Civic Intelligence

Madison Regatta Inc

990 • Fiscal year 2019 • EIN 35-6071199

Sep 01, 2018 to Aug 31, 2019 • Filed on Nov 20, 2019

Organization ProfileWWW.MADISONREGATTA.COM
PO Box 341Madison, IN 47250

(812) 701-5045

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

92nd percentile

0.80x

Higher debt load relative to assets than 92% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

58th percentile

0.10x

Higher debt load relative to revenue than 58% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Net Margin

22nd percentile

-6.8%

Higher net margin than 22% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2019

Asset Growth

3rd percentile

-42%

Faster asset growth than 3% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

42nd percentile

0.2%

Faster revenue growth than 42% of similar nonprofits.

2019 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$63,370

Down $45,056 (-42%) from 2018

Net Assets

Down

$12,648

Down $35,671 (-74%) from 2018

Liabilities

Down

$50,722

Down $9,385 (-16%) from 2018

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin22nd percentile

Revenue

Up

$527,539

Up $1,211 (+0.2%) from 2018

Expenses

Up

$563,210

Up $68,883 (+14%) from 2018

Net Income

Down

-$35,671

Down $67,672 (-211%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2016: $121,915Liabilities 2016: $0Net Assets 2016: $121,9152016Assets 2017: $136,979Liabilities 2017: $52,465Net Assets 2017: $84,5142017Assets 2018: $108,426Liabilities 2018: $60,107Net Assets 2018: $48,3192018Assets 2019: $63,370Liabilities 2019: $50,722Net Assets 2019: $12,6482019Assets 2020: $81,019Liabilities 2020: $51,853Net Assets 2020: $29,1662020Assets 2021: $225,902Liabilities 2021: $51,829Net Assets 2021: $174,0732021Assets 2022: $261,771Liabilities 2022: $51,829Net Assets 2022: $209,9422022Assets 2023: $195,855Liabilities 2023: $0Net Assets 2023: $195,8552023Assets 2024: $210,654Liabilities 2024: $661Net Assets 2024: $209,9932024

Highlighted filing

2019

Assets$63,370
Liabilities$50,722
Net Assets$12,648
Open 2019 Filing

Operations Trend

Revenue Growth42nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2016: $275,151Expenses 2016: $192,631Net Income 2016: $82,5202016Revenue 2017: $327,051Expenses 2017: $364,452Net Income 2017: -$37,4012017Revenue 2018: $526,328Expenses 2018: $494,327Net Income 2018: $32,0012018Revenue 2019: $527,539Expenses 2019: $563,210Net Income 2019: -$35,6712019Revenue 2020: $83,894Expenses 2020: $45,111Net Income 2020: $38,7832020Revenue 2021: $577,913Expenses 2021: $433,006Net Income 2021: $144,9072021Revenue 2022: $131,477Expenses 2022: $95,608Net Income 2022: $35,8692022Revenue 2023: $645,511Expenses 2023: $657,919Net Income 2023: -$12,4082023Revenue 2024: $950,655Expenses 2024: $934,837Net Income 2024: $15,8182024

Highlighted filing

2019

Revenue$527,539
Expenses$563,210
Net Income-$35,671
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2018 to Aug 31, 2019
Signed
Nov 20, 2019
Return Version
2018v3.1
Gross Receipts
$527,539
Mission and Program Overview

Mission

To provide services related to the hydroplane race and festival events

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$48,743$46,799▼ $1,944
Cash and Non-Interest-Bearing Accounts$59,683$16,571▼ $43,112
Total Assets$108,426$63,370▼ $45,056
Liabilities
Unsecured Notes Loans Payable$46,607$50,722▲ $4,115
Accounts Payable and Accrued Expenses$13,500--
Total Liabilities$60,107$50,722▼ $9,385
Net Assets / Fund Balance
Unrestricted Net Assets$48,319$12,648▼ $35,671
Total Net Assets Fund Balance$48,319$12,648▼ $35,671
Total Liabilities and Net Assets / Fund Balance$108,426$63,370▼ $45,056

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$46,799$54,059$100,858
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
Jason AbbottRace Chair
Roger SnellRace Chair
Tony ThorneVendor Chair
Matt TruePresident
Andrew ForresterDirector
Beth CampbellDirector
Brent TurnerDirector
Greg BentzDirector
Harold PerryDirector
Joe VollDirector
John KnoebelDirector
Kim TrueDirector
Michael HeitzDirector
Mick BarronDirector
Natalie GreenDirector
Nate DavisDirector
Tawana ThomasDirector
Kim WasherFestival CHA
Charlie GroomsMiss Madison
Tony SteinhardtMiss Madison
Libby HoffmanSecretary
Mike LichlyterSponsorship
Cheryl LyonTreasurer
Curtis ChathamVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$527,539
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-35,671
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$563,210
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$212,011--$212,011
Other Expenses$40,557--$40,557
Interest$4,115--$4,115
Occupancy$3,519--$3,519
Depreciation Depletion$1,944--$1,944
Fees for Services Accounting$1,699--$1,699
Total Functional Expenses$563,210$0$0$563,210
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“Documents provided upon request”

Filing and Contact Details

Filer

Filer Name
Madison Regatta Inc
EIN
35-6071199
Phone
8127015045
Address
PO BOX 341, MADISON, IN 47250

Signing Officer

Name
Matt True
Title
President
Signed
2019-11-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matt True
Formed
1955
Legal Domicile
In
Voting Board Members
21
Independent Board Members
21
Employees
0
Volunteers
75

Preparer

Firm
Sherman Barber & Mullikin Pc
Address
210 W 3RD ST, MADISON, IN 47250-3339
Preparer
Tracy L Wyne CPA
Phone
8122655312
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“To provide services related to staging hydroplane race and festival events in madison, in”

Form 990, Part IX, Line 24E

“Race chair - gpw class ex 33,500 0 0 treasurer - commission ga 27,800 0 0 race chair - crane expens 24,050 0 0 treasurer - event staff 19,983 0 0 v.p. & land manager - san 18,008 0 0 v.p. & land manager - sou 16,323 0 0 race chair - k & k insura 12,289 0 0 race chair - pit expense 7,522 0 0 festival chair - festival 7,174 0 0 race chair - fuel 6,960 0 0 v.p. & land manager - pro 4,561 0 0 race chair - safety & res 4,316 0 0 festival chair - teen pag 4,036 0 0 v.p. & land manager - gol 3,962 0 0 festival chair - generato 2,864 0 0 race chair - lodging 2,457 0 0 treasurer - regatta off & 2,308 0 0 race chair - race trophie 2,221 0 0 treasurer expense - credi 1,834 0 0 treasurer - wrist band ex 1,522 0 0 race chair - apba dues 1,245 0 0 treasurer - miscellaneous 1,155 0 0 festival chair - parade e 891 0 0 treasurer - office expens 862 0 0 treasurer - parking pass 793 0 0 festival chair - corn hol 750 0 0 sponsorship expense 643 0 0 rental expense 640 0 0 race chair - apba expense 500 0 0 treasurer - bank charges 305 0 0 treasurer exp.-chamber du 252 0 0 treasurer expense - posta 214 0 0 festival chair - firework 71 0 0 total 212,011 0 0”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE SERVICES RELATED TO STAGING HYDROPLANE RACE AND FESTIVAL EVENTS IN MADISON, IN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS PROVIDED UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3RACE CHAIR - GPW CLASS EX 33,500 0 0 TREASURER - COMMISSION GA 27,800 0 0 RACE CHAIR - CRANE EXPENS 24,050 0 0 TREASURER - EVENT STAFF 19,983 0 0 V.P. & LAND MANAGER - SAN 18,008 0 0 V.P. & LAND MANAGER - SOU 16,323 0 0 RACE CHAIR - K & K INSURA 12,289 0 0 RACE CHAIR - PIT EXPENSE 7,522 0 0 FESTIVAL CHAIR - FESTIVAL 7,174 0 0 RACE CHAIR - FUEL 6,960 0 0 V.P. & LAND MANAGER - PRO 4,561 0 0 RACE CHAIR - SAFETY & RES 4,316 0 0 FESTIVAL CHAIR - TEEN PAG 4,036 0 0 V.P. & LAND MANAGER - GOL 3,962 0 0 FESTIVAL CHAIR - GENERATO 2,864 0 0 RACE CHAIR - LODGING 2,457 0 0 TREASURER - REGATTA OFF & 2,308 0 0 RACE CHAIR - RACE TROPHIE 2,221 0 0 TREASURER EXPENSE - CREDI 1,834 0 0 TREASURER - WRIST BAND EX 1,522 0 0 RACE CHAIR - APBA DUES 1,245 0 0 TREASURER - MISCELLANEOUS 1,155 0 0 FESTIVAL CHAIR - PARADE E 891 0 0 TREASURER - OFFICE EXPENS 862 0 0 TREASURER - PARKING PASS 793 0 0 FESTIVAL CHAIR - CORN HOL 750 0 0 SPONSORSHIP EXPENSE 643 0 0 RENTAL EXPENSE 640 0 0 RACE CHAIR - APBA EXPENSE 500 0 0 TREASURER - BANK CHARGES 305 0 0 TREASURER EXP.-CHAMBER DU 252 0 0 TREASURER EXPENSE - POSTA 214 0 0 FESTIVAL CHAIR - FIREWORK 71 0 0 TOTAL 212,011 0 0
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ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-20
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$63,370
Liabilities
$50,722
Net assets
$12,648
Revenue
$527,539
Expenses
$563,210
Net income
-$35,671
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.11$0.01$2.10$9.51$9.35$0.16
2023Detailed filing. Detailed filing data is available for this year.$1.96$0.00$1.96$6.46$6.58$0.12
2022Detailed filing. Detailed filing data is available for this year.$2.62$0.52$2.10$1.31$0.96$0.36
2021Detailed filing. Detailed filing data is available for this year.$2.26$0.52$1.74$5.78$4.33$1.45
2020Detailed filing. Detailed filing data is available for this year.$0.81$0.52$0.29$0.84$0.45$0.39
2019Detailed filing. Detailed filing data is available for this year.$0.63$0.51$0.13$5.28$5.63$0.36
2018Detailed filing. Detailed filing data is available for this year.$1.08$0.60$0.48$5.26$4.94$0.32
2017Detailed filing. Detailed filing data is available for this year.$1.37$0.52$0.85$3.27$3.64$0.37
2016Detailed filing. Detailed filing data is available for this year.$1.22$0.00$1.22$2.75$1.93$0.83