Troup Co Recreation Endowment Fund
- Assets
- $8.5m
- Revenue
- $83.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Lagrange, GA
- Founding
- 03/2002
- Data as of
- 06/2022
- EIN
- 58-6452519
Organization Overview
Troup Co Recreation Endowment Fund is located in Lagrange, GA. The organization was established in 2002. 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. Troup Co Recreation Endowment Fund 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 06/2022, Troup Co Recreation Endowment Fund generated $83.1k 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 (14.3%) each year. All expenses for the organization totaled $435.5k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE EXCLUSIVE PURPOSE OF THE TROUP COUNTY RECREATION ENDOWMENT FUND IS TO CONTRIBUTE TO AND SUPPORT THE EXPENSES OF TROUP COUNTY, GEORGIA (A RELATED PARTY) IN MAINTAINING PROPOSED RECREATIONAL ADDITIONS AND IMPROVEMENTS. TROUP COUNTY, GEORGIA HAS RECEIVED A PLEDGE FROM CALLAWAY FOUNDATION, INC. FOR 7,000,000, PAYABLE OVER A THREE YEAR PERIOD SUBJECT TO TROUP COUNTY, GEORGIA CREATING THE TROUP COUNTY RECREATION ENDOWMENT FUND TO HOLD AND MANAGE THE FUNDS. FIVE PERCENT OF THE FUND BALANCE WILL BE MADE AVAILABLE ANNUALLY TO TROUP COUNTY, GEORGIA TO PAY FOR THE OPERATING EXPENDITURES OF NEW RECREATIONAL FACILITIES TO BE BUILT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION TO TROUP COUNTY, GEORGIA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul S Penn III Chairman | OfficerTrustee | 1 | $0 |
Susan K Black Vice Chairma | OfficerTrustee | 1 | $0 |
Charles D Hudson Jr Trustee | Trustee | 1 | $0 |
Patrick Crews Trustee | Trustee | 1 | $0 |
Jerome Alford Trustee | Trustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $481,495 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$398,399 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $83,096 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $435,491 |
| 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 | $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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $435,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $8,535,541 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,535,541 |
| 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 | $0 |
| Net assets with donor restrictions | $8,535,541 |
| 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 | $8,535,541 |
Endowment Analysis
| Beg. Balance | $10,473,952 |
| Earnings | -$1,452,421 |
| Admin Expense | $50,499 |
| Grants | $435,491 |
| Ending Balance | $8,535,541 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Us National Whitewater Center Inc Charlotte, NC | $52,351,525 | $16,921,663 |
Lakeshore Park Conservancy Knoxville, TN | $19,542,630 | $6,010,930 |
Shelby Farms Park Conservancy Memphis, TN | $6,955,555 | $6,186,773 |
Lindsay Pettus Greenway Inc Lancaster, SC | $925,142 | $220,841 |
Florida National Parks Association Inc Homestead, FL | $3,062,017 | $4,575,628 |
Park Pride Inc Atlanta, GA | $9,014,464 | $8,316,780 |
Suncoast Aquatic Nature Center Associates Inc Sarasota, FL | $1,629,043 | $3,277,467 |
Piedmont Park Conservancy Inc Atlanta, GA | $4,575,541 | $3,976,026 |
Friends Of Great Smoky Mountain National Park Inc Kodak, TN | $24,666,709 | $4,762,551 |
Dorothea Dix Park Conservancy Raleigh, NC | $6,442,747 | $1,230,438 |
Friends Of The Warner Parks Inc Nashville, TN | $7,592,814 | $4,400,427 |
Vulcan Park Foundation Birmingham, AL | $2,896,411 | $2,429,688 |