2022-10-31T12:03:33-05:00 2021-12-31 FORVIS LLP 111 South Tejon Suite 800 Colorado Springs CO 809039848 990 2021-01-01 841264465 COLORADO SPRINGS WORLD ARENA % COLORADO SPRINGS WORLD ARENA COLO 7194772100 3185 VENETUCCI BOULEVARD COLORADO SPRINGS CO 80906 DAVID PALENCHAR PRESIDENT 7194772100 2022-11-15 true David Palenchar 999009999 ADAM R SMITH CPA P00958966 7194714290 2 2021 2022-09-23 18:48:47Z DAVID PALENCHAR 3185 VENETUCCI BOULEVARD COLORADO SPRINGS CO 80906 11431330 false X WWW.BROADMOORWORLDARENA.COM X 1994 CO TO LESSEN THE BURDENS ON COLORADO SPRINGS BY DIRECTLY OPERATING A PUBLIC FACILITY THAT IS USED FOR A VARIETY OF EVENTS PLUS MANAGE THE PIKES PEAK CENTER FOR EL PASO COUNTY. 17 17 241 17 0 108710 6681929 2074046 4294294 32939 8620 0 410777 2215695 11395620 16010 0 0 0 1695840 2286438 0 0 18701 3448356 3588782 5160206 5875220 -2944511 5520400 31578103 38482330 4419323 5813814 27158780 32668516 X 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. false false 4450797 3773705 OPERATION AND MAINTENANCE OF THE COLORADO SPRINGS WORLD ARENA AND ICE HALL 936456 931366 OPERATION AND MAINTENANCE OF THE PIKES PEAK CENTER. 5387253 true true false false false false false false false true true false false false true false true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false true 45 0 241 true false false false false false false false false false false false false X 17 17 true false false false false false false true true false false true true true true true true false true false X COLORADO SPRINGS WORLD ARENA 7194772100 3185 VENETUCCI BLVD COLORADO SPRINGS CO 80906 X DOROTHEA LISCHICK GENERAL MANAGER 65.0 0.0 X 225534 0 23042 TUESDAY HESLOP ASSISTANT GENERAL MANAGER 60.0 0.0 X 162611 0 32963 ARON MCGUIRE DIRECTOR 1.0 0.0 X 0 0 0 DAVID PALENCHAR PRESIDENT 5.0 0.0 X X 0 0 0 GARY BUTTERWORTH DIRECTOR 1.0 0.0 X 0 0 0 IAN RATZ DIRECTOR 1.0 0.0 X 0 0 0 JACK DAMIOLI DIRECTOR 1.0 0.0 X 0 0 0 LOU MELLINI DIRECTOR 1.0 0.0 X 0 0 0 NICOLE MAGIC SECRETARY 1.0 0.0 X X 0 0 0 PETER SUSEMIHI CHAIRMAN 1.0 0.0 X X 0 0 0 R THAYER TUTT JR ASSISTANT TREASURER 1.0 0.0 X X 0 0 0 THEO GREGORY DIRECTOR 1.0 0.0 X 0 0 0 SUSAN EDMONSON DIRECTOR 1.0 0.0 X 0 0 0 ELAINE MARTINEZ TREASURER 1.0 0.0 X X 0 0 0 TOM FALGIEN DIRECTOR 1.0 0.0 X 0 0 0 MEGAN LEATHAM DIRECTOR 1.0 0.0 X 0 0 0 PAT KELLEHER DIRECTOR 1.0 0.0 X 0 0 0 CRYSTAL LA TIER DIRECTOR 1.0 0.0 X 0 0 0 ERIN HANNAN DIRECTOR 1.0 0.0 X 0 0 0 388145 0 56005 2 false true false TAMMY GAMBILL 57 PENROSE BLVD COLORADO SPRINGS CO 80906 COACH SKATING 168884 RYAN JAHNKE J-EDGE LLC 2702 W PIKES PEAK AVE COLORADO SPRINGS CO 80904 COACH SKATING 161439 LLONA MELNICHENKO 1632 DERBYSHIRE STREET COLORADO SPRINGS CO 80910 COACH SKATING 141664 ERIK SCHULZ 1213 MORNING STAR DRIVE COLORADO SPRINGS CO 80905 COACH SKATING 162836 4 6671929 10000 6681929 Arena Revenue 900099 1893350 1893350 Ice Hall Revenue 900099 1550891 1550891 Pikes Peak Center Revenue 900099 850053 850053 4294294 8578 8578 0 0 0 0 0 35752 35710 42 42 42 0 0 0 0 0 0 0 0 0 SETTLEMENT INCOME 900099 410777 410777 410777 11395620 4705071 8620 0 0 0 0 248576 166546 82030 0 1541316 1365826 164912 10578 53567 53567 270636 249754 20138 744 172343 159045 12824 474 0 2631 2631 39325 39325 0 0 0 198841 196268 2573 34033 1309 32724 98189 57300 40889 0 0 1167892 1160498 7394 2410 2410 0 2151 2151 0 0 1779474 1730715 48759 0 REPAIRS & MAINTENANCE 221728 220317 1411 LICENSES AND PERMITS 8600 8600 PENROSE CLUB EXPENSE 6905 6905 DUES & SUBSCRIPTIONS 30193 16057 14136 -3590 -3590 5875220 5387253 469266 18701 1713634 8673600 2060 198026 0 0 635503 1065842 0 0 0 0 0 0 0 0 96827 219514 73428978 48449166 26466533 24979812 2663546 3345536 0 0 0 0 0 0 0 0 31578103 38482330 594070 1795570 0 0 3099201 3776274 0 0 0 0 0 0 0 0 0 0 726052 241970 4419323 5813814 X 27017347 32517083 141433 151433 27158780 32668516 31578103 38482330 5520400 -10664 X false true X true true true X 59482 101183 68077 108710 6681929 7019381 5363376 5583618 5688328 2074046 4294294 23003662 0 0 577197 577197 577197 577197 577197 2885985 6000055 6261998 6333602 2759953 11553420 32909028 21840 7000 0 0 28840 3896017 4991388 951116 1114650 10953171 21840 3903017 4991388 951116 1114650 10982011 21927017 51279 68758 61852 32044 8578 222511 0 51279 68758 61852 32044 8578 222511 0 95600 95600 6146934 6330756 6395454 2791997 11561998 33227139 0.65991 0.57225 0.00670 0.00929 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 141433 10000 151433 83542 57891 141433 101913 69594 87965 83542 172997 101183 172267 101913 257966 59482 144451 172997 1.00000 false false 2749617 2749617 52047970 31069525 20978445 6100632 5252988 847644 7738091 7345614 392477 4792668 4781039 11629 24979812 0 DEPOSITS 241970 241970 11962153 -10664 577197 566533 11395620 11395620 6452417 577197 577197 5875220 5875220 SCHEDULE D, PART V, LINE 4 DESCRIBE THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS: THE ORGANIZATION'S ENDOWMENT FUNDS ARE DESIGNATED FOR TIME AND PURPOSE. THE INTENDED USES OF THE ORGANIZATIONS ENDOWMENT FUNDS INCLUDE THE YOUTH AND COMMUNITY FUND, LEARN-TO-SKATE AND HOCKEY WORKSHOP, INTERNSHIPS AND OTHERS. SCHEDULE D, PART X, LINE 2 UNCERTAIN TAX POSITIONS: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. X X X false false false false false true false true false TUESDAY HESLOP ASSISTANT GENERAL MANAGER 160864 1747 9200 23763 195574 DOROTHEA LISCHICK GENERAL MANAGER 223059 2475 13593 9449 248576 SCHEDULE J, PART I, LINE 6A THE COMPANY HAS A PROFIT SHARING PROGRAM. A FORMULA IS USED TO DETERMINE WHAT THE PROFIT SHARING WILL BE IN A GIVEN YEAR. FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIPS: LOU MELLINI, GARY BUTTERWORTH, THEOPHILUS GREGORY, R. THAYER TUTT, JR., NICOLE MAGIC, AND ELAINE MARTINEZ HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B PROCESS TO REVIEW THE FORM 990: THE FORM 990 IS REVIEWED INTERNALLY BY THE BUSINESS MANAGER, ASSISTANT GENERAL MANAGER, TREASURER AND PRESIDENT OF THE BOARD. NEXT, THE RETURN IS PRESENTED TO AND REVIEWED BY THE FINANCE COMMITTEE WHERE THEY RECOMMEND FILING THE FORM 990 WITH THE IRS. A COPY OF THE FINAL FORM 990 IS MADE AVAILABLE TO THE ENTIRE BOARD FOR REVIEW PRIOR TO THE RETURN BEING FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C PROCESS FOR MONITORING COMPLIANCE WITH CONFLICT OF INTEREST POLICY: BOARD MEMBERS COMPLETE A CONFLICT OF INTEREST FORM ANNUALLY TO DISCLOSE POTENTIAL CONFLICTS. BOARD MEMBERS ARE EXCLUDED FROM THE APPROVAL PROCESS WHEN CONFLICTS OF INTEREST ARISE. FINANCE AND MANAGEMENT MONITOR TRANSACTIONS THROUGHOUT THE YEAR FOR POTENTIAL CONFLICTS OF INTEREST. IF A CONFLICT WERE TO BE IDENTIFIED, IT WOULD BE TAKEN TO THE BOARD FOR REVIEW AND, IF APPROPRIATE, APPROVAL BY THE INDEPENDENT MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A REVIEW OF CEO COMPENSATION: FORM 990, PART VI, LINE 15A SPECIFICALLY ASKS FOR THE PROCESS TO DETERMINE COMPENSATION FOR THE ORGANIZATION'S CEO. BECAUSE THE PRESIDENT/CEO OF THE ORGANIZATION IS A NON-COMPENSATED POSITION, COLORADO SPRINGS WORLD ARENA HAS ANSWERED THIS QUESTION AS NO. FORM 990, PART VI, SECTION B, LINE 15B REVIEW OF KEY EMPLOYEE COMPENSATION: COMPENSATION IS REVIEWED ANNUALLY BY THE FINANCE COMMITTEE AND THE BOARD OF DIRECTORS. LAST REVIEW WAS PERFORMED IN 2022 WHEN HIRING THE NEW GENERAL MANAGER. THE FINANCE COMMITTEE REVIEWED SALARIES OF COMPARABLE VENUES AS SET FORTH IN THE IAVM COMPLEX MANAGEMENT SALARY REPORT. A THREE STEP PROCEDURE IS FOLLOWED FOR THE REVIEW OF COMPENSATION AND ALL DECISIONS ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC: THE ORGANIZATION'S ARTICLES OF INCORPORATION ARE AVAILABLE ON THE COLORADO SECRETARY OF STATE'S WEBSITE. NO OTHER DOCUMENTS UNLESS REQUIRED BY LAW, INCLUDING ANY THAT WERE PREVIOUSLY AVAILABLE, ARE AVAILABLE TO THE PUBLIC.