Minot Park Foundation
- Assets
- $1.2m
- Revenue
- $434.3k
- Investments
- $1.0m
- Employees
- 0
- Location
- Minot, ND
- Founding
- 03/1995
- Data as of
- 12/2021
- EIN
- 47-0792436
Organization Overview
Minot Park Foundation is located in Minot, ND. The organization was established in 1995. 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. Minot Park 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, Minot Park Foundation generated $434.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (27.7%) each year. All expenses for the organization totaled $109.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (36.6%) 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
PROMOTING, DEVELOPING, AND ADVANCING SUPPORT FOR THE CITY OF MINOT PARK DISTRICT
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT THE CITY OF MINOT PARK DISTICT IN PARK PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Schmitt President | OfficerTrustee | 0.5 | $0 |
Ken Kitzman Vice President | OfficerTrustee | 0.5 | $0 |
Perry Olson Commissioner | Trustee | 0.5 | $0 |
Cliff Hovda Commissioner | Trustee | 0.5 | $0 |
Chuck Emery Commissioner | Trustee | 0.5 | $0 |
Ron Merritt Director | Trustee | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $385,825 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $385,825 |
| Total Program Service Revenue | $0 |
| Investment income | $13,908 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $34,545 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $434,278 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $104,768 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,823 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $109,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $142,948 |
| Savings and temporary cash investments | $0 |
| 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 | $1,028,730 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,171,678 |
| 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 | $1,171,678 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,171,678 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Minot Park Foundation has recieved totaling $125,000.
| Awarding Organization | Amount |
|---|---|
Minot Community Foundation Minot, ND PURPOSE: TO ASSIST THE ORGANIZATION WITH CARRYING OUT OF ITS TAX EXEMPT MISSION. | $125,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minneapolis Parks Foundation Minneapolis, MN | $3,258,087 | $2,195,197 |
Great Bear Management Inc Sioux Falls, SD | $660,116 | $1,449,001 |
The Jonathan Association Chaska, MN | $1,721,909 | $960,898 |
Montana Institute Of Family Living Great Falls, MT | $1,073,046 | $1,056,475 |
Grand Forks Parks And Recreationfoundation Grand Forks, ND | $9,262,108 | $737,409 |
Superior Hiking Trail Association Two Harbors, MN | $964,345 | $917,726 |
Parks & Trails Council Of Minnesota St Paul, MN | $9,462,515 | $929,913 |
Bottineau Winter Park Inc Bottineau, ND | $4,220,356 | $965,062 |
Bob Marshall Wilderness Foundation Inc Hungry Horse, MT | $747,787 | $622,590 |
Black Hills Parks And Forests Association Hot Springs, SD | $1,297,503 | $1,196,335 |
Canyon Ferry-Broadwater County Trust Sioux Falls, SD | $2,251,557 | $349,299 |
Beresford Parks Recreation And Community Education Inc Beresford, SD | $140,566 | $301,597 |