Great Reno Balloon Race Inc
- Assets
- $164.3k
- Revenue
- $583.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Reno, NV
- Founding
- 09/2012
- Data as of
- 11/2022
- EIN
- 88-0196071
Organization Overview
Great Reno Balloon Race Inc is located in Reno, NV. The organization was established in 2012. According to its NTEE Classification (S80) the organization is classified as: Community Service Clubs, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Great Reno Balloon Race 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 11/2022, Great Reno Balloon Race Inc generated $583.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $505.7k during the year ending 11/2022. While expenses have increased by 4.6% per year over the past 7 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
TO PROMOTE TOURISM IN RENO WITH THREE DAY BALLOON RACE EVENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GREAT RENO BALLOON RACE (GRBR) BEGAN IN 1982 AS A WAY TO KEEP VISITORS IN RENO ON THE WEEKEND BETWEEN THE STATE FAIR AND THE AIR RACES. THE VISION WAS TO CREATE SOMETHING THAT WOULD ENDURE AS A GIFT TO THE COMMUNITY - SAFE, FRIENDLY AND FREE. GRBR IS NOW THE NATION'S LARGEST FREE HOT-AIR BALLOON EVENT WITH AN AVERAGE OF 150,000 PEOPLE ATTENDING THE RACE OVER THE PERIOD OF THREE SEPTEMBER DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pete Copeland Executive Director | Officer | 1 | $77,400 |
Mike Klaich Treasurer | OfficerTrustee | 1 | $0 |
Pilar M Aldecoaotalora Secretary | OfficerTrustee | 1 | $0 |
Mike Buis Vice President | OfficerTrustee | 1 | $0 |
Chris Dondero President | OfficerTrustee | 1 | $0 |
Nancy Gilbert Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $100,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $186,528 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $286,528 |
| Total Program Service Revenue | $255,017 |
| 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 | $8,225 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $33,941 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $583,711 |
| 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 | $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 | $181,452 |
| Advertising and promotion | $0 |
| Office expenses | $22,943 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,383 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,076 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $22,976 |
| All other expenses | $48,977 |
| Total functional expenses | $505,671 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $162,826 |
| 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 | $1,450 |
| Total assets | $164,276 |
| Accounts payable and accrued expenses | $5,000 |
| 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 | $5,000 |
| 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 | $159,276 |
| Total liabilities and net assets/fund balances | $164,276 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Great Reno Balloon Race Inc has recieved totaling $5,121.
| Awarding Organization | Amount |
|---|---|
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $5,121 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fund For A Better Future Inc Sacramento, CA | $12,452,035 | $69,118,422 |
Municipal Improvement Corporation Of Los Angeles Los Angeles, CA | $2,097,815,264 | $70,901,113 |
Benson House Inc Ontario, CA | $11,925,572 | $18,491,625 |
Community Services Agency Reno, NV | $7,843,023 | $11,495,915 |
Fresno Building Healthy Communities Fresno, CA | $7,681,991 | $11,111,006 |
Korean Immigrant Workers Advocates Of Southern California Los Angeles, CA | $4,731,702 | $8,492,805 |
Native Americans For Community Action Inc Flagstaff, AZ | $13,508,728 | $5,982,716 |
Goleta Valley Professional Buildings Inc Santa Barbara, CA | $89,343,424 | $8,414,379 |
Foothill Ranch Maintenance Corporation Irvine, CA | $3,077,161 | $4,440,100 |
Pilipino Workers Center Of Southern Los Angeles, CA | $1,734,132 | $5,015,376 |
South Eastern Idaho Community Pocatello, ID | $5,750,799 | $3,683,486 |
Southwest District Kiwanis Foundation Carefree, AZ | $3,902,018 | $3,838,305 |