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Norwood Park Foundation

Austin, TXUnknown exempt organization EIN 45-4891853Revenue $4K in FY2021Latest return filed May 16, 2022

On file with the IRSnorwoodparkfoundation.orgAustin, TX

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The mission of the Norwood Park Foundation is to restore the Norwood house to its historic exterior appearance, rehabilitate the surrounding historic grounds and gardens, and repurpose the property to serve the people of austin as a premier, nonprofit and self-sustaining rental venue and community meeting space. The most significant activities of the Norwood Park Foundation since its incorporation have been the stabilization of the historic Norwood house, stewarding of the Norwood site in an ongoing manner, accomplishing all design work for the project, permitting the project, and raising money to complete the project. Form 990 - organization's mission the mission of the Norwood Park Foundation is to restore the Norwood house to its historic exterior appearance, rehabilitate the surrounding historic grounds and gardens, and repurpose the property to serve the people of austin as a premier, nonprofit and self-sustaining rental venue and community meeting space. Form 990, part vi, line 1

98¢ of each $1 spent went to programs.
Run by 25 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $187K a year · 1974% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 10.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $200
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$487K
×17 of total assets
Concern: liabilities are 1700% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4K
-75% vs prior year
Spent
$32K
To programs
98%
Net assets
−$458K
By yearFY2020–FY2021
Revenue
$4K
FY2021▼ -75%
Tap a bar for its year
Revenue by fiscal year
FY2020$15K
FY2021$4K
Expenses
$32K
FY2021▼ -91%
Tap a bar for its year
Expenses by fiscal year
FY2020$362K
FY2021$32K
Net assets
−$458K
FY2021▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2020−$430K
FY2021−$458K

From the FY2021 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $31K Management & general 2% · $519

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Charles Di Piazza
Vice-Preside
$0Pt VII · Sec A
Teri O'Glee
Vice Chair
$0Pt VII · Sec A
Suzy Fields
At-Large
$0Pt VII · Sec A
$0Pt VII · Sec A
Chris Riley
At-Large
$0Pt VII · Sec A
Gary Furman
At-Large
$0Pt VII · Sec A
$0Pt VII · Sec A
See Norwood Park Foundation executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Restores a historic house and grounds, creating a community rental venue and meeting space.

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1 program · $31K · in their own filed words · FY2021
01

In a PUBLIC/PRIVATE partnership with the city of austin, restore and maintain austin's historic norwood house, with the vision of hosting events to share the public park asset with the community in a self-sustaining fashion, and ensure its future protection.

$31Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
Luckens-Mcadams Foundation a Texas Nonprofit CorporationFY2020$200
Total grants receivedfrom 1 funder$200

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$4K
Ln 12
Gifts and grantsLn 1h$4K
Investment incomeLn 3$3
Money outPt IX
$32K
Ln 25
Programscol B$31K
Managementcol C$519
Owns and owesPt X
−$458K
net assets · Ln 32
Cash and savingsLn 1–2$29K
Total assetsLn 16$30K
LiabilitiesLn 26$487K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4K
Noncash giftsLn 1g$630
Investment incomeLn 3$3
Total revenueLn 12$4K
Assets in detailPt X, end of year
CashLn 1$9K
SavingsLn 2$20K
Cash and savings togetherLn 1–2$29K
Prepaid expenses and deferred chargesLn 9$1K
Total assetsLn 16$30K
LiabilitiesLn 26$487K
Net assetsLn 32−$458K
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$54K$29K
Total assetsLn 16$56K$30K
LiabilitiesLn 26$485K$487K
Net assetsLn 32−$430K−$458K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$666$580$86
Office expensesLn 13$160$139$21
Information technologyLn 14$184$160$24
InterestLn 20$631$549$82
InsuranceLn 23$2K$2K$296
Other expenses (24a–d)Ln 24$28K$28K$10
Total functional expensesLn 25$32K$31K$519$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest ViewingFiled with the IRS May 16, 2022 $4K$32K−$28K−$458K 990 PDF
FY2020Filed with the IRS Nov 15, 2021 $15K$362K−$346K−$430K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $3,828 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $14,297$3,825
I-9 Program service revenue$0
I-10 Investment incomePrior year $837$3
I-11 Other revenue$0
I-12 Total revenuePrior year $15,134$3,828
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $361,516$31,801
I-18 Total expensesPrior year $361,516$31,801
I-19 Revenue less expensesPrior year −$346,382−$27,973
Part VI · Governance 8 of 8 board members independent, 3 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $3,828 across 5 lines filed
VIII-1f All other contributions, gifts and grants$3,825
VIII-1g Noncash contributions (included above)$630
VIII-1h Total contributions, gifts and grants$3,825
VIII-3 Investment incomeExcluded from tax $3$3
VIII-12 Total revenueExcluded from tax $3$3,828
Part IX · Statement of functional expenses $31,801 across 6 lines filed
IX-11c Accounting feesPrograms $580 · Management $86$666
IX-13 Office expensesPrograms $139 · Management $21$160
IX-14 Information technologyPrograms $160 · Management $24$184
IX-20 InterestPrograms $549 · Management $82$631
IX-23 InsurancePrograms $1,994 · Management $296$2,290
IX-24 Other expenses (24a–d)Programs $27,860 · Management $10$27,870
IX-25 Total functional expensesPrograms $31,282 · Management $519 · Fundraising $0$31,801
Part X · Balance sheet $29,731 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $8,794$8,600
X-2 Savings and temporary cash investmentsStart of year $45,169$20,072
X-9 Prepaid expenses and deferred chargesStart of year $1,805$1,059
X-16 Total assetsStart of year $55,768$29,731
X-17 Accounts payable and accrued expensesStart of year $302$2,238
X-22 Loans from officers and insidersStart of year $485,000$485,000
X-26 Total liabilitiesStart of year $485,302$487,238
X-27 Net assets without donor restrictionsStart of year −$429,534−$457,507
X-32 Total net assets or fund balancesStart of year −$429,534−$457,507
X-33 Total liabilities and net assetsStart of year $55,768$29,731
Part XI · Reconciliation of net assets −$457,507 net assets at year end
XI-1 Total revenue$3,828
XI-2 Total expenses$31,801
XI-3 Revenue less expenses−$27,973
XI-4 Net assets at start of year−$429,534
XI-10 Net assets at end of year−$457,507

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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