Friends Of The Katy Trail Inc
- Assets
- $4.8m
- Revenue
- $2.7m
- Investments
- $912.7k
- Employees
- 9
- Location
- Dallas, TX
- Founding
- 09/1997
- Data as of
- 12/2023
- EIN
- 75-2708139
Organization Overview
Friends Of The Katy Trail Inc is located in Dallas, TX. The organization was established in 1997. According to its NTEE Classification (C30) the organization is classified as: Natural Resources Conservation & Protection, under the broad grouping of Environment and related organizations. As of 12/2023, Friends Of The Katy Trail Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of The Katy Trail 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, Friends Of The Katy Trail Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 5.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT, MAINTAIN, ENHANCE AND ADVOCATE FOR THE KATY TRAIL AS THE PREMIER TRAIL FOR RECREATION, WELLNESS, AND ALTERNATIVE TRANSPORTATION IN THE CITY OF DALLAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FRIENDS OF THE KATY TRAIL MAINTAINS AND ENHANCES THE KATY TRAIL FOR THE CITY OF DALLAS AND THE BENEFIT OF DALLAS CITIZENS AND VISITORS. FKT RAISES FUNDS FOR LANDSCAPE MAINTENANCE, LIGHTING, WATER, PRIVATE SECURITY, CONTINUED IMPROVEMENTS, AND MORE ON THE TRAIL. THE KATY TRAIL IS A TREASURED URBAN GREENSPACE AND SAW APPROXIMATELY 2.5 MILLION TRAIL VISITS IN 2023.
THE KATY TRAIL IS AN IMPORTANT ASSET FOR THE CITIZENS OF DALLAS AND A CRITICAL PART OF THE COMMUNITY. IN 2023, FKT FURTHER ACTIVATED OUR KATY TRAIL COMMUNITY BY BEGINNING QUARTERLY DALLAS ANIMAL SERVICES PET ADOPTIONS, HOSTING A SOLD-OUT KATY 5K, AND BRINGING CORPORATE WORK GROUPS TO VOLUNTEER ON THE TRAIL.
FRIENDS OF THE KATY TRAIL CONTINUES TO ENHANCE THE TRAIL WITH AMENITIES FOR ALL TRAIL USERS. 2023 BROUGHT THE INSTALLATION OF SEVERAL NEW BENCHES, A NEW BICYCLE REPAIR STATION, AND THE UT-SOUTHWESTERN FITNESS CENTER.
KATY TRAIL ART PARTNERS WITH DALLAS AREA MUSEUMS, ART COLLECTORS, AND THE COMMUNITY AT LARGE TO EXPAND THE ROLE OF CONTEMPORARY ART IN PUBLIC SPACES IN DALLAS. THE INITIATIVE BORROWS, COMMISSIONS, AND PRODUCES WORLD-CLASS ART PROJECTS ON AND AROUND THE KATY TRAIL TO INSPIRE CREATIVITY, SPARK CONVERSATION, ENCOURAGE SELF-REFLECTION, CHALLENGE ASSUMPTIONS, FOSTER COMMUNITY BUILDING AND PROMOTE CIVIC OWNERSHIP OF THE KATY TRAIL. KATY TRAIL ART INSTALLED TWO SCULPTURE SERIES IN 2023, BOTH HIGHLIGHTING TEXAS ARTISTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Blake Shipp President | OfficerTrustee | 3 | $0 |
Brian Callahan VP & Safety Chair | OfficerTrustee | 3 | $0 |
Cricket Griffin Secretary | OfficerTrustee | 3 | $0 |
Dan Chesnut Treasurer | OfficerTrustee | 3 | $0 |
Billy Hartwell Membership & Marketing Cha | OfficerTrustee | 3 | $0 |
Ruthie Shor Development Chair | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Land Patterns Inc Landscaping | 12/30/23 | $248,622 |
Stonewall Protection Group Llc Private Security | 12/30/23 | $123,665 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $266,599 |
| Fundraising events | $237,018 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,176,417 |
| Noncash contributions included in lines 1a–1f | $25,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,680,034 |
| Total Program Service Revenue | $0 |
| Investment income | $99,933 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $19,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $82,513 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,702,120 |
| 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. | $347,372 |
| Compensation of current officers, directors, key employees. | $43,974 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $232,544 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $499 |
| Payroll taxes | $43,229 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $39,827 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,130 |
| Advertising and promotion | $7,300 |
| Office expenses | $50,304 |
| Information technology | $27,952 |
| Royalties | $0 |
| Occupancy | $62,368 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,805 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $743 |
| Insurance | $34,175 |
| All other expenses | $0 |
| Total functional expenses | $1,505,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $199 |
| Savings and temporary cash investments | $3,490,798 |
| Pledges and grants receivable | $328,345 |
| 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 | $40,667 |
| Net Land, buildings, and equipment | $9,657 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $912,666 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,480 |
| Total assets | $4,825,812 |
| Accounts payable and accrued expenses | $126,604 |
| 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 | $42,341 |
| Total liabilities | $168,945 |
| Net assets without donor restrictions | $3,093,418 |
| Net assets with donor restrictions | $1,563,449 |
| 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 | $4,825,812 |