Civic Intelligence

The Akron Metro Parks Foundation

990 • Fiscal year 2016 • EIN 34-1683837

Jan 01, 2016 to Dec 31, 2016 • Filed on Oct 25, 2018

Organization ProfileWWW.SUMMITMETROPARKS.ORG
975 Treaty Line RoadAkron, OH 44313-5898

(330) 867-5511

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$1,693,768

Down $3,218,903 (-66%) from 2014

Net Assets

Down

$1,693,768

Down $3,218,903 (-66%) from 2014

Liabilities

Flat

$0

Flat from 2014

Revenue And Expenses

Revenue

Up

$644,680

Up $370,829 (+135%) from 2014

Expenses

Up

$3,579,375

Up $3,571,326 (+44370%) from 2014

Net Income

Down

-$2,934,695

Down $3,200,497 (-1204%) from 2014

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2014: $4,912,671Liabilities 2014: $0Net Assets 2014: $4,912,6712014Assets 2016: $5,233,699Liabilities 2016: $0Net Assets 2016: $5,233,6992016Assets 2016: $1,693,768Liabilities 2016: $0Net Assets 2016: $1,693,7682016Assets 2017: $1,873,967Liabilities 2017: $0Net Assets 2017: $1,873,9672017Assets 2018: $1,232,261Liabilities 2018: $0Net Assets 2018: $1,232,2612018Assets 2019: $2,324,067Liabilities 2019: $0Net Assets 2019: $2,324,0672019Assets 2020: $1,088,735Liabilities 2020: $0Net Assets 2020: $1,088,7352020Assets 2021: $475,306Liabilities 2021: $0Net Assets 2021: $475,3062021Assets 2022: $1,494,776Liabilities 2022: $0Net Assets 2022: $1,494,7762022Assets 2023: $2,868,937Liabilities 2023: $0Net Assets 2023: $2,868,9372023Assets 2024: $2,724,457Liabilities 2024: $0Net Assets 2024: $2,724,4572024

Highlighted filing

2016

Assets$1,693,768
Liabilities$0
Net Assets$1,693,768
Open 2016 Filing

Operations Trend

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

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2014: $273,851Expenses 2014: $8,049Net Income 2014: $265,8022014Revenue 2016: $644,680Expenses 2016: $79,375Net Income 2016: $565,3052016Revenue 2016: $644,680Expenses 2016: $3,579,375Net Income 2016: -$2,934,6952016Revenue 2017: $519,376Expenses 2017: $339,177Net Income 2017: $180,1992017Revenue 2018: $1,399,016Expenses 2018: $2,040,722Net Income 2018: -$641,7062018Revenue 2019: $1,638,952Expenses 2019: $547,146Net Income 2019: $1,091,8062019Revenue 2020: $200,344Expenses 2020: $1,435,676Net Income 2020: -$1,235,3322020Revenue 2021: $369,611Expenses 2021: $983,040Net Income 2021: -$613,4292021Revenue 2022: $1,247,131Expenses 2022: $227,661Net Income 2022: $1,019,4702022Revenue 2023: $2,776,407Expenses 2023: $1,402,246Net Income 2023: $1,374,1612023Revenue 2024: $604,403Expenses 2024: $748,883Net Income 2024: -$144,4802024

Highlighted filing

2016

Revenue$644,680
Expenses$3,579,375
Net Income-$2,934,695
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Oct 25, 2018
Return Version
2016v3.1
Gross Receipts
$5,092,085
Mission and Program Overview

Mission

The organization operates for the benefit of the akron metropolitan park district and/or associated tax exempt organizations to further their charitable purpose.

The organization operates for the benefit of the summit metro parks and/or associated tax exempt organizations to further their charitable purpose.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,530,739--
Savings and Temporary Cash Investments$417,318$1,693,768▲ $1,276,450
Total Assets$4,948,057$1,693,768▼ $3,254,289
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$4,816,472$1,558,520▼ $3,257,952
Temporarily Rstr Net Assets$131,585$135,248▲ $3,663
Total Net Assets Fund Balance$4,948,057$1,693,768▼ $3,254,289
Total Liabilities and Net Assets / Fund Balance$4,948,057$1,693,768▼ $3,254,289
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jane BondPresident
Herbert NewmanTrustee
Tonya BlockTrustee
Lisa M KingExecutive Di
Joel BaileySecretary
Mark a SpisakTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$46,649
Program Service Revenue
$0
Investment Income
$538,633
Other Revenue
$59,398
All Other Contributions
$46,649
Change in Net Assets
$-2,934,695
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,579,375
Total Fundraising Expense$798
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal-$21,002-$21,002
Fees for Service Investment Mgmnt Fees-$5,540-$5,540
Office Expenses-$1,850-$1,850
Fees for Services Accounting-$995-$995
Advertising--$798$798
Other Expenses$2,500$200-$200
All Other Expenses-$27-$27
Total Functional Expenses$3,548,963$29,614$798$3,579,375
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$17,380
Fundraising Direct Expenses$12,545
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
MOTHER'S DAY 5K$17,380$17,380-$17,380
Total Events$17,380$17,380$12,545$4,835
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 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, Page 6, Part VI, Line 11B

“The form 990 is provided to the organization for review by the board members and officers prior to being filed.”

Form 990, Page 6, Part VI, Line 12C

“Trustees and officers sign an annual statement acknowledging the conflict of intertest policy and their compliance with the policy.”

Form 990, Page 6, Part VI, Line 15A

“The organization has a compensation policy, but currently has no compensated employees, officers, or trustees.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Summit Metro Parks Foundation
EIN
34-1683837
Phone
3308675511
Address
975 TREATY LINE ROAD, AKRON, OH 44313-5898

Signing Officer

Name
Lisa M King
Title
Executive Director
Phone
3308675511
Signed
2018-10-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jane Bond
Formed
1991
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Stinnett Padrutt & Aranyosi
Address
3465 S ARLINGTON RD STE A, AKRON, OH 44312-4708
Preparer
Richard a Schrader
Phone
3308991571
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item B

“The original return did not properly classify a 3,500,000 transfer to set up an endowment fund for the benefit of the summit metro parks. The money was transfered to the akron community foundation and will be recorded on their 990 filing.”

Form 990, Page 2, Part III, Line 4D

“To make contributions, gifts and grants to or for the benefit of the akron metropolitan park district or organizations that are associated with the akron metropolitan park district and are tax exempt under the provisions of irc section 501(c)(3).”

Form 990, Part XI, Line 9

“Unrealized gain (loss) on investments -319,594”

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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/ExplanationTxt0THE ORIGINAL RETURN DID NOT PROPERLY CLASSIFY A 3,500,000 TRANSFER TO SET UP AN ENDOWMENT FUND FOR THE BENEFIT OF THE SUMMIT METRO PARKS. THE MONEY WAS TRANSFERED TO THE AKRON COMMUNITY FOUNDATION AND WILL BE RECORDED ON THEIR 990 FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO MAKE CONTRIBUTIONS, GIFTS AND GRANTS TO OR FOR THE BENEFIT OF THE AKRON METROPOLITAN PARK DISTRICT OR ORGANIZATIONS THAT ARE ASSOCIATED WITH THE AKRON METROPOLITAN PARK DISTRICT AND ARE TAX EXEMPT UNDER THE PROVISIONS OF IRC SECTION 501(C)(3).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PROVIDED TO THE ORGANIZATION FOR REVIEW BY THE BOARD MEMBERS AND OFFICERS PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TRUSTEES AND OFFICERS SIGN AN ANNUAL STATEMENT ACKNOWLEDGING THE CONFLICT OF INTERTEST POLICY AND THEIR COMPLIANCE WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS A COMPENSATION POLICY, BUT CURRENTLY HAS NO COMPENSATED EMPLOYEES, OFFICERS, OR TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UNREALIZED GAIN (LOSS) ON INVESTMENTS -319,594
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0131585
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0135248
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04948057
IRS990/TotalAssetsEOYAmt01693768
IRS990/TotalAssetsGrp/BOYAmt04948057
IRS990/TotalAssetsGrp/EOYAmt01693768
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt046649
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0798
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt029614
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03548963
IRS990/TotalFunctionalExpensesGrp/TotalAmt03579375
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04948057
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01693768
IRS990/TotalProgramServiceExpensesAmt03548963
IRS990/TotalRevenueGrp/ExclusionAmt0598031
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0644680
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04948057
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01693768
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt04816472
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01558520
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.SUMMITMETROPARKS.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LISA M KING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03308675511
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SUMMIT METRO PARKS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0SUMM
ReturnHeader/Filer/EIN0341683837
ReturnHeader/Filer/PhoneNum03308675511
ReturnHeader/Filer/USAddress/AddressLine1Txt0975 TREATY LINE ROAD
ReturnHeader/Filer/USAddress/CityNm0AKRON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd0443135898
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId091769E3605F25EFCE94D8669AEC258368FB1E2D8
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId055A709780D0ECAE4686D3F06AE18528B24F51EF5
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341339814
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0STINNETT PADRUTT & ARANYOSI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03465 S ARLINGTON RD STE A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AKRON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0443124708
ReturnHeader/PreparerPersonGrp/PhoneNum03308991571
ReturnHeader/PreparerPersonGrp/PreparationDt02018-10-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD A SCHRADER
ReturnHeader/ReturnTs02018-11-05T14:04:14-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,693,768
Liabilities
$0
Net assets
$1,693,768
Revenue
$644,680
Expenses
$3,579,375
Net income
-$2,934,695
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.72$0.00$2.72$0.60$0.75$0.14
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.87$0.00$2.87$2.78$1.40$1.37
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.49$0.00$1.49$1.25$0.23$1.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$0.00$0.48$0.37$0.98$0.61
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.09$0.00$1.09$0.20$1.44$1.24
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.32$0.00$2.32$1.64$0.55$1.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.23$0.00$1.23$1.40$2.04$0.64
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.87$0.00$1.87$0.52$0.34$0.18
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.23$0.00$5.23$0.64$0.08$0.57
2016Detailed filing. Detailed filing data is available for this year.$1.69$0.00$1.69$0.64$3.58$2.93
2014Detailed filing. Detailed filing data is available for this year.$4.91$0.00$4.91$0.27$0.01$0.27