Parks System Tr Fund
- Assets
- $22.9m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Wheeling, WV
- Founding
- 12/1945
- Data as of
- 12/2021
- EIN
- 55-6000663
Organization Overview
Parks System Tr Fund is located in Wheeling, WV. The organization was established in 1945. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Parks System Tr Fund 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, Parks System Tr Fund generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 4.1% 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 SUPPORT THE PUBLIC PARKS OF WHEELING, OHIO COUNTY, WEST VIRGINIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FOR THE CONTINUING EXISTENCE OF THE WHEELING PARK COMMISSION AND ITS OBJECTIVE OF MAINTAINING A PUBLIC PARK SYSTEM FOR THE BENEFIT OF THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan C Stamp Vice Chairman | OfficerTrustee | 1 | $0 |
R Gregory Mcdermott Chairman | OfficerTrustee | 1 | $0 |
David H Mckinley Secretary-Treasurer | OfficerTrustee | 1 | $0 |
Justin B Seibert Trustee | Trustee | 1 | $0 |
Sue Seibert Farnsworth Trustee | Trustee | 1 | $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 | $252,932 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $252,932 |
| Total Program Service Revenue | $0 |
| Investment income | $279,984 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $458,565 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,163,511 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,155,007 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,529,355 |
| 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 | $18,000 |
| Fees for services: Legal | $316 |
| Fees for services: Accounting | $24,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $56,002 |
| 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 | $539 |
| Total functional expenses | $1,628,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $839,522 |
| Investments—publicly traded securities | $17,875,107 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,195,829 |
| Total assets | $22,910,458 |
| Accounts payable and accrued expenses | $126,000 |
| Grants payable | $78,383 |
| 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 | $204,383 |
| Net assets without donor restrictions | $6,145,855 |
| Net assets with donor restrictions | $16,560,220 |
| 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 | $22,910,458 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Parks System Tr Fund has recieved totaling $147,423.
| Awarding Organization | Amount |
|---|---|
Meagel Charitable Tr Parkersburg, WV PURPOSE: GENERAL USE FOR PUBLIC PARK | $147,423 |
Endowment Analysis
| Beg. Balance | $16,438,269 |
| Earnings | $2,648,047 |
| Admin Expense | $98,857 |
| Net Contributions | -$41,564 |
| Grants | $1,529,355 |
| Ending Balance | $17,416,540 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Edith L Trees Charitable Trust Pittsburgh, PA | $351,552,610 | $23,983,044 |
Claude Moore Charitable Foundation Fairfax, VA | $240,670,570 | $26,185,543 |
Community Anti-Drug Coalitions Of America Alexandria, VA | $15,283,034 | $14,789,686 |
William H Davis & Dorothy M Davis & William C Davis Foundation Columbus, OH | $50,622,304 | $3,999,336 |
Traditions At Mill Run Columbus, OH | $9,179,158 | $5,528,068 |
James W And Frances Gibson Mcglothlin Foundation Bristol, VA | $55,479,136 | $5,807,937 |
Yung Family Foundation The Crestview Hills, KY | $4,438,622 | $34,262 |
Lang Rachel Boyce Charitable Trust Xxx-Xx-Xxxx Youngstown, OH | $0 | $17,968 |
J M Lockhart Lockhart J M Ally Herc Pittsburgh, PA | $71,861,137 | $5,661,653 |
John R Mccune Char Trust No 9721 Pittsburgh, PA | $72,660,293 | $3,170,444 |
Madeline Foundation Baltimore, MD | $27,935,341 | $684,991 |
College Properties Of Lorain County Inc Oberlin, OH | $42,105,647 | $1,116,823 |