Gold Medal Park Conservancy
- Assets
- $3.9m
- Revenue
- $236.9k
- Investments
- $1.7m
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 10/2006
- Data as of
- 12/2021
- EIN
- 20-5016461
Organization Overview
Gold Medal Park Conservancy is located in Minneapolis, MN. The organization was established in 2006. 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. Gold Medal Park Conservancy 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, Gold Medal Park Conservancy generated $236.9k 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 (40.1%) each year. All expenses for the organization totaled $268.3k 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
EXPENSES RELATED TO LEASING DEVELOPING AND MAINTAINING LAND ON THE DOWNTOWN MINNEAPOLIS RIVERFRONT IN ORDER TO CREATE A PARK FOR THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William W Mcguire Dr President | 2 | $0 | |
Paul Reyelts Vice President | 2 | $0 | |
Mark Wilson Director | 1 | $0 | |
Judson Kim Bemis Director | 1 | $0 | |
Nadine M Mcguire Treasurer | 2 | $0 | |
Wendy Nelson Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $83,141 |
| Interest on Savings | $1,505 |
| Dividends & Interest | $56,652 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $95,578 |
| Capital Gain Net Income | $95,578 |
| Net ST Capital Gain | $4,444 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $236,876 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,789 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $253,354 |
| Total operating and administrative expenses | $268,258 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $268,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $100,146 |
| 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 | $2,108,146 |
| Investments—mortgage loans | $0 |
| Investments—other | $149,457 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,938,958 |
| 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 Recieved
Over the last fiscal year, we have identified 1 grants that Gold Medal Park Conservancy has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Minnesota Community Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Prospect Meadows Inc Marion, IA | $13,712,909 | $1,593,506 |
Friends Of@sauk Prairie Parks And Recreation Inc Sauk City, WI | $5,893,890 | $2,059,173 |
Ice Age Trail Alliance Cross Plains, WI | $12,975,124 | $3,561,895 |
Friends Of Hoyt Park Wauwatosa, WI | $6,559,517 | $1,528,114 |
Des Moines Water Works Park Foundation Des Moines, IA | $1,156,984 | $338,708 |
Minneapolis Parks Foundation Minneapolis, MN | $3,258,087 | $2,195,197 |
Camp Jorn Young Mens Christian Association Manitowish Waters, WI | $14,142,692 | $2,178,716 |
Great Bear Management Inc Sioux Falls, SD | $660,116 | $1,449,001 |
Fairfield Arts & Convention Center Fairfield, IA | $1,605,000 | $1,358,734 |
The Jonathan Association Chaska, MN | $1,721,909 | $960,898 |
Grand Forks Parks And Recreationfoundation Grand Forks, ND | $9,262,108 | $737,409 |
Superior Hiking Trail Association Two Harbors, MN | $964,345 | $917,726 |