The Lincoln Park Society
- Assets
- $5.0m
- Revenue
- $407.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 02/1997
- Data as of
- 06/2020
- EIN
- 36-4032280
Organization Overview
The Lincoln Park Society is located in Chicago, IL. The organization was established in 1997. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lincoln Park Society 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 06/2020, Lincoln Park Society generated $407.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.6%) each year. All expenses for the organization totaled $520.8k during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE LINCOLN PARK SOCIETY WAS ORGANIZED TO OWN AND OPERATE A PUBLIC PARKING FACILITY WITHIN THE CITY OF CHICAGO AND TO PROVIDE URBAN PLANNING ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAND USE PLANNING: PROVIDE URBAN ASSISTANCE TO THE CITY OF CHICAGO AND LESSEN THE BURDENS OF THE GOVERNMENT BY OPERATING A PUBLIC PARKING FACILITY.
LAND USE PLANNING: PROVIDE URBAN ASSISTANCE TO THE CITY OF CHICAGO AND LESSEN THE BURDENS OF THE GOVERNMENT BY OPERATING A PUBLIC PARKING FACILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl Obermeyer Treasurer | Trustee | 1 | $0 |
John Russick Trustee | Trustee | 1 | $0 |
Brendan Daley Trustee | Trustee | 1 | $0 |
Gary T Johnson President | Trustee | 1 | $0 |
Steve Lux Trustee | Trustee | 1 | $0 |
Jim Croft Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $2,741 |
| 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 | $407,381 |
| 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. | $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 | $27,603 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $123,441 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $517 |
| 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 | $0 |
| Interest | $69,350 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $277,211 |
| Insurance | $5,500 |
| All other expenses | $0 |
| Total functional expenses | $520,822 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,250,000 |
| Savings and temporary cash investments | $1,286,290 |
| 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 | $4,988,446 |
| Accounts payable and accrued expenses | $3,499,015 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $1,940,783 |
| 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 | $215,083 |
| Total liabilities | $5,654,881 |
| 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 | -$666,435 |
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