Central Square Inc
- Assets
- $2.7m
- Revenue
- $513.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Glenwood, MN
- Founding
- 02/1995
- Data as of
- 12/2021
- EIN
- 41-1795911
Organization Overview
Central Square Inc is located in Glenwood, MN. The organization was established in 1995. According to its NTEE Classification (N31) the organization is classified as: Community Recreational Centers, 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. Central Square 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 12/2021, Central Square Inc generated $513.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 21.7% each year . All expenses for the organization totaled $492.0k during the year ending 12/2021. While expenses have increased by 20.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING THE ARTS IN WEST CENTRAL MINNESOTA
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPECIAL EVENTS AT THE FACILITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barb Kraember Secretary | OfficerTrustee | 5 | $0 |
Vickie Sawdon President | OfficerTrustee | 5 | $0 |
Ted Halvorson Treasurer | Trustee | 5 | $0 |
Gary Hammer Bldg Comm | Trustee | 2 | $0 |
Larry Zavadil Bldg Chair | Trustee | 2 | $0 |
Cheryl Larson Exec Director | Trustee | 30 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $206,897 |
| All other contributions, gifts, grants, and similar amounts not included above | $167,072 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $373,969 |
| Total Program Service Revenue | $19,498 |
| Investment income | $113 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $119,735 |
| 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 | $513,315 |
| 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. | $50,277 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $93,855 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,187 |
| Payroll taxes | $11,242 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,798 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,938 |
| Office expenses | $7,781 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $197,424 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $25,346 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,449 |
| Insurance | $2,696 |
| All other expenses | $0 |
| Total functional expenses | $492,041 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,139 |
| Savings and temporary cash investments | $215,183 |
| 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 | $1,620,248 |
| Investments—publicly traded securities | $870,212 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,707,782 |
| Accounts payable and accrued expenses | $5,786 |
| 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 | $986,937 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $992,723 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $977,140 |
| Retained earnings, endowment, accumulated income, or other funds | $736,919 |
| Total liabilities and net assets/fund balances | $2,707,782 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Central Square Inc has recieved totaling $18,800.
| Awarding Organization | Amount |
|---|---|
Lake Region Arts Council Inc Fergus Falls, MN PURPOSE: Present a series of diverse performances to our community as we return to live programming after two year absence from live performances due to COVID | $18,800 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sioux Falls Sports Authority Sioux Falls, SD | $3,414,358 | $6,543,393 |
Boys And Girls Club Of Kenosha Inc Kenosha, WI | $3,512,810 | $5,648,462 |
Greater Altoona Community Service Campus Altoona, IA | $3,780,290 | $4,140,492 |
Kenosha Young Mens Christian Association Inc Kenosha, WI | $10,270,327 | $3,013,673 |
Duluth Heritage Sports Center Duluth, MN | $14,309,709 | $1,413,182 |
Algona Family Young Mens Christian Association Algona, IA | $4,936,950 | $1,554,463 |
Boys And Girls Club Of Cedar Rapids Cedar Rapids, IA | $1,886,473 | $1,761,264 |
Appleton Ice Inc Appleton, WI | $3,343,881 | $1,343,806 |
Horse Race North Dakota Fargo, ND | $901,030 | $1,670,619 |
Pembina Gorge Foundation Walhalla, ND | $2,338,499 | $899,090 |
Cedar River Recreation & Fine Arts Osage, IA | $11,312,330 | $892,127 |
Saint Thomas Academy Ice Arena Mendota Heights, MN | $2,205,328 | $758,191 |