Park Family Foundation
- Assets
- $37.7m
- Revenue
- $377.7k
- Investments
- $27.5m
- Employees
- 0
- Location
- Medina, OH
- Founding
- 05/2004
- Data as of
- 12/2022
- EIN
- 20-0791170
Organization Overview
Park Family Foundation is located in Medina, OH. The organization was established in 2004. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Park Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Park Family Foundation generated $377.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (29.3%) each year. All expenses for the organization totaled $4.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Park Family Foundation has awarded 189 individual grants totaling $11,054,170. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
THE PARK FOUNDATION DID NOT ENGAGE IN ANY DIRECT CHARITABLE ACTIVITIES DURING 2022
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raymond P Park President | 4 | $0 | |
Dan K Park Vice President | 4 | $0 | |
Kelly C Park Vice President, Treasurer | 4 | $0 | |
Piper A Park Vice President | 2 | $0 | |
Patrick M Park Vice President | 2 | $0 | |
Ricky L Bertram Secretary | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,416 |
| Interest on Savings | $0 |
| Dividends & Interest | $902,915 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$529,616 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $377,715 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $11,221 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $135,738 |
| Total operating and administrative expenses | $146,959 |
| Contributions, gifts, grants paid | $4,145,850 |
| Total expenses and disbursements | $4,292,809 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $89,761 |
| Savings and temporary cash investments | $2,462,031 |
| Net Accounts receivable | $55,746 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,797,274 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $7,640,246 |
| Total assets | $37,712,129 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Park Family Foundation has awarded $4,145,850 in support to 61 organizations.
| Grant Recipient | Amount |
|---|---|
ALLEGHENY HEALTH NETWORK PURPOSE: CHARITABLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $100,000 |
BROOKPARK BOTANICAL AND GARDEN CLUB PURPOSE: CHARITABLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $10,000 |
CENTER FOR CREATIVE EDUCATION PURPOSE: CHARITABLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $100,000 |
CLEVELAND CLINIC FOUNDATION PURPOSE: CHARITABLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $1,000,000 |
CLEVELAND INSTITUTE OF MUSIC PURPOSE: CHARITABLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $50,000 |
CLEVELAND INSTITUTE OF MUSIC PURPOSE: CHARITABLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $100,000 |