Friends Of Recreation Inc is located in Palm Beach, FL. The organization was established in 2016. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, 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. Friends Of Recreation 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 09/2023, Friends Of Recreation Inc generated $293.8k 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 (25.0%) each year. All expenses for the organization totaled $66.2k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (38.7%) 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE OTO ENHANCE AND SUPPORT THE PUBLIC RECREATIONAL PROGRAMS AND FACILITIES IN THE TOWN OF PALM BEACH, PROMOTING COMMUNITY ENGAGEMENT AND WELLBEING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FINANCIAL SUPPORT TO THE TOWN OF PALM BEACH IN CONNECTION WITH THE MANDEL CENTER.
THE FRIENDS OF RECREATION IS COMMITTED TO ENHANCING EDUCATIONAL OPPORTUNITIES FOR CHILDREN OF TOWN EMPLOYEES. IN LINE WITH THIS MISSION, WE HAVE INVESTED SIGNIFICANTLY IN SCHOLARSHIPS FOR CAMP PALM BEACH. OVER THE PAST FOUR YEARS, A TOTAL OF $42,500 HAS BEEN ALLOCATED TO THIS INITIATIVE ($10,000 ANNUALLY FROM 2021 TO 2023, AND $12,500 IN 2024). THIS CONSISTENT FUNDING HAS ENABLED US TO OFFER $500 SCHOLARSHIPS TO EACH ELIGIBLE CHILD OF A TOWN EMPLOYEE DESIRING TO ATTEND CAMP PALM BEACH. OUR INVESTMENT REFLECTS OUR BELIEF IN THE LONG-TERM BENEFITS OF EARLY CHILDHOOD PROGRAMS. THESE PROGRAMS NOT ONLY OFFER IMMEDIATE ENRICHMENT BUT ALSO SET A FOUNDATION FOR SUCCESSFUL EDUCATIONAL AND PERSONAL DEVELOPMENT, HELPING PREVENT ADVERSE OUTCOMES IN ADULTHOOD. OUR CONTRIBUTION TO CAMP PALM BEACH UNDERSCORES OUR COMMITMENT TO FOSTERING A COMMUNITY WHERE EVERY CHILD HAS ACCESS TO QUALITY EARLY LEARNING EXPERIENCES.
THE FRIENDS OF RECREATION IS DEEPLY COMMITTED TO FOSTERING A SENSE OF COMMUNITY AND ENHANCING WELLNESS THROUGH RECREATIONAL ACTIVITIES. OVER THE PAST THREE YEARS, WE HAVE PROUDLY SPONSORED THE ANNUAL BIRTHDAY PARTY FOR THE MANDEL RECREATION CENTER. THIS EVENT, A CORNERSTONE OF OUR COMMUNITY-BUILDING EFFORTS, RECEIVES SUBSTANTIAL SUPPORT FROM US, WITH GRANTS TOTALING $20,000 OVER THIS PERIOD ($10,000 IN 2022, $5,000 IN 2023, AND $5,000 IN 2024). THESE GATHERINGS ARE MORE THAN JUST CELEBRATIONS; THEY SERVE AS VITAL PLATFORMS FOR COMMUNITY ENGAGEMENT, STRENGTHENING BONDS AMONG RESIDENTS, AND PROMOTING A SPIRIT OF TOGETHERNESS. ADDITIONALLY, WE HAVE INITIATED A "PARENTS NIGHT OUT" EVENT AT THE RECREATION CENTER. THIS INNOVATIVE PROGRAM ALLOWS PARENTS TO LEARN ABOUT VARIOUS RECREATIONAL PROGRAMS WHILE PROVIDING A SETTING FOR SOCIAL INTERACTION AND COMMUNITY FELLOWSHIP. THESE INITIATIVES UNDERSCORE OUR DEDICATION TO BUILDING A VIBRANT COMMUNITY CENTERED AROUND WELLNESS, RECREATION, AND MUTUAL SUPPORT.
THE FRIENDS OF RECREATION IS DEDICATED TO FOSTERING A HEALTHIER COMMUNITY FOR ALL RESIDENTS. RECOGNIZING THE BROAD-REACHING BENEFITS OF HEALTH INVESTMENTS, WE HAVE COMMITTED $25,000 TO THE CONSTRUCTION OF A NEW SHADE STRUCTURE AT THE MANDEL RECREATION CENTER. THIS STRATEGIC ALLOCATION SUPPORTS OUR GOAL OF ENHANCING COMMUNITY SPACES FOR HEALTH AND WELLNESS ACTIVITIES. THE SHADE STRUCTURE IS DESIGNED TO OFFER A COMFORTABLE AND SUN-PROTECTED SPACE, THEREBY FACILITATING A WIDER RANGE OF PROGRAMMING AND EVENTS. IT WILL SERVE AS A COOL RETREAT FOR SPECTATORS DURING ATHLETIC EVENTS AND PROVIDE A SAFE, SHADED AREA FOR CHILDREN PARTICIPATING IN SUMMER CAMP PROGRAMS. THIS PROJECT EPITOMIZES OUR COMMITMENT TO CREATING INCLUSIVE AND VERSATILE RECREATIONAL ENVIRONMENTS THAT CATER TO THE WELL-BEING OF OUR COMMUNITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Matthew Smith Chairman, Executive Comm M | OfficerTrustee | 1 | $0 |
Michael Ainslie Vice Chairman, Treasurer, | OfficerTrustee | 1 | $0 |
Darlene Jordan Vice Chairman, Executive C | OfficerTrustee | 1 | $0 |
Michael Kluger Executive Comm Member | Trustee | 1 | $0 |
Alicia Mullen Executive Comm Member | Trustee | 1 | $0 |
Robert Simses Executive Comm Member | Trustee | 1 | $0 |
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 | $276,669 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $276,669 |
Total Program Service Revenue | $0 |
Investment income | $17,089 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $293,758 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
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 | $23,038 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $26,071 |
Advertising and promotion | $0 |
Office expenses | $1,225 |
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 | $891 |
All other expenses | $0 |
Total functional expenses | $66,225 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $97,582 |
Savings and temporary cash investments | $67,969 |
Pledges and grants receivable | $23,091 |
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 | $9,482 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $796,058 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $994,182 |
Accounts payable and accrued expenses | $19,141 |
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 | $19,141 |
Net assets without donor restrictions | $151,400 |
Net assets with donor restrictions | $823,641 |
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 | $994,182 |