BEMIDJI COMMUNITY ARENA CORPORATION

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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

2024-05-01 to 2025-04-30

BEMIDJI COMMUNITY ARENA CORPORATION, founded in 2017, is a small nonprofit in the Recreation & Sports sector that reported $848K in total revenue in fiscal year 2024. Expenses of $955K exceeded revenue, resulting in a 13% operating deficit.

Mission

PROVIDING A SAFE AND CONVENIENT PLACE FOR THE COMMUNITY TO ENJOY HOCKEY AND ICE SKATING.

Program Service Accomplishments

Program 1

Expenses: $941,910 Revenue: $575,454

ICE TIME PROVIDED TO SKATERS AND HOCKEY PLAYERS FROM YOUTH ORGANIZATIONS, HIGH SCHOOL, AND SENIOR RECREATIONAL LEAGUES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $154,097

Program Service Revenue $575,454

Investment Income $1,446

Other Revenue $116,811

TOTAL REVENUE $847,808

Expense Breakdown

Grants Paid $0

Salaries & Benefits $209,784

Fundraising Expenses $0

Program Expenses $941,910

Other Expenses $745,479

TOTAL EXPENSES $955,263

Year-over-Year Comparison

	2024	2023	Change
Revenue	$847,808	$823,364	+0.0%
Expenses	$955,263	$1,030,762	-0.1%
Net Income	$-107,455	$-207,398	-0.5%

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
BRENT BENTFIELD	BOARD MEMBER	5.00	Director	$0	$0	$0
JIM DEWAR	BOARD MEMBER	5.00	Director	$0	$0	$0
COURTNEY AITKEN GIFFORD	SECRETARY	5.00	Officer Director	$0	$0	$0
LEISHA GREGG	VICE PRESIDE	5.00	Officer Director	$0	$0	$0
MARCIA LARSON	BOARD MEMBER	5.00	Director	$0	$0	$0
CHRIS ST PETER	BOARD MEMBER	5.00	Director	$0	$0	$0
JAKE REIERSON	TREASURER	5.00	Officer Director	$0	$0	$0
BEN WANGBERG	PRESIDENT	5.00	Officer Director	$0	$0	$0
DONNY WILCOX	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
2025	$847,808	$955,263	$6,615,910	$-107,455
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