Uakronpark Inc
- Assets
- $82.8m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 3
- Location
- Akron, OH
- Founding
- Data as of
- 12/2023
- EIN
- 93-2495826
Organization Overview
Uakronpark Inc is located in Akron, OH. As of 12/2023, Uakronpark Inc employed 3 individuals. Uakronpark Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF UAKRONPARK,INC. IS TO PARTNER WITH THE UNIVERSITY OF AKRON FOR ITS REPUTATIONAL ENHANCEMENT THROUGH THE MONETIZATION OF ITS PARKING FACILITIES AND THE STRATEGIC MANAGEMENT OF THESE AND RELATED ASSETS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS A NON-PROFIT ENTITY, UAKRONPARK IS DEDICATED TO THE LONG-TERM IMPROVEMENT AND SUSTAINABILITY OF THE UNIVERSITY'S PARKING FACILITIES. OVER THE COURSE OF THE CONCESSION, WE ARE COMMITTED TO INVESTING APPROXIMATELY $12 MILLION IN CAPITAL EXPENDITURES (CAPEX) WITHIN THE FIRST FIVE YEARS, FOCUSING ON SUBSTANTIAL UPGRADES AND ENHANCEMENTS TO THE PARKING INFRASTRUCTURE. THIS INITIAL INVESTMENT LAYS THE GROUNDWORK FOR ONGOING IMPROVEMENTS AND THE ADOPTION OF INNOVATIVE PARKING SOLUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Bridenstine President | OfficerTrustee | 0.5 | $0 |
Daniel Rice Vice President | OfficerTrustee | 0.5 | $0 |
Julie Wesel Secretary And Treasurer | OfficerTrustee | 0.5 | $0 |
Jared Coleman Executive Director | Trustee | 40 | $14,798 |
Financial Statements
| 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,289,278 |
| Investment income | $92,580 |
| 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 | $3,381,858 |
| 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. | $54,299 |
| Compensation of current officers, directors, key employees. | $38,100 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $225,902 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $60,758 |
| Payroll taxes | $17,927 |
| Fees for services: Management | $176,084 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $82,204 |
| Advertising and promotion | $451 |
| Office expenses | $0 |
| Information technology | $78,737 |
| Royalties | $0 |
| Occupancy | $33,957 |
| Travel | $8,248 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $402,964 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $141,448 |
| Insurance | $96,789 |
| All other expenses | $60,130 |
| Total functional expenses | $3,564,323 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $472,370 |
| Savings and temporary cash investments | $1,476,954 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $170,165 |
| 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 | $75,157 |
| Net Land, buildings, and equipment | $134,638 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $55,202,860 |
| Other assets | $25,239,548 |
| Total assets | $82,771,692 |
| Accounts payable and accrued expenses | $758,301 |
| Grants payable | $0 |
| Deferred revenue | $47,010 |
| Tax-exempt bond liabilities | $81,023,771 |
| 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 | $1,125,075 |
| Total liabilities | $82,954,157 |
| Net assets without donor restrictions | -$182,465 |
| Net assets with donor restrictions | $0 |
| 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 | $82,771,692 |