Arenaco
- Assets
- $67.0m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Coralville, IA
- Founding
- 03/2018
- Data as of
- 06/2023
- EIN
- 81-4968896
Organization Overview
Arenaco is located in Coralville, IA. The organization was established in 2018. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arenaco 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 06/2023, Arenaco generated $4.0m in total revenue. All expenses for the organization totaled $6.2m during the year ending 06/2023.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OWN AND OPERATE ENTERTAINMENT FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF THE XTREAMARENA POWERED BY MEDIACOM, GREENSTATE FAMILY FIELDHOUSE AND THE RINK AT CORAL RIDGE. THE 5,100 FIXED SEAT XTREAM ARENA (6,600 CONCERT CAPACITY) SERVES AS HOST HOME FOR UNIVERSITY OF IOWA VOLLEYBALL AND THE IOWA HEARTLANDERS ECHL HOCKEY TENANT. THE 30,000 SQ. FT 5-COURT FIELDHOUSE ENABLES THIS COMMUNITY TO BECOME A SIGNATURE ATTRACTOR OF BOTH AMATEUR AND PROFESSIONAL SPORTING EVENTS. SINCE 1998, THE RINK AT CORAL RIDGE HAS GIVEN GUESTS OF ALL AGES THE CHANCE TO EXPERIENCE A VARIETY OF ON-ICE ACTIVITIES. OVER 100 EVENTS WERE HELD AT THE ARENA AND FIELDHOUSE DURING THE YEAR FOR COMBINED USAGE OF OVER 180 DAYS. THE ICE RINK IS OPEN DAILY FOR PUBLIC SKATING ADMISSIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josh Schamberger President | OfficerTrustee | 10 | $0 |
Theresa Kaeding Vice President | OfficerTrustee | 10 | $0 |
Laurie Goodrich Treasurer | OfficerTrustee | 0.25 | $0 |
John Weihe Secretary | OfficerTrustee | 0.25 | $0 |
Kelly Hayworth Director | Trustee | 0.25 | $0 |
Sarah Mclaughlin Director | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stafford Sports Llc Consulting | 6/29/21 | $311,696 |
Global Spectrum Management/consulting | 6/29/21 | $447,011 |
Jlg Architects Architect Services | 6/29/21 | $169,046 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $320,907 |
| All other contributions, gifts, grants, and similar amounts not included above | $667,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $987,907 |
| Total Program Service Revenue | $2,990,142 |
| Investment income | $3,380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,487 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,989,916 |
| 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 | $156,024 |
| 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 | $205,267 |
| Advertising and promotion | $1,273 |
| Office expenses | $317 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $67,801 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $330,479 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,562,293 |
| Insurance | $103,652 |
| All other expenses | $0 |
| Total functional expenses | $6,172,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $676,788 |
| Savings and temporary cash investments | $0 |
| 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 | $66,356,978 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $67,033,766 |
| 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 | $44,643,543 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $44,643,543 |
| Net assets without donor restrictions | $22,390,223 |
| 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 | $67,033,766 |