Parks Family Foundation
- Assets
- $572.0k
- Revenue
- $298.4k
- Investments
- $495.2k
- Employees
- 0
- Location
- Fullerton, CA
- Founding
- Data as of
- 12/2021
- EIN
- 86-1495137
Organization Overview
Parks Family Foundation is located in Fullerton, CA. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Parks Family Foundation 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 Family Foundation generated $298.4k in total revenue. The organization has seen a slow decline revenue. Over the past 2 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $23.4k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO HELP UNDERPRIVILEGED KIDS BY PROVIDING SCHOLARSHIP TO ACHIEVE THEIR GOAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kwang W Park President | 10 | $0 | |
Lina Park Secretary | 10 | $0 | |
Sang Hyuk Park CFO | 5 | $0 | |
Jin H Park Vice Preside | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $300,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$1,628 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $298,372 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $700 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,216 |
| Total operating and administrative expenses | $4,416 |
| Contributions, gifts, grants paid | $19,000 |
| Total expenses and disbursements | $23,416 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,800 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $495,156 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $571,956 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Parks Family Foundation has awarded $19,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HOME ON THE GREEN PASTURES PURPOSE: DONATION | $8,000 |
Fullerton, CA PURPOSE: DONATION | $6,000 |
YOUSTAR FOUNDATION PURPOSE: DONATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oprah Winfrey Leadership Academy Foundation Los Angeles, CA | $17,969,443 | $12,010,898 |
Wadhwani Operating Foundation Los Altos, CA | $0 | $65,339,394 |
Henry T Nicholas Education Foundation Inc Santa Ana, CA | $712,720 | $5,509,546 |
Chinese Character A Day Foundation Huntington Beach, CA | $0 | $31,765 |
Janie And Donald Friend Foundation San Francisco, CA | $0 | $1,186,592 |
Tomkat Ranch Educational Foundation Pescadero, CA | $1,784,473 | $4,660,042 |
Pacific Research Institute For Public Policy Pasadena, CA | $22,104,229 | $7,799,578 |
Ionetix Ppe Foundation San Francisco, CA | $0 | $4,350,988 |
Na Aina Kai Botanical Gardens Kilauea, HI | $76,195,065 | $4,390,722 |
Easton Sports Development Foundation Van Nuys, CA | $11,576,483 | $3,446,410 |
Lone Rock Foundation Santa Cruz, CA | $94,429,828 | $8,565,645 |
Maurice And Paul Marciano Art Foundation Beverly Hills, CA | $51,457,379 | $441,554 |