Civic Intelligence

Arenaco

990 • Fiscal year 2023 • EIN 81-4968896

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 14, 2023

Organization ProfileWWW.XTREAMARENA.COM
900 1st AvenueCoralville, IA 52241

(319) 248-1700

Siviq Scores

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

Liabilities / Assets

80th percentile

0.67x

Higher debt load relative to assets than 80% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

97th percentile

11.19x

Higher debt load relative to revenue than 97% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Net Margin

5th percentile

-55%

Higher net margin than 5% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Top Officer Pay

6th percentile

$0

Higher top officer pay than 6% of similar nonprofits.

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

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Asset Growth

16th percentile

-3.0%

Faster asset growth than 16% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

29th percentile

-5.8%

Faster revenue growth than 29% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets80th percentile

Assets

Down

$67,033,766

Down $2,082,394 (-3.0%) from 2022

Net Assets

Down

$22,390,223

Down $16,537,352 (-42%) from 2022

Liabilities

Up

$44,643,543

Up $14,454,958 (+48%) from 2022

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin5th percentile

Revenue

Down

$3,989,916

Down $244,115 (-5.8%) from 2022

Expenses

Down

$6,172,756

Down $2,361,629 (-28%) from 2022

Net Income

Up

-$2,182,840

Up $2,117,514 (+49%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$80M$60M$40M$20M$0Assets 2018: $47,828Net Assets 2018: $47,8282018Assets 2019: $38,298,420Liabilities 2019: $14,247,514Net Assets 2019: $24,050,9062019Assets 2020: $45,872,582Liabilities 2020: $22,018,011Net Assets 2020: $23,854,5712020Assets 2021: $71,577,152Liabilities 2021: $28,349,223Net Assets 2021: $43,227,9292021Assets 2022: $69,116,160Liabilities 2022: $30,188,585Net Assets 2022: $38,927,5752022Assets 2023: $67,033,766Liabilities 2023: $44,643,543Net Assets 2023: $22,390,2232023Assets 2025: $71,733,704Liabilities 2025: $52,583,016Net Assets 2025: $19,150,6882025

Highlighted filing

2023

Assets$67,033,766
Liabilities$44,643,543
Net Assets$22,390,223
Open 2023 Filing

Operations Trend

Revenue Growth29th percentile

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

$30M$20M$10M$0-$10MRevenue 2018: $59,755Expenses 2018: $11,927Net Income 2018: $47,8282018Revenue 2019: $24,161,086Expenses 2019: $158,008Net Income 2019: $24,003,0782019Revenue 2020: $554,050Expenses 2020: $750,385Net Income 2020: -$196,3352020Revenue 2021: $16,199,613Expenses 2021: $6,466,183Net Income 2021: $9,733,4302021Revenue 2022: $4,234,031Expenses 2022: $8,534,385Net Income 2022: -$4,300,3542022Revenue 2023: $3,989,916Expenses 2023: $6,172,756Net Income 2023: -$2,182,8402023Revenue 2025: $5,925,123Expenses 2025: $7,498,873Net Income 2025: -$1,573,7502025

Highlighted filing

2023

Revenue$3,989,916
Expenses$6,172,756
Net Income-$2,182,840
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$3,989,916
Mission and Program Overview

Mission

To support and operate for the benefit of the city of coralville, iowa; to lessen the burdens imposed upon the government of the city of coralville through the corporation's programs and activities; to promote economic development and growth within the city of coralville; and to promote the social welfare of the residents of the city of coralville.

To own and operate entertainment facilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$66,563,074$66,356,978▼ $206,096
Cash and Non-Interest-Bearing Accounts$2,553,086$676,788▼ $1,876,298
Total Assets$69,116,160$67,033,766▼ $2,082,394
Liabilities
Mortgage Notes Payable Secured by Investment Property$28,267,543$44,643,543▲ $16,376,000
Accounts Payable and Accrued Expenses$1,921,042--
Total Liabilities$30,188,585$44,643,543▲ $14,454,958
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$38,927,575$22,390,223▼ $16,537,352
Total Net Assets Fund Balance$38,927,575$22,390,223▼ $16,537,352
Total Liabilities and Net Assets / Fund Balance$69,116,160$67,033,766▼ $2,082,394

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$66,356,978$6,910,441$73,267,419
Compensation and Service Providers
Top Officer Pay6th percentile

Board Members and Trustees

NameTitle
Josh SchambergerPresident
Theresa KaedingVice President
Bob DvorskyDirector
Kelly HayworthDirector
Sarah MclaughlinDirector
John WeiheSecretary
Laurie GoodrichTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$987,907
Program Service Revenue
$2,990,142
Investment Income
$11,867
Other Revenue
$0
All Other Contributions
$667,000
Change in Net Assets
$-2,182,840

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,989,916
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-75,802
Total Revenue per Audited Statements
$3,914,114
Total Revenue per Form 990
$3,989,916
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,172,756
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
Depreciation Depletion$2,562,293--$2,562,293
Interest$330,479--$330,479
Fees for Services Other$205,267--$205,267
Fees for Services Legal-$156,024-$156,024
Insurance$103,652--$103,652
Occupancy$67,801--$67,801
Other Expenses$18,937--$18,937
Advertising$1,273--$1,273
Office Expenses-$317-$317
Total Functional Expenses$6,016,415$156,341$0$6,172,756

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,172,756
Total Expenses per Audited Statements$6,172,756
Total Expenses per Form 990$6,172,756
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
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, Part VI, Section B, Line 11B

“The board president and vice president review the 990 before filing.”

Form 990, Part VI, Section C, Line 19

“Governing documents are made available to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
Arenaco
EIN
81-4968896
Phone
3192481700
Address
900 1ST AVENUE, CORALVILLE, IA 52241

Signing Officer

Name
Josh Schamberger
Title
President
Phone
3192481700
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Josh Schamberger
Formed
2017
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Bergankdv Ltd
Address
PO BOX 2100, WATERLOO, IA 50704-2100
Preparer
Brian Aronson CPA
Phone
3192346885
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Reimburse ieda overpayment in prior period -75,802.”

FORM 990, PART XII, LINE 1:

“The organization has consistently followed the modified cash basis of accounting, however, the accrual basis of accounting was inadvertantly checked on the previously submitted 990's.”

Part XI, Line 8

“The 2021 form 990 was filed prior to the completion of the organization's financial statement audit which resulted in adjustments totaling $14,278,710.”

Raw XML AppendixShowing 400 of 402 raw XML fields

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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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt02512
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt06388
IRS990ScheduleA/InvestmentIncomeCYPct00.00010
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.96510
IRS990ScheduleA/PublicSupportTotal509Amt047413321
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt0655500
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt0540000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt0515000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt01710500
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt03978049
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt04233535
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt016197101
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0554050
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt024161086
IRS990ScheduleA/Total509Grp/TotalAmt049123821
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt03981429
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt04234031
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt016199613
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0554050
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt024161086
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt049130209
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/BuildingsGrp/BookValueAmt066356978
IRS990ScheduleD/BuildingsGrp/DepreciationAmt06910441
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt073267419
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt06172756
IRS990ScheduleD/RecoveriesPriorYearGrantsAmt0-75802
IRS990ScheduleD/RevenueNotReportedAmt0-75802
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03989916
IRS990ScheduleD/TotalBookValueLandBuildingsAmt066356978
IRS990ScheduleD/TotalExpensesPerForm990Amt06172756
IRS990ScheduleD/TotalRevenuePerForm990Amt03989916
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03914114
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06172756
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD PRESIDENT AND VICE PRESIDENT REVIEW THE 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REIMBURSE IEDA OVERPAYMENT IN PRIOR PERIOD -75,802.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS CONSISTENTLY FOLLOWED THE MODIFIED CASH BASIS OF ACCOUNTING, HOWEVER, THE ACCRUAL BASIS OF ACCOUNTING WAS INADVERTANTLY CHECKED ON THE PREVIOUSLY SUBMITTED 990'S.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE 2021 FORM 990 WAS FILED PRIOR TO THE COMPLETION OF THE ORGANIZATION'S FINANCIAL STATEMENT AUDIT WHICH RESULTED IN ADJUSTMENTS TOTALING $14,278,710.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 1:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XI, LINE 8
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt069116160
IRS990/TotalAssetsEOYAmt067033766
IRS990/TotalAssetsGrp/BOYAmt069116160
IRS990/TotalAssetsGrp/EOYAmt067033766
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0987907
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0156341
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt06016415
IRS990/TotalFunctionalExpensesGrp/TotalAmt06172756
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt030188585
IRS990/TotalLiabilitiesEOYAmt044643543
IRS990/TotalLiabilitiesGrp/BOYAmt030188585
IRS990/TotalLiabilitiesGrp/EOYAmt044643543
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt038927575
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt022390223
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt06016415
IRS990/TotalProgramServiceRevenueAmt02990142
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt011867
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02990142
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03989916
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt069116160
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt067033766
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0900 1ST AVENUE
IRS990/USAddress/CityNm0CORALVILLE
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052241
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.XTREAMARENA.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSH SCHAMBERGER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03192481700
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ARENACO
ReturnHeader/Filer/BusinessNameControlTxt0AREN
ReturnHeader/Filer/EIN0814968896
ReturnHeader/Filer/PhoneNum03192481700
ReturnHeader/Filer/USAddress/AddressLine1Txt0900 1ST AVENUE
ReturnHeader/Filer/USAddress/CityNm0CORALVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052241
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411431613
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BERGANKDV LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 2100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WATERLOO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0507042100
ReturnHeader/PreparerPersonGrp/PhoneNum03192346885
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRIAN ARONSON CPA
ReturnHeader/ReturnTs02023-11-15T10:31:40-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOSH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SCHAMBERGER
ReturnHeader/TaxPeriodBeginDt02022-07-01

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$67,033,766
Liabilities
$44,643,543
Net assets
$22,390,223
Revenue
$3,989,916
Expenses
$6,172,756
Net income
-$2,182,840
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$71.7$52.6$19.2$5.93$7.50$1.57
2023Detailed filing. Detailed filing data is available for this year.$67.0$44.6$22.4$3.99$6.17$2.18
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$69.1$30.2$38.9$4.23$8.53$4.30
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$71.6$28.3$43.2$16.2$6.47$9.73
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$45.9$22.0$23.9$0.55$0.75$0.20
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.3$14.2$24.1$24.2$0.16$24.0
2018Detailed filing. Detailed filing data is available for this year.$0.05$0.05$0.06$0.01$0.05