Flat Rock Park And Recreation Foundation Inc
- Assets
- $519.6k
- Revenue
- $182.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Flat Rock, NC
- Founding
- 07/2014
- Data as of
- 06/2022
- EIN
- 61-1717036
Organization Overview
Flat Rock Park And Recreation Foundation Inc is located in Flat Rock, NC. The organization was established in 2014. 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. Flat Rock Park And Recreation Foundation 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 06/2022, Flat Rock Park And Recreation Foundation Inc generated $182.0k 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 (13.7%) each year. All expenses for the organization totaled $69.0k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (21.0%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION WAS ESTABLISHED TO RAISE FUNDS TO ACQUIRE AMENITIES FOR THE PARK AT FLAT ROCK AND TO SUPPORT EDUCATIONAL AND RECREATIONAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTED FUNDS ARE TEMPORARILY RESTRICTED FOR USE IN REIMBURSING THE VILLAGE OF FLAT ROCK FOR ITS EXPENDITURES IN ACQUIRING AMENITIES FOR THE PARK AT FLAT ROCK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maurean Adams President | Officer | 10 | $0 |
Don Luy Vice-President | Officer | 6 | $0 |
Bill Hale Treasurer | Officer | 4 | $0 |
James Olson Seretary | Officer | 4 | $0 |
Dennis Flanagan Director | 2 | $0 | |
Bob Lane Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,245 |
| Related organizations | $0 |
| Government grants | $60,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $120,693 |
| Noncash contributions included in lines 1a–1f | $1,600 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $181,938 |
| Total Program Service Revenue | $0 |
| Investment income | $61 |
| 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 | $181,999 |
| 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 | $1,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $44,080 |
| 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 | $1,095 |
| All other expenses | $0 |
| Total functional expenses | $69,032 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $118,226 |
| Savings and temporary cash investments | $380,878 |
| Pledges and grants receivable | $20,000 |
| Accounts receivable, net | $469 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $519,573 |
| 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 | $514,403 |
| 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 | $519,573 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Flat Rock Park And Recreation Foundation Inc has recieved totaling $5,428.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $5,350 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $78 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lake Ridge Parks & Recreation Association Inc Lake Ridge, VA | $11,873,713 | $7,365,440 |
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 |
Park Pride Inc Atlanta, GA | $9,014,464 | $8,316,780 |
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 |
Columbia Memorial Park Inc Arlington, VA | $6,724,392 | $4,421,124 |
Friends Of The Warner Parks Inc Nashville, TN | $7,592,814 | $4,400,427 |
Sherwood Memorial Park Inc Salem, VA | $33,626,834 | $3,672,890 |
Legacy Liii Foundation Inc Atlanta, GA | $0 | $1,630,000 |