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Nonprofiteer
← KALEIDOSCOPE PARK FOUNDATION

Form 990 for tax year 2022

Filed by KALEIDOSCOPE PARK FOUNDATION.

Totals

Total revenue
$6,135,362
Total expenses
$268,837
Contributions and grants received
$6,135,362
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$6,595,961
Total liabilities, end of year
$765,128
Net assets or fund balances, end of year
$5,830,833
Program services expenses (Part IX)
$0
Management and general expenses
$268,837
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 1d · Related organizations

    $6,135,362

  • 1g · Noncash contributions included above

    $6,135,362

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $25,868 · management and general $25,868

  • 11c · Fees: accounting

    total $3,000 · management and general $3,000

  • 11g · Fees: other

    total $239,969 · management and general $239,969

Balance sheet

Part X, book values.

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

    $6,595,961

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $6,595,961

  • 17 · Accounts payable and accrued expenses

    end of year $729,436

  • 25 · Other liabilities

    beginning of year $0 · end of year $35,692

  • 27 · Net assets without donor restrictions

    end of year $5,830,833

Mission and programs · 2022

Mission

KALEIDOSCOPE PARK FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY TO SUPPORT THE CHARITABLE AND EDUCATIONAL UNDERTAKINGS OF COMMUNITES FOUNDATION OF TEXAS.

Activities or mission (Part I)

TO SUPPORT THE CHARITABLE AND EDUCATIONAL UNDERTAKINGS OF COMMUNITES FOUNDATION OF TEXAS.

  • IN FURTHERANCE OF ITS EXEMPT PURPOSE, THE FOUNDATION SHALL ASSIST IN THE DEVELOPMENT, PROGRAMMING, AND MAINTENANCE OF A COMMUNITY PARK WITHIN HALL PARK IN THE CITY OF FRISCO, TEXAS, FOR THE BENEFIT OF THE PUBLIC.

As filed on the 2022 return.

Listed in Part VII

  • Florence Shapiro

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • David J Scullin

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Kymberley Scalia

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth W Bull

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Scott J Boxer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kim Butler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wes Pierson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Stewart

    EXECUTIVE DIRECTOR

    Total calculated
    $229,439
    From this org
    $0
    From related orgs
    $214,780
    Other
    $14,659
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $186,313 related
    Bonus
    $0 + $100 related
    Other
    $0 + $28,367 related
    Deferred
    $0 + $6,670 related
    Nontaxable benefits
    $0 + $7,989 related
    Filer's total
    $0 + $229,439 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

  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
PER THE INSTRUCTIONS, BECAUSE ALL COMPENSATION IS ESTABLISHED AND PAID BY A RELATED ORGANIZATION, THE FILING ORGANIZATION HAS NOT MADE ANY SELECTIONS FOR SCHEDULE J, PART I, LINE 3. THE FOLLOWING METHODS ARE USED BY THE RELATED ORGANIZATION IN DETERMINING COMPENSATION: COMPENSATION COMMITTEE INDEPENDENT COMPENSATION CONSULTANT FORM 990 OF OTHER ORGANIZATIONS COMPENSATION SURVEY OR STUDY APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
PART I, LINE 7
AS PART OF THE ANNUAL PERFORMANCE EVALUATIONS, A BONUS PAYMENT MIGHT BE PAID TO ELIGIBLE EMPLOYEES. FOR OFFICERS, KEY EMPLOYEES, AND ALL OTHER STAFF, THESE PAYMENTS ARE DETERMINED BY THE PRESIDENT AND CEO, AND THOSEOVER $10,000 ARE REVIEWED BY THE BOARD. THE BONUS PAYMENT PAID TO THE PRESIDENT AND CEO IS DETERMINED BY THE BOARD OF TRUSTEES IN EXECUTIVE SESSION WHEN THE BOARD DETERMINES THE CEO'S COMPENSATION FOR THE FOLLOWING FISCAL YEAR. THE FOUNDATION ALSO PAYS A NOMINAL, ANNUAL HOLIDAY BONUS TO ALL EMPLOYEES BASED ON TENURE. THESE PAYMENTS ARE NOT MATERIAL TO THE OVERALL COMPENSATION PACKAGES.

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
19 March 2024
IRS schema version
2022v5.0
Source object
202420819349301652

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