Arenaco

Analysis

Arenaco is a registered charity in United States, based in Coralville, IA. It received its IRS tax-exemption ruling in March 2018, 8 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Arenaco reported income of $4.1m and spending of $5.8m, spending 140% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $24.2m to $4.1m (-83%), an average of -30% a year. The sharpest change came in the year to June 2021, when income rose by 2824%. Over the whole period it spent 52% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Arenaco sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within IA. Charities of a similar size with the same main cause include American Baseball Coaches ($4.1m), Austin County Fair Association Inc ($4.1m) and Southwest Florida and Lee County Fair Assoc Inc ($4.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 24% and program service revenue 75% of the total. At year end it held assets of $75.1m against liabilities of $54.3m, net assets of $20.7m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.