Overview
What is Colorado Springs World Arena?
Colorado Springs World Arena is a public facility located at 3185 Venetucci Boulevard, Colorado Springs, CO 80906, serving as a multi-purpose venue for various events. Established with the mission to alleviate the financial burden on the city, this nonprofit organization hosts sports events such as basketball, ice skating, ice hockey, and activities organized by educational institutions and the general public. Additionally, it manages the Pikes Peak Center, a multi-purpose building owned by El Paso County, which hosts cultural, community, and performance arts events. The Colorado Springs World Arena employs a team of 269 individuals to ensure the smooth operation and maintenance of these facilities.
Official website here: www.broadmoorworldarena.com
What are the reviews and ratings of this charity?
**: Charity Navigator Rating 96% (Four-Star out of Four Stars)**tar)**
The Colorado Springs World Arena has achieved a remarkable Four-Star rating on Charity Navigator, primarily due to its outstanding accountability and finance score of 96%. This high rating signifies that the organization adheres to strong financial practices and transparent governance, evidenced by a 100% independent board and a robust whistleblower policy, among other favorable metrics.
The organization effectively utilizes its resources, with an impressive program expense ratio of 91.51%, indicating that a significant majority of its expenditures are directly related to its mission. Furthermore, it has demonstrated no material diversion of assets, ensuring that funds are being appropriately managed and allocated, which is crucial for maintaining donor trust and organizational integrity.
However, user reviews from GreatNonprofits are currently unavailable, which limits insights into individual experiences and perceptions about the organization from the community it serves. Overall, the Colorado Springs World Arena appears to operate efficiently and responsibly based on the available financial data.
This AI summary has been generated from information found on Charity Navigator.
Is Colorado Springs World Arena legitimate?
Colorado Springs World Arena is a legitimate nonprofit organization registered as a 501(c)(3) entity. Colorado Springs World Arena 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: $341,861
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,882,361
For more financial information, click here
Official website here: www.broadmoorworldarena.com
What is the mission statement of Colorado Springs World Arena?
The Colorado Springs World Arena was established with a mission to alleviate the burden on the city by directly managing a multi-purpose public facility. This facility serves as a venue for various events, including sports events such as basketball, ice skating, and ice hockey. Additionally, it hosts activities and events organized by sports organizations, educational institutions, and the general public. In 2004, the Colorado Springs World Arena took over the management of the Pikes Peak Center, a multi-purpose building used for cultural, community, and performance arts events. The organization's role is to plan, design, construct, finance, develop, own, and operate these facilities, providing a versatile space for the city and its residents.
Official website here: www.broadmoorworldarena.com
Who is the CEO of Colorado Springs World Arena?
David Palenchar is the General Manager - Thru 05/22 of Colorado Springs World Arena.
Official website here: www.broadmoorworldarena.com
What is the revenue of Colorado Springs World Arena?
Colorado Springs World Arena's revenue in 2022 was $8,977,422.
Official website here: www.broadmoorworldarena.com
Who are the executives of Colorado Springs World Arena and what are their salaries?
The average compensation at Colorado Springs World Arena during 2022 was $8,268. There are 269 employees and 17 volunteers at Colorado Springs World Arena.
Here are 21 key members and their salaries:
- Compensation: $210,915
- Related: $0
- Other: $18,833
- Compensation: $178,672
- Related: $0
- Other: $30,484
- Compensation: $128,913
- Related: $0
- Other: $7,278
- Compensation: $112,113
- Related: $0
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Official website here: www.broadmoorworldarena.com
Where can I find the form 990 for Colorado Springs World Arena?
Colorado Springs World Arena's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.broadmoorworldarena.com
Learn more at the official website: www.broadmoorworldarena.com
Mission Statement of Colorado Springs World Arena
The Colorado Springs World Arena was established with a mission to alleviate the burdens of the city by directly managing a public facility. This multi-purpose venue hosts a wide array of events, catering to various sports such as basketball, ice skating, and hockey, as well as activities and events organized by sports organizations, educational institutions, and the general public. In 2004, the Colorado Springs World Arena expanded its management responsibilities to include the Pikes Peak Center, a multi-purpose building owned by El Paso County. This additional facility is utilized for cultural, community, and performance arts events. In essence, the Colorado Springs World Arena's mission is to provide a versatile public space for events and activities, aiming to contribute positively to the community.
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Impact
July, 2024
The Colorado Springs World Arena has a significant impact on the community by providing a space for a variety of events, including sporting events like basketball, ice skating, and ice hockey. Additionally, the arena hosts activities and events by sports organizations, educational institutions, and the general public. Its operations and management aim to lessen the burdens on Colorado Springs by offering a multi-purpose public facility that benefits the city and its residents. The arena's strategic location in Colorado Springs, CO, contributes to the local economy and offers cultural and entertainment opportunities for the community.
This information is meant to be a general summary of Colorado Springs World Arena. 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 2022.
- Investment Income: $50,647
- Program Service Revenue: $6,605,923
- Gross Receipts: $8,977,468
Assets and Liabilities:
- Total Assets: $40,388,684
- Total Liabilities: $6,510,657
- Net Assets: $33,878,027
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ARENA REVENUE
Revenue
$3,068,607
ICE HALL REVENUE
Revenue
$1,669,013
PIKES PEAK CENTER REVENUE
Revenue
$1,868,303
Organization Details
Founding Year
1994
Phone
(719) 477-2100Principal Officer
David Palenchar
Main Address
3185 VENETUCCI BOULEVARD, COLORADO SPRINGS, CO, 80906
Website
www.broadmoorworldarena.comNTEE Category
Code: W110 - Public benefit
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