Parks Charitable Foundation: FY2021 Nonprofit Profile & Form 990 (EIN 62-6340858)

Revenue by fiscal year
FY2020	$599K
FY2021	$66K
FY2022	$18K
FY2023	$7K

Expenses by fiscal year
FY2020	$557K
FY2021	$57K
FY2022	$57K
FY2023	$713K

Net assets by fiscal year
FY2020	$831K
FY2021	$779K
FY2022	$707K
FY2023	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

87 cents of each dollar spent went to programs.

87%

13%

Program services 87% · $50K Management & general 13% · $7K

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

2 people listed on the 990.

Part VII, Section A · reportable compensation

Jack Mitchell

Board Member

$0Pt VII · Sec A

Planters Bank

Trust Office

$0Pt VII · Sec A

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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 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports Clarksville Academy students and programs through charitable giving.

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Provided by the organization

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1 program · in their own filed words · FY2021

01

Parks charitable foundation is established for the use and benefit of clarksville academy, clarksville tennessee.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$66K

Ln 12

Other incomeLn 4–11$50K

Investment incomeLn 3$16K

Money outPt IX

$57K

Ln 25

Programscol B$50K

Managementcol C$7K

Owns and owesPt X

$779K

net assets · Ln 32

Cash and savingsLn 1–2$30K

Total assetsLn 16$779K

LiabilitiesLn 26$0

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a4

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$16K

Other incomeLn 4–11$50K

Gains on assetsLn 7$7K

Total revenueLn 12$66K

Assets in detailPt X, end of year

SavingsLn 2$30K

Cash and savings togetherLn 1–2$30K

InvestmentsLn 11–13$334K

Other assetsLn 15$415K

Total assetsLn 16$779K

LiabilitiesLn 26$0

Net assetsLn 32$779K

OperationsPt I, VI

EmployeesI 50

Fiscal year endsHeaderDecember

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

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$14K	$30K
InvestmentsLn 11–13	$301K	$334K
Total assetsLn 16	$831K	$779K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$831K	$779K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Benefits paid to or for membersLn 4	$50K	$50K
Accounting feesLn 11c	$850		$850
Investment management feesLn 11f	$4K		$4K
Other fees for servicesLn 11g	$2K		$2K
Total functional expensesLn 25	$57K	$50K	$7K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2023 Latest	$7K	$713K	−$707K	$0	990 PDF
FY2022	$18K	$57K	−$39K	$707K	990 PDF
FY2021 Viewing	$66K	$57K	$8K	$779K	990 PDF
FY2020	$599K	$557K	$42K	$831K	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2021 990 (6 parts)

Part I · Summary $65,730 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenue$0

I-10 Investment incomePrior year $99,190$15,730

I-11 Other revenuePrior year $500,000$50,000

I-12 Total revenuePrior year $599,190$65,730

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to membersPrior year $550,000$50,000

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $7,052$7,238

I-18 Total expensesPrior year $557,052$57,238

I-19 Revenue less expensesPrior year $42,138$8,492

Part VI · Governance 2 of 4 board members independent, 5 to look at

VI-1a Voting members of the governing body4

VI-1b Independent voting members2

VI-2 Family or business relationship among officers or directorsYes

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

Part VIII · Statement of revenue $65,730 across 4 lines filed

VIII-3 Investment incomeRelated to mission $8,780$8,780

VIII-7 Net gain or loss on sales of assetsRelated to mission $6,950$6,950

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $50,000$50,000

VIII-12 Total revenueRelated to mission $65,730$65,730

Part IX · Statement of functional expenses $57,238 across 4 lines filed

IX-4 Benefits paid to or for membersPrograms $50,000$50,000

IX-11c Accounting feesManagement $850$850

IX-11f Investment management feesManagement $4,152$4,152

IX-11g Other fees for servicesManagement $2,236$2,236

IX-25 Total functional expensesPrograms $50,000 · Management $7,238 · Fundraising $0$57,238

Part X · Balance sheet $778,809 assets, 7 lines filed

X-2 Savings and temporary cash investmentsStart of year $14,495$29,701

X-11 Publicly traded securitiesStart of year $301,419$334,108

X-15 Other assetsStart of year $515,004$415,000

X-16 Total assetsStart of year $830,918$778,809

X-26 Total liabilitiesStart of year $0$0

X-32 Total net assets or fund balancesStart of year $830,918$778,809

X-33 Total liabilities and net assetsStart of year $830,918$778,809

Part XI · Reconciliation of net assets $778,809 net assets at year end

XI-1 Total revenue$65,730

XI-2 Total expenses$57,238

XI-3 Revenue less expenses$8,492

XI-4 Net assets at start of year$830,918

XI-9 Other changes in net assets−$60,601

XI-10 Net assets at end of year$778,809

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

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Parks Charitable Foundation FY2021 filing

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