Lake State Alpine Racing
- Assets
- $38.7k
- Revenue
- $89.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Minnetonka, MN
- Founding
- Data as of
- 06/2022
- EIN
- 84-2476211
Organization Overview
Lake State Alpine Racing is located in Minnetonka, MN. According to its NTEE Classification (N68) the organization is classified as: Winter Sports, 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 State Alpine Racing 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 06/2022, Lake State Alpine Racing generated $89.1k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 17.9% each year . All expenses for the organization totaled $73.5k during the year ending 06/2022. While expenses have increased by 13.8% per year over the past 2 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ALPINE RACE INSTRUCTION TO YOUTH
Describe the Organization's Program Activity:
Part 3 - Line 4a
2021-2022 WAS ALPINE RACING'S THIRD YEAR OF OPERATION. WE ENROLLED 165 SKI RACERS IN OUR PROGRAM; PRIMARILY BETWEEN THE AGES OF 7 TO 15 YEARS OLD. OUR TEAM IS A MEMBER OF THE MIDWEST SNOWPORTS DEVELOPMENT LEAGUE (MSDL) IN WHICH WE COMPETED IN 8 ALPINE SKI RACE EVENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Stageberg President | OfficerTrustee | 20 | $3,500 |
Shawn Meyer Secretary | Trustee | 1 | $0 |
Erin Thies Director | Trustee | 1 | $0 |
Mike Friedrichs Director | Trustee | 1 | $0 |
Sven Kohmyer Director | Trustee | 1 | $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 | $6,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,000 |
| Total Program Service Revenue | $83,040 |
| Investment income | $14 |
| 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 | $89,054 |
| 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. | $3,500 |
| Compensation of current officers, directors, key employees. | $1,500 |
| 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 | $1,272 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $52,585 |
| Advertising and promotion | $58 |
| Office expenses | $2,280 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $600 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $807 |
| Insurance | $4,524 |
| All other expenses | $1,470 |
| Total functional expenses | $73,488 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,882 |
| Savings and temporary cash investments | $24,535 |
| 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 | $7,261 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $38,678 |
| 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 | $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 |
| Retained earnings, endowment, accumulated income, or other funds | $38,678 |
| Total liabilities and net assets/fund balances | $38,678 |
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