Arenaco

Nonprofit profile at a glance

EIN
814968896
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
Coralville, IA, USA
Phone
3192481700
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Physical Fitness and Community Recreational Facilities

Official website

Reported finances

Revenue
$5,925,123
Expenses
$7,498,873
Assets
$71,733,704
Liabilities
$52,583,016

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • JOSH SCHAMBERGER (PRESIDENT)
  • TERESA KAEDING (VICE PRESIDENT)

People named in this filing

  • JOSH SCHAMBERGER (PRESIDENT)
  • TERESA KAEDING (VICE PRESIDENT)
  • LAURIE GOODRICH (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support and operate for the benefit of the city of coralville, Iowa; to lessen the burdens imposed upon the governments 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

What it reported doing in 2024

Operation of the xtreamarena powered by mediacom, greenstate family fieldhouse, and the rink at coral ridge. The 5,100 fixed seat xtream arena (6,600 concert capacity) serves as host home for university of Iowa volleyball and the Iowa heartlanders echl hockey tenant. The 30,000 sq. Ft 5-court fieldhouse enables this community to become a signature attractor of both amateur and professional sporting events. Since 1998, the rink at coral ridge has given guests of all ages the chance to experience a variety of on-ice activities. Over 150 events were held at the arena and fieldhouse during the year for combined usage of over 200 days. The ice rink is open daily for public skating admissions.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 41
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.9%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -26.6%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 9.57; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.73; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 30.8% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: -9.8% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 16.2% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $7.4M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Highest-paid contractors: 1 contractor listed · $119K reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.