Civic Intelligence

Chisago Lakes Arena Inc

EIN 41-1655285 • 501(c)3 • Lindstrom, MN

Profile

Civic and social welfarethe organization exists to manage, maintain and operate the arena and direct excess revenues to be invested in our area youth athletic programs. Scholarships are given to local youth as well.

PO Box 472Lindstrom, MN 55045

www.chisagolakesarena.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

35th percentile

0.02x

Higher debt load relative to assets than 35% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

57th percentile

0.12x

Higher debt load relative to revenue than 57% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

7th percentile

-51%

Higher net margin than 7% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

17th percentile

-8.6%

Faster asset growth than 17% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

8th percentile

-36%

Faster revenue growth than 8% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$1,707,391

Down $160,466 (-8.6%) from 2019

Liabilities

Down

$25,791

Down $47,315 (-65%) from 2019

Net Assets

Down

$1,681,600

Down $113,151 (-6.3%) from 2019

Revenue

Down

$220,390

Down $125,008 (-36%) from 2019

Expenses

Down

$333,541

Down $11,565 (-3.4%) from 2019

Net Income

Down

-$113,151

Down $113,443 (-38850%) from 2019

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2010: $2,116,636Liabilities 2010: $225,729Net Assets 2010: $1,890,9072010Assets 2011: $2,072,096Liabilities 2011: $220,554Net Assets 2011: $1,851,5422011Assets 2012: $2,027,557Liabilities 2012: $185,621Net Assets 2012: $1,841,9362012Assets 2013: $2,052,134Liabilities 2013: $154,214Net Assets 2013: $1,897,9202013Assets 2014: $2,041,237Liabilities 2014: $235,221Net Assets 2014: $1,806,0162014Assets 2015: $1,987,029Liabilities 2015: $205,147Net Assets 2015: $1,781,8822015Assets 2016: $1,950,234Liabilities 2016: $174,953Net Assets 2016: $1,775,2812016Assets 2017: $1,853,340Liabilities 2017: $143,009Net Assets 2017: $1,710,3312017Assets 2018: $1,902,552Liabilities 2018: $108,093Net Assets 2018: $1,794,4592018Assets 2019: $1,867,857Liabilities 2019: $73,106Net Assets 2019: $1,794,7512019Assets 2020: $1,707,391Liabilities 2020: $25,791Net Assets 2020: $1,681,6002020

Highlighted filing

2020

Assets$1,707,391
Liabilities$25,791
Net Assets$1,681,600

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KExpenses 2010: $304,6922010Expenses 2011: $304,9852011Revenue 2012: $299,362Expenses 2012: $308,968Net Income 2012: -$9,6062012Revenue 2013: $388,140Expenses 2013: $332,156Net Income 2013: $55,9842013Revenue 2014: $272,388Expenses 2014: $364,292Net Income 2014: -$91,9042014Revenue 2015: $368,635Expenses 2015: $392,769Net Income 2015: -$24,1342015Revenue 2016: $371,441Expenses 2016: $378,042Net Income 2016: -$6,6012016Revenue 2017: $305,848Expenses 2017: $370,798Net Income 2017: -$64,9502017Revenue 2018: $434,705Expenses 2018: $350,577Net Income 2018: $84,1282018Revenue 2019: $345,398Expenses 2019: $345,106Net Income 2019: $2922019Revenue 2020: $220,390Expenses 2020: $333,541Net Income 2020: -$113,1512020

Highlighted filing

2020

Revenue$220,390
Expenses$333,541
Net Income-$113,151

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 13, 2021
Return Version
2020v4.1
Gross Receipts
$220,390
Mission and Program Overview

Mission

Civic and social welfarethe organization exists to manage, maintain and operate the arena and direct excess revenues to be invested in our area youth athletic programs. Scholarships are given to local youth as well.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,794,751$1,681,600▼ $113,151
Land, Buildings, and Equipment, Net$1,406,244$1,308,930▼ $97,314
Cash and Non-Interest-Bearing Accounts$341,402$277,453▼ $63,949
Investments in Publicly Traded Securities$116,368$121,008▲ $4,640
Prepaid Expenses and Deferred Charges$3,843--
Total Assets$1,867,857$1,707,391▼ $160,466
Liabilities
Mortgage Notes Payable Secured by Investment Property$69,250$23,000▼ $46,250
Accounts Payable and Accrued Expenses$3,856$2,791▼ $1,065
Total Liabilities$73,106$25,791▼ $47,315
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,794,751$1,681,600▼ $113,151
Total Liabilities and Net Assets / Fund Balance$1,867,857$1,707,391▼ $160,466

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$645,961$1,651,943$2,297,904
Land$534,964-$534,964
Equipment$47,498$336,085$383,583
Leasehold Improvements$80,507$139,523$220,030
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Chris SlettomManagerFT$72,796$72,796

Board Members and Trustees

NameTitle
Rod AmundsonPresident
Ken KaltenhauserVice President
Chad NelsonDirector at Large
Gary LauritzenDirector at Large
Greg RadefeldtDirector at Large
Jeff HenselDirector at Large
Kevin BaumgartDirector at Large
Tom WilsonDirector at Large
Ed ArnoldOversight Director
Nancy RadefeldtSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$11,180
Program Service Revenue
$198,824
Investment Income
$10,386
Other Revenue
$0
All Other Contributions
$11,180
Change in Net Assets
$-113,151
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$228,219
Salaries, Compensation, and Employee Benefits$101,822
Grants and Similar Amounts Paid$3,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$102,995--$102,995
Current Officers, Directors, Trustees, and Key Employees$72,796--$72,796
Other Expenses$50,843--$50,843
Insurance$26,637--$26,637
Other Salaries and Wages$21,529--$21,529
Payroll Taxes$7,497--$7,497
Fees for Services Accounting-$4,785-$4,785
Grants to Domestic Individuals$3,500--$3,500
All Other Expenses$1,934--$1,934
Office Expenses-$793-$793
Interest-$766-$766
Fees for Services Other-$642-$642
Travel$376--$376
Information Technology-$177-$177
Total Functional Expenses$326,378$7,163$0$333,541
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
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

Disclosure: greg radefeldt and nancy radefeldt are family members that serve on the board as director at large and secretary respectively.

Form 990 governing body review Part VI line 11

The governing body reviews the form 990 prior to it being filed.

Other officer or key employee compensation Part VI line 15B

The only key employee, has his compensation approved by the board.

Governing documents etc available to public Part VI line 19

Documents such as form 990 are available to the public by request.

Filing and Contact Details

Filer

Filer Name
Chisago Lakes Arena Inc
EIN
41-1655285
Address
PO BOX 472, LINDSTROM, MN 55045

Signing Officer

Name
Chris Slettom
Title
Manager
Phone
6512578694
Signed
2021-11-13
Discuss with paid preparer
Yes

Organization Details

Formed
1989
Legal Domicile
Mn
Voting Board Members
11
Independent Board Members
11
Employees
17
Volunteers
10

Preparer

Firm
VerBout Services
Address
25 N Lake St Su 300, Forest Lake, MN 55025
Preparer
Kerry L Sauve CPA
Phone
6514647941
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DISCLOSURE: GREG RADEFELDT AND NANCY RADEFELDT ARE FAMILY MEMBERS THAT SERVE ON THE BOARD AS DIRECTOR AT LARGE AND SECRETARY RESPECTIVELY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY REVIEWS THE FORM 990 PRIOR TO IT BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ONLY KEY EMPLOYEE, HAS HIS COMPENSATION APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS SUCH AS FORM 990 ARE AVAILABLE TO THE PUBLIC BY REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
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