Park Nicollet
- Assets
- $1.7b
- Revenue
- $1.9b
- Investments
- $1.9m
- Employees
- 0
- Location
- St Louis Park, MN
- Founding
- 06/2011
- Data as of
- 12/2021
- EIN
- 45-5023260
Organization Overview
Park Nicollet is located in St Louis Park, MN. The organization was established in 2011. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Park Nicollet 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, Park Nicollet generated $1.9b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $1.7b during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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 IMPROVE HEALTH AND WELL-BEING IN PARTNERSHIP WITH OUR MEMBERS, PATIENTS AND COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O - EXEMPT PURPOSE AND ACHIEVEMENTS FOR A DESCRIPTION OF PROGRAM SERVICE ACCOMPLISHMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian L Walters Mn Medical Doctor | 80 | $1,668,999 | |
Gregery R Hildebrand MD Medical Doctor | 65 | $1,284,027 | |
Robert W Werling MD Medical Doctor | 35 | $1,239,485 | |
Christine M Pui MD Medical Doctor | 52 | $1,198,418 | |
Kenneth D Olsen MD Medical Doctor | 58 | $1,185,347 | |
Jeff M Mendeloff MD Director | Trustee | 64 | $937,198 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Intereum Staffing | 12/30/21 | $5,956,996 |
Group Health Plan Inc Adminstrative Services | 12/30/21 | $60,206,227 |
Rjm Construction Construction Services | 12/30/21 | $8,050,425 |
Harvard Services Group Inc Cleaning Services | 12/30/21 | $3,809,896 |
Knutson Construction Services Construction Services | 12/30/21 | $4,183,775 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $10,216,907 |
| Government grants | $8,343,710 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,560,617 |
| Total Program Service Revenue | $1,814,341,313 |
| Investment income | $7,048,927 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $520,829 |
| Net Gain/Loss on Asset Sales | $31,058,713 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $57,504 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,876,897,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,940 |
| 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. | $1,013,747 |
| Compensation of current officers, directors, key employees. | $101,375 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $942,402,827 |
| Pension plan accruals and contributions | $49,679,761 |
| Other employee benefits | $97,145,277 |
| Payroll taxes | $47,950,997 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $340,963 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $27,582 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $569,008 |
| Fees for services: Other | $59,424,483 |
| Advertising and promotion | $787,651 |
| Office expenses | $9,873,058 |
| Information technology | $4,480,487 |
| Royalties | $0 |
| Occupancy | $41,598,291 |
| Travel | $1,065,824 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $87,218 |
| Interest | $14,333,109 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,305,970 |
| Insurance | $6,511,916 |
| All other expenses | $13,331,307 |
| Total functional expenses | $1,720,278,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,672 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $177,549,145 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,556,157 |
| Prepaid expenses and deferred charges | $2,305,037 |
| Net Land, buildings, and equipment | $472,426,756 |
| Investments—publicly traded securities | $574,524,898 |
| Investments—other securities | $1,869,337 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $476,650,378 |
| Total assets | $1,715,897,380 |
| Accounts payable and accrued expenses | $199,630,811 |
| Grants payable | $0 |
| Deferred revenue | $38,837,581 |
| Tax-exempt bond liabilities | $327,394,129 |
| 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 | $32,347,784 |
| Total liabilities | $598,210,305 |
| Net assets without donor restrictions | $1,116,255,602 |
| Net assets with donor restrictions | $1,431,473 |
| 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 | $1,715,897,380 |
Grants Awarded
Over the last fiscal year, Park Nicollet has awarded $31,500 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Excelsior, MN PURPOSE: PROGRAM SUPPORT | $6,500 |
Oakdale, MN PURPOSE: PROGRAM SUPPORT | $5,000 |
Minneapolis, MN PURPOSE: PROGRAM SUPPORT | $5,000 |
Waconia, MN PURPOSE: PROGRAM SUPPORT | $5,000 |
Minnetonka, MN PURPOSE: PROGRAM SUPPORT | $5,000 |
Plano, TX PURPOSE: PROGRAM SUPPORT | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Park Nicollet has recieved totaling $87,874.
| Awarding Organization | Amount |
|---|---|
Minnesota Hospital Association St Paul, MN PURPOSE: SPECIAL PATHOGEN PREPAREDNESS AND RESPONSE | $87,874 |
Endowment Analysis
| Beg. Balance | $53,552,619 |
| Earnings | $2,175,896 |
| Net Contributions | $3,127,559 |
| Grants | $1,731,917 |
| Ending Balance | $57,124,157 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Prospect Meadows Inc Marion, IA | $13,712,909 | $1,593,506 |
Friends Of@sauk Prairie Parks And Recreation Inc Sauk City, WI | $5,893,890 | $2,059,173 |
Ice Age Trail Alliance Cross Plains, WI | $12,975,124 | $3,561,895 |
Friends Of Hoyt Park Wauwatosa, WI | $6,559,517 | $1,528,114 |
Des Moines Water Works Park Foundation Des Moines, IA | $1,156,984 | $338,708 |
Minneapolis Parks Foundation Minneapolis, MN | $3,258,087 | $2,195,197 |
Camp Jorn Young Mens Christian Association Manitowish Waters, WI | $14,142,692 | $2,178,716 |
Great Bear Management Inc Sioux Falls, SD | $660,116 | $1,449,001 |
Fairfield Arts & Convention Center Fairfield, IA | $1,605,000 | $1,358,734 |
The Jonathan Association Chaska, MN | $1,721,909 | $960,898 |
Grand Forks Parks And Recreationfoundation Grand Forks, ND | $9,262,108 | $737,409 |
Superior Hiking Trail Association Two Harbors, MN | $964,345 | $917,726 |