Lakeshore Park Conservancy
- Assets
- $34.5m
- Revenue
- $13.5m
- Investments
- $0.0
- Employees
- 9
- Location
- Knoxville, TN
- Founding
- 12/1996
- Data as of
- 06/2023
- EIN
- 62-1648241
Organization Overview
Lakeshore Park Conservancy is located in Knoxville, TN. The organization was established in 1996. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. As of 06/2023, Lakeshore Park Conservancy employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakeshore Park Conservancy 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 06/2023, Lakeshore Park Conservancy generated $13.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.6% each year . All expenses for the organization totaled $356.4k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT, CONSTRUCTION, AND OPERATION OF PARK, INCLUDING CONSTRUCTION OF FACILITIES IN ACCORDANCE WITH THE CORPORATION'S COMMUNITY OBJECTIVE OF PROVIDING PUBLIC RECREATION FACILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE PLANNING, DEVELOPMENT, CONSTRUCTION, AND ADMINISTRATION FOR THE PARK FACILITIES IN ACCORDANCE WITH ITS COMMUNITY OBJECTIVE OF PROVIDING RECREATION FACILITIES. IN FISCAL YEAR 2023, THE ORGANIZATION INCURRED AN ADDITIONAL 18,514,968 OF PROJECT EXPENDITURES RELATED TO THE DEVELOPMENT OF THE PARK. THESE EXPENDITURES ARE CONSIDERED PROGRAM RELATED, HOWEVER, THESE ARE CAPITALIZED AS PROGRAM CONSTRUCTION COSTS ON THE BALANCE SHEET UNTIL PROJECT COMPLETION. UPON COMPLETION OF EACH PROJECT, IT IS CONVEYED TO THE CITY OF KNOXVILLE AND RECOGNIZED AS PROGRAM EXPENSE. DURING FISCAL YEAR 2023, NO PROJECTS WERE COMPLETED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan B Haslam Chairman & P | OfficerTrustee | 1 | $0 |
Charles Anderson Jr Vice Preside | OfficerTrustee | $0 | |
L Caesar Stairiii Vice Preside | OfficerTrustee | 10 | $0 |
Thomas N Mcadams Secretary/tr | OfficerTrustee | 25 | $0 |
James A Haslamiii Director | Trustee | 1 | $0 |
Joe Armstrong Director | Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Denark Construction Inc Construction | 6/29/23 | $13,354,408 |
Nelsonbyrdwoltz Landscaping Archit Design Work | 6/29/23 | $1,516,931 |
Musco Sports Lighting Llc Sports Lighting | 6/29/23 | $475,767 |
Partners Development Project Mgmt | 6/29/23 | $366,171 |
Great Southern Recreation Playgrond Equip | 6/29/23 | $319,289 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $101,301 |
| Related organizations | $0 |
| Government grants | $4,362,211 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,789,152 |
| Noncash contributions included in lines 1a–1f | $28,494 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,252,664 |
| Total Program Service Revenue | $0 |
| Investment income | $5,457 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $192,721 |
| Net Gain/Loss on Asset Sales | -$405 |
| Net Income from Fundraising Events | $2,698 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,454,519 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $224,986 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,254 |
| Payroll taxes | $11,263 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,208 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,931 |
| Office expenses | $8,716 |
| 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 | $10,168 |
| Insurance | $11,031 |
| All other expenses | $0 |
| Total functional expenses | $356,441 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,463,088 |
| Savings and temporary cash investments | $852,054 |
| Pledges and grants receivable | $7,326,097 |
| 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 | $143,474 |
| Investments—publicly traded securities | $1,007,640 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,751,757 |
| Total assets | $34,544,110 |
| Accounts payable and accrued expenses | $2,229,359 |
| 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 | $848,501 |
| Total liabilities | $3,077,860 |
| Net assets without donor restrictions | $23,609,096 |
| Net assets with donor restrictions | $7,857,154 |
| 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 | $34,544,110 |