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Nonprofiteer
← UNIVERSITY CIRCLE PARKING SERVICES INC

Form 990 for tax year 2024

Filed by UNIVERSITY CIRCLE PARKING SERVICES INC.

Totals

Total revenue
$9,296,830
Total expenses
$16,862,111
Contributions and grants received
$0
Grants paid
$8,462,148
Program service revenue
$8,771,726
Investment income
$525,104
Other revenue
$0
Total assets, end of year
$77,858,377
Total liabilities, end of year
$85,949,717
Net assets or fund balances, end of year
-$8,091,340
Program services expenses (Part IX)
$16,862,111
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$16,862,111

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: PARKING

    total $8,771,726 · related or exempt $8,771,726

  • 3 · Investment income

    total $525,104 · excluded $525,104

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,462,148 · program services $8,462,148

  • 7 · Other salaries and wages

    total $856,884 · program services $856,884

  • 9 · Other employee benefits

    total $86,308 · program services $86,308

  • 10 · Payroll taxes

    total $125,825 · program services $125,825

  • 11a · Fees: management

    total $85,326 · program services $85,326

  • 13 · Office expenses

    total $270,210 · program services $270,210

  • 14 · Information technology

    total $3,951 · program services $3,951

  • 16 · Occupancy

    total $57,571 · program services $57,571

  • 20 · Interest

    total $4,118,225 · program services $4,118,225

  • 22 · Depreciation, depletion and amortization

    total $2,774,100 · program services $2,774,100

  • 23 · Insurance

    total $21,563 · program services $21,563

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $500 · end of year $500

  • 2 · Savings and temporary cash investments

    beginning of year $16,071,026 · end of year $9,758,334

  • 4 · Accounts receivable

    beginning of year $23,175 · end of year $18,494

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

    $81,489,201

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

    $13,408,152

  • 10c · Land, buildings and equipment, net

    beginning of year $70,855,149 · end of year $68,081,049

  • 15 · Other assets

    beginning of year $63,328 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,096,674 · end of year $2,031,335

  • 20 · Tax-exempt bond liabilities

    beginning of year $83,160,769 · end of year $81,636,588

  • 21 · Escrow or custodial account liability

    beginning of year $2,100,000 · end of year $2,100,000

  • 25 · Other liabilities

    beginning of year $181,794 · end of year $181,794

  • 27 · Net assets without donor restrictions

    beginning of year -$526,059 · end of year -$8,091,340

Mission and programs · 2024

Mission

UNIVERSITY CIRCLE PARKING SERVICES INC. IS A 501( C ) ( 3 ) WHOLLY OWNED SUBSIDIARY OF UNIVERSITY CIRCLE INCORPORATED CREATED TO SUPPORT UCI'S MISSION AND ONGOING EFFORTS FOR DISTRICT WIDE PARKING.

Activities or mission (Part I)

TO OPERATE EXCLUSIVELY FOR CHARITABLE PURPOSES BY CONDUCTING OR SUPPORTING ACTIVITIES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF, UNIVERSITY CIRCLE INCORPORATED.

  • AS THE SECOND LARGEST EMPLOYMENT DISTRICT IN NORTHEASTERN OHIO AND A DESTINATION FOR MILLIONS OF ANNUAL VISITORS, UNIVERSITY CIRCLE INCORPORATED'S PARKING PROGRAM IS CRITICAL TO THE DAILY INFLUX AND EGRESS OF MOTOR VEHICLES. UNIVERSITY CIRCLE PARKING SERVICES INC. OPERATES AND MANAGES, AS A CONCESSIONAIRE, CERTAIN LEASED PARKING FACILITIES IN THE UNIVERSITY CIRCLE NEIGHBORHOOD WHICH COMPRISE APPROXIMATELY 5,107 PARKING SPACES FOR PUBLIC USE. THE PROGRAM IS OPERATED DAILY BY A NATIONAL PROVIDER OF PROFESSIONAL PARKING, FACILITY MAINTENANCE, AND EVENT LOGISTICS SERVICES.

    Expenses $16,862,111 · Grants $8,462,148 · Revenue $8,771,726

As filed on the 2024 return.

Listed in Part VII

  • Ms Kate Borders

    PRESIDENT

    Total calculated
    $290,092
    From this org
    $0
    From related orgs
    $252,942
    Other
    $37,150
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $226,942 related
    Bonus
    $0 + $20,000 related
    Other
    $0 + $6,000 related
    Deferred
    $0 + $9,445 related
    Nontaxable benefits
    $0 + $27,705 related
    Filer's total
    $0 + $290,092 related

  • Mr Dean M Parker

    TREASURER

    Total calculated
    $228,750
    From this org
    $0
    From related orgs
    $196,638
    Other
    $32,112
    Hours/week
    5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $159,083 related
    Bonus
    $0 + $37,555 related
    Other
    $0
    Deferred
    $0 + $17,000 related
    Nontaxable benefits
    $0 + $15,112 related
    Filer's total
    $0 + $228,750 related

  • Ms Elise Yablonsky

    SECRETARY

    Total calculated
    $199,080
    From this org
    $0
    From related orgs
    $143,728
    Other
    $55,352
    Hours/week
    2 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $116,416 related
    Bonus
    $0 + $27,312 related
    Other
    $0
    Deferred
    $0 + $12,454 related
    Nontaxable benefits
    $0 + $42,898 related
    Filer's total
    $0 + $199,080 related

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

None.

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

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
2024
Filed
25 February 2026
IRS schema version
2024v5.5
Source object
202640579349300324

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