2024-12-17T09:56:52-06:00 2024-01-31 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2023-02-01 863390659 NORRIS PENROSE LEGACY FOUNDATION NORR 7196351101 1045 LOWER GOLD CAMP ROAD COLORADO SPRINGS CO 80905 RICHARD POWELL TREASURER 7196351101 2024-12-16 1 1 SARAH HINTZ P00492291 3037795710 2024-12-16 2023 2024-10-15 13:58:12Z MICHAEL JORGENSEN 1045 LOWER GOLD CAMP ROAD COLORADO SPRINGS CO 80905 7952246 0 X WWW.NORRISPENROSE.COM X 2021 CO TO ACQUIRE AND CONTINUE THE OPERATION, MAINTENANCE, AND CAPITAL IMPROVEMENTS OF NORRIS PENROSE EVENT CENTER (NPEC), SO AS TO CONTINUE THE LESSENING OF THE BURDEN OF ANY LOCAL GOVERNMENT TO FINANCIALLY SUPPORT THE COMMUNITY EVENTS HELD AT NPEC. 17 17 26 17 16887 12989 84225 6559419 0 1141516 68 6925 16006 207773 100299 7915633 71974 3759846 0 0 0 506174 0 0 0 10683 1033002 82657 5299022 17642 2616611 94433 7381121 72274 4732561 22159 2648560 TO ACQUIRE AND CONTINUE THE OPERATION, MAINTENANCE, AND CAPITAL IMPROVEMENTS OF NORRIS PENROSE EVENT CENTER (NPEC), SO AS TO CONTINUE THE LESSENING OF THE BURDEN OF ANY LOCAL GOVERNMENT TO FINANCIALLY SUPPORT THE COMMUNITY EVENTS HELD AT NPEC. 0 0 4123449 3759846 1135923 THE PURPOSE OF THE CORPORATION IS TO ACQUIRE AND CONTINUE THE OPERATION, MAINTENANCE, AND CAPITAL IMPROVEMENTS OF NPEC, SO AS TO CONTINUE THE LESSENING OF THE BURDEN OF ANY LOCAL GOVERNMENT TO FINANCIALLY SUPPORT THE COMMUNITY EVENTS HELD AT NPEC. THESE EVENTS NOT ONLY INCLUDE THE RODEOS, BUT ALSO INCLUDE THE HOLDING OF CONVENTIONS, COMMUNITY FAIRS AND EXPOS, MOTOCROSS EVENTS, CONCERTS, CHARITABLE FUNDRAISING EVENTS, INCLUDING CHARITABLE GALAS, AND OTHER COMMUNITY EVENTS. IN ADDITION, NPEC SERVES AS AN EQUESTRIAN RIDING AND BOARDING FACILITY, WHICH INCLUDES THE OPERATION OF A NON-PROFIT THERAPEUTIC RIDING CENTER THAT SERVES THE PIKES PEAK COMMUNITY. 4123449 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 0 26 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 X RICHARD POWELL 7194477600 1045 LOWER GOLD CAMP ROAD COLORADO SPRINGS CO 80905 MIKE JORGENSEN PRESIDENT 1.00 1.00 X X 0 0 0 RICH BENDER VICE PRESIDENT 1.00 1.00 X X 0 0 0 RALPH BRADEN SECRETARY 1.00 1.00 X X 0 0 0 RICK POWELL TREASURER 1.00 1.00 X X 0 0 0 JERRY BIGGS DIRECTOR 1.00 1.00 X 0 0 0 SCOTT BRYAN DIRECTOR 1.00 1.00 X 0 0 0 KEVIN CHILTON DIRECTOR 1.00 1.00 X 0 0 0 MATT GRAGE DIRECTOR 1.00 1.00 X 0 0 0 GARY MARKLE DIRECTOR 1.00 1.00 X 0 0 0 MIKE MCCOY DIRECTOR 1.00 1.00 X 0 0 0 BOBBY NORRIS DIRECTOR 1.00 1.00 X 0 0 0 JEFF RENEHAN DIRECTOR 1.00 1.00 X 0 0 0 CAROLE SONDRUP DIRECTOR 1.00 1.00 X 0 0 0 CATHERINE STEELE DIRECTOR 1.00 1.00 X 0 0 0 GEORGE TAYLOR DIRECTOR 1.00 1.00 X 0 0 0 BILL TUTT DIRECTOR 1.00 1.00 X 0 0 0 THAYER TUTT DIRECTOR 1.00 1.00 X 0 0 0 KYLE PARK GENERAL MANAGER 30.00 10.00 X 158896 0 9441 158896 0 9441 1 0 1 0 0 53977 6449186 56256 6449186 6559419 EVENT REVENUE 812900 956759 951166 5593 SUMMIT CATERING 722513 184757 184757 1141516 6925 6925 121511 8571 112940 112940 11294 101646 23977 53977 28042 -4065 -4065 MISCELLANEOUS INCOME 900099 98898 98898 98898 7915633 1135923 16887 203404 3759846 3759846 172719 34544 138175 279049 55810 223239 3072 614 2458 2925 585 2340 48409 9682 38727 2625 2625 8400 8400 92434 9243 83191 7276 3638 3638 33147 23203 9944 7452 5216 2236 315176 63035 252141 6 5 1 269 215 54 100279 100279 222925 44585 178340 77462 38731 38731 OTHER EVENT EXPENSES 111565 50204 61361 BAD DEBT 22713 10221 12492 DUES AND SUBSCRIPTION 9966 4485 5481 EQUIPMENT 9301 4185 5116 12006 5402 6604 5299022 4123449 1175573 0 91983 391910 710287 36725 2450 3897 15026 9110262 3283110 0 5827152 0 396124 94433 7381121 87989 803350 1000000 2650119 72274 191103 72274 4732561 X 22159 2648560 22159 2648560 94433 7381121 2616611 9790 0 X 0 0 0 X 84225 6559419 6643644 1135923 1135923 84225 7695342 7779567 0 0 0 7779567 68 108571 108639 68 108571 108639 12989 12989 17498 98898 116396 101791 7915800 8017591 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 161000 161000 8114749 2741428 5373321 492477 315538 176939 342036 226144 115892 5827152 DUE FROM PIKES PEAK OR RODEO BUST FOUNDATION 95700 INVESTMENT IN SUMMIT 300424 396124 DUE TO PIKES PEAK OR RODEO BUST FOUNDATION 167627 COWGIRLS PASSTHROUGH 6426 BLUE JEAN AND BRASS PASS THROUGH 3496 RODEO PASSTHROUGH 13554 191103 COWGIRLS 75292 53977 21315 9500 18042 75292 53977 21315 9500 18042 27542 -6227 1 PIKES PEAK OR BUST RODEO FOUNDATION 10 LAKE CIRCLE COLORADO SPRINGS CO 80906 841589318 501(C)(3) 3706221 0 N/A N/A TRANSFER OF LIABILITIES UNDER NEW OPERATIONS MEMORIAL HEALTH SYSTEM FOUNDATION 1400 E BOULDER STREET STE 2N2019 COLORADO SPRINGS CO 80909 841576338 501(C)(3) 53625 0 N/A N/A SUPPORT FOR LOCAL BREAST CANCER PATIENTS 2 0 PART I, LINE 2: THE ORGANIZATION SHARES THE ENTIRE BOARD WITH PIKES PEAK OR BUST RODEO FOUNDATION. THERE IS COMBINED OVERSIGHT BETWEEN THE TWO ORGANIZATION ENSURING PROPER TREATMENT OF THE GRANT. ALL OTHER GRANT FUNDS ARE SPECIFIED FOR USES WHICH ARE IN ACCORDANCE WITH THE ORGANIZATION'S EXEMPT PURPOSE. NO ADDITIONAL MONITORING IS DEEMED NECESSARY. X 0 0 0 0 0 1 0 0 0 KYLE PARK GENERAL MANAGER 153248 0 5648 0 0 0 1282 0 8159 0 168337 0 0 0 PART I, LINE 6 KYLE PARK WAS GIVEN A BONUS BASED ON THE PROFITABILITY OF THE EVENT RENTALS. HE RECEIVED A 4% BONUS ON THE NET EARNINGS OF THE EVENT RENTALS. ROBERT NORRIS TRUSTEE BUILDING CONSTRUCTION/REMODEL X 1000000 1000000 0 1 1 1000000 X FIXED ASSETS AND EQUITY 1 6449186 VALUE AT TIME OF TRA 0 0 0 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTORS WAS USED IN PART I COLUMN (B). FORM 990, PART VI, SECTION A, LINE 1A THE FOUNDATION'S FINANCE AND EXECUTIVE COMMITTEE HAS AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 2 BILL TUTT AND THAYER TUTT HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. ONCE A DRAFT IS AVAILABLE, A COPY OF THE FORM 990 IS PROVIDED TO ALL DIRECTORS FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C IF ANY PERSON WHO IS A DIRECTOR OR OFFICER OF THE CORPORATION IS AWARE THAT THE CORPORATION MAY OR IS ABOUT TO ENTER INTO ANY BUSINESS TRANSACTION DIRECTLY OR INDIRECTLY WITH HIMSELF, ANY MEMBER OF SUCH PERSON'S FAMILY, OR ANY ENTITY IN WHICH HE HAS ANY LEGAL, EQUITABLE, OR FIDUCIARY INTEREST OR POSITION, INCLUDING WITHOUT LIMITATION AS A DIRECTOR OFFICER, SHAREHOLDER, PARTNER, BENEFICIARY OR DIRECTOR, SUCH PERSON SHALL (I) IMMEDIATELY INFORM THOSE CHARGED WITH APPROVING THE TRANSACTION ON BEHALF OF THE CORPORATION OF SUCH PERSON'S INTEREST OR POSITION; (II) AID THE PERSONS CHARGED WITH MAKING THE DECISION BY DISCLOSING ANY MATERIAL FACTS WITHIN SUCH PERSON'S KNOWLEDGE THAT BEAR ON THE ADVISABILITY OF SUCH TRANSACTION FROM THE STANDPOINT OF THE CORPORATION; AND (III) NOT BE ENTITLED TO VOTE ON THE DECISION TO ENTER INTO SUCH TRANSACTION. VOTING ON SUCH TRANSACTION SHALL BE CONDUCTED AS FOLLOWS: (A) DISCUSSION OF THE MATTER, WITH THE INTERESTED OFFICER OR DIRECTOR, SHALL BE HELD BY THE BOARD WITH SUCH PERSON PRESENT TO PROVIDE INFORMATION AND ANSWER ANY QUESTIONS. (B) THE INTERESTED OFFICER OR DIRECTOR SHALL WITHDRAW FROM THE MEETING. (C) DISCUSSION OF THE MATTER, OUTSIDE OF THE PRESENCE OF THE INTERESTED OFFICER OR DIRECTOR, SHALL BE HELD BY THE BOARD. (D) THE REMAINING MEMBERS OF THE BOARD SHALL VOTE. SUCH VOTING SHALL BE BY WRITTEN BALLOT. SUCH BALLOTS SHALL NOT REFLECT THE NAME OR IDENTITY OF THE PERSON VOTING. FORM 990, PART VI, SECTION B, LINE 15 KYLE PARK IS LISTED AS AN OFFICER DUE TO HIS OVERSIGHT OF OPERATIONS OF THE NORRIS PENROSE EVENT CENTER AND DOES NOT HAVE OTHER RESPONSIBILITIES AS AN OFFICER. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION WILL THOUGHTFULLY CONSIDER REQUESTS FOR FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY. NORRIS PENROSE EQUESTRIAN CENTER LLC 1045 LOWER GOLD CAMP RD COLORADO SPRINGS CO 80905 202149367 EVENT CENTER CO 1409443 1487916 NORRIS PENROSE LEGACY FOUNDATION PIKES PEAK OR BUST RODEO FOUNDATION 10 LAKE CIRCLE COLORADO SPRINGS CO 80906 841589318 PRESERVING WESTERN HERITAGE AND SENSE OF COMMUNITY CO 501(C)(3) LINE 7 NORRIS PENROSE LEGACY FOUNDATION 1 0 1 1 1 1 0 0 0 0 0 0 1 0 1 1 0 0 0 0 PIKES PEAK OR BUST RODEO FOUNDATION B 3706221 VALUE AT TIME OF TRANSFER PIKES PEAK OR BUST RODEO FOUNDATION C 6449186 VALUE AT TIME OF TRANSFER PIKES PEAK OR BUST RODEO FOUNDATION D 95700 END OF YEAR BALANCE PIKES PEAK OR BUST RODEO FOUNDATION E 167627 END OF YEAR BALANCE