Schaumburg Park Foundation
- Assets
- $395.9k
- Revenue
- $37.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Schaumburg, IL
- Founding
- 03/1982
- Data as of
- 12/2021
- EIN
- 36-3150457
Organization Overview
Schaumburg Park Foundation is located in Schaumburg, IL. The organization was established in 1982. According to its NTEE Classification (T30) the organization is classified as: Public 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. Schaumburg Park 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, Schaumburg Park Foundation generated $37.7k 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 (8.9%) each year. All expenses for the organization totaled $44.9k during the year ending 12/2021. 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
THE FOUNDATION RAISES FUNDS FOR PARK ENHANCEMENTS AND PROJECTS, AND TO PROVIDE FINANCIAL ASSISTANCE TO QUALIFYING PARK PATRONS AND STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT FOR EXPENDITURES TO THE SCHAUMBURG PARK DISTRICT TOWARD CONSTRUCTION OF SPRING VALLEY NATURE CENTER PARK EXPANSION.
SUPPORT FOR PARK DISTRICT PARTICIPANTS' FINANCIAL NEEDS INCLUDING FOR PROGRAM CHARGES, DAYCARE AND PRESCHOOL.
HALF YEAR SPONSOR FOR THE SCHAUMBURG TOWNSHIP ELEMENTARY SCHOOL FOUNDATION'S FOOD 4 THOUGHT PROGRAM WHICH PROVIDED BREAKFAST TO ALL QUALIFYING STUDENTS AT ALDRIN ELEMENTARY SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Trudel Vice Chairman | Trustee | 1 | $0 |
James Dolbeare Trustee | Trustee | 1 | $0 |
David Johnson Trustee | Trustee | 1 | $0 |
Kathy Longueil Secretary | Trustee | 1 | $0 |
Suzanne Poeschel Trustee | Trustee | 1 | $0 |
Matt Frank Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $5,533 |
| 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 | $5,533 |
| Total Program Service Revenue | $0 |
| Investment income | $764 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $31,411 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,708 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $43,849 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $706 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $44,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,094 |
| Savings and temporary cash investments | $52,619 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $250 |
| 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 | $0 |
| Net Land, buildings, and equipment | $316,250 |
| Investments—publicly traded securities | $6,706 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $395,919 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $72,963 |
| Net assets with donor restrictions | $322,956 |
| 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 | $395,919 |
Grants Awarded
Over the last fiscal year, Schaumburg Park Foundation has awarded $43,849 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SCHAUMBURG PARK DISTRICT PURPOSE: See Part IV | $38,849 |
Schaumburg, IL PURPOSE: See Part IV | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Schaumburg Park Foundation has recieved totaling $47.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $47 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vela Education Fund Glencoe, IL | $4,855,969 | $13,247,569 |
David Lynch Foundation For Consciousness-Based Education And Fairfield, IA | $9,280,358 | $8,736,448 |
Porter County Government Charitable Nonprofit Foundation Inc Valparaiso, IN | $195,277,590 | $7,720,193 |
Coxhealth Foundation Springfield, MO | $33,244,463 | $11,374,415 |
Bass Pro Shops & Cabelas Outdoor Fund Springfield, MO | $14,575,213 | $9,618,697 |
Community Foundation For The Land Of Lincoln Inc Springfield, IL | $62,800,465 | $16,636,147 |
Steve Stricker American Family Insurance Foundation Inc Madison, WI | $5,745,517 | $4,719,862 |
Chicago Cubs Charities Chicago, IL | $11,765,252 | $2,315,259 |
Delta Dental Of Illinois Foundation Naperville, IL | $25,024,389 | $3,455,775 |
Hope Gospel Mission Inc Eau Claire, WI | $10,860,307 | $6,194,588 |
Chicago Scholarship Fund Inc Chicago, IL | $0 | $5,200,805 |
Mercy Health Corporation Rockford, IL | $1,246,524,503 | $10,286,365 |