Civic Intelligence

Friends of Balboa Park

990 • Fiscal year 2023 • EIN 33-0849518

Jul 01, 2022 to Jun 30, 2023 • Filed on Dec 18, 2023

1549 El Prado Suite 1San Diego, CA 92101

(619) 232-2282

Siviq Scores

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

Liabilities / Assets

36th percentile

0.08x

Higher debt load relative to assets than 36% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

50th percentile

0.25x

Higher debt load relative to revenue than 50% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

39th percentile

0.3%

Higher net margin than 39% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

68th percentile

$241,829

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 6.3% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

31st percentile

0.4%

Faster asset growth than 31% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

26th percentile

-8.8%

Faster revenue growth than 26% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Up

$11,495,056

Up $50,549 (+0.4%) from 2022

Net Assets

Down

$10,546,996

Down $11,151 (-0.1%) from 2022

Liabilities

Up

$948,060

Up $61,700 (+7.0%) from 2022

Revenue

Down

$3,866,407

Down $372,265 (-8.8%) from 2022

Expenses

Up

$3,853,966

Up $648,466 (+20%) from 2022

Net Income

Down

$12,441

Down $1,020,731 (-99%) from 2022

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2013: $867,901Liabilities 2013: $16,993Net Assets 2013: $850,9082013Assets 2014: $925,268Liabilities 2014: $18,859Net Assets 2014: $906,4092014Assets 2015: $3,156,001Liabilities 2015: $178,058Net Assets 2015: $2,977,9432015Assets 2017: $5,539,244Liabilities 2017: $1,121,226Net Assets 2017: $4,418,0182017Assets 2018: $5,681,442Liabilities 2018: $750,897Net Assets 2018: $4,930,5452018Assets 2019: $5,975,396Liabilities 2019: $223,842Net Assets 2019: $5,751,5542019Assets 2020: $6,638,333Liabilities 2020: $394,800Net Assets 2020: $6,243,5332020Assets 2021: $7,367,517Liabilities 2021: $377,624Net Assets 2021: $6,989,8932021Assets 2022: $11,444,507Liabilities 2022: $886,360Net Assets 2022: $10,558,1472022Assets 2023: $11,495,056Liabilities 2023: $948,060Net Assets 2023: $10,546,9962023Assets 2024: $11,626,250Liabilities 2024: $506,643Net Assets 2024: $11,119,6072024Assets 2025: $14,415,037Liabilities 2025: $671,925Net Assets 2025: $13,743,1122025

Highlighted filing

2023

Assets$11,495,056
Liabilities$948,060
Net Assets$10,546,996

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0Revenue 2013: $394,947Expenses 2013: $383,345Net Income 2013: $11,6022013Revenue 2014: $415,477Expenses 2014: $359,976Net Income 2014: $55,5012014Revenue 2015: $2,490,145Expenses 2015: $461,250Net Income 2015: $2,028,8952015Revenue 2017: $2,338,883Expenses 2017: $529,099Net Income 2017: $1,809,7842017Revenue 2018: $1,339,211Expenses 2018: $826,685Net Income 2018: $512,5262018Revenue 2019: $1,396,127Expenses 2019: $681,199Net Income 2019: $714,9282019Revenue 2020: $1,369,227Expenses 2020: $942,574Net Income 2020: $426,6532020Revenue 2021: $1,947,562Expenses 2021: $1,268,818Net Income 2021: $678,7442021Revenue 2022: $4,238,672Expenses 2022: $3,205,500Net Income 2022: $1,033,1722022Revenue 2023: $3,866,407Expenses 2023: $3,853,966Net Income 2023: $12,4412023Revenue 2024: $4,802,781Expenses 2024: $4,328,945Net Income 2024: $473,8362024Revenue 2025: $6,815,887Expenses 2025: $4,493,305Net Income 2025: $2,322,5822025

Highlighted filing

2023

Revenue$3,866,407
Expenses$3,853,966
Net Income$12,441
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Dec 18, 2023
Return Version
2022v5.0
Gross Receipts
$4,183,040
Mission and Program Overview

Mission

To promote, manage, raise and distribute funds and resources for public education & awareness of San Diegos Balboa Park including capital projects & public programs that rasise the Parks profile in the community.

To sustain, envision, and enhance Balboa Park for all in partnership with the City of San Diego and in collaboration with other organizations in the Park and the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,389,179$3,292,401▲ $1,903,222
Investments in Publicly Traded Securities$2,140,925$2,892,615▲ $751,690
Cash and Non-Interest-Bearing Accounts$3,048,714$794,254▼ $2,254,460
Pledges and Grants Receivable$1,417,070$726,093▼ $690,977
Land, Buildings, and Equipment, Net$143,980$548,035▲ $404,055
Accounts Receivable$114,969$111,600▼ $3,369
Inventories for Sale or Use$82,879$100,249▲ $17,370
Prepaid Expenses and Deferred Charges$15,218$11,495▼ $3,723
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Total Assets$11,444,507$11,495,056▲ $50,549
Other Assets Total$3,091,573$3,018,314▼ $73,259
Liabilities
Accounts Payable and Accrued Expenses$345,546$692,977▲ $347,431
Other Liabilities$283,946$253,413▼ $30,533
Deferred Revenue$256,868$1,670▼ $255,198
Total Liabilities$886,360$948,060▲ $61,700
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,877,756$5,571,174▼ $306,582
Net Assets Without Donor Restrictions$4,680,391$4,975,822▲ $295,431
Total Net Assets Fund Balance$10,558,147$10,546,996▼ $11,151
Total Liabilities and Net Assets / Fund Balance$11,444,507$11,495,056▲ $50,549

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$440,289$85,276$525,565
Leasehold Improvements$88,041$263,994$352,035
Other Land Buildings$19,705$59,319$79,024
Other Assets Org$2,665,745--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$2,459,639-▼ $13,008$14,266$2,432,365
2021$2,804,129$71,817▼ $313,829$102,478$2,459,639
2020$2,674,971$25,000▲ $185,450$81,292$2,804,129
2019$2,522,840$1,186▲ $253,877$102,932$2,674,971
2018$2,378,219$2,130▲ $240,647$98,156$2,522,840
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Elizabeth BabcockPresident & CEOFT$217,591$24,238$241,829
Jacqueline HigginsVP PlanningFT$122,650$13,514$136,164
Sarah BeckmanVP Inst AdvanceFT$123,392$6,434$129,826
Elizabeth PorterVP of FinanceFT$93,696$19,081$112,777

Board Members and Trustees

NameTitle
Doug KernerChair
Victoria HamiltonChair Elect
Connie MatsuiImm Past Chair
Sarah EvansImm Past Chair
Allison RossettDirector
Amy DawsonDirector
Ann WilsonDirector
Betty PeabodyDirector
Emily FoxDirector
Gaidi FinnieDirector
George HardyDirector
Glenn RossmanDirector
Gonzalo RojasDirector
Jack CarpenterDirector
James HughesDirector
John TomanDirector
Jonathan ShulmanDirector
Joyce GattasDirector
Joye BlountDirector
Ken TranbargerDirector
Kerri KapichDirector
Lucy WarrenDirector
Lynn LangleyDirector
Maureen LambertiDirector
Michael YeeDirector
Monica MrozDirector
Patrick CaugheyDirector
Pemberton SmithDirector
Pete WheelerDirector
john venekampDirector
Allison SoaresTreas/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,826,752
Program Service Revenue
$619,889
Investment Income
$108,285
Other Revenue
$1,311,481
All Other Contributions
$1,537,803
Change in Net Assets
$12,441

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,860,532
Revenue Not Reported on Financial Statements
$5,875
Revenue Not Reported on Form 990
$275,286
Total Revenue per Audited Statements
$4,135,818
Total Revenue per Form 990
$3,866,407
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,007,630
Salaries, Compensation, and Employee Benefits$1,846,336
Total Fundraising Expense$542,738
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$883,787$10,845$218,735$1,113,367
Current Officers, Directors, Trustees, and Key Employees$62,000$201,419$155,000$418,419
All Other Expenses$225,604$40,955$80,095$346,654
Occupancy$257,872--$257,872
Other Employee Benefits$93,967$21,089$37,132$152,188
Payroll Taxes$100,455$23,847$-621$123,681
Other Expenses$111,747$508$479$112,734
Information Technology$24,748$8,396$13,074$46,218
Pension Plan Contributions$23,883$5,360$9,438$38,681
Insurance$7,543$28,400-$35,943
Depreciation Depletion$20,800$2,783$3,057$26,640
Fees for Services Accounting-$20,385-$20,385
Office Expenses$9,684$303$282$10,269
Total Functional Expenses$2,891,277$419,951$542,738$3,853,966

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,146,969
Expenses per Audited Statements$3,853,966
Total Expenses per Form 990$3,853,966
Expenses Not Reported on Form 990$293,003
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$23,630
Fundraising Gross Income$7,660
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Sparks Awards$40,497$7,660$23,630$-15,970
Total Events$40,497$7,660$23,630$-15,970
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Custodial Funds$253,413
Governance and Compliance

Governance Checklist

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

Board of trustees immediate past chair, connie matsui, has a family relationship with highly compensated employee, sarah beckman.

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

The form 990 is first presented to the audit committee. The audit committee presents the form 990 to the full board of trustees. In each case the committee/board receives the form 990 in advance of the meeting.

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

An annual Conflict of Interest Policy and Disclosure Form is required to be reviewed and signed by all Board Members.

Form 990, Part VI, Section B, Line 15A

The CEO's performance is reviewed annually by the Executive Committee, with input from the entire Board of Trustees.

Form 990, Part VI, Section C, Line 19

All governing documents, financial statements, and other public documents are available for inspection at the organization's office upon request.

Filing and Contact Details

Filer

Filer Name
Forever Balboa Park
EIN
33-0849518
Phone
6192322282
Address
1549 El Prado Suite 1, SAN DIEGO, CA 92101

Signing Officer

Name
Elizabeth Babcock
Title
President & CEO
Signed
2023-12-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Babcock
Formed
1999
Legal Domicile
CA
Voting Board Members
32
Independent Board Members
31
Employees
56
Volunteers
300

Preparer

Firm
Leaf & Cole LLP
Address
2810 Camino Del Rio South Suite 200, San Diego, CA 92108
Preparer
Latonya M Knox
Phone
6192947200
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

OTHER PROGRAM SERVICES 4: Parkwide VolunteersThe Organization recruits, trains, and retains volunteers to support an array of Park needs, from horticulture to visitor experience. Growing to more than 300 volunteers strong, current programs include: Park Ambassadors, Tree Stewards, Tree Maintenance Volunteers, Garden Stewards, Rose Garden Corps, Tour Guides, and Information Desk Volunteers. Volunteers perform vital functions within the Park, and the program is certified by the Points of Light Foundation as an official Service Enterprise organization, one of only 11% nonprofits nationwide. OTHER PROGRAM SERVICES 5: Park ActivationThe Organization supports the Citys Parks and Recreation Department in placemaking and Park activation endeavors, including parkwide tours, clean-ups, community tree plantings, and provisioning of volunteers for visitor services for December Nights. In addition to events, the Organization works with other Park stakeholders to provide important infrastructure and programming that supports community connection in public spaces. The Organization hosts high school and college level interns each year, engaging them in workforce training on landscape architecture, GIS and mapping, marketing and communications, and leadership development skills. The Organization also partners with other Park organizations to support field trip programs and summer camp programs with tours and training orientations. OTHER PROGRAM SERVICES 6: Park Improvement:The Organizations process for selecting Park Improvement programs and capital improvement projects includes regular collaboration with, and ongoing input from, Park stakeholders and the City. The Organizations lead programs and projects that sustain and enhance the Park include the following initiatives: Urban Forest Initiative - a comprehensive tree inventory, site-specific tree plantings, sapling distribution programs, and a grant-funded initiative to plant hundreds of trees in the Park, while engaging youth and community members in learning more about caring for the Parks urban forest.Wayfinding and Signage - implementation of recommendations for a comprehensive wayfinding strategy to improve the visitor experience and to enhance access, circulation, and orientation. This strategy encompasses redesigning, updating, and distributing a comprehensive Park map, and designing and installing wayfinding, Park identification, and pedestrian signs in several key locations within the Park.Convenings and Awards - collaborative planning, design, and outreach, including a series of park-wide stakeholder meetings and support for programs focused specifically on horticulture and park improvement projects. The newest project, the annual sPARK Awards celebrates creative collaboration in the Park by honoring other inspirational organizations and individuals.Gardens Enhancement (a) upgraded gardens throughout the Park, with significant improvements to the Cactus Garen including irrigation planning, species mapping, and interpretive QR codes, elevating the stature of this neglected garden, (b) implemented pest control procedures for the Rose Garden and led the Rose Garden pergola redesign, (c) recruited and trained dozens of new Garden Stewards, and (d) managed an Adopt-a-Plot program, guiding plot adopters in creating and maintaining their designated plots.Trail Restoration - restoration of degraded trails in the Park, including the 26th Street trail in the Golden Hill neighborhood of the Park, and a trail in the Trees for Health medicinal garden, opening up these areas of the park for Park-goers of all physical abilities; collaboration with the Park Ranger team to identify future trail restoration projects to protect biodiversity and enhance outdoor learning and recreation. OTHER PROGRAM SERVICES 7: Botanical Building and GardensThe Botanical Building and Gardens is an architectural and horticultural treasure, introducing visitors from around the world to the plethora of plants that flouri

Financial Statement Notes

Part III, Line 4: Description of organization'S collections and how it furthers its purpose.

Forever balboa park's (the "organization") collection presently consists of the 1910 herschell-spillman menagerie carousel (the "carousel") which is located in balboa park. The organization preserves the carousel for future generations. The carousel is fully operational and provides rides throughout the year. The times of operation are located on the organization's website.

Part V, Line 4: Intended uses of the endowment fund.

The Organizations endowment consists of individual funds established for a variety of purposes. The Organization holds and manages the general operations endowment with the remaining fund held and managed by THE San Diego Foundation.

Part X : FIN48 Footnote

The Organization is a public charity and is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and Section 23701(d) of the California Revenue and Taxation Code, except on net income derived from unrelated business activities. The Organization believes that it has appropriate support for any tax positions taken, and, as such, does not have any uncertain tax positions that are material to the financial statements. The Organization is not a private foundation.The Organizations Return of Organization Exempt from Income Tax for the year ended June 30, 2023 AND 2022 is subject to examination by the Internal Revenue Service and the State taxing authorities, generally three-to-four years after the returns are filed.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Cost of goods sold $293003

Part XII, Line 2D: Other expenses and losses per audited F/S

Cost of goods sold $293003

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