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Nonprofiteer
← SARIS BIKE PARKS FOR KIDS FOUNDATION INC

Form 990 for tax year 2022

Filed by SARIS BIKE PARKS FOR KIDS FOUNDATION INC.

Totals

Total revenue
$20,474
Total expenses
$85,759
Contributions and grants received
$48,107
Grants paid
$65,000
Program service revenue
$0
Investment income
-$67,604
Other revenue
$39,971
Total assets, end of year
$378,530
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$378,530
Program services expenses (Part IX)
$65,000
Management and general expenses
$20,759
Fundraising expenses
$0
Program service expenses (Part III)
$65,000

Program services were 75.8% 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.

  • 1c · Fundraising events

    $48,107

  • 3 · Investment income

    total $4,842 · excluded $4,842

  • 7a · Gross sales of assets other than inventory

    securities $240,132

  • 7b · Less cost or other basis and sales expenses

    securities $312,578

  • 7c · Gain or loss

    securities -$72,446

  • 7d · Net gain or loss

    total -$72,446 · related or exempt -$72,446

  • 8a · Fundraising events: gross income

    $45,539

  • 8a · Fundraising events: contributions included on line 1c

    $48,107

  • 8b · Fundraising events: direct expenses

    $5,585

  • 8c · Net income from fundraising events

    total $39,954 · excluded $39,954

  • 11a · Other revenue: MUTUAL FUND INCOME

    total $17 · excluded $17

  • 11e · Other revenue, total

    $17

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $65,000 · program services $65,000

  • 5 · Compensation of officers, directors and key employees

    total $3,333 · management and general $3,333

  • 11b · Fees: legal

    total $13,245 · management and general $13,245

  • 11f · Fees: investment management

    total $2,931 · management and general $2,931

  • 11g · Fees: other

    total $95 · management and general $95

  • 13 · Office expenses

    total $1,089 · management and general $1,089

  • 24a · Other expenses: BANK & CC FEES

    total $51 · management and general $51

  • 24b · Other expenses: ANNUAL REPORT FEE

    total $15 · management and general $15

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $213,824 · end of year $55,328

  • 2 · Savings and temporary cash investments

    end of year $82,784

  • 11 · Investments: publicly traded securities

    beginning of year $241,889 · end of year $239,949

  • 15 · Other assets

    beginning of year $0 · end of year $469

  • 27 · Net assets without donor restrictions

    beginning of year $455,713 · end of year $378,530

Mission and programs · 2022

Mission

THE PURPOSE OF THE ORGANIZATION IS TO ASSIST MUNICIPALITIES AND OTHER NONPROFIT ENTITIES IN DEVELOPING BIKE, SKATEBOARD AND OTHER RECREATIONAL PARKS FOR USE BY CHILDREN AND ADULTS. IN DEVELOPING THE PARKS, THE ORGANIZATION WILL ASSIST WITH RAISING OR PROVIDING GRANTS TO THE MUNICIPALITY, AS WELL AS PROVIDING ASSISTANCE FOR THE DEVELOPING ORGANIZATION WITH ANY OTHER ASPECTS OF THE PARKS THEY DESIRE.

Activities or mission (Part I)

ASSIST MUNICIPALITIES AND OTHER NONPROFIT ENTITIES IN DEVELOPING BIKE, SKATEBOARD AND OTHER RECREATIONAL PARKS FOR USE BY CHILDREN AND ADULTS.

  • FUNDING BIKE PARK PROJECTS IN NEIGHBORHOOD SPACES, TO SERVE UNDERREPRESENTED KIDS, TEEN AND YOUNG ADULTS. PROVIDE RESOURCES AND GUIDANCE TO ASSIST WITH THE PROCESS OF INCOPORATING BIKE PARKS INTO PUBLIC PARKS. WITH THE SUPPORT OF SARIS BIKE PARK FOR KIDS, THE SARIS FOUNDATION BIKE PARK IN MADISON WI WAS OPENED IN AUGUST 2022. THE FOUNDATION ALSO SUPPORTED THE PURCELVILLE, VA BIKE PARK WHICH HELD ITS GRAND OPENING IN OCTOBER, 2022.

    Expenses $65,000 · Grants $65,000

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

Listed in Part VII

  • Christopher Fortune

    PRESIDENT & DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sara Fortune

    VICE PRESIDENT & DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Heather Fortune

    SECRETARY & DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lindsay Suttin

    TREASURER & DIRECTOR

    Total calculated
    $3,333
    From this org
    $3,333
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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.

Grants 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
20 October 2023
IRS schema version
2022v5.0
Source object
202333149349304743

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