Foundation Of Shalom Park Inc
- Assets
- $31.3m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 33
- Location
- Charlotte, NC
- Founding
- 04/1982
- Data as of
- 12/2021
- EIN
- 58-1477833
Organization Overview
Foundation Of Shalom Park Inc is located in Charlotte, NC. The organization was established in 1982. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Foundation Of Shalom Park Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation Of Shalom 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 12/2021, Foundation Of Shalom Park Inc generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.9% each year . All expenses for the organization totaled $4.8m during the year ending 12/2021. While expenses have increased by 6.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO OWN, OPERATE, MAINTAIN, RENOVATE AND CONSTRUCT THE PROPERTIES & FACILITIES OF SHALOM PARK ON BEHALF OF THE JEWISH COMMUNITY.
Describe the Organization's Program Activity:
PROVIDES FACILITIES FOR THE RELIGIOUS, EDUCATIONAL, AND RECREATIONAL BENEFIT OF MEMBERS OF THE JEWISH COMMUNITY AND OTHER LOCAL RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Gorelick Vice President | OfficerTrustee | 10 | $0 |
Adam Bernstein Vice President | OfficerTrustee | 5 | $0 |
Richard Glaser President | OfficerTrustee | 25 | $0 |
Mark Stier Treasurer | OfficerTrustee | 5 | $0 |
Terri Beattie Executive Dir. | OfficerTrustee | 40 | $0 |
Jennifer Collman Secretary | OfficerTrustee | 1 | $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 | $618,394 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $618,394 |
| Total Program Service Revenue | $3,480,724 |
| Investment income | $146 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $4,099,264 |
| 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 | $2,414,569 |
| 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 | $79,913 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $841,096 |
| Insurance | $166,341 |
| All other expenses | $58,691 |
| Total functional expenses | $4,788,197 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,446,120 |
| Pledges and grants receivable | $10,000 |
| Accounts receivable, net | $511,696 |
| 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 | $74,643 |
| Net Land, buildings, and equipment | $18,501,607 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,804,482 |
| Total assets | $31,348,548 |
| Accounts payable and accrued expenses | $294,997 |
| Grants payable | $0 |
| Deferred revenue | $52,763 |
| 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 | $347,760 |
| Net assets without donor restrictions | $24,211,501 |
| Net assets with donor restrictions | $6,789,287 |
| 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 | $31,348,548 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Foundation Of Shalom Park Inc has recieved totaling $1,332,493.
| Awarding Organization | Amount |
|---|---|
United Jewish Charities Of Greater Charlotte Inc Charlotte, NC PURPOSE: Rent Subsidies for Jewish agencies | $478,422 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $430,940 |
Foundation For The Charlotte Jewish Community Charlotte, NC PURPOSE: CHARITABLE GIFT | $420,000 |
Salant Family Foundation Tr Eu R Salant Rev Tr Uad 102009 Kannapolis, NC PURPOSE: FURTHER EXEMPT FUNCTION | $500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $500 |
Barbara & Jerry Levin Charitable Foundation Charlotte, NC PURPOSE: GENERAL PURPOSE | $360 |
Endowment Analysis
| Beg. Balance | $9,307,733 |
| Earnings | $1,167,694 |
| Admin Expense | $79,913 |
| Other Expense | $420,000 |
| Ending Balance | $9,975,514 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Myers Park Country Club Inc Charlotte, NC | $50,316,696 | $16,086,490 |
Bellehaven Country Club Inc Alexandria, VA | $40,402,944 | $17,085,559 |
North Ridge Country Club Inc Raleigh, NC | $21,783,792 | $13,220,578 |
George Walton Academy Inc Monroe, GA | $18,498,422 | $12,032,755 |
Willow Oaks Country Club Inc Richmond, VA | $15,889,652 | $10,037,529 |
Forest Lake Club Columbia, SC | $17,782,694 | $10,657,455 |
Memphis Country Club Memphis, TN | $17,898,426 | $9,558,758 |
Eagle Point Golf Club Inc Wilmington, NC | $18,431,345 | $8,325,446 |
Dataw Island Club Inc Beaufort, SC | $27,067,751 | $8,525,272 |
Wade Hampton Golf Club Inc Cashiers, NC | $23,418,026 | $9,280,278 |
Kinloch Golf Association Corp ManakinSabot, VA | $45,313,161 | $8,251,750 |
Old Town Club Inc Winstonsalem, NC | $12,827,032 | $8,211,808 |