Orono Ice Arena Inc
- Assets
- $3.5m
- Revenue
- $709.7k
- Investments
- $0.0
- Employees
- 10
- Location
- Long Lake, MN
- Founding
- 09/1996
- Data as of
- 07/2024
- EIN
- 41-1845694
Organization Overview
Orono Ice Arena Inc is located in Long Lake, MN. The organization was established in 1996. According to its NTEE Classification (N30) the organization is classified as: Physical Fitness & Community Recreational Facilities, under the broad grouping of Recreation & Sports and related organizations. As of 07/2024, Orono Ice Arena Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Orono Ice Arena 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 07/2024, Orono Ice Arena Inc generated $709.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $733.4k during the year ending 07/2024. While expenses have increased by 5.9% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND FOSTER ICE SKATING AND ORGANIZED HOCKEY FOR THE LOCAL COMMUNITY, THE ORONO YOUTH HOCKEY ASSOCIATION AND ORONO HIGH SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FACILITIES AND ICE TIME FOR COMMUNITY YOUTH IN ORDER TO FOSTER THE GROWTH AND INTEREST IN YOUTH HOCKEY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christian Lundsgaard President | OfficerTrustee | 10 | $0 |
Ryan Meier Treasurer | OfficerTrustee | 10 | $0 |
Laura Wallander Board Member | Trustee | 10 | $0 |
Adam Nafstad Secretary | OfficerTrustee | 10 | $0 |
Denny Walsh Board Member | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,100 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,100 |
| Total Program Service Revenue | $652,243 |
| Investment income | $17,808 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,500 |
| 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 | $8,734 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $709,719 |
| 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 | $188,992 |
| Pension plan accruals and contributions | $7,435 |
| Other employee benefits | $0 |
| Payroll taxes | $14,982 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,260 |
| 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 | $7,949 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $152,124 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,605 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $198,760 |
| Insurance | $35,285 |
| All other expenses | $1,031 |
| Total functional expenses | $733,391 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $315,071 |
| Savings and temporary cash investments | $308,976 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38,241 |
| 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 | $2,806,216 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,867 |
| Total assets | $3,473,371 |
| Accounts payable and accrued expenses | $24,914 |
| Grants payable | $0 |
| Deferred revenue | $50,738 |
| 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 | $0 |
| Other liabilities | $469,109 |
| Total liabilities | $544,761 |
| Net assets without donor restrictions | $2,928,610 |
| 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 | $3,473,371 |