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Friendly Park INC FY2021 filing

Not tax-deductible

Greensboro, NC501(c)(7)Mutual / membership EIN 56-0674203Revenue $330K in FY2021

On file with the IRSPo Box 10138, 27404-0138 · Greensboro, NCTax-exempt since Mar 1960

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Swim & Tennis Club

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $54K a year · 15% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 12.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$192K
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
447
of 447 voting members
Looks good: 447 of 447 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$330K
+52% vs prior year
Spent
$273K
To programs
100%
Net assets
$536K
By yearFY2020–FY2025
Revenue
$330K
FY2021▲ +52%
Tap a bar for its year
Revenue by fiscal year
FY2020$217K
FY2021$330K
FY2022$371K
FY2023$399K
FY2024$418K
FY2025$419K
Expenses
$273K
FY2021▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2020$250K
FY2021$273K
FY2022$285K
FY2023$322K
FY2024$350K
FY2025$350K
Net assets
$536K
FY2021▲ +19%
Tap a bar for its year
Net assets by fiscal year
FY2020$452K
FY2021$536K
FY2022$653K
FY2023$714K
FY2024$783K
FY2025$888K

From the FY2021 Form 990 (year ending October 2021) · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1960.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $273K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Peter Carver
President
$0Pt VII · Sec A
Michael Driver
Vice President
$0Pt VII · Sec A
Ting Gao
Secretary
$0Pt VII · Sec A
Margee Shore
Treasurer
$0Pt VII · Sec A
See Friendly Park INC executive salaries →

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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

Programs and updates

Friendly Park INC is a member-serving organization based in Greensboro, NC.

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Provided by the organization

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1 program · $273K · in their own filed words · FY2020
01

Swim & Tennis Club

$273Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$330K
Ln 12
Gifts and grantsLn 1h$309K
Other incomeLn 4–11$21K
Investment incomeLn 3$12
Money outPt IX
$273K
Ln 25
Programscol B$273K
Owns and owesPt X
$536K
net assets · Ln 32
Cash and savingsLn 1–2$273K
Total assetsLn 16$729K
LiabilitiesLn 26$192K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a447
IndependentVI 1b447
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$309K
Investment incomeLn 3$12
Other incomeLn 4–11$21K
Total revenueLn 12$330K
Assets in detailPt X, end of year
CashLn 1$273K
Cash and savings togetherLn 1–2$273K
Land, buildings, equipmentLn 10c$455K
Total assetsLn 16$729K
LiabilitiesLn 26$192K
Net assetsLn 32$536K
OperationsPt I, VI
EmployeesI 532
VolunteersI 620
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aNo
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$183K$273K
Land, buildings, equipmentLn 10c$496K$455K
Total assetsLn 16$679K$729K
LiabilitiesLn 26$228K$192K
Net assetsLn 32$452K$536K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$88K$88K$0$0
Payroll taxesLn 10$7K$7K$0$0
Accounting feesLn 11c$6K$6K$0$0
Advertising and promotionLn 12$980$980$0$0
Office expensesLn 13$7K$7K$0$0
OccupancyLn 16$52K$52K$0$0
InterestLn 20$11K$11K$0$0
Depreciation, depletion and amortizationLn 22$41K$41K$0$0
InsuranceLn 23$15K$15K$0$0
Other expenses (24a–d)Ln 24$46K$46K$0$0
Total functional expensesLn 25$273K$273K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $419K$350K$69K$888K 990 PDF
FY2024 $418K$350K$67K$783K 990 PDF
FY2023 $399K$322K$77K$714K 990 PDF
FY2022 $371K$285K$86K$653K 990 PDF
FY2021 Viewing $330K$273K$56K$536K 990 PDF
FY2020 $217K$250K−$33K$452K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $329,749 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $210,751$309,233
I-9 Program service revenue$0
I-10 Investment incomePrior year $12$12
I-11 Other revenuePrior year $6,168$20,504
I-12 Total revenuePrior year $216,931$329,749
I-13 Grants and similar amounts paidPrior year $545$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $63,805$94,470
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $185,238$178,871
I-18 Total expensesPrior year $249,588$273,341
I-19 Revenue less expensesPrior year −$32,657$56,408
Part VI · Governance 447 of 447 board members independent, 4 to look at
VI-1a Voting members of the governing body447
VI-1b Independent voting members447
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $329,749 across 4 lines filed
Lines not itemized here account for $20,504 of total revenue; see the IRS return.
VIII-1b Membership dues$309,233
VIII-1h Total contributions, gifts and grants$309,233
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$12
VIII-12 Total revenueRelated to mission $20,516 · Unrelated business $0 · Excluded from tax $0$329,749
Part IX · Statement of functional expenses $273,341 across 10 lines filed
IX-7 Other salaries and wagesPrograms $87,858 · Management $0 · Fundraising $0$87,858
IX-10 Payroll taxesPrograms $6,612 · Management $0 · Fundraising $0$6,612
IX-11c Accounting feesPrograms $5,620 · Management $0 · Fundraising $0$5,620
IX-12 Advertising and promotionPrograms $980 · Management $0 · Fundraising $0$980
IX-13 Office expensesPrograms $7,226 · Management $0 · Fundraising $0$7,226
IX-16 OccupancyPrograms $52,268 · Management $0 · Fundraising $0$52,268
IX-20 InterestPrograms $11,351 · Management $0 · Fundraising $0$11,351
IX-22 Depreciation, depletion and amortizationPrograms $40,974 · Management $0 · Fundraising $0$40,974
IX-23 InsurancePrograms $14,580 · Management $0 · Fundraising $0$14,580
IX-24 Other expenses (24a–d)Programs $45,872 · Management $0 · Fundraising $0$45,872
IX-25 Total functional expensesPrograms $273,341 · Management $0 · Fundraising $0$273,341
Part X · Balance sheet $728,911 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $182,861$272,651
X-4 Accounts receivableStart of year $572$1,168
X-10c Land, buildings and equipment, netStart of year $496,066$455,092
X-16 Total assetsStart of year $679,499$728,911
X-17 Accounts payable and accrued expensesStart of year $1,066$430
X-24 Unsecured notes and loans payableStart of year $213,839$192,005
X-26 Total liabilitiesStart of year $227,882$192,435
X-32 Total net assets or fund balancesStart of year $451,617$536,476
X-33 Total liabilities and net assetsStart of year $679,499$728,911
Part XI · Reconciliation of net assets $536,476 net assets at year end
XI-1 Total revenue$329,749
XI-2 Total expenses$273,341
XI-3 Revenue less expenses$56,408
XI-4 Net assets at start of year$451,617
XI-8 Prior period adjustments$28,451
XI-10 Net assets at end of year$536,476

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

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