2025-09-10T08:15:26-05:00 2024-12-31 420946155 HONKAMP PC 2345 JOHN F KENNEDY ROAD DUBUQUE IA 52002 990 2024-01-01 920629253 SCHMITT ISLAND DEVELOPMENT CORPORATION SCHM 5635852971 1800 ADMIRAL SHEEHY DRIVE DUBUQUE IA 52001 KATHY BUHR TREASURER 5635852971 2025-08-27 1 0 STEPHANIE K METTILLE CPA P01359962 5635560123 2025-08-27 2024 2025-03-06 01:10:19Z KATHY BUHR 1800 ADMIRAL SHEEHY DRIVE DUBUQUE IA 52001 1445917 0 X WWW.SCHMITTISLAND.COM/DEVELOPMENT-CORPORATION X 2022 IA 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. 9 9 0 9 0 0 722230 206802 487279 530549 11439 17207 405130 464638 1626078 1219196 0 0 0 0 0 0 0 0 0 1288302 1339874 1288302 1339874 337776 -120678 949284 800192 255238 302277 694046 497915 X 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. 0 0 1239306 995187 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. 1239306 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 0 X EMILY HELBING 5635852945 1855 GREYHOUND PARK RD DUBUQUE IA 52001 X KATHY BUHR TREASURER 4.50 X X 0 0 0 SARA HANTEN PRESIDENT 5.00 X X 0 0 0 JASON WHITE VICE PRESIDENT 4.50 X X 0 0 0 BRIAN KUHLE DIRECTOR 4.50 X 0 0 0 CAYLA SCHNEIDER DIRECTOR 4.50 X 0 0 0 DENISE UDELHOFEN SECRETARY 4.50 X X 0 0 0 MARIE WARE DIRECTOR 4.50 X 0 0 0 JUSTINE PARADISO DIRECTOR 4.50 X 0 0 0 TOMMY LANGE DIRECTOR 4.50 X 0 0 0 0 0 0 0 0 0 0 0 206802 206802 HOURLY ICE 713940 355479 355479 OTHER INCOME 713940 105256 105256 PUBLIC SKATE 713940 56044 56044 SKATE RENTAL 713940 13374 13374 PRO SHOP SALES 713940 396 396 530549 17207 17207 22109 0 22109 22109 22109 669250 226721 442529 442529 1219196 995187 0 17207 X 100567 100567 530147 530147 2060 2060 270303 270303 53531 53531 17168 17168 SAINT FEES 289766 289766 SUPPLIES 44545 44545 MTC AGREEMENT 18942 18942 BANCK CHARGES 14189 14189 -1344 -1345 1 1339874 1239306 100568 0 368059 236874 168460 78617 44517 68967 24500 30935 12803 17867 451646 84714 328645 366932 2300 0 949284 800192 167905 137491 87333 164786 255238 302277 X 694046 497915 694046 497915 949284 800192 -120678 -75453 0 X 0 1 X 0 0 X 510149 722230 206802 1439181 185759 1069839 1221908 2477506 695908 1792069 1428710 3916687 0 496229 668125 177884 1342238 496229 668125 177884 1342238 2574449 97 11439 17207 28743 97 11439 17207 28743 696005 1803508 1445917 3945430 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 451646 84714 366932 366932 X 1219196 0 1219196 0 1219196 1339874 0 1339874 0 1339874 PART X, LINE 2: SCHMITT ISLAND DEVELOPMENT CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND A SIMILAR SECTION OF STATE LAW, WHICH PROVIDES TAX EXEMPTION FOR ENTITIES ORGANIZED AND OPERATED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE OR EDUCATION PURPOSES. DUBUQUE RACING ASSOCIATION LTD SUBSTANTIAL CONTRIBUTOR 616226 MANAGEMENT AGREEMENT & RELATED SERVICES 0 FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION DELEGATES CONTROL OVER MANAGEMENT DUTIES TO DUBUQUE RACING ASSOCIATION, LTD. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED FORM 990 IS REVIEWED BY THE DUBUQUE RACING ASSOCIATION, LTD. FINANCE TEAM AS WELL AS SCHMITT ISLAND DEVELOPMENT BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE ENFORCEMENT OF THE POLICY IS MONITORED BY THE BOARD MEMBERS. AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF ANY ACTUAL, POTENTIAL, OR PERCEIVED CONFLICT OF INTEREST. THIS MUST BE DISCLOSED BEFORE THE ORGANIZATION ENTERS INTO THE PROPOSED TRANSACTION OR ARRANGEMENT THAT GIVES RISE TO THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION IS DETERMINED BASED ON COMPARABLE PAY IN SIMILAR POSITIONS. IF THERE IS A DISAGREEMENT ON COMPENSATION AMOUNTS, AN UNRELATED THIRD PARTY WILL BE BROUGHT IN TO DETERMINE APPROPRIATE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G FEES FOR SERVICES: PROGRAM SERVICE EXPENSES 515,659. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 515,659. PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 14,488. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 14,488.