COLORADO SPRINGS WORLD ARENA

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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

1994

Legal Domicile

Phone

7194772100

Tax Period

2024-01-01 to 2024-12-31

COLORADO SPRINGS WORLD ARENA, founded in 1994, is a community nonprofit in the Public & Societal Benefit sector that reported $8.1M in total revenue in fiscal year 2024. Expenses of $7.2M left a modest 10% surplus.

Mission

THE COLORADO SPRINGS WORLD ARENA WAS ORGANIZED TO LESSEN THE BURDENS OF THE CITY OF COLORADO SPRINGS FOR THE PLANNING, DESIGN, CONSTRUCTION, FINANCING, DEVELOPMENT, OWNERSHIP AND OPERATION OF A MULTI-PURPOSE PUBLIC FACILITY THAT COULD BE USED FOR A VARIETY OF SPORTING EVENTS, INCLUDING BASKETBALL, ICE SKATING, ICE HOCKEY AND OTHER ACTIVITIES AND EVENTS HELD BY SPORTS ORGANIZATIONS, EDUCATIONAL INSTITUTIONS AND THE GENERAL PUBLIC. IN 2004, THE COLORADO SPRINGS WORLD ARENA ASSUMED MANAGEMENT OF THE PIKES PEAK CENTER, WHICH IS A MULTI-PURPOSE BUILDING OWNED BY EL PASO COUNTY AND USED FOR CULTURAL, COMMUNITY AND PERFORMANCE ARTS EVENTS

Program Service Accomplishments

Program 1

Expenses: $5,672,806 Revenue: $4,948,807

OPERATION AND MAINTENANCE OF THE COLORADO SPRINGS WORLD ARENA AND ICE HALL.

Program 2

Expenses: $1,309,602 Revenue: $2,526,131

OPERATION AND MAINTENANCE OF THE PIKES PEAK CENTER.

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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 $8,100

Program Service Revenue $7,474,938

Investment Income $569,647

Other Revenue $0

TOTAL REVENUE $8,052,685

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,298,731

Fundraising Expenses $18,801

Program Expenses $6,982,408

Other Expenses $3,939,769

TOTAL EXPENSES $7,238,500

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,052,685	$7,730,570	+0.0%
Expenses	$7,238,500	$7,741,518	-0.1%
Net Income	$814,185	$-10,948	-75.4%

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

242

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

$339,144

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELAINE MARTINEZ	TREASURER	1.0	Officer Director	$0	$0	$0
NICOLE MAGIC	SECRETARY	1.0	Officer Director	$0	$0	$0
PETER SUSEMIHL	CHAIRMAN	1.0	Officer Director	$0	$0	$0
R THAYER TUTT JR	ASSISTANT TREASURER	1.0	Officer Director	$0	$0	$0
ARON MCGUIRE	DIRECTOR	1.0	Director	$0	$0	$0
CRYSTAL LATIER	DIRECTOR	1.0	Director	$0	$0	$0
ERIN HANNAN	DIRECTOR	1.0	Director	$0	$0	$0
IAN RATZ	DIRECTOR	1.0	Director	$0	$0	$0
JACK DAMIOLI	DIRECTOR	1.0	Director	$0	$0	$0
MEGAN LEATHAM	DIRECTOR	1.0	Director	$0	$0	$0
PAT KELLEHER	DIRECTOR	1.0	Director	$0	$0	$0
SUSAN EDMONSON	DIRECTOR	1.0	Director	$0	$0	$0
THEO GREGORY	DIRECTOR	1.0	Director	$0	$0	$0
TOM FALGIEN	DIRECTOR	1.0	Director	$0	$0	$0
DAVE NAMESNIK	GENERAL MANAGER	65.0	Key Emp	$279,847	$59,297	$339,144
Cindy Perkins	Director Of Finance	40.0	Highest	$116,936	$1,823	$118,759
TUESDAY HESLOP	ASSISTANT GENERAL MANAGER	60.0	Highest	$195,970	$30,399	$226,369

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	$8,052,685	$7,238,500	$41,292,155	$814,185
2023	$7,730,570	$7,741,518	$43,344,875	$-10,948
2022	$8,977,422	$7,710,578	$40,388,684	$1,266,844
2021	$11,395,620	$5,875,220	$38,482,330	$5,520,400
2020	$2,215,695	$5,160,206	$31,578,103	$-2,944,511
2019	$5,817,365	$7,180,461	$35,624,531	$-1,363,096
2018	$5,755,085	$7,202,715	$37,832,094	$-1,447,630