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Nonprofiteer
← SCHMITT ISLAND DEVELOPMENT CORPORATION

Form 990 for tax year 2025

Filed by SCHMITT ISLAND DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,329,120
Total expenses
$1,423,547
Contributions and grants received
$356,319
Grants paid
$0
Program service revenue
$411,187
Investment income
$9,380
Other revenue
$552,234
Total assets, end of year
$733,204
Total liabilities, end of year
$329,716
Net assets or fund balances, end of year
$403,488
Program services expenses (Part IX)
$1,320,138
Management and general expenses
$103,409
Fundraising expenses
$0
Program service expenses (Part III)
$1,320,138

Program services were 92.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $356,319

  • 2a · Program service revenue: HOURLY ICE

    total $345,309 · related or exempt $345,309

  • 2b · Program service revenue: PUBLIC SKATE

    total $52,860 · related or exempt $52,860

  • 2c · Program service revenue: SKATE RENTAL

    total $12,627 · related or exempt $12,627

  • 2d · Program service revenue: PRO SHOP SALES

    total $391 · related or exempt $391

  • 3 · Investment income

    total $9,380 · excluded $9,380

  • 6a · Gross rents

    real property $15,376

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $15,376

  • 6d · Net rental income or loss

    total $15,376 · related or exempt $15,376

  • 10a · Gross sales of inventory

    $678,298

  • 10b · Cost of goods sold

    $238,132

  • 10c · Net income from sales of inventory

    total $440,166 · related or exempt $440,166

  • 11a · Other revenue: OTHER INCOME

    total $96,692 · related or exempt $96,692

  • 11e · Other revenue, total

    $96,692

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $103,400 · management and general $103,400

  • 11g · Fees: other

    total $565,513 · program services $565,513

  • 12 · Advertising and promotion

    total $460 · program services $460

  • 16 · Occupancy

    total $320,592 · program services $320,592

  • 22 · Depreciation, depletion and amortization

    total $65,939 · program services $65,939

  • 23 · Insurance

    total $24,003 · program services $24,003

  • 24a · Other expenses: SAINT FEES

    total $263,894 · program services $263,894

  • 24b · Other expenses: SUPPLIES

    total $42,606 · program services $42,606

  • 24c · Other expenses: MTC AGREEMENT

    total $18,481 · program services $18,481

  • 24d · Other expenses: BANCK CHARGES

    total $15,317 · program services $15,317

  • 24e · All other expenses

    total $3,342 · program services $3,333 · management and general $9

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $236,874 · end of year $238,781

  • 2 · Savings and temporary cash investments

    beginning of year $78,617 · end of year $65,179

  • 4 · Accounts receivable

    beginning of year $68,967 · end of year $39,762

  • 8 · Inventories for sale or use

    beginning of year $30,935 · end of year $22,186

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,867 · end of year $51,975

  • 10a · Land, buildings and equipment: cost or other basis

    $461,586

  • 10b · Land, buildings and equipment: accumulated depreciation

    $150,654

  • 10c · Land, buildings and equipment, net

    beginning of year $366,932 · end of year $310,932

  • 15 · Other assets

    beginning of year $0 · end of year $4,389

  • 17 · Accounts payable and accrued expenses

    beginning of year $137,491 · end of year $145,384

  • 19 · Deferred revenue

    beginning of year $164,786 · end of year $184,332

  • 27 · Net assets without donor restrictions

    beginning of year $419,583 · end of year $338,309

  • 28 · Net assets with donor restrictions

    beginning of year $78,332 · end of year $65,179

Mission and programs · 2025

Mission

MANAGING THE ICE ARENA AND SCHMITT ISLAND ASSETS BENEFITS THE COMMUNITY BY PROVIDING CONSISTENT AND EXPANDED RECREATIONAL OPPORTUNITIES FOR THE COMMUNITY. IN ADDITION, THIS ORGANIZATION LESSENS THE BURDEN OF THE GOVERNMENT'S TIME AND RESOURCES TO MANAGE THE FACILITIES AND ITS PROGRAMS.

  • THE ORGANIZATION AND CONTRACTED ENTITIES OR INDIVIDUALS MANAGE THE ICE ARENA LOCATED ON CHAPLAIN SCHMITT ISLAND IN DUBUQUE, IOWA. THIS ACTIVITY IS FUNDED THROUGH MANAGEMENT FEES PAID BY THE CITY, CONTRIBUTIONS FROM THE GENERAL PUBLIC, AND PROGRAM SERVICE FEES. NINETY-NINE PERCENT OF THE ORGANIZATIONS TIME IS ALLOCATED TO THIS ACTIVITY. NINETY-FIVE PERCENT OF OVERALL EXPENSES ARE INITIALLY ALLOCATED TO THIS ACTIVITY. MANAGEMENT OF THESE FACILITIES BENEFITS THE COMMUNITY BY PROVIDING CONSISTENT AND EXPANDED RECREATIONAL OPPORTUNITIES FOR THE COMMUNITY AND BY LESSENING THE BURDEN OF GOVERNMENT. THE CITY OF DUBUQUE WOULD OTHERWISE SPEND SIGNIFICANT TIME AND RESOURCES TO MANAGE THE FACILITIES AND ITS PROGRAMS.OTHER ACTIVITIES WILL BE CONDUCTED IN THE SAME FASHION AS ABOVE AS ADDITIONAL ASSETS AND VENUES ARE DEVELOPED ON SCHMITT ISLAND. SUCH ACTIVITIES, ASSETS, AND/OR VENUES MAY INCLUDE A WATER SPORTS FACILITY, TRAILS, AND RV PARK.

    Expenses $1,320,138 · Revenue $963,421

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kathy Buhr

    TREASURER

    Total calculated
    $0
    Hours/week
    4.5

  • Sara Hanten

    PRESIDENT/CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Brian Kuhle

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4.5

  • Cayla Schneider

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4.5

  • Denise Udelhofen

    SECRETARY

    Total calculated
    $0
    Hours/week
    4.5

  • Justine Paradiso

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4.5

  • Tommy Lange

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2025
Filed
27 July 2026
IRS schema version
2025v4.2
Source object
202612389349301046

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