BEMIDJI COMMUNITY ARENA CORPORATION (EIN 813622011) - 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

2017

Legal Domicile

Principal Officer

BEN WANGBERG

Phone

2184445661

Tax Period

2023-05-01 to 2024-04-30

BEMIDJI COMMUNITY ARENA CORPORATION, founded in 2017, is a small nonprofit in the Recreation & Sports sector that reported $823K in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $1.0M exceeded revenue, resulting in a 25% operating deficit.

Mission

BEMIDJI COMMUNITY ARENA CORPORATION (THE ORGANIZATION) IS A MINNESOTA NONPROFIT CORPORATION WITH A MISSION TO PROVIDE A SAFE AND CONVENIENT PLACE FOR ALL TYPES OF HOCKEY FOR THE COMMUNITY RANGING FROM THE YOUTH TO SENIORS.

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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 $185,205

Program Service Revenue $506,778

Investment Income $1,073

Other Revenue $130,308

TOTAL REVENUE $823,364

Expense Breakdown

Grants Paid $0

Salaries & Benefits $200,120

Fundraising Expenses $0

Program Expenses $1,019,413

Other Expenses $830,642

TOTAL EXPENSES $1,030,762

Year-over-Year Comparison

	2023	2022	Change
Revenue	$823,364	$941,077	-0.1%
Expenses	$1,030,762	$859,349	+0.2%
Net Income	$-207,398	$81,728	-3.5%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEISHA GREGG	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
COURTNEY AITKEN GIFFORD	SECRETARY	5.00	Officer Director	$0	$0	$0
JAKE REIERSON	TREASURER	5.00	Officer Director	$0	$0	$0
JIM DEWAR	BOARD MEMBER	5.00	Director	$0	$0	$0
BEN WANGBERG	PRESIDENT	5.00	Director	$0	$0	$0
BRUCE BENTFIELD	BOARD MEMBER	5.00	Director	$0	$0	$0
MARCIA LARSON	BOARD MEMBER	5.00	Director	$0	$0	$0
DONNY WILCOX	BOARD MEMBER	5.00	Director	$0	$0	$0
BRAD NEIS	BOARD MEMBER	5.00	Director	$0	$0	$0
TRAVIS REIERSON	BOARD MEMBER	5.00	Director	$0	$0	$0
TROY STRASSBURG	BOARD MEMBER	5.00	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
2024	$823,364	$1,022,120	$6,874,851	$-198,756
2024	$823,364	$1,030,762	$6,874,851	$-207,398
2023	$941,077	$859,349	$7,159,201	$81,728
2022	$739,919	$716,285	$7,324,371	$23,634
2021	$1,216,863	$508,709	$8,016,806	$708,154
2020	$931,847	$407,424	$6,379,386	$524,423
2019	$2,519,325	$315,966	$5,474,987	$2,203,359

BEMIDJI COMMUNITY ARENA CORPORATION