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Nonprofiteer
← PARKS SYSTEM TR FUND

Form 990 for tax year 2022

Filed by PARKS SYSTEM TR FUND.

Totals

Total revenue
$1,149,663
Total expenses
$1,940,660
Contributions and grants received
$143,749
Grants paid
$1,838,613
Program service revenue
$0
Investment income
$280,783
Other revenue
$725,131
Total assets, end of year
$18,140,801
Total liabilities, end of year
$1,500
Net assets or fund balances, end of year
$18,139,301
Program services expenses (Part IX)
$1,911,122
Management and general expenses
$29,538
Fundraising expenses
$0
Program service expenses (Part III)
$1,911,122

Program services were 98.5% 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

    $143,749

  • 3 · Investment income

    total $280,783 · related or exempt $280,783

  • 5 · Royalties

    total $616,542 · related or exempt $616,542

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

    total $108,589 · related or exempt $108,589

  • 11e · Other revenue, total

    $108,589

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,838,613 · program services $1,838,613

  • 11a · Fees: management

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

  • 11b · Fees: legal

    total $882 · program services $882

  • 11c · Fees: accounting

    total $29,538 · management and general $29,538

  • 11g · Fees: other

    total $53,327 · program services $53,327

  • 24a · Other expenses: MISC EXPENSE ON INVESTM

    total $300 · program services $300

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $17,875,107 · end of year $13,970,256

  • 4 · Accounts receivable

    end of year $14,496

  • 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 $4,195,829 · end of year $3,316,527

  • 17 · Accounts payable and accrued expenses

    beginning of year $126,000 · end of year $1,500

  • 18 · Grants payable

    beginning of year $78,383

  • 27 · Net assets without donor restrictions

    beginning of year $6,145,855 · end of year $4,246,462

  • 28 · Net assets with donor restrictions

    beginning of year $16,560,220 · end of year $13,892,839

Mission and programs · 2022

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 $1,911,122 · Grants $1,838,613 · Revenue $1,005,914

As filed on the 2022 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

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
27 June 2023
IRS schema version
2022v5.0
Source object
202311919349300421

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