ARENACO

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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

JOSH SCHAMBERGER

Phone

3192481700

Tax Period

2023-07-01 to 2024-06-30

ARENACO, founded in 2017, is a community nonprofit in the Recreation & Sports sector that reported $4.1M in total revenue in fiscal year 2023. Expenses of $5.8M exceeded revenue, resulting in a 40% operating deficit.

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

Program Service Accomplishments

Program 1

Expenses: $5,561,098 Revenue: $3,124,572

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...

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 100 EVENTS WERE HELD AT THE ARENA AND FIELDHOUSE DURING THE YEAR FOR COMBINED USAGE OF OVER 175 DAYS. THE ICE RINK IS OPEN DAILY FOR PUBLIC SKATING ADMISSIONS.

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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 $1,007,208

Program Service Revenue $3,112,258

Investment Income $5,619

Other Revenue $12,314

TOTAL REVENUE $4,137,399

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $5,561,098

Other Expenses $5,803,184

TOTAL EXPENSES $5,803,184

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,137,399	$3,989,916	+0.0%
Expenses	$5,803,184	$6,172,756	-0.1%
Net Income	$-1,665,785	$-2,182,840	-0.2%

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

N/A

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
JOSH SCHAMBERGER	PRESIDENT	10.00	Officer Director	$0	$0	$0
TERESA KAEDING	VICE PRESIDENT	10.00	Officer Director	$0	$0	$0
LAURIE GOODRICH	TREASURER	0.25	Officer Director	$0	$0	$0
JOHN WEIHE	SECRETARY	0.25	Officer Director	$0	$0	$0
KELLY HAYWORTH	DIRECTOR	0.25	Director	$0	$0	$0
SARAH MCLAUGHLIN	DIRECTOR	0.25	Director	$0	$0	$0
BOB DVORSKY	DIRECTOR	0.25	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	$4,137,399	$5,803,184	$75,067,981	$-1,665,785
2023	$3,989,916	$6,172,756	$67,033,766	$-2,182,840
2022	$4,234,031	$8,534,385	$69,116,160	$-4,300,354
2021	$16,199,613	$6,466,183	$71,577,152	$9,733,430
2020	$554,050	$750,385	$45,872,582	$-196,335
2019	$24,161,086	$158,008	$38,298,420	$24,003,078