Red Wing Municipal Golf Corporation
- Assets
- $502.7k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Red Wing, MN
- Founding
- 05/2014
- Data as of
- 12/2023
- EIN
- 45-3245852
Organization Overview
Red Wing Municipal Golf Corporation is located in Red Wing, MN. The organization was established in 2014. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., 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. Red Wing Municipal Golf Corporation 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 12/2023, Red Wing Municipal Golf Corporation generated $1.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $994.6k during the year ending 12/2023. While expenses have increased by 2.0% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RED WING MUNICIPAL GOLF CORPORATION (RWMGC) OPERATES AND MANAGES MISSISSIPPI NATIONAL GOLF LINKS, A MUNICIPAL GOLF COURSE OWNED BY THE CITY OF RED WING.
THE CITY OF RED WING, MN HAS GRANTED THE CORPORATION A LICENSE TO OPERATE THE COURSE ON THE CITY'S BEHALF.
THE EMPLOYEES OF THE CORPORATION ALSO HAVE DEVELOPED YOUTH GOLF PROGRAM ACTIVITIES FOR THE BENEFIT OF THE YOUTH OF OUR COMMUNITY
THE COURSE HAS ALSO BEEN OPENED FOR USE BY THE ENVIRONMENTAL LEARNING CENTER, A LOCAL NO-PROFIT ENVIRONMENTAL EDUCATION ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kay Trulen Secretary | 2 | $0 | |
Troy Daniels Vice President | 2 | $0 | |
Gary Fridell Board Member | 1 | $0 | |
Burt Everett Board Member | 1 | $0 | |
Jane Gisslen Board Member | 1 | $0 | |
Jan Pinsonneault Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,067 |
| Interest on Savings | $15,743 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $1,144,941 |
| Other Income | $0 |
| Total Revenue | $1,168,751 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $394,396 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $56,737 |
| Depreciation | $22,574 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $506,015 |
| Total operating and administrative expenses | $994,562 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $994,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $232,114 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $109 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $87,308 |
| Other assets | $183,151 |
| Total assets | $502,682 |
| Accounts payable and accrued expenses | $20,748 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $60,620 |
| Other liabilities | $169,304 |
| Total liabilities | $250,672 |