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Nonprofiteer
← PARKS SYSTEM TR FUND

Form 990 for tax year 2024

Filed by PARKS SYSTEM TR FUND.

Totals

Total revenue
$2,361,654
Total expenses
$2,338,521
Contributions and grants received
$73,174
Grants paid
$2,228,877
Program service revenue
$0
Investment income
$1,337,149
Other revenue
$951,331
Total assets, end of year
$21,650,277
Total liabilities, end of year
$163,012
Net assets or fund balances, end of year
$21,487,265
Program services expenses (Part IX)
$2,305,521
Management and general expenses
$33,000
Fundraising expenses
$0
Program service expenses (Part III)
$2,305,521

Program services were 98.6% 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.

  • 1f · All other contributions, gifts and grants

    $73,174

  • 3 · Investment income

    total $375,475 · related or exempt $375,475

  • 5 · Royalties

    total $844,550 · related or exempt $844,550

  • 7a · Gross sales of assets other than inventory

    securities $961,674

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

    securities $0

  • 7c · Gain or loss

    securities $961,674

  • 7d · Net gain or loss

    total $961,674 · related or exempt $961,674

  • 11a · Other revenue: 10% FROM BENEDUM CABIN

    total $106,781 · related or exempt $106,781

  • 11e · Other revenue, total

    $106,781

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,228,877 · program services $2,228,877

  • 11a · Fees: management

    total $18,000 · program services $18,000

  • 11b · Fees: legal

    total $724 · program services $724

  • 11c · Fees: accounting

    total $33,000 · management and general $33,000

  • 24a · Other expenses: BANK FEES AND COMMISSIO

    total $57,920 · program services $57,920

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $16,110,763 · end of year $16,849,887

  • 4 · Accounts receivable

    beginning of year $17,025 · end of year $16,734

  • 10a · Land, buildings and equipment: cost or other basis

    $962,914

  • 10b · Land, buildings and equipment: accumulated depreciation

    $123,392

  • 10c · Land, buildings and equipment, net

    beginning of year $839,522 · end of year $839,522

  • 15 · Other assets

    beginning of year $3,649,485 · end of year $3,944,134

  • 18 · Grants payable

    beginning of year $18,703 · end of year $163,012

  • 27 · Net assets without donor restrictions

    beginning of year $5,060,159 · end of year $5,028,426

  • 28 · Net assets with donor restrictions

    beginning of year $15,537,933 · end of year $16,458,839

Mission and programs · 2024

Mission

TO SUPPORT THE PUBLIC PARKS OF WHEELING, OHIO COUNTY, WEST VIRGINIA.

  • TO PROVIDE FOR THE CONTINUING EXISTENCE OF THE WHEELING PARK COMMISSION AND ITS OBJECTIVES OF MAINTAINING A PUBLIC PARK SYSTEM FOR THE BENEFIT OF THE GENERAL PUBLIC.

    Expenses $2,305,521 · Grants $2,228,877 · Revenue $2,288,480

As filed on the 2024 return.

Listed in Part VII

  • R Gregory McDermott

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Joan C Stamp

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • David H McKinley

    SECRETARY-TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Gene Fahey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Justin Seibert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bob Peckenpaugh

    PRESIDENT & CEO

    Total calculated
    $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

  • WHEELING PARK COMMISSION

    $2,228,877

    FOR THE MAINTENANCE AND OPERATION OF THE PUBLIC PARKS OF WHEELING, WEST VIRGINIA.

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.

  • WHEELING PARK COMMISSION

    N/A · TO OPERATE OGLEBAY AND WHEELING PARKS · WV

Provenance

Return type
form_990
Tax year
2024
Filed
28 May 2025
IRS schema version
2024v5.1
Source object
202531499349301408

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