Los Angeles Parks Foundation
- Assets
- $6.0m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 6
- Location
- Los Angeles, CA
- Founding
- 08/2008
- Data as of
- 12/2021
- EIN
- 26-2358338
Organization Overview
Los Angeles Parks Foundation is located in Los Angeles, CA. The organization was established in 2008. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Los Angeles Parks Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Los Angeles Parks 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 12/2021, Los Angeles Parks Foundation generated $2.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $3.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE, EXPAND, PRESERVE AND PROMOTE PUBLIC RECREATION, PARKS AND OPEN SPACE FOR THE DIVERSE PEOPLE OF LOS ANGELES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
"SPECIAL PROJECTS PROGRAMS" SUPPORTING THE LOS ANGELES CITY PARKS INCLUDE THE FOLLOWING SIGNIFICANT PROJECTS: LOS ANGELES CLIPPERS BASKETBALL COURTS REFURBISHMENT; NIKE COACH AND REFEREE TRAINING FOR GIRLS YOUTH SPORTS; WERNER FAMILY FOUNDATION PLAYGROUND DONATION.
"FRIENDS OF THE PARKS PROGRAM" PROVIDES FOR INDIVIDUALS AND COMMUNITY GROUPS TO RAISE PRIVATE FUNDS FOR A SPECIFIC PARK FOR SMALL SCALE IMPROVEMENTS AND ENHANCEMENTS.
OTHER PROGRAMS INCLUDE ADOPT-A-PARK, DONATE-A-BENCH, PARK SPECIAL EVENTS, GRIFFITH PARK URBAN ENVIRONMENTAL CENTER, AND SMALLER PROJECTS. THESE PROJECTS PROVIDE FOR INDIVIDUALS AND COMMUNITY GROUPS TO RAISE PRIVATE FUNDS FOR SPECIFIC PARKS FOR SMALL SCALE IMPROVEMENTS AND ENHANCEMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Ramsay Director, Exec Dir, Secretary | OfficerTrustee | 35 | $163,537 |
David Mcgowan Director, Treasurer | OfficerTrustee | 1 | $0 |
Barry A Sanders Director, Board Chair Emeritus | OfficerTrustee | 1 | $0 |
Lucinda Starrett Director | Trustee | 1 | $0 |
Denise Booth Director | Trustee | 1 | $0 |
Carlyle Hall Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Child's Play Commercial Playgroun | 12/30/19 | $1,053,689 |
Commercial Paving Coating Asphalt & Concrete | 12/30/19 | $1,250,134 |
Roy's Flooring Flooring Services | 12/30/19 | $1,860,899 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $162,565 |
| Related organizations | $0 |
| Government grants | $33,901 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,523,061 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,719,527 |
| Total Program Service Revenue | $0 |
| Investment income | $29,156 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $50,901 |
| Net Income from Fundraising Events | -$27,227 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,779,556 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $238,260 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $163,536 |
| Compensation of current officers, directors, key employees. | $38,421 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $241,521 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,174 |
| Payroll taxes | $26,655 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,721 |
| Fees for services: Accounting | $76,349 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $308,142 |
| Advertising and promotion | $87,149 |
| Office expenses | $20,773 |
| Information technology | $17,919 |
| Royalties | $0 |
| Occupancy | $2,004 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,169 |
| Interest | $573 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,632 |
| Insurance | $22,286 |
| All other expenses | $25,207 |
| Total functional expenses | $3,224,132 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,271,256 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,736 |
| Prepaid expenses and deferred charges | $15,331 |
| Net Land, buildings, and equipment | $64,569 |
| Investments—publicly traded securities | $4,687,921 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,042,813 |
| Accounts payable and accrued expenses | $303,615 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $21,543 |
| Other liabilities | $0 |
| Total liabilities | $325,158 |
| Net assets without donor restrictions | $2,180,480 |
| Net assets with donor restrictions | $3,537,175 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,042,813 |
Grants Awarded
Over the last fiscal year, Los Angeles Parks Foundation has awarded $217,360 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SMG DBA THE GREEK THEATRE PURPOSE: PARKS & RECREATION | $129,360 |
CITY OF LOS ANGELES DEPT OF RECREATION & PARKS PURPOSE: PARKS & RECREATION | $88,000 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Los Angeles Parks Foundation has recieved totaling $136,032.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $49,500 |
American Endowment Foundation Hudson, OH PURPOSE: GENERAL OPERATING SUPPORT | $25,000 |
David Bohnett Foundation Beverly Hills, CA PURPOSE: FRANKLIN CANYON ORANGE GROVE | $25,000 |
Mayors Fund For Los Angeles Los Angeles, CA PURPOSE: CV-19 - HOMELESSNESS VACCINE | $15,000 |
| $10,000 | |
Strompolos Family Foundation Santa Monica, CA PURPOSE: TO ENHANCE, EXPAND, PRESERVE, AND PROMOTE RECREATION AND PARKS AND OPEN SPACES FOR THE PEOPLE OF LOS ANGELES. | $5,000 |
Endowment Analysis
| Beg. Balance | $913,176 |
| Earnings | $118,554 |
| Ending Balance | $1,031,730 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Green Hills Memorial Park Endowment Care Trust Fund Rancho Palos Verdes, CA | $83,462,233 | $9,095,852 |
Reno-Tahoe Open Foundation Reno, NV | $100,630 | $4,549,050 |
Valley Of The Sun Bowl Foundation Scottsdale, AZ | $1,083,776 | $4,579,117 |
Outward Bound California San Francisco, CA | $5,260,897 | $5,231,373 |
Los Angeles Parks Foundation Los Angeles, CA | $6,042,813 | $2,779,556 |
The Scga Foundation Studio City, CA | $5,068,543 | $2,522,992 |
Truckee Meadows Parks Foundation Reno, NV | $433,381 | $1,831,292 |
Youth Tennis San Diego San Diego, CA | $3,088,296 | $1,446,054 |
Elings Park Foundation Santa Barbara, CA | $8,528,099 | $3,756,645 |
Vegas Jr Golden Knights Foundation Inc Las Vegas, NV | $277,565 | $1,461,319 |
Kukuiolono Park Trust Estate Honolulu, HI | $5,322,093 | $1,327,983 |
Death Valley Conservancy Pasadena, CA | $30,770,823 | $2,218,729 |