Recoverypark
- Assets
- $1.3m
- Revenue
- $230.2k
- Investments
- $0.0
- Employees
- 8
- Location
- Detroit, MI
- Founding
- 07/2011
- Data as of
- 09/2021
- EIN
- 27-3051022
Organization Overview
Recoverypark is located in Detroit, MI. The organization was established in 2011. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2021, Recoverypark employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Recoverypark 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, Recoverypark generated $230.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (16.0%) each year. All expenses for the organization totaled $305.2k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (13.4%) per year over the past 7 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
RECOVERYPARK IS A PLANNED DEVELOPMENT IN THE CITY OF DETROIT THAT WILL INCLUDE URBAN FARMING, EDUCATION, AND COMMUNITY REDEVELOPMENT PROJECTS WITH AN EMPHASIS ON JOB CREATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECOVERYPARK HAS BEEN FORMED TO PLAN AND IMPLEMENT COMMUNITY REDEVELOPMENT PROJECTS WITH AN EMPHASIS ON JOB CREATION AND RE-PURPOSING VACANT OR BLIGHTED LAND, INITIALLY IN THE CITY OF DETROIT FOR URBAN FARMING AND AGRICULTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Wozniak President/board Member | OfficerTrustee | 40 | $23,545 |
Patrick Crosson Chair Of The Board | Trustee | 2 | $0 |
Michael Mcinerney Board Member | Trustee | 2 | $0 |
Steve Ebben Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,422 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$12,127 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $230,211 |
| Statement of Expenses | |
|---|---|
| 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 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 | $42,164 |
| Fees for services: Accounting | $14,604 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100,473 |
| Advertising and promotion | $163 |
| Office expenses | $6,936 |
| Information technology | $2,795 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,147 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $102,182 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,854 |
| Insurance | $5,095 |
| All other expenses | $0 |
| Total functional expenses | $305,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,133 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $624,158 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $29,763 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $500 |
| Total assets | $1,315,929 |
| Accounts payable and accrued expenses | $915,057 |
| 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 | $44,794 |
| Secured mortgages and notes payable | $447,585 |
| Unsecured mortgages and notes payable | $3,438,016 |
| Other liabilities | $20,542 |
| Total liabilities | $4,865,994 |
| Net assets without donor restrictions | -$3,550,065 |
| 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 |
| Total liabilities and net assets/fund balances | -$3,550,065 |