WESTCHESTER PARKS FOUNDATION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1977

Legal Domicile

Principal Officer

JOSEPH A STOUT

Phone

9142314600

Tax Period

2023-01-01 to 2023-12-31

WESTCHESTER PARKS FOUNDATION INC, founded in 1977, is a community nonprofit that reported $3.7M in total revenue in fiscal year 2023. Expenses of $4.1M exceeded revenue, resulting in a 11% operating deficit.

Mission

WESTCHESTER PARKS FOUNDATION, INC. IS A NOT-FOR-PROFIT ORGANIZATION WHOSE MISSION IS TO SUPPORT AND ENHANCE WESTCHESTER COUNTY PARKS BY PROMOTING THEIR VALUE FOR THE ECONOMIC, SOCIAL AND AESTHETIC VITALITY OF OUR COMMUNITY. OUR GOAL IS TO STIMULATE PUBLIC PARTICIPATION, INTEREST AND SUPPORT IN THE PRESERVATION OF NEARLY 18,000 ACRES OF PARKS, TRAIL WAYS. PATHWAYS AND OPEN SPACES. WPF HELPS OT KEEP THE PARKS SYSTEM CLEAN, GREEN AND GROWING!

Program Service Accomplishments

Program 1

Expenses: $309,809 Revenue: $195,288

VOLUNTEER PROGRAM / OTHER INITIATIVESIN 2023, OUR DEDICATED VOLUNTEERS MADE AN IMPRESSIVE IMPACT GIVING BACK TO THE PARKS THEY LOVE. BY THE END OF THE YEAR, 4,127 VOLUNTEERS HAD CONTRIBUTED 13,088...

VOLUNTEER PROGRAM / OTHER INITIATIVESIN 2023, OUR DEDICATED VOLUNTEERS MADE AN IMPRESSIVE IMPACT GIVING BACK TO THE PARKS THEY LOVE. BY THE END OF THE YEAR, 4,127 VOLUNTEERS HAD CONTRIBUTED 13,088 HOURS OF SERVICE TO THE PARKS, TRAILS, AND OPEN SPACES ACROSS THE COUNTY. THIS IS EQUIVALENT TO $391,993 WORTH OF INVESTMENT IN SWEAT EQUITY INTO WESTCHESTER PARKS. THIS YEAR WE WERE PLEASED TO STRENGTHEN COMMUNITY RELATIONSHIPS WITH LOCAL BUSINESSES AND SCHOOLS, THROUGH OUR VOLUNTEER PROJECTS AND INTERNSHIPS. THIS YEAR OUR CLEAN RIVER PROJECT CELEBRATED ITS SIXTH YEAR WITH SUPPORT OF SPONSOR PEPSICO AND OUR VOLUNTEER-LED GREEN SQUADS EXPANDED TO 20 LOCATIONS.

Program 2

Expenses: $821,230 Revenue: $1,143,805

WINTER WONDERLANDWESTCHESTER'S WINTER WONDERLAND AND DRIVE-THRU HOLIDAY EXTRAGAGANZA CONTINUES TO BE A CHERISHED AND MEMORABLE HOLIDAY TRADITION, NOW IN ITS TENTH SEASON IN 2023. IN PARTNERSHIP WITH WESTCHESTER COUNTY PARKS, RECREATION AND CONSERVATION, AND MADE POSSIBLE BY FOUNDING SPONSOR WESTCHESTER MEDICAL CENTER, WESTCHESTER PARKS FOUNDATION CONTINUES TO HOST A HOLIDAY EXPERIENCE THE WHOLE FAMILY COULD ENJOY. OVER 130,000 PEOPLE WERE DAZZLED AND DELIGHTED WITH 1.2 MILES OF HOLIDAY LIGHTS, WITH NEW LARGER THAN LIFE DISPLAYS, AND A VISIT WITH SANTA IN HIS NORTH POLE SNOW GLOBE, WITH THE ADDITION OF A SECOND LIVE CHARACTER.

Program 3

Expenses: $165,379 Revenue: $699,404

DRIVING RANGES WESTCHESTER PARKS FOUNDATION (WPF) OPERATES TWO DRIVING RANGES, ONE AT MOHANSIC IN YORKTOWN AND ONE AT DUNWOODIE IN YONKERS. IN ACCORDANCE WITH THE ORGANIZATION'S MISSION, WPF...

DRIVING RANGES WESTCHESTER PARKS FOUNDATION (WPF) OPERATES TWO DRIVING RANGES, ONE AT MOHANSIC IN YORKTOWN AND ONE AT DUNWOODIE IN YONKERS. IN ACCORDANCE WITH THE ORGANIZATION'S MISSION, WPF ENCOURAGES THE USE OF WESTCHESTER'S COUNTY PARKS, OF WHICH THESE DRIVING RANGES ARE PART, AND THE PROCEEDS COLLECTED AT THE RANGES ARE USED IN WPF'S PROGRAMS AND INVESTMENTS IN SUPPORT OF THE PARK SYSTEM, INCLUDING OUR VOLUNTEER PROGRAM AND MANY SPECIAL INVESTMENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $792,960

Program Service Revenue $2,733,478

Investment Income $15,674

Other Revenue $167,364

TOTAL REVENUE $3,709,476

Expense Breakdown

Grants Paid $618,129

Salaries & Benefits $1,723,667

Fundraising Expenses $375,539

Program Expenses $3,229,619

Other Expenses $1,784,188

TOTAL EXPENSES $4,125,984

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,709,476	$3,731,239	0.0%
Expenses	$4,125,984	$3,778,928	+0.1%
Net Income	$-416,508	$-47,689	+7.7%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

102

Volunteers

4127

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$157,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTINE LA PORTA	DEPUTY EXECUTIVE DIRECTOR	40.00	Highest	$138,467	$3,603	$142,070
ERIN CORDINER	DIRECTOR OF PHILANTHROPY	40.00	Highest	$105,221	$11,450	$116,671
SETH MANDELBAUM	CHAIRPERSON	10.00	Officer Director	$0	$0	$0
JOSEPH A STOUT	EXECUTIVE DIRECTOR	40.00	Officer	$0	$157,000	$157,000
JANE SOLNICK	VICE CHAIRPERSON	10.00	Officer Director	$0	$0	$0
MARK S TULIS	TREASURER	10.00	Officer Director	$0	$0	$0
JOHN KIRKPATRICK	SECRETARY TO 11/2023	10.00	Officer Director	$0	$0	$0
MARTIN A KAMARCK	SECRETARY FR 11/2023	10.00	Officer Director	$0	$0	$0
JOSEPH V APICELLA	TRUSTEE	1.00	Director	$0	$0	$0
MARC J BERMAN	TRUSTEE	1.00	Director	$0	$0	$0
KEITH R BETENSKY	TRUSTEE	1.00	Director	$0	$0	$0
NANETTE BOURNE	TRUSTEE	1.00	Director	$0	$0	$0
ELIZABETH BRACKEN-THOMPSON	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER CAWLEY	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS R HEASLIP JR	TRUSTEE	1.00	Director	$0	$0	$0
APRIL HORTON	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM S GREENWALT	TRUSTEE	1.00	Director	$0	$0	$0
CAROLYN MORIARTY	TRUSTEE	1.00	Director	$0	$0	$0
J HENRY NEALE JR	TRUSTEE	1.00	Director	$0	$0	$0
GLENN PACCHIANA	TRUSTEE	1.00	Director	$0	$0	$0
DOROTHY PLECHATY	TRUSTEE	1.00	Director	$0	$0	$0
ANTHONY F RIZZUTO	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL N ROMITA	TRUSTEE	1.00	Director	$0	$0	$0
JOHN P SULLIVAN	TRUSTEE	1.00	Director	$0	$0	$0
LARRY WILSON	TRUSTEE	1.00	Director	$0	$0	$0
ERICA CHILD	TRUSTEE	1.00	Director	$0	$0	$0
JOSEPH GRAZIONE	TRUSTEE	1.00	Director	$0	$0	$0
STEVE GIFFORD	TRUSTEE	1.00	Director	$0	$0	$0
SHELBY GREEN	TRUSTEE	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$3,709,476	$4,125,984	$4,102,197	$-416,508
2022	$3,731,239	$3,778,928	$4,350,565	$-47,689
2021	$3,829,268	$3,154,325	$3,736,356	$674,943
2021	$3,829,268	$3,154,325	$3,736,356	$674,943
2020	$3,829,100	$3,028,236	$2,672,180	$800,864
2019	$2,974,791	$2,930,533	$1,971,871	$44,258
2018	$2,503,783	$2,870,451	$2,148,162	$-366,668