Civic Intelligence

Parks Area Foundation

990 • Fiscal year 2018 • EIN 31-1742335

Jan 01, 2018 to Dec 31, 2018 • Filed on May 14, 2019

Organization ProfileWWW.PARKSAREAFOUNDATION.ORG
PO Box 3323Des Moines, IA 50316

(515) 360-2529

Siviq Scores

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

Liabilities / Assets

70th percentile

0.28x

Higher debt load relative to assets than 70% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

92nd percentile

2.45x

Higher debt load relative to revenue than 92% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

76th percentile

19%

Higher net margin than 76% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

53rd percentile

1.8%

Faster asset growth than 53% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

2nd percentile

-80%

Faster revenue growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$1,398,395

Up $24,087 (+1.8%) from 2017

Net Assets

Up

$1,007,532

Up $36,478 (+3.8%) from 2017

Liabilities

Down

$390,863

Down $12,391 (-3.1%) from 2017

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin76th percentile

Revenue

Down

$159,220

Down $633,867 (-80%) from 2017

Expenses

Down

$129,542

Down $48,530 (-27%) from 2017

Net Income

Down

$29,678

Down $585,337 (-95%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

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

$1.5M$1.0M$500K$0Assets 2016: $766,473Liabilities 2016: $410,434Net Assets 2016: $356,0392016Assets 2017: $1,374,308Liabilities 2017: $403,254Net Assets 2017: $971,0542017Assets 2018: $1,398,395Liabilities 2018: $390,863Net Assets 2018: $1,007,5322018Assets 2019: $605,316Liabilities 2019: $0Net Assets 2019: $605,3162019Assets 2020: $602,181Liabilities 2020: $0Net Assets 2020: $602,1812020Assets 2021: $533,459Liabilities 2021: $1,788Net Assets 2021: $531,6712021Assets 2022: $645,118Liabilities 2022: $1,788Net Assets 2022: $643,3302022Assets 2023: $566,507Liabilities 2023: $1,788Net Assets 2023: $564,7192023Assets 2024: $540,168Liabilities 2024: $4,388Net Assets 2024: $535,7802024

Highlighted filing

2018

Assets$1,398,395
Liabilities$390,863
Net Assets$1,007,532
Open 2018 Filing

Operations Trend

Revenue Growth2nd percentile

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

$1.0M$500K$0-$500KRevenue 2016: $296,110Expenses 2016: $285,009Net Income 2016: $11,1012016Revenue 2017: $793,087Expenses 2017: $178,072Net Income 2017: $615,0152017Revenue 2018: $159,220Expenses 2018: $129,542Net Income 2018: $29,6782018Revenue 2019: -$43,210Expenses 2019: $363,811Net Income 2019: -$407,0212019Revenue 2020: $49,591Expenses 2020: $58,724Net Income 2020: -$9,1332020Revenue 2021: $7,460Expenses 2021: $81,118Net Income 2021: -$73,6582021Revenue 2022: $146,173Expenses 2022: $21,904Net Income 2022: $124,2692022Revenue 2023: -$60,413Expenses 2023: $18,198Net Income 2023: -$78,6112023Revenue 2024: -$7,103Expenses 2024: $21,836Net Income 2024: -$28,9392024

Highlighted filing

2018

Revenue$159,220
Expenses$129,542
Net Income$29,678
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 14, 2019
Return Version
2018v3.1
Gross Receipts
$159,220
Mission and Program Overview

Mission

Economic development in highland park, oak park, and union park area and promotion of historic redevelopment and educating public to benefits of community area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$650,994$1,010,923▲ $359,929
Savings and Temporary Cash Investments$624,542$313,617▼ $310,925
Cash and Non-Interest-Bearing Accounts$89,441$64,524▼ $24,917
Accounts Receivable$9,331$9,331→ $0
Total Assets$1,374,308$1,398,395▲ $24,087
Liabilities
Other Liabilities$224,365$224,365→ $0
Mortgage Notes Payable Secured by Investment Property$166,500$157,088▼ $9,412
Unsecured Notes Loans Payable$12,389$6,014▼ $6,375
Deferred Revenue-$3,396-
Total Liabilities$403,254$390,863▼ $12,391
Net Assets / Fund Balance
Unrestricted Net Assets$971,054$1,007,532▲ $36,478
Total Net Assets Fund Balance$971,054$1,007,532▲ $36,478
Total Liabilities and Net Assets / Fund Balance$1,374,308$1,398,395▲ $24,087

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$601,213$82,605-
Other Land Buildings$350,000--
Land$38,000--
Equipment$21,710$3,620-
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Rebecca Jo HarveyPresident
Ken BoatwrightVice President
Andy AndersonBoard Member
Bill WheelerBoard Member
Emily AndersonBoard Member
Gini WesternBoard Member
James MulliganBoard Member
Jeff GartonBoard Member
Joan PowellBoard Member
Kathleen ZiemerBoard Member
Marilee DawsonBoard Member
Phyllis WheelerBoard Member
Tom CulverBoard Member
Pam ThompsonSecretary
Bill ThompsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$109,258
Program Service Revenue
$49,931
Investment Income
$31
Other Revenue
$0
All Other Contributions
$61,464
Change in Net Assets
$29,678
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$129,542
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$15,401--$15,401
Office Expenses-$5,500-$5,500
Fees for Service Investment Mgmnt Fees-$5,231-$5,231
Other Expenses$52,587$3,525-$3,525
Insurance-$2,918-$2,918
Occupancy-$2,091-$2,091
Fees for Services Accounting-$1,823-$1,823
Advertising-$100-$100
Total Functional Expenses$107,701$21,841$0$129,542
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ror----
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Forgiveable Loan$224,365
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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

Governance Explanations

Officer directors etc family relationship Part VI line 2

“(two) husband/wife serve on board. (one) father/daughter serve on board. (one) mother/son serve on board.”

Form 990 governing body review Part VI line 11

“Draft of return is provided to board prior to filing and reviewed by the executive board.”

Conflict of interest policy compliance Part VI line 12C

“Annually all board and committee members of paf are required to identify any affiliation with any other agency in which there may be a conflict of interest. The form is updated and reviewed annually.”

Governing documents etc available to public Part VI line 19

“All documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Parks Area Foundation
EIN
31-1742335
Address
PO BOX 3323, DES MOINES, IA 50316

Signing Officer

Name
Jo Harvey
Title
Officer
Phone
5153331027
Signed
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ken Boatwright
Formed
1998
Legal Domicile
Ia
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
100

Preparer

Firm
Flagg & Company Cpas
Address
3737 WOODLAND AVENUE STE 410, WEST DES MOINES, IA 50266
Preparer
Michelle L Kilgore
Phone
5152438647
Supplemental Narrative

Additional Explanations

Unrelated business income explanation Part V line 3B

“Historic redevelopment and educating the public to benefits of community area.”

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IRS990/OtherExpensesGrp/Desc13600 6TH AVE EXP
IRS990/OtherExpensesGrp/Desc2FUNDRAISING
IRS990/OtherExpensesGrp/Desc3UNREALIZED LOSS ON INVEST
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0653
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13525
IRS990/OtherExpensesGrp/ProgramServicesAmt039713
IRS990/OtherExpensesGrp/ProgramServicesAmt152587
IRS990/OtherExpensesGrp/TotalAmt0653
IRS990/OtherExpensesGrp/TotalAmt139713
IRS990/OtherExpensesGrp/TotalAmt252587
IRS990/OtherExpensesGrp/TotalAmt33525
IRS990/OtherLiabilitiesGrp/BOYAmt0224365
IRS990/OtherLiabilitiesGrp/EOYAmt0224365
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0KEN BOATWRIGHT
IRS990/PriorPeriodAdjustmentsAmt06800
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/Desc03600 6TH ST
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt049931
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt049931
IRS990/ProgSrvcAccomActy2Grp/Desc0PARTICIPATION IN THE BEAUTIFICATION OF THE HIGHLAND PARK COMMUNITY.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0720801
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt07631
IRS990/PYOtherExpensesAmt0178072
IRS990/PYOtherRevenueAmt012651
IRS990/PYProgramServiceRevenueAmt052004
IRS990/PYRevenuesLessExpensesAmt0615015
IRS990/PYTotalExpensesAmt0178072
IRS990/PYTotalRevenueAmt0793087
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt029678
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt097725
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0624542
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0313617
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt061464
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0646405
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0161925
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt036641
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt019614
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0926049
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt031
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt07631
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt096
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt025
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0955
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt08738
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt047794
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt077163
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0124957
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt031
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt07631
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt096
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt025
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0955
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt08738
IRS990ScheduleA/InvestmentIncomeCYPct00.01000
IRS990ScheduleA/InvestmentIncomePYPct00.01000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99180
IRS990ScheduleA/PublicSupportPY509Pct00.99110
IRS990ScheduleA/PublicSupportTotal509Amt01051006
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0109258
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0723568
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0161925
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt036641
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt019614
IRS990ScheduleA/Total509Grp/TotalAmt01051006
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0109289
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0731199
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0162021
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt036666
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt020569
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01059744
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0601213
IRS990ScheduleD/BuildingsGrp/DepreciationAmt082605
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0683818
IRS990ScheduleD/EquipmentGrp/BookValueAmt021710
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03620
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt025330
IRS990ScheduleD/LandGrp/BookValueAmt038000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt038000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0350000
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0350000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0224365
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FORGIVEABLE LOAN
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01010923
IRS990ScheduleD/TotalLiabilityAmt0224365
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ROR
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HISTORIC REDEVELOPMENT AND EDUCATING THE PUBLIC TO BENEFITS OF COMMUNITY AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1(TWO) HUSBAND/WIFE SERVE ON BOARD. (ONE) FATHER/DAUGHTER SERVE ON BOARD. (ONE) MOTHER/SON SERVE ON BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DRAFT OF RETURN IS PROVIDED TO BOARD PRIOR TO FILING AND REVIEWED BY THE EXECUTIVE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUALLY ALL BOARD AND COMMITTEE MEMBERS OF PAF ARE REQUIRED TO IDENTIFY ANY AFFILIATION WITH ANY OTHER AGENCY IN WHICH THERE MAY BE A CONFLICT OF INTEREST. THE FORM IS UPDATED AND REVIEWED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Unrelated business income explanation Part V line 3b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01374308
IRS990/TotalAssetsEOYAmt01398395
IRS990/TotalAssetsGrp/BOYAmt01374308
IRS990/TotalAssetsGrp/EOYAmt01398395
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0109258
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt021841
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0107701
IRS990/TotalFunctionalExpensesGrp/TotalAmt0129542
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0403254
IRS990/TotalLiabilitiesEOYAmt0390863
IRS990/TotalLiabilitiesGrp/BOYAmt0403254
IRS990/TotalLiabilitiesGrp/EOYAmt0390863
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0971054

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,398,395
Liabilities
$390,863
Net assets
$1,007,532
Revenue
$159,220
Expenses
$129,542
Net income
$29,678
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.54$0.00$0.54$0.01$0.02$0.03
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.00$0.56$0.06$0.02$0.08
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.00$0.64$0.15$0.02$0.12
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.53$0.00$0.53$0.01$0.08$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.60$0.00$0.60$0.05$0.06$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.61$0.00$0.61$0.04$0.36$0.41
2018Detailed filing. Detailed filing data is available for this year.$1.40$0.39$1.01$0.16$0.13$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.37$0.40$0.97$0.79$0.18$0.62
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.41$0.36$0.30$0.29$0.01