Overview
What is Lockport Ice Arena & Sports Center Inc?
Lockport Ice Arena & Sports Center Inc, operating under the name Cornerstone CFCU Arena, is a nonprofit organization located at 1 Grigg Lewis Way, Lockport, New York 14094. The primary focus of this organization is to combat juvenile delinquency and community deterioration by conducting supervised athletic games. They achieve this goal through the operation of a public skating rink and sports center. With a dedicated workforce of 32 employees, the arena provides a space for various athletic activities, contributing positively to the local community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82%, Three-Star out of Four Stars
Lockport Ice Arena & Sports Center Inc has received a solid Three-Star rating from Charity Navigator, reflecting its overall performance in accountability and finance. An Accountability & Finance Score of 83 indicates strong financial management practices, while a high Program Expense Ratio of 92.71% shows that a significant portion of its expenditures is directed toward its programs, rather than administrative costs.
The organization boasts a fully independent board of directors, with 100% of its members meeting independence criteria, which contributes to a robust governance structure. Additionally, Lockport Ice Arena has implemented several key policies, including conflict of interest and whistleblower protections, demonstrating a commitment to ethical standards and transparency.
However, the organization does have a Liabilities to Assets Ratio of 65.23%, which is a point of concern as it suggests a relatively high level of liabilities compared to its assets. While it still maintains a strong financial position, addressing this area could enhance its overall financial health and stability in the long term.
This AI summary has been generated from information found on Charity Navigator.
Is Lockport Ice Arena & Sports Center Inc legitimate?
Lockport Ice Arena & Sports Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lockport Ice Arena & Sports Center Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $83,655
Professional Fundraising Fees: $0
Other Salaries and Wages: $401,166
For more financial information, click here
What is the mission statement of Lockport Ice Arena & Sports Center Inc?
The Lockport Ice Arena & Sports Center Inc is dedicated to combating juvenile delinquency and community deterioration. They achieve this goal by organizing supervised athletic games within a public skating rink and sports center setting. By providing a safe and engaging environment for youth, the arena aims to positively influence their behavior and contribute to the betterment of the community. The entity's primary activity involves operating a public skating rink and sports center, offering a venue for various athletic activities.
What is the revenue of Lockport Ice Arena & Sports Center Inc?
Lockport Ice Arena & Sports Center Inc's revenue in 2024 was $1,166,917.
Who are the executives of Lockport Ice Arena & Sports Center Inc and what are their salaries?
The average compensation at Lockport Ice Arena & Sports Center Inc during 2024 was $13,852. There are 35 employees and 40 volunteers at Lockport Ice Arena & Sports Center Inc.
Here are 8 key members and their salaries:
- Compensation: $83,655
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Where can I find the form 990 for Lockport Ice Arena & Sports Center Inc?
Lockport Ice Arena & Sports Center Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Lockport Ice Arena & Sports Center Inc
Lockport Ice Arena & Sports Center Inc is dedicated to combating juvenile delinquency and community deterioration in a unique way. Their mission revolves around conducting supervised athletic games, achieved through the operation of a public skating rink and sports center. By providing a controlled environment for sports activities, the organization aims to engage young individuals in positive and constructive pursuits, potentially diverting them away from potential delinquent behaviors. This approach not only contributes to the betterment of the community but also helps promote a healthier and more engaged youth population.
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Impact
October, 2024
Lockport Ice Arena & Sports Center Inc has a significant impact on the community by providing a dedicated space for supervised athletic activities, promoting healthy lifestyles, and fostering teamwork among participants. By operating a public skating rink and sports center, it actively combats juvenile delinquency and community deterioration, offering a positive environment for youth engagement. The facility serves as a hub for recreational activities, bringing together families and individuals from Lockport and surrounding areas. By encouraging participation in sports and physical activities, it helps instill discipline, build social skills, and create a sense of belonging, thereby contributing to the overall well-being of the community. The center not only enhances local recreational opportunities but also plays a vital role in strengthening community bonds through shared experiences in sports and recreation.
This information is meant to be a general summary of Lockport Ice Arena & Sports Center Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $2,498
- Program Service Revenue: $1,142,680
- Gross Receipts: $1,216,292
Assets and Liabilities:
- Total Assets: $12,543,372
- Total Liabilities: $8,184,129
- Net Assets: $4,359,243
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ARENA REVENUE
Revenue
$1,104,797
EVENT INCOME
Revenue
$37,883
Organization Details
Founding Year
2008
Principal Officer
Drew Dunlap
NTEE Category
Code: N60 - Recreation
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