Civic Intelligence

Fargo Marathon Inc

990 • Fiscal year 2019 • EIN 43-2043293

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 12, 2020

405 West Main Ave No 1DWest Fargo, ND 58078

(701) 364-2786

Siviq Scores

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

Liabilities / Assets

84th percentile

0.58x

Higher debt load relative to assets than 84% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

47th percentile

0.07x

Higher debt load relative to revenue than 47% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

20th percentile

-11%

Higher net margin than 20% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

1st percentile

-71%

Faster asset growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

11th percentile

-27%

Faster revenue growth than 11% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$144,628

Down $354,087 (-71%) from 2018

Net Assets

Down

$61,377

Down $90,453 (-60%) from 2018

Liabilities

Down

$83,251

Down $263,634 (-76%) from 2018

Revenue

Down

$1,128,094

Down $411,663 (-27%) from 2018

Expenses

Down

$1,251,880

Down $294,250 (-19%) from 2018

Net Income

Down

-$123,786

Down $117,413 (-1842%) from 2018

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2010: $458,073Liabilities 2010: $9,550Net Assets 2010: $448,5232010Assets 2011: $673,473Liabilities 2011: $279,582Net Assets 2011: $393,8912011Assets 2012: $608,311Liabilities 2012: $201,625Net Assets 2012: $406,6862012Assets 2013: $701,898Liabilities 2013: $316,888Net Assets 2013: $385,0102013Assets 2014: $629,222Liabilities 2014: $275,584Net Assets 2014: $353,6382014Assets 2015: $478,661Liabilities 2015: $227,440Net Assets 2015: $251,2212015Assets 2016: $343,326Liabilities 2016: $263,091Net Assets 2016: $80,2352016Assets 2017: $406,518Liabilities 2017: $344,248Net Assets 2017: $62,2702017Assets 2018: $498,715Liabilities 2018: $346,885Net Assets 2018: $151,8302018Assets 2019: $144,628Liabilities 2019: $83,251Net Assets 2019: $61,3772019Assets 2020: $66,480Liabilities 2020: $20,067Net Assets 2020: $46,4132020Assets 2021: $47,460Liabilities 2021: $5,000Net Assets 2021: $42,4602021Assets 2023: $61,765Liabilities 2023: $0Net Assets 2023: $61,7652023

Highlighted filing

2019

Assets$144,628
Liabilities$83,251
Net Assets$61,377

Operations Trend

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

$2.0M$1.0M$0-$1.0MExpenses 2010: $914,2432010Revenue 2011: $121,766Expenses 2011: $189,915Net Income 2011: -$68,1492011Revenue 2012: $1,481,538Expenses 2012: $1,721,181Net Income 2012: -$239,6432012Revenue 2013: $1,486,624Expenses 2013: $1,742,500Net Income 2013: -$255,8762013Revenue 2014: $1,556,214Expenses 2014: $1,813,017Net Income 2014: -$256,8032014Revenue 2015: $1,576,467Expenses 2015: $1,699,297Net Income 2015: -$122,8302015Revenue 2016: $1,413,497Expenses 2016: $1,653,274Net Income 2016: -$239,7772016Revenue 2017: $1,422,710Expenses 2017: $1,562,201Net Income 2017: -$139,4912017Revenue 2018: $1,539,757Expenses 2018: $1,546,130Net Income 2018: -$6,3732018Revenue 2019: $1,128,094Expenses 2019: $1,251,880Net Income 2019: -$123,7862019Revenue 2020: $20,806Expenses 2020: $35,770Net Income 2020: -$14,9642020Revenue 2021: $64,513Expenses 2021: $68,466Net Income 2021: -$3,9532021Revenue 2023: $70,388Expenses 2023: $37,050Net Income 2023: $33,3382023

Highlighted filing

2019

Revenue$1,128,094
Expenses$1,251,880
Net Income-$123,786
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 12, 2020
Return Version
2019v5.1
Gross Receipts
$1,221,694
Mission and Program Overview

Mission

The purpose of the organization is to promote healthy and active lifestyles for people of all ages.

The primary exempt purpose of Fargo Marathon, Inc. is to operate and administer Road Race events, including the Fargo Marathon, the Dick Beardsley Marathon and the Fargo Mini Marathon. All of which promote a healthy, physically fit lifestyle and foster amateur sports competition.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$303,623$120,729▼ $182,894
Intangible Assets$105,300--
Accounts Receivable$52,691--
Receivable From Disqualified Prsn$20,000$15,000▼ $5,000
Land, Buildings, and Equipment, Net$11,583$5,245▼ $6,338
Prepaid Expenses and Deferred Charges$1,864--
Total Assets$498,715$144,628▼ $354,087
Other Assets Total$3,654$3,654→ $0
Liabilities
Other Liabilities$31,014$66,376▲ $35,362
Deferred Revenue$265,413$15,000▼ $250,413
Accounts Payable and Accrued Expenses$50,458$1,875▼ $48,583
Total Liabilities$346,885$83,251▼ $263,634
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$151,830$61,377▼ $90,453
Total Net Assets Fund Balance$151,830$61,377▼ $90,453
Total Liabilities and Net Assets / Fund Balance$498,715$144,628▼ $354,087

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,245$30,884$36,129
Compensation and Service Providers

Board Members and Trustees

NameTitle
Troy IvesdalPresident/Secretary
Mark KnutsonVice President/Executive Director
Alison DyeDirector
Dave StendeDirector
Nola McNeallyDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Go Far Events IncManagement Fees405 West Main Avenue Westgo Square, West Fargo, ND 58078$257,167
Revenue and Support

Revenue Composition

Contributions and Grants
$94,336
Program Service Revenue
$1,026,982
Investment Income
$6,656
Other Revenue
$120
All Other Contributions
$94,336
Change in Net Assets
$-123,786

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,128,094
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$33,333
Total Revenue per Audited Statements
$1,161,427
Total Revenue per Form 990
$1,128,094
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,251,630
Total Fundraising Expense$77,150
Salaries, Compensation, and Employee Benefits$250
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$217,346$175,666-$393,012
Fees for Services Management-$180,017$77,150$257,167
Occupancy$58,078$13,796-$71,874
Office Expenses$2,277$13,120-$15,397
Fees for Services Accounting-$14,655-$14,655
Depreciation Depletion-$14,260-$14,260
Fees for Services Other$11,594--$11,594
Fees for Services Legal-$7,171-$7,171
Other Expenses$6,711--$6,711
Travel$6,604$60-$6,664
Conferences and Meetings$3,710$1,839-$5,549
Insurance-$1,652-$1,652
Interest-$519-$519
All Other Expenses-$306-$306
Other Salaries and Wages$250--$250
Information Technology-$106-$106
Total Functional Expenses$751,563$423,167$77,150$1,251,880

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,251,880
Total Expenses per Audited Statements$1,251,880
Total Expenses per Form 990$1,251,880
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Executive Director is the sole ownerManagement Fee - Mark Knutson is the Executive Director of Fargo Marathon, Inc. as well as the owner of Go Far Events, Inc. Fargo Marathon, Inc. pays a monthly management fee to Go Far Events, Inc. for management services.No$257,167

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons$20,000$15,000▼ $5,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Related Party Payable$66,376
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
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
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

Fargo Marathon, Inc. has a management agreement with Go Far Events, Inc. for the duties of the management team. Mark Knutson is compensated by Go Far Events for his serves to Fargo Marathon, Inc. During 2019, Fargo Marathon paid $257,167 for management services to Go Far Events, Inc.

Form 990, Part VI, Section A, line 8B

There are no committees with the authority to act on behalf of the board.

Form 990, Part VI, Section B, line 11B

The Board will review the Form 990 prior to filing with the IRS or at the next board meeting following the IRS filing date.

Form 990, Part VI, Section B, line 15

There are no officers who are paid by the organization. Go Far Events, Inc. has a management agreement with Fargo Marathon, Inc. This management agreement is approved by the board each year. Mark Knutson, Executive Director, abstains from the discussion and voting on the agreement due to a conflict of interest. There are no other key employees or officers that are compensated.

Form 990, Part VI, Section C, line 19

The governing documents and the financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Fargo Marathon Inc
EIN
43-2043293
Phone
7013642786
Address
405 West Main Ave No 1D, West Fargo, ND 58078

Signing Officer

Name
Mark Knutson
Title
Vice President/Executive Director
Phone
7013642786
Signed
2020-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Knutson
Formed
2004
Legal Domicile
Nd
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
1,700

Preparer

Firm
Eide Bailly LLP
Address
1730 Burnt Boat Loop Ste 100, Bismarck, ND 58503-0886
Preparer
Lisa Chaffee CPA
Phone
7012551091
Supplemental Narrative

Additional Explanations

Form 990, Part III, line 3

On November 18, 2019 the Organization entered into an agreement to transfer and assign the assets of the Organization relating to the Fargo Marathon, the Dick Beardsley Run, and the Fargo Mini Marathon to Rugged Races, LLC. The goodwill relating to Dick Beardsley Run and Fargo Mini Marathon was included in the sale. The Organization is continuing operations, but in a limited capacity for its charitable purpose of providing shoes to kids of need in the Fargo-Moorhead area.

Financial Statement Notes

Part X, Line 2:

The Organization is considered a publicly supported organization and is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code of 1986. This exempt status will continue in effect provided that the Organization does not change its purpose, character or method of operation.

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IRS990/Desc0Fargo Marathon, Inc. is North Dakota nonprofit organization. The purpose of the organization is to promote healthy and active lifestyles for people of all ages by creating, managing and hosting running and walking events. The organization makes financial donations to various non-profit groups who help to volunteer at the events. The organization's largest charitable effort is its "Shoes for Kids" program which donates 1,000 pairs of shoes to children in the local community elementary schools.At the end of the year, Fargo Marathon, Inc. owned four races: The Resolution Run, the Fargo Marathon, the Dick Beardsley Half Marathon and the Fargo Mini Marathon.The Resolution Run was held in January in Fargo, North Dakota and has approximately 300 participantsThe Fargo Marathon was held in May in Fargo, North Dakota and had approximately 17,000 participants across six different events.The Dick Beardsley Half Marathon was held in September in Detroit Lakes, Minnesota had had approximately 1,800 participants.The Fargo Mini Marathon was held in October in Fargo, North Dakota and had approximately 1,700 participants.
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IRS990/MissionDesc0The Fargo Marathon will continuously strive to promote a friendly and fun event dedicated to the participants, the volunteers, spectators and our chosen charities. We firmly believe that physical fitness should not be a choice, but rather, a part of life for all people of all ages.All races were sold at the end of 2019. The Organization will continue operations, but in a limited capacity for its charitable purpose of providing shoes to kids of need in the Fargo-Moorhead area.
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IRS990/ProgramServiceRevenueGrp/Desc0Registrations
IRS990/ProgramServiceRevenueGrp/Desc1Health Expo
IRS990/ProgramServiceRevenueGrp/Desc2Misc Event Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01016741
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt15400
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt24841
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt15400
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt24841
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt03311
IRS990/PYInvestmentIncomeAmt0113
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IRS990/PYSalariesCompEmpBnftPaidAmt0500
IRS990/PYTotalExpensesAmt01546130
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01539757
IRS990/QuidProQuoContributionsInd00
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt020000
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt015000
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IRS990/ReconcilationRevenueExpnssAmt0-123786
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01027102
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0303623
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0120729
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt05000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt025000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt075000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt081500
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt039371
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0225871
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt094336
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0389326
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0280761
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0309252
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0305879
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01379554
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0256
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0113
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt03825
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt04719
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt098
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt09011
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01027102
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01150357
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01138274
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01110499
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01270490
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt05696722
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus2YearsAmt01833
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt01320
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt03153
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0256
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0113
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt03825
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt04719
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt098
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt09011
IRS990ScheduleA/InvestmentIncomeCYPct00.00130
IRS990ScheduleA/InvestmentIncomePYPct00.00120
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.96690
IRS990ScheduleA/PublicSupportPY509Pct00.96340
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt05000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt025000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt075000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt081500
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt039371
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0225871
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01420868
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01421071
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01576369
IRS990ScheduleA/Total509Grp/TotalAmt07079429
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01121694
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01539796
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01424693
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01425790
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01576467
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt07088440
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt033333
IRS990ScheduleD/EquipmentGrp/BookValueAmt05245
IRS990ScheduleD/EquipmentGrp/DepreciationAmt030884
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt036129
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01251880
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt066376
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Related Party Payable
IRS990ScheduleD/RevenueNotReportedAmt033333
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01128094
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is considered a publicly supported organization and is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code of 1986. This exempt status will continue in effect provided that the Organization does not change its purpose, character or method of operation.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05245
IRS990ScheduleD/TotalExpensesPerForm990Amt01251880
IRS990ScheduleD/TotalLiabilityAmt066376
IRS990ScheduleD/TotalRevenuePerForm990Amt01128094
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01161427
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01251880
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0Go Far Events Inc
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Executive Director is the sole owner
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0257167
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Management Fee - Mark Knutson is the Executive Director of Fargo Marathon, Inc. as well as the owner of Go Far Events, Inc. Fargo Marathon, Inc. pays a monthly management fee to Go Far Events, Inc. for management services.
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt015000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BusinessName/BusinessNameLine1Txt0Run Around Events Inc
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Installment sale for purcahse of Go Far Woman Race
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt025000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Family member of Executive Director Mark Knutson is majority owner
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt015000
IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Sale of races from financial statement footnote 7. See supplemental information.
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0Rugged Races LLC
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02019-11-18
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0272538952
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt0100000
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0N/A
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0Transaction value was board approved.
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt085 Devonshire Street 9th Floo
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0Boston
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0MA
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd002109
IRS990ScheduleN/EmployeeOfSuccessor2Ind01
IRS990ScheduleN/OwnerOfSuccessor2Ind00
IRS990ScheduleN/ReceiveCompensation2Ind00
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0Person(s) Involved: Mark Knutson
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt1Explanation of Involvement: Mark Knutson was hired by Rugged Races, LLC upon the completion of the sale of the Fargo Marathon assets to Rugged Races, LLC.
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt2On November 18, 2019 the Organization entered into an agreement to transfer and assign the assets of the Organization relating to the Fargo Marathon, the Dick Beardsley Run, and the Fargo Mini Marathon to Rugged Races, LLC. The goodwill relating to Dick Beardsley Run and Fargo Mini Marathon was included in the sale. The Organization is continuing operations, but in a limited capacity for its charitable purpose of providing shoes to kids of need in the Fargo-Moorhead area.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0Part II, Line 2e:
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc1Part II, Line 2e:
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule N, Part II, Line 1a:
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0On November 18, 2019 the Organization entered into an agreement to transfer and assign the assets of the Organization relating to the Fargo Marathon, the Dick Beardsley Run, and the Fargo Mini Marathon to Rugged Races, LLC. The goodwill relating to Dick Beardsley Run and Fargo Mini Marathon was included in the sale. The Organization is continuing operations, but in a limited capacity for its charitable purpose of providing shoes to kids of need in the Fargo-Moorhead area.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Fargo Marathon, Inc. has a management agreement with Go Far Events, Inc. for the duties of the management team. Mark Knutson is compensated by Go Far Events for his serves to Fargo Marathon, Inc. During 2019, Fargo Marathon paid $257,167 for management services to Go Far Events, Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2There are no committees with the authority to act on behalf of the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Board will review the Form 990 prior to filing with the IRS or at the next board meeting following the IRS filing date.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4There are no officers who are paid by the organization. Go Far Events, Inc. has a management agreement with Fargo Marathon, Inc. This management agreement is approved by the board each year. Mark Knutson, Executive Director, abstains from the discussion and voting on the agreement due to a conflict of interest. There are no other key employees or officers that are compensated.

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