THE FARIBAULT ICE ARENA ASSOCIATION (EIN 411822463) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1995

Legal Domicile

Principal Officer

PAUL FROMAN

Phone

5073320372

Tax Period

2023-07-01 to 2024-06-30

THE FARIBAULT ICE ARENA ASSOCIATION, founded in 1995, is a small nonprofit in the Recreation & Sports sector that reported $638K in total revenue in fiscal year 2023. Revenue surged 173% from the prior year, signaling strong growth momentum. The organization ran a surplus of $396K, a strong 62% operating margin.

Mission

OPERATION OF ICE ARENA TO PROMOTE AMATEUR ICE-RELATED SPORTS AND OTHER ORGANIZED ATHLETIC PROGRAMS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $412,787

Program Service Revenue $215,777

Investment Income $878

Other Revenue $8,677

TOTAL REVENUE $638,119

Expense Breakdown

Grants Paid $0

Salaries & Benefits $71,021

Fundraising Expenses $0

Program Expenses $196,763

Other Expenses $170,909

TOTAL EXPENSES $241,930

Year-over-Year Comparison

	2023	2022	Change
Revenue	$638,119	$233,841	+1.7%
Expenses	$241,930	$299,848	-0.2%
Net Income	$396,189	$-66,007	-7.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$44,974

Total Directors

$44,974

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEITH BADGER	DIRECTOR	1.00	Director	$0	$0	$0
KAIN SMITH	TREASURER	1.00	Director	$0	$0	$0
KEVIN VORACEK	DIRECTOR	1.00	Director	$0	$0	$0
PAUL PEANASKY	DIRECTOR	1.00	Director	$0	$0	$0
PETER VAN SLUIS	DIRECTOR	1.00	Director	$0	$0	$0
PAUL FROMAN	PRESIDENT	10.00	Officer Director	$40,380	$0	$40,380
JEFF NEHER	VICE PRESIDENT	1.00	Officer Director	$4,594	$0	$4,594
ALEX SCHMITZ	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN KLEINER	SECRETARY	1.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$638,119	$241,930	$1,714,391	$396,189
2023	$233,841	$299,848	$1,129,905	$-66,007
2022	$292,268	$256,580	$1,195,115	$35,688
2021	$190,237	$239,109	$1,163,564	$-48,872
2020	$222,318	$235,543	$1,208,550	$-13,225
2019	$225,179	$244,566	$1,223,493	$-19,387

THE FARIBAULT ICE ARENA ASSOCIATION