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Nonprofiteer
← PARK MANAGEMENT COMPANY INC

Form 990 for tax year 2022

Filed by PARK MANAGEMENT COMPANY INC.

Totals

Total revenue
$1,271,787
Total expenses
$1,271,787
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,271,489
Investment income
$25
Other revenue
$273
Total assets, end of year
$157,365
Total liabilities, end of year
$157,365
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$1,271,787
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,271,787

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: MANAGEMENT FEES

    total $1,271,489 · related or exempt $1,271,489

  • 3 · Investment income

    total $25 · excluded $25

  • 11a · Other revenue: OTHER INCOME

    total $273 · related or exempt $273

  • 11e · Other revenue, total

    $273

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $435,549 · program services $435,549

  • 7 · Other salaries and wages

    total $577,268 · program services $577,268

  • 8 · Pension plan contributions

    total $28,344 · program services $28,344

  • 9 · Other employee benefits

    total $61,741 · program services $61,741

  • 10 · Payroll taxes

    total $75,221 · program services $75,221

  • 11b · Fees: legal

    total $450 · program services $450

  • 11c · Fees: accounting

    total $7,366 · program services $7,366

  • 11g · Fees: other

    total $21 · program services $21

  • 13 · Office expenses

    total $1,128 · program services $1,128

  • 14 · Information technology

    total $66,264 · program services $66,264

  • 19 · Conferences, conventions and meetings

    total $590 · program services $590

  • 23 · Insurance

    total $2,129 · program services $2,129

  • 24a · Other expenses: RECRUITING/BACKGROUND

    total $15,000 · program services $15,000

  • 24b · Other expenses: OTHER SUPPLIES

    total $226 · program services $226

  • 24c · Other expenses: MISC EXPENSES

    total $180 · program services $180

  • 24d · Other expenses: GIFTS/THANK YOUS

    total $167 · program services $167

  • 24e · All other expenses

    total $143 · program services $143

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $72,632 · end of year $90,188

  • 4 · Accounts receivable

    beginning of year $70,434 · end of year $67,177

  • 17 · Accounts payable and accrued expenses

    beginning of year $143,066 · end of year $157,365

Mission and programs · 2022

Mission

OVERSEE TWO 501(C)3 FOUNDATIONS AND FACILITATE FUNDRAISING

  • PARK MANAGEMENT COMPANY IS THE NONPROFIT ENTITY THAT PROVIDES EXECUTIVE OVERSIGHT AND MANAGEMENT OF MYRIAD GARDENS FOUNDATION AND SCISSORTAIL PARK FOUNDATION WITHIN ITS PUBLIC/PRIVATE PARTNERSHIP WITH THE CITY OF OKLAHOMA CITY. THE CEO AND CFO ALONG WITH SUPPORTING STAFF PRIMARILY IN ADMINISTRATIVE, FINANCIAL AND EVENT SUPPORT ROLES ARE INCLUDED IN PARK MANAGEMENT STAFF. EXECUTIVES AND OTHER STAFF IN PARK MANAGMENT MANAGE: FINANCIALS, BUDGETING, INSURANCE COVERAGE, FOR LIABILITIES AND STAFF BENEFITS, HUMAN RESOURCES, IT AND SAFETY FOR BOTH FOUNDATIONS. THE EXECUTIVE STAFF ALSO WORK CLOSELY WITH THE CITY OF OKLAHOMA CITY STAFF IN A PUBLIC/PRIVATE PARTNERSHIP TO ENSURE THE FOUNDATIONS ARE APPROPRIATELY MANAGING THE FUNDING AND MAINTAINING INFRASTRUCTURE MAINTENANCE AT EACH LOCATION. THIS MANAGEMENT ARRANGEMENT ENABLES STAFFING EFFICIENCIES AND COST SAVINGS BY CONSOLIDATING ADMINISTRATIVE AND LONGER TERM PLANNING WORK FOR BOTH ENTITIES.

    Expenses $1,271,787 · Revenue $1,271,787

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Maureen Heffernan

    PRESIDENT AN

    Total calculated
    $262,904
    From this org
    $248,095
    From related orgs
    $0
    Other
    $14,809
    Hours/week
    5

    Schedule J breakdown matched by us

    Base
    $248,095
    Bonus
    not reported
    Other
    not reported
    Deferred
    $9,924
    Nontaxable benefits
    $4,885
    Filer's total
    $262,904

  • Chuck Davis

    CFO 7/1/22-2

    Total calculated
    $144,842
    From this org
    $134,574
    From related orgs
    $0
    Other
    $10,268
    Hours/week
    5

  • Debora Morey

    DEPUTY DIR/S

    Total calculated
    $27,803
    From this org
    $23,446
    From related orgs
    $0
    Other
    $4,357
    Hours/week
    5

  • Cindy Rogers

    CFO 1/31/23-

    Total calculated
    $0
    Hours/week
    5

  • Larry Nichols

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Lindsey Brock

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Jim Tolbert

    CHAIR EMERIT

    Total calculated
    $0
    Hours/week
    5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202411369349315436

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