The Rec Center Ltd
- Assets
- $1.4m
- Revenue
- $585.9k
- Investments
- $0.0
- Employees
- 32
- Location
- Mount Pleasant, IA
- Founding
- 11/1991
- Data as of
- 06/2022
- EIN
- 42-1373886
Organization Overview
The Rec Center Ltd is located in Mount Pleasant, IA. The organization was established in 1991. According to its NTEE Classification (N31) the organization is classified as: Community Recreational Centers, under the broad grouping of Recreation & Sports and related organizations. As of 06/2022, Rec Center Ltd employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rec Center Ltd 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 06/2022, Rec Center Ltd generated $585.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $609.2k during the year ending 06/2022. While expenses have increased by 2.9% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
IT IS THE MISSION OF THE REC CENTER TO PROMOTE QUALITY LIVING AND WELL-BEING FOR PEOPLE OF ALL AGES THROUGH FITNESS, RECREATION AND WELLNESS OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING A RECREATIONAL FACILITY FOR MOUNT PLEASANT AND SURROUNDING AREA. THE CITY OF MOUNT PLEASANT IS USING THE FACILITY FOR MANY OF ITS RECREATIONAL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Duffie Executive Dir. | Officer | 40 | $76,226 |
David George President | OfficerTrustee | 1 | $0 |
Amanda Rundquist Vice Pres/treas | OfficerTrustee | 1 | $0 |
Linda Wilkerson Director | OfficerTrustee | 1 | $0 |
Marshall Cotton Director | Trustee | 1 | $0 |
Cindy Smith Director | Trustee | 1 | $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 | $94,307 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $94,307 |
| Total Program Service Revenue | $480,725 |
| Investment income | $2,630 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,278 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $585,940 |
| 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. | $76,227 |
| Compensation of current officers, directors, key employees. | $60,981 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $170,449 |
| Pension plan accruals and contributions | $5,072 |
| Other employee benefits | $12,742 |
| Payroll taxes | $19,068 |
| Fees for services: Management | $8,110 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,313 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,024 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,750 |
| Office expenses | $18,049 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $109,593 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,363 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,651 |
| Insurance | $17,181 |
| All other expenses | $9,494 |
| Total functional expenses | $609,195 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $203 |
| Savings and temporary cash investments | $129,139 |
| 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 | $3,100 |
| Net Land, buildings, and equipment | $1,108,437 |
| Investments—publicly traded securities | $116,189 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,357,068 |
| Accounts payable and accrued expenses | $2,301 |
| Grants payable | $0 |
| Deferred revenue | $37,342 |
| 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 | $23,384 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $63,027 |
| Net assets without donor restrictions | $1,223,452 |
| Net assets with donor restrictions | $70,589 |
| 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 | $1,357,068 |
Endowment Analysis
| Beg. Balance | $111,759 |
| Earnings | $8,808 |
| Admin Expense | $1,024 |
| Ending Balance | $119,543 |
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