Mylan Park Foundation Inc
- Assets
- $64.8m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 44
- Location
- Morgantown, WV
- Founding
- 11/1999
- Data as of
- 12/2023
- EIN
- 55-0765182
Organization Overview
Mylan Park Foundation Inc is located in Morgantown, WV. The organization was established in 1999. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2023, Mylan Park Foundation Inc employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mylan Park Foundation Inc 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, Mylan Park Foundation Inc generated $4.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 13.1% each year . All expenses for the organization totaled $7.8m during the year ending 12/2023. While expenses have increased by 21.1% per year over the past 9 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY PURPOSE OF THE FOUNDATION IS TO PROMOTE THE DEVELOPMENT AND SUPPORT OF RECREATIONAL PROJECTS FOR THE COMMUNITY AND THE MONONGALIA COUNTY, WEST VIRGINIA BOARD OF EDUCATION THROUGH SOLICITATION, ACCEPTANCE, ADMINISTRATION, AND INVESTMENT OF CONTRIBUTIONS FOR PROGRAMS AND PROJECTS. SUCH SUPPLEMENTAL PROGRAMS AND PROJECTS COULD PROVIDE PHYSICAL AS WELL AS MENTAL ENHANCEMENT OPPORTUNITIES FOR THE COMMUNITY AS A WHOLE IN ORDER TO ALLOW FOR RECREATIONAL PURSUITS; THE DEVELOPMENT OF SELF-KNOWLEDGE; AND THE FOSTERING OF SOCIAL ETHICS AND TEAM-BUILDING SKILLS.
Describe the Organization's Program Activity:
THE OPERATION, MANAGEMENT, AND MAINTENANCE OF A MULTI-PURPOSE RECREATIONAL COMPLEX TO SERVE THE STUDENTS OF MONONGALIA COUNTY SCHOOLS AND THE COMMUNITIES OF THE GREATER MORGANTOWN AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terri Howes Executive Di | Officer | 40 | $59,056 |
Shay Sachetti Director Of | Officer | 40 | $40,168 |
Toni Lofton Director Of | Officer | 40 | $12,832 |
Michael Alexander Director | Trustee | 1 | $0 |
Chris Atkins Director | Trustee | 1 | $0 |
Wren Baker Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lytle Construction Corporation Construction Se | 12/30/23 | $611,618 |
Centers Llc Management Serv | 12/30/23 | $190,134 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $5,250 |
| Related organizations | $0 |
| Government grants | $525,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $85,428 |
| Noncash contributions included in lines 1a–1f | $26,849 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $615,678 |
| Total Program Service Revenue | $3,739,814 |
| Investment income | $42,470 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $114,353 |
| Net Income from Fundraising Events | $91,869 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,604,184 |
| 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. | $112,056 |
| Compensation of current officers, directors, key employees. | $78,439 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,380,384 |
| Pension plan accruals and contributions | $40,594 |
| Other employee benefits | $161,942 |
| Payroll taxes | $142,461 |
| Fees for services: Management | $204,104 |
| Fees for services: Legal | $9,823 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $71,500 |
| Advertising and promotion | $67,995 |
| Office expenses | $101,055 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $775,976 |
| Travel | $2,229 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,629,234 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,161,943 |
| Insurance | $154,009 |
| All other expenses | $0 |
| Total functional expenses | $7,810,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $586,127 |
| Savings and temporary cash investments | $1,028,767 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $189,220 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $23,247 |
| Prepaid expenses and deferred charges | $46,404 |
| Net Land, buildings, and equipment | $62,078,903 |
| Investments—publicly traded securities | $74,059 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $740,402 |
| Total assets | $64,767,129 |
| Accounts payable and accrued expenses | $785,592 |
| Grants payable | $0 |
| Deferred revenue | $426,721 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $74,059 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $36,861,600 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $38,147,972 |
| Net assets without donor restrictions | $26,608,136 |
| Net assets with donor restrictions | $11,021 |
| 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 | $64,767,129 |