Overview
What is Lake Of The Woods International Arena Board Inc?
Lake of the Woods International Arena Board Inc is a nonprofit organization dedicated to constructing and operating a public ice arena for the benefit of the community, particularly youth, residing in Lake of the Woods county and its surrounding areas. Their primary mission is to establish and maintain a community ice arena facility, providing a hub for recreational activities and fostering a sense of camaraderie among local residents.
Official website here: www.lwarena.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Star rating)
Lake Of The Woods International Arena Board Inc has earned a 76% rating, reflecting a Three-Star designation primarily based on its accountability and financial practices. The organization demonstrates strong governance with a fully independent board and no material diversion of assets, indicating sound financial management. Their program expense ratio is notably high at 98.84%, suggesting that they utilize most of their funding directly for their programs.
However, there are areas for improvement, particularly related to governance policies. The organization currently lacks critical policies such as a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which have resulted in lower scores in these categories. Addressing these gaps could enhance their accountability and transparency.
Overall, while the Lake Of The Woods International Arena Board Inc shows strong fiscal responsibility and governance through its independent board and high program spending, implementing essential policies could further strengthen their operational integrity and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Of The Woods International Arena Board Inc legitimate?
Lake Of The Woods International Arena Board Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Of The Woods International Arena Board 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lwarena.com
What is the mission statement of Lake Of The Woods International Arena Board Inc?
The Lake of the Woods International Arena Board Inc's mission is centered around constructing and operating a community ice arena facility. This facility is primarily intended for the benefit of the residents, with a particular focus on the youth, in Lake of the Woods County and its surrounding areas. The organization's goal is to provide a public space where these individuals can engage in ice-related activities, fostering community bonding and youth development.
Official website here: www.lwarena.com
What is the revenue of Lake Of The Woods International Arena Board Inc?
Lake Of The Woods International Arena Board Inc's revenue in 2023 was $70,369.
Official website here: www.lwarena.com
Who are the executives of Lake Of The Woods International Arena Board Inc and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.lwarena.com
Where can I find the form 990 for Lake Of The Woods International Arena Board Inc?
Lake Of The Woods International Arena Board Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lwarena.com
Learn more at the official website: www.lwarena.com
Mission Statement of Lake Of The Woods International Arena Board Inc
Lake of the Woods International Arena Board Inc, a nonprofit organization, is dedicated to constructing and operating a public ice arena for the benefit of the residents, particularly the youth, in Lake of the Woods County and surrounding areas. Their mission is to establish and manage a community ice arena facility that caters to the local population, fostering a sense of camaraderie and encouraging participation in ice-related activities. By constructing and operating this public ice arena, the organization aims to provide a recreational space that encourages community engagement, promotes physical fitness, and offers an enjoyable pastime for the youth in the area.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
August, 2024
Lake Of The Woods International Arena Board Inc's impact lies in the construction and operation of a public ice arena to serve the residents, especially the youth, of Lake of the Woods County and surrounding areas. By providing a dedicated space for ice-related activities, the organization creates opportunities for the community to engage in ice sports, recreational activities, and events. This enhances the quality of life for residents by offering a unique recreational outlet and fostering a sense of community spirit. The arena serves as a hub for social gatherings, sports competitions, and youth development programs, contributing to the overall well-being and vitality of the region. Through its mission of constructing and operating a community ice arena facility, Lake Of The Woods International Arena Board Inc plays a vital role in promoting recreation and enhancing the local community's social and physical health.
This information is meant to be a general summary of Lake Of The Woods International Arena Board 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 2023.
- Investment Income: $1,002
- Gross Receipts: $70,369
Assets and Liabilities:
- Total Assets: $7,442,893
- Total Liabilities: $405,397
- Net Assets: $7,037,496
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2014
Principal Officer
Mike Schulz
Website
www.lwarena.comNTEE Category
Code: N99 - Recreation
If you are a representative of Lake Of The Woods International Arena Board Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.