Arenaco
- Assets
- $45.9m
- Revenue
- $554.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Coralville, IA
- Founding
- 03/2018
- Data as of
- 06/2020
- 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 06/2020, Arenaco generated $554.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 74.5% each year . All expenses for the organization totaled $750.4k during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT AND OPERATE FOR THE BENEFIT OF THE CITY OF CORALVILLE, IOWA; TO LESSEN THE BURDENS IMPOSED UPON THE GOVERNMENT OF THE CITY OF CORALVILLE THROUGH THE CORPORATION'S PROGRAMS AND ACTIVITIES; TO PROMOTE ECONOMIC DEVELOPMENT AND GROWTH WITHIN THE CITY OF CORALVILLE; AND TO PROMOTE THE SOCIAL WELFARE OF THE RESIDENTS OF THE CITY OF CORALVILLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT THE CITY OF CORALVILLE, IOWA WITH A PREMIER EVENT CENTER
SUPPORT THE CITY OF CORALVILLE, IOWA WITH A PREMIER EVENT CENTER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Hayworth Director | Trustee | $0 | |
Terry Kaeding Director | Trustee | $0 | |
John Lundell Director | Trustee | $0 | |
Sarah Mclaughlin Director | Trustee | $0 | |
Joshua Schamberger Director | Trustee | $0 | |
John Weihe Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $554,050 |
| Investment income | $0 |
| 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 | $554,050 |
| Statement of Expenses | |
|---|---|
| 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 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 | $2,509 |
| Office expenses | $0 |
| 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 | $305,057 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,481 |
| All other expenses | $0 |
| Total functional expenses | $750,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,027,766 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $45,872,582 |
| 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 | $22,018,011 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $22,018,011 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $23,854,571 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Arenaco has recieved totaling $130,000.
| Awarding Organization | Amount |
|---|---|
Watts Family Foundation Coralville, IA PURPOSE: FOR UNRESTRICTED USE BY RECIPIENT | $100,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $25,000 |
Midwestone Bank Foundation Iowa City, IA PURPOSE: GENERAL OPERATING FUND | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dubuque Racing Association Ltd Dubuque, IA | $61,524,340 | $44,438,133 |
Young Mens Christian Association Of Greater Waukesha County Inc New Berlin, WI | $45,522,336 | $21,339,242 |
Edward Health And Fitness Center Naperville, IL | $10,693,945 | $6,619,207 |
Washington Area Community Center Inc Washington, IL | $16,748,598 | $3,867,978 |
Detroit Mountain Recreation Area Inc Detroit Lakes, MN | $3,604,000 | $2,203,454 |
New Richmond Area Centre Ltd New Richmond, WI | $2,632,645 | $1,659,233 |
Brown County Ice Management Inc De Pere, WI | $551,946 | $1,678,354 |
Heat Athletics Inc Franklin, WI | $0 | $70,243 |
Hayward Civic Club Inc Hayward, WI | $3,229,551 | $1,328,789 |
Rabble Mill Lincoln, NE | $1,017,790 | $1,541,481 |
South Suburban Special Recreation Association Tinley Park, IL | $2,126,834 | $1,231,235 |
Madison Ice Inc Madison, WI | $3,210,061 | $1,229,246 |