Civic Intelligence

Forest Park Foundation

990 • Fiscal year 2023 • EIN 35-2578306

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 05, 2024

Organization ProfileFORESTPARKFOUNDATION.ORG
801 Forest ParkwayCrystal Falls, MI 49920

(906) 214-4695

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

98th percentile

90%

Higher net margin than 98% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

55th percentile

6.6%

Faster asset growth than 55% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

3rd percentile

-67%

Faster revenue growth than 3% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$1,073,898

Up $66,380 (+6.6%) from 2022

Net Assets

Up

$1,073,898

Up $66,380 (+6.6%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin98th percentile

Revenue

Down

$129,119

Down $257,481 (-67%) from 2022

Expenses

Down

$12,551

Down $152 (-1.2%) from 2022

Net Income

Down

$116,568

Down $257,329 (-69%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$1.5M$1.0M$500K$0Assets 2018: $156,708Liabilities 2018: $0Net Assets 2018: $156,7082018Assets 2019: $519,303Liabilities 2019: $0Net Assets 2019: $519,3032019Assets 2020: $765,714Liabilities 2020: $0Net Assets 2020: $765,7142020Assets 2021: $1,016,679Liabilities 2021: $0Net Assets 2021: $1,016,6792021Assets 2022: $1,007,518Liabilities 2022: $0Net Assets 2022: $1,007,5182022Assets 2023: $1,073,898Liabilities 2023: $0Net Assets 2023: $1,073,8982023Assets 2024: $1,189,336Liabilities 2024: $0Net Assets 2024: $1,189,3362024

Highlighted filing

2023

Assets$1,073,898
Liabilities$0
Net Assets$1,073,898
Open 2023 Filing

Operations Trend

Revenue Growth3rd percentile

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

$400K$300K$200K$100K$0Revenue 2018: $64,318Expenses 2018: $9,484Net Income 2018: $54,8342018Revenue 2019: $299,468Expenses 2019: $2,895Net Income 2019: $296,5732019Revenue 2020: $126,172Expenses 2020: $9,581Net Income 2020: $116,5912020Revenue 2021: $85,385Expenses 2021: $15,028Net Income 2021: $70,3572021Revenue 2022: $386,600Expenses 2022: $12,703Net Income 2022: $373,8972022Revenue 2023: $129,119Expenses 2023: $12,551Net Income 2023: $116,5682023Revenue 2024: $42,035Expenses 2024: $41,352Net Income 2024: $6832024

Highlighted filing

2023

Revenue$129,119
Expenses$12,551
Net Income$116,568
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 5, 2024
Return Version
2023v5.1
Gross Receipts
$335,508
Mission and Program Overview

Mission

Purpose of the foundation is to receive scholarship funds, invest scholarship funds, distribute scholarship dividends to forest park graduates that have applied and been awarded scholarships according to the guidelines of each individual scholarship. Forest park scholarship committee decides on the recipients and gives that information to the forest park foundation members for distribution purposes.

Receive and invest scholarship funds, distribute scholarship dividends to forest park graduates that have applied and have been awarded scholarships according to the guidelines of each individual scholarship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,004,576$1,071,142▲ $66,566
Savings and Temporary Cash Investments$2,942$2,756▼ $186
Total Assets$1,007,518$1,073,898▲ $66,380
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,007,518$1,073,898▲ $66,380
Total Net Assets Fund Balance$1,007,518$1,073,898▲ $66,380
Total Liabilities and Net Assets / Fund Balance$1,007,518$1,073,898▲ $66,380
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Becky WatersPresident
Christy LarsenDirector
Daryl WatersDirector
Jamie KruegerDirector
Jim NoceriniDirector
Stacy GasperichDirector
Britt BrozakSecretary
Kathy StankewiczTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$25,977
Program Service Revenue
$0
Investment Income
$103,142
Other Revenue
$0
All Other Contributions
$25,977
Change in Net Assets
$116,568

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded3$25,977Fair Market Value (FMV) at Date of Donat
Total Noncash Contributions3$25,977-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$10,235
Other Expenses$2,316
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$10,235--$10,235
Fees for Services Accounting-$2,198-$2,198
Other Expenses-$118-$118
Total Functional Expenses$10,235$2,316$0$12,551
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

Governance Explanations

Officer directors etc family relationship Part VI line 2

“Board members daryl waters and becky waters have a family relationship.”

Form 990 governing body review Part VI line 11

“The president and treasurer will review and approve a draft copy of the form 990 before it is filed. It will be made available to the other board members upon request.”

Conflict of interest policy compliance Part VI line 12C

“The conflict of interest policy is reviewed by all board members on an annual basis. Each board member must file a potential conflict report in connection with the board selection process. Existing board members must file a potential conflict report annually in june with the president.”

Governing documents etc available to public Part VI line 19

“The governing documents, conflict of interest policy and financial statements (990) are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Forest Park Foundation
EIN
35-2578306
Address
801 Forest Parkway, Crystal Falls, MI 49920

Signing Officer

Name
Becky Waters
Title
President
Phone
9062144695
Signed
2024-06-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Becky Waters
Formed
2017
Legal Domicile
Mi
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Joseph Nurmi CPA PLLC
Address
108 S Carpenter Ave, Kingsford, MI 49802
Preparer
Joseph Nurmi
Phone
9066291123
Raw XML Appendix358 raw XML fields

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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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0SCHOLARSHIPS ARE GIVEN TO FOREST PARK GRADUATES THAT HAVE APPLIED AND BEEN AWARDED SCHOLARSHIPS ACCORDING TO THE GUIDELINES OF EACH INDIVIDUAL SCHOLARSHIP. THE FOREST PARK SCHOLARSHIP COMMITTEE DECIDES ON THE RECIPIENTS OF THE SCHOLARSHIPS AND GIVES THAT INFORMATION TO THE FOREST PARK FOUNDATION MEMBERS FOR DISTRIBUTION PURPOSES.
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IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION REPORTS IN COLUMN B THE NUMBER OF ITEMS CONTRIBUTED.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0Number of contributions or items or both (Part I, col b)
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS DARYL WATERS AND BECKY WATERS HAVE A FAMILY RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRESIDENT AND TREASURER WILL REVIEW AND APPROVE A DRAFT COPY OF THE FORM 990 BEFORE IT IS FILED. IT WILL BE MADE AVAILABLE TO THE OTHER BOARD MEMBERS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS REVIEWED BY ALL BOARD MEMBERS ON AN ANNUAL BASIS. EACH BOARD MEMBER MUST FILE A POTENTIAL CONFLICT REPORT IN CONNECTION WITH THE BOARD SELECTION PROCESS. EXISTING BOARD MEMBERS MUST FILE A POTENTIAL CONFLICT REPORT ANNUALLY IN JUNE WITH THE PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS (990) ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd011
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Becky Waters
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum09062144695
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-06-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Forest Park Foundation
ReturnHeader/Filer/BusinessNameControlTxt0FORE
ReturnHeader/Filer/EIN0352578306
ReturnHeader/Filer/USAddress/AddressLine1Txt0801 Forest Parkway
ReturnHeader/Filer/USAddress/CityNm0Crystal Falls
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd049920
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0842658347
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Joseph Nurmi CPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0108 S Carpenter Ave
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Kingsford
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd049802
ReturnHeader/PreparerPersonGrp/PhoneNum09066291123
ReturnHeader/PreparerPersonGrp/PreparationDt02024-06-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Joseph Nurmi
ReturnHeader/ReturnTs02024-06-19T16:39:35-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Becky
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Waters
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,073,898
Liabilities
$0
Net assets
$1,073,898
Revenue
$129,119
Expenses
$12,551
Net income
$116,568
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.19$0.00$1.19$0.04$0.04$0.00
2023Detailed filing. Detailed filing data is available for this year.$1.07$0.00$1.07$0.13$0.01$0.12
2022Detailed filing. Detailed filing data is available for this year.$1.01$0.00$1.01$0.39$0.01$0.37
2021Detailed filing. Detailed filing data is available for this year.$1.02$0.00$1.02$0.09$0.02$0.07
2020Detailed filing. Detailed filing data is available for this year.$0.77$0.00$0.77$0.13$0.01$0.12
2019Detailed filing. Detailed filing data is available for this year.$0.52$0.00$0.52$0.30$0.00$0.30
2018Detailed filing. Detailed filing data is available for this year.$0.16$0.00$0.16$0.06$0.01$0.05