Riverbend Stadium Authority Inc
- Assets
- $44.5m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Beloit, WI
- Founding
- Data as of
- 12/2022
- EIN
- 84-3281289
Organization Overview
Riverbend Stadium Authority Inc is located in Beloit, WI. According to its NTEE Classification (N31) the organization is classified as: Community Recreational Centers, 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. Riverbend Stadium Authority Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O, PART I, LINE 1TO UNDERTAKE CHARITABLE AND EDUCATIONAL ACTIVITIES AND IN PARTICULAR TO LESSEN THE BURDENS OF GOVERNMENT, PROMOTE ECONOMIC DEVELOPMENT IN DEPRESSED OR DECLINING AREAS, AVOID URBAN BLIGHT AND PROMOTE EDUCATIONAL AND CULTURAL PROGRAMS WITHIN SUCH AREAS WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (OR THE CORRESPONDING PROVISION OF ANY FUTURE UNITED STATES INTERNAL REVENUE LAW) AND SUBJECT TO AND WITHIN THE LIMITS OF SUCH PURPOSES, TO OWN AND OPERATE A MULTI-PURPOSE FACILITY THAT WILL BE AVAILABLE TO BE USED FOR, AMONG OTHER ACTIVITIES, MINOR LEAGUE BASEBALL AND COMMUNITY AND YOUTH ATHLETIC, EDUCATIONAL AND CULTURAL EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RSA PERFORMS VARIOUS PROGRAMS IN CONJUNCTION WITH LESSENING THE BURDENS OF GOVERNMENT, IN THIS CASE THE CITY OF BELOIT, BY OWNING AND OPERATING A MULTI-PURPOSE FACILITY AND MAKING IT AVAILABLE FOR USE BY VARIOUS COMMUNITY ORGANIZATIONS. IN 2022, THE STADIUM WAS USED BY APPROXIMATELY 100,000 PERSONS. THE EVENTS HELD AT THE STADIUM INCLUDED MINOR LEAGUE BASEBALL GAMES, LOCAL HIGH SCHOOL SPORTING EVENTS, LOCAL COLLEGE SPORTING EVENTS, 4TH OF JULY CELEBRATION, MOVIE NIGHTS AND NUMEROUS OTHER COMMUNITY EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Fox Chairman, President | OfficerTrustee | 1 | $0 |
Keith Rozolis Director, VP And Secretary | OfficerTrustee | 1 | $0 |
James Packard Director | Trustee | 1 | $0 |
Dennis Conerton Director, VP And Treasurer | OfficerTrustee | 1 | $0 |
Timothy Mckevett Director | Trustee | 1 | $0 |
John Gackstetter Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jones Petrie Rafinski Corp Architecture | 12/30/21 | $113,701 |
Chapman And Cutler Llp Legal | 12/30/21 | $207,606 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $150,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,559,533 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,709,533 |
| Total Program Service Revenue | $384,908 |
| 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 | $5,094,441 |
| 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 | $1,530 |
| Fees for services: Accounting | $9,341 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| 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 | $256,428 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,030,044 |
| Insurance | $53,982 |
| All other expenses | $206,431 |
| Total functional expenses | $1,557,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,712,268 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,139,058 |
| Accounts receivable, net | $10,120 |
| 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 | $44,805 |
| Net Land, buildings, and equipment | $35,554,461 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $44,460,712 |
| Accounts payable and accrued expenses | $8,428 |
| 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 | $205,725 |
| Secured mortgages and notes payable | $6,300,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,514,153 |
| 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 | $37,946,559 |
| Total liabilities and net assets/fund balances | $44,460,712 |