Nonprofit · EIN 86-3390659
NORRIS PENROSE LEGACY FOUNDATION
Tax-exempt · COLORADO SPRINGS, CO 80905
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| January 31, 2025 | 990 | $1,808,876 | $1,759,258 | $49,618 | $7,146,787 | $3,679,289 | $3,467,498 |
| January 31, 2024 | 990 | $7,915,633 | $5,299,022 | $2,616,611 | $7,381,121 | $4,732,561 | $2,648,560 |
Financial details: 990 for the year ended January 31, 2025
Revenue
- Contributions, gifts and grants
- $149,630
- Program service revenue
- $1,258,933
- Investment income
- $6,068
- Net rental income
- $197,095
- Net income from fundraising events
- $59,914
- Other revenue
- $394,245
Expenses
- Grants and similar amounts paid
- $106,000
- Compensation of officers, directors and key employees
- $192,417
- Other salaries and wages
- $278,545
- Salaries, compensation and benefits (total)
- $571,126
- Professional fundraising fees
- $0
- Accounting fees
- $18,929
- Occupancy
- $347,854
- Travel
- $730
- Depreciation
- $231,395
- Program services (functional)
- $480,214
- Management and general (functional)
- $1,279,044
Balance sheet and other
- Total assets, start of year
- $7,381,121
- Total assets, end of year
- $7,146,787
- Total liabilities, end of year
- $3,679,289
- Net assets, end of year
- $3,467,498
- Land, buildings and equipment
- $5,733,961
- Net assets without donor restrictions
- $3,467,498
- Gross unrelated business income
- $1,435
- Gross receipts
- $1,824,318
- Employees
- 22
- Volunteers
- 17
- Year formed
- 2021
- State of legal domicile
- CO
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended January 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KYLE PARK | GENERAL MANAGER Officer | 30 | $159,900 | $37,410 |
| MIKE JORGENSEN | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| RICH BENDER | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| RALPH BRADEN | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| RICK POWELL | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JERRY BIGGS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SCOTT BRYAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEVIN CHILTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MATT GRAGE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GARY MARKLE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE MCCOY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BOBBY NORRIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEFF RENEHAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAROLE SONDRUP | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CATHERINE STEELE | DIRECTOR Trustee or director | 1 | $0 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| GEORGE TAYLOR | DIRECTOR Trustee or director | 1 | $0 |
| BILL TUTT | DIRECTOR Trustee or director | 1 | $0 |
| THAYER TUTT | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended January 31, 2024: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| KYLE PARK | GENERAL MANAGER Officer | 30 | $158,896 | $9,441 |
| MIKE JORGENSEN | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| RICH BENDER | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| RALPH BRADEN | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| RICK POWELL | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JERRY BIGGS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SCOTT BRYAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEVIN CHILTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MATT GRAGE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GARY MARKLE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MIKE MCCOY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BOBBY NORRIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEFF RENEHAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAROLE SONDRUP | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CATHERINE STEELE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GEORGE TAYLOR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BILL TUTT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THAYER TUTT | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1045 LOWER GOLD CAMP ROAD, COLORADO SPRINGS, CO 80905-4801
- In care of
- % KYLE PARK GENERAL MANAGER
- Mailing address (990-N for 2021)
- 1045 LOWER GOLD CAMP ROAD, COLORADO SPRINGS CO 80905
- Principal officer (990 for 2024)
- MICHAEL JORGENSEN, 1045 LOWER GOLD CAMP ROAD, COLORADO SPRINGS, CO 80905
- Principal officer (990-N for 2021)
- MICHAEL JORGENSEN, 1045 LOWER GOLD CAMP ROAD, COLORADO SPRINGS CO 80905
- Signed the 990
- RICHARD POWELL, TREASURER
- Phone
- (719) 635-1101
- Website
- WWW.NORRISPENROSE.COM
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
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.
Program accomplishments
- 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.Expenses $480,214 · grants $106,000 · revenue $1,396,169
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | Check at the IRS |
| 2023 | December 31, 2023 | May 15, 2024 | Check at the IRS |
IRS record
- EIN
- 86-3390659
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N31)
- Assets (IRS master file)
- $7,146,787
- Income (IRS master file)
- $1,824,318
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | January 2025 | $1,808,876 | $1,759,258 | $7,146,787 | XML |
| 990-T | January 2025 | – | – | – | IRS |
| 990 | January 2024 | $7,915,633 | $5,299,022 | $7,381,121 | XML |
| 990-EZ | January 2023 | – | – | – | IRS |
| 990-N for 2021 Officer: MICHAEL JORGENSEN | January 31, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 86-3390659).
Questions about NORRIS PENROSE LEGACY FOUNDATION
- What is the EIN of NORRIS PENROSE LEGACY FOUNDATION?
- The employer identification number (EIN) of NORRIS PENROSE LEGACY FOUNDATION is 86-3390659.
- Is NORRIS PENROSE LEGACY FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to NORRIS PENROSE LEGACY FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NORRIS PENROSE LEGACY FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NORRIS PENROSE LEGACY FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NORRIS PENROSE LEGACY FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended January 2025.
- Who is the principal officer of NORRIS PENROSE LEGACY FOUNDATION?
- The 990 for the year ended January 31, 2025 names MICHAEL JORGENSEN.
- Who are the officers and directors of NORRIS PENROSE LEGACY FOUNDATION?
- The 990 for the year ended January 31, 2025 lists 18 people; 1 received compensation from the organization, the highest $159,900 (KYLE PARK, GENERAL MANAGER).
- How much revenue does NORRIS PENROSE LEGACY FOUNDATION have?
- On its 990 for the year ended January 31, 2025 it reported revenue of $1,808,876, expenses of $1,759,258 and total assets of $7,146,787 at year end.
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