Civic Intelligence

Park 51 Inc

990 • Fiscal year 2023 • EIN 27-3321932

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

Organization ProfileN/A
362 Fifth AvenueNew York, NY 10001

(212) 966-9600

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

51st percentile

0.24x

Higher debt load relative to assets than 51% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

100th percentile

203.23x

Higher debt load relative to revenue than 100% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

1st percentile

-2096%

Higher net margin than 1% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

20th percentile

-2.4%

Faster asset growth than 20% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

42nd percentile

1.9%

Faster revenue growth than 42% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets51st percentile

Assets

Down

$31,917,013

Down $774,334 (-2.4%) from 2022

Net Assets

Down

$24,409,131

Down $774,334 (-3.1%) from 2022

Liabilities

Flat

$7,507,882

Flat from 2022

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Up

$36,942

Up $698 (+1.9%) from 2022

Expenses

Down

$811,276

Down $39,527 (-4.6%) from 2022

Net Income

Up

-$774,334

Up $40,225 (+4.9%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0-$10MAssets 2013: $10,196Liabilities 2013: $169,956Net Assets 2013: -$159,7602013Assets 2015: $638,961Liabilities 2015: $356Net Assets 2015: $638,6052015Assets 2016: $589,446Liabilities 2016: $4,500Net Assets 2016: $584,9462016Assets 2017: $579,396Liabilities 2017: $1,596Net Assets 2017: $577,8002017Assets 2018: $492,551Liabilities 2018: $2,845Net Assets 2018: $489,7062018Assets 2020: $450,079Liabilities 2020: $5,432Net Assets 2020: $444,6472020Assets 2021: $32,004,681Liabilities 2021: $6,006,657Net Assets 2021: $25,998,0242021Assets 2022: $32,691,347Liabilities 2022: $7,507,882Net Assets 2022: $25,183,4652022Assets 2023: $31,917,013Liabilities 2023: $7,507,882Net Assets 2023: $24,409,1312023Assets 2024: $31,870,686Liabilities 2024: $7,507,402Net Assets 2024: $24,363,2842024

Highlighted filing

2023

Assets$31,917,013
Liabilities$7,507,882
Net Assets$24,409,131
Open 2023 Filing

Operations Trend

Revenue Growth42nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MRevenue 2013: $181,583Expenses 2013: $75,125Net Income 2013: $106,4582013Revenue 2015: $28,266Expenses 2015: $217,237Net Income 2015: -$188,9712015Revenue 2016: $70,893Expenses 2016: $124,552Net Income 2016: -$53,6592016Revenue 2017: $53,464Expenses 2017: $60,611Net Income 2017: -$7,1472017Revenue 2018: $48,615Expenses 2018: $137,088Net Income 2018: -$88,4732018Revenue 2020: $10,370Expenses 2020: $55,691Net Income 2020: -$45,3212020Revenue 2021: $25,600,148Expenses 2021: $46,571Net Income 2021: $25,553,5772021Revenue 2022: $36,244Expenses 2022: $850,803Net Income 2022: -$814,5592022Revenue 2023: $36,942Expenses 2023: $811,276Net Income 2023: -$774,3342023Revenue 2024: $9,384Expenses 2024: $55,231Net Income 2024: -$45,8472024

Highlighted filing

2023

Revenue$36,942
Expenses$811,276
Net Income-$774,334
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$36,942
Mission and Program Overview

Mission

An organization of rising leaders that promotes the understanding of the muslim-american identify in the heart of america, through the vehicles of education, culture and recreation. The organization also seeks to be a

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$31,792,999$31,792,999→ $0
Prepaid Expenses and Deferred Charges$116,890$91,390▼ $25,500
Cash and Non-Interest-Bearing Accounts$81,488$32,624▼ $48,864
Total Assets$32,691,347$31,917,013▼ $774,334
Other Assets Total$699,970$0▼ $699,970
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,500,000$7,500,000→ $0
Accounts Payable and Accrued Expenses$7,882$7,882→ $0
Total Liabilities$7,507,882$7,507,882→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$25,183,465$24,409,131▼ $774,334
Total Net Assets Fund Balance$25,183,465$24,409,131▼ $774,334
Total Liabilities and Net Assets / Fund Balance$32,691,347$31,917,013▼ $774,334

Asset Categories

AssetBook ValueDepreciationBasis
Land$31,500,000-$31,500,000
Other Land Buildings$292,999-$292,999
Equipment$0$1,723$1,723
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Firoz ShaikhDirector
Masood Nabi QureshiDirector
Nour MousaDirector
Sammy El-gamalDirector
Sharif El-gamalDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$36,942
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-774,334

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$810,276
Grants and Similar Amounts Paid$1,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$0$396,470$0$396,470
All Other Expenses$52,262$326,242$0$378,504
Other Expenses$29,531$0$0$29,531
Fees for Services Legal$0$3,000$0$3,000
Fees for Services Management$0$1,115$0$1,115
Grants to Domestic Orgs$1,000--$1,000
Travel$343$0$0$343
Office Expenses$0$15$0$15
Total Functional Expenses$83,136$728,140$0$811,276
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Park 51 Inc
EIN
27-3321932
Phone
2129669600
Address
362 FIFTH AVENUE, NEW YORK, NY 10001

Signing Officer

Name
Sharif El-gamal
Title
Director
Phone
2129669600
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sharif El-gamal
Formed
2010
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
10

Preparer

Firm
Olsen Pearl & Olsen
Address
302 Bar Harbor Rd, Freehold, NJ 07728
Preparer
Shaun Olsen
Phone
6096475450
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Tax return will be provided upon request for any individual desiring a copy of the 990 and was provided to the board during a board meeting before the return was filed”

Form 990, Part III, Line 4D

“To foster coopration and understanding between people of all faiths and backgrounds through 0. 0. 0.”

Form 990, Part IX, Line 24E

“Advertising 1467. 0. 1467. 0.”

Form 990, Part IX, Line 24E

“Rent 76262. 52262. 24000. 0.”

Form 990, Part IX, Line 24E

“TAXES 775. 0. 775. 0.”

Form 990, Part IX, Line 24E

“Mortgage fees 300000. 0. 300000. 0.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO FOSTER COOPRATION AND UNDERSTANDING BETWEEN PEOPLE OF ALL FAITHS AND BACKGROUNDS THROUGH 0. 0. 0.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24e
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Freehold
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-15
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ReturnHeader/ReturnTs02024-11-15T06:33:14-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$31,917,013
Liabilities
$7,507,882
Net assets
$24,409,131
Revenue
$36,942
Expenses
$811,276
Net income
-$774,334
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.9$7.51$24.4$0.01$0.06$0.05
2023Detailed filing. Detailed filing data is available for this year.$31.9$7.51$24.4$0.04$0.81$0.77
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.7$7.51$25.2$0.04$0.85$0.81
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.0$6.01$26.0$25.6$0.05$25.6
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.45$0.01$0.44$0.01$0.06$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.49$0.00$0.49$0.05$0.14$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.58$0.00$0.58$0.05$0.06$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.59$0.00$0.58$0.07$0.12$0.05
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.64$0.00$0.64$0.03$0.22$0.19
2013Detailed filing. Detailed filing data is available for this year.$0.01$0.17$0.16$0.18$0.08$0.11