National Balloon Classic Ltd
- Assets
- $863.0k
- Revenue
- $635.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Indianola, IA
- Founding
- 07/1985
- Data as of
- 10/2023
- EIN
- 51-0137286
Organization Overview
National Balloon Classic Ltd is located in Indianola, IA. The organization was established in 1985. 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. As of 10/2023, National Balloon Classic Ltd employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Balloon Classic 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 10/2023, National Balloon Classic Ltd generated $635.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $608.6k during the year ending 10/2023. While expenses have increased by 5.9% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF HOT AIR BALLOONING THROUGH PUBLIC EDUCATION & ENTERTAINMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STAGED A NINE DAY SPORT BALLOONING CHAMPIONSHIP FOR THE EDUCATION AND ENJOYMENT OF THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Becky Needles President & Treasurer | OfficerTrustee | 2 | $0 |
Jim Stockberger Past President | OfficerTrustee | 2 | $0 |
Drew Bracken Legal Counsel | Trustee | 2 | $0 |
Nathan Fehl Vice President | OfficerTrustee | 2 | $0 |
Darrin Johnson Secretary | Trustee | 2 | $0 |
Ann Keller Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $5,604 |
| Related organizations | $0 |
| Government grants | $61,669 |
| All other contributions, gifts, grants, and similar amounts not included above | $249,728 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $317,001 |
| Total Program Service Revenue | $298,074 |
| Investment income | $106 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $878 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $18,931 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $634,990 |
| 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. | $102,253 |
| Compensation of current officers, directors, key employees. | $25,563 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $63,980 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,228 |
| Fees for services: Accounting | $5,067 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,078 |
| Advertising and promotion | $35,884 |
| Office expenses | $6,195 |
| Information technology | $11,451 |
| Royalties | $0 |
| Occupancy | $19,263 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,579 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,287 |
| Insurance | $20,465 |
| All other expenses | $119,191 |
| Total functional expenses | $608,554 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $407,668 |
| Savings and temporary cash investments | $106,157 |
| 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 | $349,158 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $862,983 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $862,983 |
| 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 | $862,983 |