Park Family Foundation
- Assets
- $41.6m
- Revenue
- $1.5m
- Investments
- $32.1m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 05/2004
- Data as of
- 12/2021
- EIN
- 20-0791170
Organization Overview
Park Family Foundation is located in Cleveland, OH. The organization was established in 2004. 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 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, Park Family Foundation generated $1.5m 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 (10.4%) each year. All expenses for the organization totaled $3.4m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Park Family Foundation has awarded 128 individual grants totaling $6,908,320. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
THE PARK FOUNDATION DID NOT ENGAGE IN ANY DIRECT CHARITABLE ACTIVITIES DURING 2021
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ricky L Bertram Secretary | 4 | $0 | |
Dan K Park Vice President | 4 | $0 | |
Kelly C Park Vice President, Treasurer | 4 | $0 | |
Patrick M Park Vice President | 2 | $0 | |
Piper A Park Vice President | 2 | $0 | |
Raymond P Park President | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $200 |
| Interest on Savings | $0 |
| Dividends & Interest | $923,469 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $569,811 |
| Capital Gain Net Income | $569,811 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,493,480 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $68,771 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $160,471 |
| Total operating and administrative expenses | $229,242 |
| Contributions, gifts, grants paid | $3,177,570 |
| Total expenses and disbursements | $3,406,812 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $214,711 |
| Savings and temporary cash investments | $1,685,385 |
| Net Accounts receivable | $4,091 |
| 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 | $17,190,659 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $7,640,246 |
| Total assets | $41,606,960 |
| 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, Park Family Foundation has awarded $3,177,570 in support to 66 organizations.
| Grant Recipient | Amount |
|---|---|
Lake Oswego, OR PURPOSE: CHARITBLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $275,000 |
Las Vegas, NV PURPOSE: CHARITBLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $250,000 |
THE EDUCATION ALLIANCE PURPOSE: CHARITBLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $200,000 |
Las Vegas, NV PURPOSE: CHARITBLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $200,000 |
ALLEGHENY HEALTH NETWORK PURPOSE: CHARITBLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $100,000 |
CLASSIC CAR CLUB OF AMERICA MUSEUM INC PURPOSE: CHARITBLE CONTRIBUTION - GENERAL OPERATING SUPPORT | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
Carol Ann And Ralph V Haile Jr Foundation Cincinnati, OH | $318,390,176 | $10,905,260 |
Mathile Family Foundation Dayton, OH | $0 | $5,909,915 |
John W Anderson Foundation Valparaiso, IN | $342,409,938 | $34,395,256 |
Gilbert Fam Foundation Detroit, MI | $16,505,480 | $22,733,689 |
Herbert Simon Family Foundation Indianapolis, IN | $26,075,189 | $9,696,254 |
Richard And Helen Devos Foundation Grand Rapids, MI | $31,037 | $11,215,000 |
Huntington Foundation Columbus, OH | $456,967 | $10,970,786 |
Zachary Smith Reynolds Trust Pittsburgh, PA | $187,892,547 | $20,789,622 |
Franciscan Health Foundation Inc Mishawaka, IN | $46,155,507 | $9,741,999 |
Asante Foundation Inc South Bend, IN | $170,490,031 | $16,382,298 |
The Steve & Amy Van Andel Foundation Grand Rapids, MI | $111,040,892 | $8,504,096 |