Summit Metro Parks Foundation
- Assets
- $2.9m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Akron, OH
- Founding
- 07/1993
- Data as of
- 12/2023
- EIN
- 34-1683837
Organization Overview
Summit Metro Parks Foundation is located in Akron, OH. The organization was established in 1993. According to its NTEE Classification (C12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit Metro 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 12/2023, Summit Metro Parks Foundation generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 20.0% each year . All expenses for the organization totaled $1.4m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES FOR THE BENEFIT OF SUMMIT METRO PARKS TO FURTHER ITS CHARITABLE PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SUMMIT METRO PARKS FOUNDATION PROVIDED FUNDS FOR THE CONSTRUCTION OF THE RIVER ACCESS AT CASCADE VALLEY METRO PARK VALLEY VIEW AREA, ROCK & HERB GARDEN POND RECONSTRUCTION AND TRAIL IMPROVEMENTS.
THE SUMMIT METRO PARKS FOUNDATION RAISES AND STEWARDS FUNDS IN SUPPORT OF PARK DISTRICT PROJECTS. TRAIL CONSTRUCTION AND MAINTENANCE, PARK BENCHES, EDUCATION, IMPLEMENTATION OF THE TREE TRUST FOR BEAUTIFICATION AND ECOLOGICAL RESTORATION, YOUTH FISHING, THE METRO PARKS ENSEMBLE, EMPLOYEE SCHOLARSHIPS AND THE F.A. SEIBERLING NATURE REALM ARE AMONG PROGRAMS RECEIVING ONGOING BENEFIT.
THE SUMMIT METRO PARKS FOUNDATION PROVIDED FUNDS TO ASSIST MULTIPLE SUMMIT METRO PARKS PROGRAMS, INCLUDING YOUTH FISHING, CONSERVATION PROGRAMS, NATURE CENTER PROGRAMS AND CYCLING WITHOUT AGE.
AS ONE OF THE MANY COLLABORATORS FOR THE REIMAGINING CIVIC COMMONS PROJECT CONVENED BY THE OHIO AND ERIE CANALWAY COALITION, THE SUMMIT METRO PARKS FOUNDATION HAS CONTINUED PROGRAM SUPPORT AT THE SUMMIT LAKE NATURE CENTER IN THE SUMMIT LAKE NEIGHBORHOOD OF AKRON ALONG THE OHIO AND ERIE TOWPATH TRAIL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
S Theresa Carter President | OfficerTrustee | 1 | $0 |
Rev Dr Curtis T Walker Sr Treasurer | OfficerTrustee | 1 | $0 |
Mark Spisak Secretary | OfficerTrustee | 1 | $0 |
Herbert Newman Trustee | Trustee | 1 | $0 |
Joel Bailey Trustee | Trustee | 1 | $0 |
Lisa King Summit Metro Parks, Executive Director | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $322,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,449,594 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,771,594 |
| Total Program Service Revenue | $0 |
| Investment income | $491 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,322 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,776,407 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,799 |
| Fees for services: Accounting | $86 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,702 |
| Office expenses | $4,951 |
| Information technology | $6,041 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,381 |
| Interest | $0 |
| Payments to affiliates | $110,094 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,165 |
| All other expenses | $0 |
| Total functional expenses | $1,402,246 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,421,488 |
| Savings and temporary cash investments | $447,449 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,868,937 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $2,420,865 |
| Net assets with donor restrictions | $448,072 |
| 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 | $2,868,937 |