Minnesota Heat Events Inc
- Assets
- $198.4k
- Revenue
- $751.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Maple Grove, MN
- Founding
- Data as of
- 12/2022
- EIN
- 86-1182091
Organization Overview
Minnesota Heat Events Inc is located in Maple Grove, MN. According to its NTEE Classification (N62) the organization is classified as: Basketball, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Minnesota Heat Events Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Heat Events Inc 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 12/2022, Minnesota Heat Events Inc generated $751.4k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $769.0k during the year ending 12/2022. 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
THE CORPORATION IS ORGANIZED FOR CHARITABLE AND EDUCATIONAL PURPOSES BY PROVIDING PROGRAMS AND OPPORTUNITIES FOR CHILDREN IN MINNESOTA AND SURROUNDING STATES. THESE INCLUDE: 1) PROVIDING BASKETBALL CAMPS AND TOURNAMENTS FOR CHILDREN THAT OTHERWISE COULDN'T AFFORD TO PARTICIPATE. 2) SUPPORTING LOCAL SCHOOLS AND COMMUNITY EDUCATION PROGRAMS BY RENTING THEIR FACILITIES. 3) KEEPING CHILDREN BUSY THROUGH PARTICIPATION IN POSITIVE, HEALTHY ACIVITIES AND HELPING THEM GROW BOTH ON THE COURT AND AS INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MINNESOTA HEAT EVENTS EXPANDED ITS TOURNAMENT OFFERING AND SAW SOME RECORD NUMBER OF PARTICIPANTS IN 2022. DURING THE EARLY STAGES OF 2022, OUR BORDER BATTLE TOURNAMENT HOSTED TO OVER 225 TEAMS FROM MN, WI AND IA. IN THE SPRING AND SUMMER, WE ADDED THE STARTING POINT TOURNAMENT TO BRING OUT TOTAL TOURNAMENT OFFERING TO 7. ALSO WORTH NOTING THAT OUR FLAGSHIP TOURNAMENT, MEG VANG INVITATIONAL, SAW A RECORD NUMBER OF 467 TEAMS PARTICIPATE IN 2022. OUR CAMP OFFERINGS ALSO GREW TO 24 TOTAL CAMPS.
SUPPORTING LOCAL SCHOOLS AND COMMUNITY EDUCATION PROGRAMS BY RENTING THEIR FACILITIES
KEEPING CHILDREN BUSY THROUGH PARTICIPATION IN POSITIVE, HEALTHY ACTIVITIES AND HELPING THEM GROW BOTH ON THE COURT AND AS INDIVIDUALS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Willie Vang Board Member | Officer | 20 | $126,250 |
Nicholas Carroll Board Member | Officer | 5 | $0 |
Mary Hopp Treasurer | Officer | 5 | $0 |
Andrew Linaman President | Officer | 5 | $0 |
Karin Martinek Secretary | Officer | 5 | $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 | $1,708 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,708 |
| Total Program Service Revenue | $749,648 |
| 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 | $751,356 |
| 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. | $126,250 |
| Compensation of current officers, directors, key employees. | $63,125 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,326 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,138 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,099 |
| Office expenses | $3,490 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $26,856 |
| 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 | $0 |
| Insurance | $5,459 |
| All other expenses | $31,149 |
| Total functional expenses | $769,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $198,370 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $198,370 |
| 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 | $9,885 |
| Total liabilities | $9,885 |
| Net assets without donor restrictions | $188,485 |
| 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 | $198,370 |