Adair Improvement Corporation Ii
- Assets
- $3.1m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 0
- Location
- San Jose, CA
- Founding
- Data as of
- 12/2022
- EIN
- 87-3173408
Organization Overview
Adair Improvement Corporation Ii is located in San Jose, CA. According to its NTEE Classification (N32) the organization is classified as: Parks & Playgrounds, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adair Improvement Corporation Ii is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ADAIR IMPROVEMENT CORPORATION II (AIC II) WAS ESTABLISHED WITH THE PURPOSE TO ACQUIRE, DEVELOP, MAINTAIN, AND IMPROVE A PARK IN SANTA CLARA COUNTY, CALIFORNIA WHICH IS OPEN TO THE PUBLIC FOR RECREATION, EDUCATION AND HEALTH. THE PARK WILL BE FUNDED WITH THE PROCEEDS FROM THE ESTATE OF VERNON ADAIR, WHICH IS IN THE PROCESS OF BEING SETTLED.
THE ADAIR IMPROVEMENT CORPORATION II (AIC II) WAS ESTABLISHED WITH THE PURPOSE TO ACQUIRE, DEVELOP, MAINTAIN, AND IMPROVE A PARK IN SANTA CLARA COUNTY, CALIFORNIA WHICH IS OPEN TO THE PUBLIC FOR RECREATION, EDUCATION AND HEALTH. THE PARK WILL BE FUNDED WITH THE PROCEEDS FROM THE ESTATE OF VERNON ADAIR, WHICH IS IN THE PROCESS OF BEING SETTLED.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stacy Panayotopoulos President | 1 | $0 | |
Leslee Hamilton Sec/treasurer | 1 | $0 | |
James Little Director | 1 | $50,000 | |
Stacy Panayotopoulos President | 1 | $0 | |
Leslee Hamilton Sec/treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,158,997 |
| Interest on Savings | $2,558 |
| Dividends & Interest | $0 |
| Net Rental Income | $17,500 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $17,500 |
| Total Revenue | $3,179,055 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $50,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $60 |
| Total operating and administrative expenses | $80,691 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $80,691 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,733,364 |
| 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 | $0 |
| Net Land, buildings, and equipment | $365,000 |
| Other assets | $0 |
| Total assets | $3,098,364 |
| 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 |