Friends Of The Hollywood Cap Park
- Assets
- $55.2k
- Revenue
- $230.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Hollywood, CA
- Founding
- 05/2009
- Data as of
- 01/2022
- EIN
- 26-4236328
Organization Overview
Friends Of The Hollywood Cap Park is located in Hollywood, CA. The organization was established in 2009. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of The Hollywood Cap Park 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 01/2022, Friends Of The Hollywood Cap Park generated $230.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $318.2k during the year ending 01/2022. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE COVID-19 PANDEMIC DERAILED SCHEDULED WORKLOAD AND CURTAILED ALL FUNDRISING ACTIVITIES. HOWEVER, THE BOARD WAS ABLE TO MOVE FORWARD WITH ENVIRONMENTAL DOCUMENTS AND DESIGN WORK FOR THE HOLLYWOOD CENTRAL PARK. FHCP TECHNICAL COMMITTEE WORKED WITH CITY PARTNERS TO CREATE PRE-DEVELOPMENT PLANS TO BUILD THE HOLLYWOOD CENTRAL PARK. ZOOM MEETINGS REPLACED IN-PERSON BOARD AND COMMITTE MEETINGS. FUNDRAISING COMMITTEE RESEARCHED GRANT OPPORTUNITIES AND EVENT PLANNING. FHCP BOARD MEMBERS ATTENDED A 5-DAY ADVOCACY TRIP TO WASHINGTON DC IN JULY 2021.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOLLYWOOD CENTRAL PARK IS A LANDMARK INFRASTRUCTURE PROJECT THAT WILL CREATE MORE THAN 35,000 DIRECT AND INDIRECT JOBS OVER 10 YEARS, PROVIDE ECONOMIC STIMULUS AND LONG TERM ECONOMIC SECURITY, PROVIDE HEALTHY COMMUNITIES AND PROVIDE CHILDREN WITH OPEN GREEN SPACE IN WHICH TO GROW AND THRIVE.THE HOLLYWOOD CENTRAL PARK WILL TRANSFORM HOLLYWOOD'S DISADVANTAGED COMMUNITIES INTOTHRIVING ECONOMIC ENGINES AND IS AN INVESTMENT IN OUR CHILDREN, OUR COMMUNITY AND OUR FUTURE.
IN ACCORDANCE WITH US GAAP, CONTRIBUTION OF SERVICES ARE RECOGNIZED IF THE SERVICES RECEIVED (A) CREATE OR ENHANCE NONFINANCIAL ASSETS OR (B) REQUIRE SPECIALIZED SKILLS THAT ARE PROVIDED BY INDIVIDUALS POSSESSING THOSE SKILLS, AND (C) THE SERVICES AND COSTS WOULD TYPICALLY NEED TO BE PURCHASED IF NOT PROVIDED BY DONATION. CONTRIBUTED SERVICES THAT DO NOT MEET THE CRITERIA ARE NOT RECOGNIZED.FHCP RECEIVES A SIGNIFICANT AMOUNT OF DONATED SERVICES FROM UNPAID PROFESSIONAL VOLUNTEERS WHO ASSIST IN CARRYING OUT THE ORGANIZATION'S PROGRAM SERVICES.SEE SCH D AND SCH O FOR DETAIL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laurie Goldman President | Trustee | 8 | $180,000 |
Christopher Barton Board Member | Trustee | 4 | $0 |
David Bass Board Member | Trustee | 6 | $0 |
Jeff Briggs Board Member | Trustee | 8 | $0 |
Scott Campbell Treasurer | OfficerTrustee | 8 | $0 |
Kyndra Casper Secretary | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Firstcarbon Solutions Eir Lead Consult. | 1/30/20 | $254,000 |
Sheppard Mullin Eir Legal Svs | 1/30/20 | $255,000 |
Skidmore Owings & Merril Hcp Master Plng. | 1/30/20 | $116,702 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $230,508 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $230,508 |
| Statement of Expenses | |
|---|---|
| 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. | $180,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,666 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,612 |
| Payroll taxes | $15,080 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,129 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,076 |
| Office expenses | $6,340 |
| Information technology | $9,010 |
| Royalties | $0 |
| Occupancy | $42,000 |
| Travel | $8,191 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,164 |
| All other expenses | $0 |
| Total functional expenses | $318,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,823 |
| Savings and temporary cash investments | $17,392 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $55,215 |
| Accounts payable and accrued expenses | $231,667 |
| 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 | $75,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $299,000 |
| Total liabilities | $605,667 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | -$550,452 |