Civic Intelligence

Pierces Park Management Inc.

990 • Fiscal year 2020 • EIN 32-0377406

Jul 01, 2019 to Jun 30, 2020 • Filed on Apr 15, 2021

650 S Exeter St Suite 200Baltimore, MD 21202

(443) 743-3307

Siviq Scores

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

Liabilities / Assets

21st percentile

0.00x

Higher debt load relative to assets than 21% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

73rd percentile

0.38x

Higher debt load relative to revenue than 73% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

6th percentile

-58%

Higher net margin than 6% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Assets

$2,242,005

No earlier filing loaded for comparison.

Net Assets

$2,234,992

No earlier filing loaded for comparison.

Liabilities

$7,013

No earlier filing loaded for comparison.

Revenue

$18,590

No earlier filing loaded for comparison.

Expenses

$29,288

No earlier filing loaded for comparison.

Net Income

-$10,698

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2020: $2,242,005Liabilities 2020: $7,013Net Assets 2020: $2,234,9922020Assets 2021: $2,413,690Liabilities 2021: $0Net Assets 2021: $2,413,6902021Assets 2022: $2,310,490Liabilities 2022: $0Net Assets 2022: $2,310,4902022Assets 2023: $2,426,183Liabilities 2023: $18,269Net Assets 2023: $2,407,9142023Assets 2024: $2,596,302Liabilities 2024: $13,614Net Assets 2024: $2,582,6882024Assets 2025: $2,719,633Liabilities 2025: $24,134Net Assets 2025: $2,695,4992025

Highlighted filing

2020

Assets$2,242,005
Liabilities$7,013
Net Assets$2,234,992

Operations Trend

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

$150K$100K$50K$0-$50KRevenue 2020: $18,590Expenses 2020: $29,288Net Income 2020: -$10,6982020Revenue 2021: $29,493Expenses 2021: $15,698Net Income 2021: $13,7952021Revenue 2022: $66,594Expenses 2022: $16,096Net Income 2022: $50,4982022Revenue 2023: $53,437Expenses 2023: $17,573Net Income 2023: $35,8642023Revenue 2024: $79,276Expenses 2024: $24,104Net Income 2024: $55,1722024Revenue 2025: $111,758Expenses 2025: $40,985Net Income 2025: $70,7732025

Highlighted filing

2020

Revenue$18,590
Expenses$29,288
Net Income-$10,698
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Apr 15, 2021
Return Version
2019v5.0
Gross Receipts
$35,759
Mission and Program Overview

Mission

Pierce's Park Management, Inc. was formed to oversee construction, maintain, and operate a park in the City of Baltimore for the use and benefit of the general public.

Maintenance and operation of Pierce's Park located at Baltimore's Inner Harbor

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,535,062$1,535,062→ $0
Investments in Publicly Traded Securities$630,054$674,376▲ $44,322
Cash and Non-Interest-Bearing Accounts$68,078$32,567▼ $35,511
Total Assets$2,233,194$2,242,005▲ $8,811
Liabilities
Accounts Payable and Accrued Expenses$15,348$7,013▼ $8,335
Total Liabilities$15,348$7,013▼ $8,335
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,217,846$2,234,992▲ $17,146
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$2,217,846$2,234,992▲ $17,146
Total Liabilities and Net Assets / Fund Balance$2,233,194$2,242,005▲ $8,811

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,535,062$0$1,535,062
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Equipment$0$0$0
Compensation and Service Providers

Board Members and Trustees

NameTitle
Emily Flanigan HillerDirector
Pierce Flanigan IVDirector
Laurie B SchwartzExecutive Director
Susan FlaniganSecretary
Ira WeinsteinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$18,590
Other Revenue
$0
Change in Net Assets
$-10,698
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$29,288
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
Fees for Services Other$18,569--$18,569
Insurance-$8,450-$8,450
Fees for Services Accounting-$1,915-$1,915
Office Expenses$180--$180
Fees for Service Investment Mgmnt Fees-$125-$125
All Other Expenses-$49-$49
Total Functional Expenses$18,749$10,539$0$29,288
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
Backup withholding compliance
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
Yes
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

Form 990, Part VI, Section A, Line 2

Pierce Flanigan IV and Emily Flanigan Hiller are siblings. Susan Flanigan is the mother of Pierce Flanigan and Emily Flanigan Hiller. The Flanigan family owns P. Flanigan & Sons, which has been reimbursed for expenses. No compensation or fee has been paid to P. Flanigan & Sons. These directors recuse themselves on any matters that could have the appearance of self-dealing or conflicts of interest, which is consistent with the organization's policies.

Form 990, Part VI, Section A, Line 6

Waterfront Partnership of Baltimore, Inc. is the sole member of Pierce's Park Management, Inc.

Form 990, Part VI, Section A, Line 7A

Pierce's Park Management, Inc. (PPMI) is controlled by Waterfront Partnership of Baltimore, Inc. (WPB.) WPB is responsible for electing the members of the PPMI board of directors. See Schedule R for additional information.

Form 990, Part VI, Section B, Line 11B

Form 990 is furnished to the Chairperson, Secretary, and Treasurer for review prior to filing. Other board members are notified that Form 990 is available for review on request.

Form 990, Part VI, Section B, Line 12C

Board members are required to complete an annual written disclosure in standard form designed to elicit information about conflicts of interest. The disclosures are reviewed by the Executive Director. Any potential conflicts are brought to the attention of the Board of Directors for resolution or mitigation.

Form 990, Part VI, Section B, Line 15

Board members serve without compensation. At the present time, the President of Waterfront Partnership of Baltimore, Inc., a related organization, serves as Executive Director without any additional compensation.

Form 990, Part VI, Section C, Line 19

Forms 1023 and 990 and other items describes on line 19 are available on request by contacting the Executive Director. Copies may be provided or may be viewed by appointment. Articles of Incorporation may be viewed on a website maintained by the State of Maryland, Department of Assessments and Taxation. No requests were made during the year covered by this tax return.

Filing and Contact Details

Filer

Filer Name
Pierces Park Management Inc
EIN
32-0377406
Phone
4437433307
Address
650 S Exeter St Suite 200, Baltimore, MD 21202

Signing Officer

Name
Laurie B Schwartz
Title
Executive Director
Phone
4437433310
Signed
2021-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laurie B Schwartz
Formed
2010
Legal Domicile
Md
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Philip Symonds CPA
Address
2100 Southcliff Drive, Baltimore, MD 21209
Preparer
Philip Symonds
Phone
4436290350
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Expenses for landscaping and landscape maintenance.

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IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt00
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt01535062
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01535062
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01535062
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Pierce Flanigan IV and Emily Flanigan Hiller are siblings. Susan Flanigan is the mother of Pierce Flanigan and Emily Flanigan Hiller. The Flanigan family owns P. Flanigan & Sons, which has been reimbursed for expenses. No compensation or fee has been paid to P. Flanigan & Sons. These directors recuse themselves on any matters that could have the appearance of self-dealing or conflicts of interest, which is consistent with the organization's policies.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Waterfront Partnership of Baltimore, Inc. is the sole member of Pierce's Park Management, Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Pierce's Park Management, Inc. (PPMI) is controlled by Waterfront Partnership of Baltimore, Inc. (WPB.) WPB is responsible for electing the members of the PPMI board of directors. See Schedule R for additional information.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 990 is furnished to the Chairperson, Secretary, and Treasurer for review prior to filing. Other board members are notified that Form 990 is available for review on request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Board members are required to complete an annual written disclosure in standard form designed to elicit information about conflicts of interest. The disclosures are reviewed by the Executive Director. Any potential conflicts are brought to the attention of the Board of Directors for resolution or mitigation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Board members serve without compensation. At the present time, the President of Waterfront Partnership of Baltimore, Inc., a related organization, serves as Executive Director without any additional compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Forms 1023 and 990 and other items describes on line 19 are available on request by contacting the Executive Director. Copies may be provided or may be viewed by appointment. Articles of Incorporation may be viewed on a website maintained by the State of Maryland, Department of Assessments and Taxation. No requests were made during the year covered by this tax return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Expenses for landscaping and landscape maintenance.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 11g
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0Waterfront Partnership of Baltimore Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Waterfront Partnership of Baltimore Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0203682821
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Maintenance of Baltimore's Inner Harbor
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0170(b)(1)(A)(vi)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0650 S Exeter St
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine2Txt0Suite 200
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Baltimore
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd021202
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/SupplementalInformationDetail/ExplanationTxt0Waterfront Partnership of Baltimore, Inc. is the sole member of Pierce's Park Management, Inc. and is responsible for electing the board of directors. As such, it controls Pierce's Park Management, Inc. The Waterfront Partnership of Baltimore, Inc. maintains the promenade at Baltimore's Inner Harbor. Pierce's Park is located within the area for which Waterfront Partnership of Baltimore, Inc. is responsible. The controlling/controlled relationship is a natural one that is mutually beneficial and advantageous.
IRS990ScheduleR/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule R, Part III
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt10
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Co-located offices are contributed
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1Work contributed.
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Waterfront Partnership of Baltimore Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Waterfront Partnership of Baltimore Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0n
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1o
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02233194
IRS990/TotalAssetsEOYAmt02242005
IRS990/TotalAssetsGrp/BOYAmt02233194
IRS990/TotalAssetsGrp/EOYAmt02242005
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010539
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt018749
IRS990/TotalFunctionalExpensesGrp/TotalAmt029288
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt015348
IRS990/TotalLiabilitiesEOYAmt07013
IRS990/TotalLiabilitiesGrp/BOYAmt015348
IRS990/TotalLiabilitiesGrp/EOYAmt07013
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02217846
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02234992
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt018749
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00

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