Park Foundation Inc
- Assets
- $374.2m
- Revenue
- $14.2m
- Investments
- $332.6m
- Employees
- 0
- Location
- Ithaca, NY
- Founding
- 01/1967
- Data as of
- 12/2022
- EIN
- 16-6071043
Organization Overview
Park Foundation Inc is located in Ithaca, NY. The organization was established in 1967. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Park Foundation 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 12/2022, Park Foundation Inc generated $14.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (13.3%) each year. All expenses for the organization totaled $34.7m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Park Foundation Inc has awarded 1,568 individual grants totaling $119,165,280. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adelaide P Gomer President | 10.06 | $50,000 | |
Alicia P Wittink Vice President | 9.26 | $50,000 | |
Donna F Edwards Director | 4.17 | $50,000 | |
Jay R Halfon Secretary/treasurer | 4.26 | $50,000 | |
Jerome B Libin Director | 3.47 | $50,000 | |
Rachel Leon Executive Director | 35 | $250,835 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $100 |
| Interest on Savings | $1,416,641 |
| Dividends & Interest | $2,229,141 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,049,990 |
| Capital Gain Net Income | $9,762,641 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,504,494 |
| Total Revenue | $14,200,366 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $250,000 |
| Other employee salaries and wages | $1,012,069 |
| Pension plans, employee benefits | $323,741 |
| Interest | $0 |
| Taxes | $163,591 |
| Depreciation | $72,557 |
| Occupancy | $182,532 |
| Travel, conferences, and meetings | $273,006 |
| Printing and publications | $0 |
| Other expenses | $180,756 |
| Total operating and administrative expenses | $5,397,817 |
| Contributions, gifts, grants paid | $29,344,575 |
| Total expenses and disbursements | $34,742,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $324,415 |
| Savings and temporary cash investments | $11,155,792 |
| Net Accounts receivable | $593,963 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $3,804,915 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $50,083 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $562,495 |
| Other assets | $25,160,486 |
| Total assets | $374,209,039 |
| Accounts payable and accrued expenses | $379,918 |
| Grants payable | $6,473,637 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $25,602,865 |
| Total liabilities | $32,456,420 |
Grants Awarded
Over the last fiscal year, Park Foundation Inc has awarded $37,858,981 in support to 506 organizations.
| Grant Recipient | Amount |
|---|---|
100REPORTERS PURPOSE: DOUBLE EXPOSURE INVESTIGATIVE FILM FESTIVAL AND SYMPOSIUM | $10,000 |
ACCELERATE CHANGE PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
ACTION CENTER ON RACE AND THE ECONOMY INSTITUTE PURPOSE: THE CLIMATE ORGANIZING HUB | $20,000 |
ACTION FOR THE CLIMATE EMERGENCY PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
ADVANCEMENT PROJECT PURPOSE: GENERAL OPERATING SUPPORT | $150,000 |
ADVOCACY CENTER PURPOSE: GENERAL OPERATING SUPPORT | $300 |