundation Inc is located in Minneapolis, MN. The organization was established in 2003. 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. Loppet Foundation 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 09/2021, Loppet Foundation Inc generated $3.2m 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 (4.5%) each year. All expenses for the organization totaled $2.6m during the year ending 09/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE LOPPET FOUNDATION CREATES A SHARED PASSION FOR YEAR-ROUND OUTDOOR ADVENTURE IN THE MINNEAPOLIS AREA, FOCUSING ON UNDERSERVED YOUTH AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LOPPET FOUNDATION'S YEAR-ROUND EVENTS BUILD COMMUNITY AROUND SHAREDPASSION FOR OUTDOOR ACTIVITY, AND HIGHLIGHT MINNEAPOLIS'S ABUNDANTNATURAL SPACES.FY21 FACTS:- MORE THAN 10,000 PEOPLE PARTICIPATED IN A LOPPET EVENT.- MORE THAN 1,000 VOLUNTEERS GAVE THEIR TIME AND TALENTS TO HELPMAKE LOPPET EVENTS POSSIBLE.LOPPET SPORT:LOPPET SPORT PROVIDES YEAR-ROUND TRAINING OPPORTUNITIES FOR ATHLETES AGES 7 TO 107 TO REACH THEIR FULL POTENTIAL.FY21 FACTS:- OVER 700 SKIERS HONED THEIR SKILLS YEAR-ROUND THANKS TO TOP-NOTCH CERTIFIED COACHING INSTRUCTION IN LOPPET NORDIC RACING- MORE THAN 1,500 KIDS MOUNTAIN-BIKED, RAN, ROLLER SKIED, PADDLEDAND RACED IN THE TRAIL KIDS PROGRAM, DEVELOPING GRIT AND RESILIENCETHROUGH OUTDOOR ADVENTURE.- STARTED LOPPET CYCLE WORKS (LCW) SERVED 380 YOUTH AND ADULTS IN BEGINNER TO ADVANCED MOUNTAIN BIKINGLOPPET RUNNING 365 (LR365) SERVED OVER 150 YOUTH AND ADULTS IN RUNNING PROGRAMSTRAILS AND RECREATION:THE LOPPET FOUNDATION'S TRAILS AND RECREATION TEAM PARTNERS WITH THEMINNEAPOLIS PARK AND RECREATION BOARD TO CREATE, IMPROVE, AND OPERATEWORLD-CLASS FACILITIES FOR OUTDOOR RECREATION.FY21 FACTS:- MORE THAN 10,000 SEASON SKI PASSES WERE SOLD--THE HIGHEST NUMBER EVER,FOR THE FIFTH YEAR IN A ROW AND SINCE TAKING OVER SNOWMAKING FROM MPRB
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Van Horn President | OfficerTrustee | 1 | $0 |
Tom Trackman Treasurer | OfficerTrustee | 1 | $0 |
Ray Aponte Interim Executive Director | Officer | 36 | $0 |
Claire Wilson Executive Director | Officer | 36 | $0 |
Penelope Pate Greene Board Member | Trustee | 1 | $0 |
Bill Mckinney Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $765,143 |
| Noncash contributions included in lines 1a–1f | $169,694 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $800,143 |
| Total Program Service Revenue | $2,390,599 |
| Investment income | $28,369 |
| 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 | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,219,111 |
| 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. | $101,190 |
| Compensation of current officers, directors, key employees. | $11,131 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,286,733 |
| Pension plan accruals and contributions | $15,461 |
| Other employee benefits | $18,011 |
| Payroll taxes | $104,529 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $191,729 |
| Advertising and promotion | $2,890 |
| Office expenses | $75,580 |
| Information technology | $34,121 |
| Royalties | $0 |
| Occupancy | $29,100 |
| Travel | $35,385 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $90,154 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $82,911 |
| Insurance | $104,966 |
| All other expenses | $76,896 |
| Total functional expenses | $2,649,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $202,147 |
| Savings and temporary cash investments | $1,350,122 |
| Pledges and grants receivable | $201,029 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,759,400 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,886 |
| Net Land, buildings, and equipment | $445,381 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,982,965 |
| Accounts payable and accrued expenses | $193,987 |
| Grants payable | $0 |
| Deferred revenue | $48,404 |
| 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 | $249,170 |
| Unsecured mortgages and notes payable | $1,000,000 |
| Other liabilities | $0 |
| Total liabilities | $1,491,561 |
| Net assets without donor restrictions | $3,311,751 |
| Net assets with donor restrictions | $179,653 |
| 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 | $4,982,965 |
Grants Recieved
Over the last fiscal year, we have identified 29 grants that The Loppet Foundation Inc has recieved totaling $366,799.
| Awarding Organization | Amount |
|---|---|
Share Winter Foundation Providence, RI PURPOSE: GENERAL SUPPORT | $52,500 |
Minneapolis Foundation Minneapolis, MN PURPOSE: SPORTS & RECREATION | $47,250 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $37,310 |
George Family Foundation Minneapolis, MN PURPOSE: YOUTH ADVENTURES PROGRAMS FOR YOUTH IN NORTH MINNEAPOLIS | $25,000 |
Dicks Sporting Goods Foundation Coraopolis, PA PURPOSE: COMMUNITY MARKETING GRANTS | $25,000 |
George Family Foundation Minneapolis, MN PURPOSE: CORE MISSION SUPPORT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Loppet Foundation Inc Minneapolis, MN | $4,982,965 | $3,219,111 |
American Birkebeiner Ski Foundation Inc Hayward, WI | $7,179,042 | $2,764,424 |
United Heroes League Hastings, MN | $3,084,310 | $3,081,953 |
Eagan Hockey Association Incorporated Eagan, MN | $236,242 | $1,165,383 |
Moorhead Youth Hockey Assn Moorhead, MN | $7,603,734 | $2,426,277 |
Fargo Hockey Association Fargo, ND | $1,287,012 | $1,819,619 |
Milwaukee Jr Admirals Inc Milwaukee, WI | $378,879 | $1,815,838 |
Wisconsin Amateur Hockey Association Inc Mequon, WI | $1,631,368 | $1,828,064 |
Edina Hockey Association Edina, MN | $768,078 | $1,616,429 |
District 284 Youth Hockey Association Golden Valley, MN | $1,155,590 | $1,715,832 |
Dickinson Youth Activities Inc Dickinson, ND | $2,700,930 | $1,609,260 |
Woodbury Area Hockey Club Woodbury, MN | $1,085,854 | $1,679,280 |