Lake Of The Woods International Arena Board Inc
- Assets
- $7.5m
- Revenue
- $77.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Baudette, MN
- Founding
- 09/2016
- Data as of
- 12/2021
- EIN
- 47-2602214
Organization Overview
Lake Of The Woods International Arena Board Inc is located in Baudette, MN. The organization was established in 2016. 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. Lake Of The Woods International Arena Board 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, Lake Of The Woods International Arena Board Inc generated $77.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $38.4k during the year ending 12/2021. 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
CONSTRUCTION AND OPERATION OF A PUBLIC ICE ARENA FOR THE USE OF THE RESIDENTS (ESPECIALLY YOUTH) OF LAKE OF THE WOODS COUNTY AND SURROUNDING AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONSTRUCTION AND OPERATION OF COMMUNITY ICE ARENA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dandi Hasbargen Bookkeeper | Officer | 2 | $0 |
Mike Schulz Chairman | Trustee | 2 | $0 |
Brent Noble Director | Trustee | 2 | $0 |
Janaya Wood Director | Trustee | 2 | $0 |
Ned Lavalla Director | Trustee | 2 | $0 |
Brett Nylander Director | Trustee | 2 | $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 | $76,625 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $76,625 |
| Total Program Service Revenue | $0 |
| Investment income | $683 |
| 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 | $77,308 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,141 |
| Office expenses | $1,200 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $26,530 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $9,499 |
| Total functional expenses | $38,370 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,326 |
| Savings and temporary cash investments | $174,848 |
| 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 | $7,300,130 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,484,304 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $500,747 |
| Total liabilities | $500,747 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $147,868 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $6,835,689 |
| Total liabilities and net assets/fund balances | $7,484,304 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lake Of The Woods International Arena Board Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Lakewood Health Center Baudette, MN PURPOSE: PROGRAM SUPPORT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Grandmas Marathon Duluth Inc Duluth, MN | $4,529,523 | $3,514,525 |
Usa Clay Target League Eagan, MN | $1,267,194 | $3,236,023 |
Southeast Iowa Regional Riverboat Commission Burlington, IA | $1,006 | $1,423,329 |
Red Wing Municipal Golf Corporation Red Wing, MN | $103,417 | $1,088,707 |
Americas Agricultural Industrial Heritage Landscape Inc Waterloo, IA | $639,960 | $847,872 |
Ahrens Park Foundation Grinnell, IA | $5,714,347 | $745,032 |
Quad Cities Atv Club Inc Virginia, MN | $31,684 | $814,248 |
Fargo Airsho Inc Fargo, ND | $345,922 | $887,899 |
Grand Forks Youth Hockey Association Grand Forks, ND | $611,730 | $993,625 |
Sanford Center Sioux City, IA | $728,408 | $675,442 |
Motion Volleyball Program Sussex, WI | $0 | $418,328 |
Heritage Hill Corporation Green Bay, WI | $165,713 | $495,204 |