Canal Park Inc
- Assets
- $13.3m
- Revenue
- $152.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 10/2009
- Data as of
- 09/2021
- EIN
- 27-0919952
Organization Overview
Canal Park Inc is located in Washington, DC. The organization was established in 2009. 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. Canal Park 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 09/2021, Canal Park Inc generated $152.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (12.3%) each year. All expenses for the organization totaled $1.4m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (7.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CANAL PARK IS A PUBLIC PARK IN THE CAPITOL RIVERFRONT NEIGHBORHOOD OF DC AND IS DEDICATED TO PROVIDING A SUSTAINABLE AND GREEN GATHERING PLACE FOR NEIGHBORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William C Smith Jr Chairperson | OfficerTrustee | 0.5 | $0 |
Terry Beauford Treasurer | OfficerTrustee | 0.5 | $0 |
Bradley Fennell Secretary | OfficerTrustee | 0.5 | $0 |
Chris Vanarsdale Board Member | Trustee | 0.5 | $0 |
Janet Weston Board Member | Trustee | 0.5 | $0 |
Michael Stevens Board Member | Trustee | 0.5 | $0 |
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 | $25,551 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $126,841 |
| 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 | $152,392 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,419 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,910 |
| Advertising and promotion | $0 |
| Office expenses | $12,394 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,326,780 |
| Insurance | $21,737 |
| All other expenses | $0 |
| Total functional expenses | $1,432,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $210,421 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,437 |
| 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 | $1,803 |
| Net Land, buildings, and equipment | $12,943,644 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $79,865 |
| Total assets | $13,259,170 |
| Accounts payable and accrued expenses | $56,265 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $13,679 |
| Total liabilities | $69,944 |
| Net assets without donor restrictions | $13,189,226 |
| 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 | $13,259,170 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Canal Park Inc has recieved totaling $6,400.
| Awarding Organization | Amount |
|---|---|
Near Southeast Community Partners Washington, DC PURPOSE: KIDS PROGRAMMING | $6,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kaboom Inc Washington, DC | $33,837,191 | $27,499,929 |
Lake Ridge Parks & Recreation Association Inc Lake Ridge, VA | $11,873,713 | $7,365,440 |
National Parking Association Inc Washington, DC | $2,660,652 | $3,146,199 |
Parks & People Foundation Inc Baltimore, MD | $15,484,458 | $3,287,882 |
Columbia Memorial Park Inc Arlington, VA | $6,724,392 | $4,421,124 |
Noma Parks Foundation Washington, DC | $2,013,037 | $1,761,991 |
Sherwood Memorial Park Inc Salem, VA | $33,626,834 | $3,672,890 |
Glen Echo Park Partnership For Arts And Culture Inc Glen Echo, MD | $3,207,061 | $1,803,627 |
Canal Park Inc Washington, DC | $13,259,170 | $152,392 |
Friends Of Fort Dupont Ice Arena Inc Washington, DC | $1,110,466 | $1,000,688 |
Shenandoah National Park Association Luray, VA | $2,021,876 | $1,337,074 |
Cedar Lane Sports Foundation Inc Churchville, MD | $1,172,740 | $1,050,470 |