21ST CENTURY PARKS 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

2004

Legal Domicile

Principal Officer

DR DANIEL H JONES

Phone

5025843912

Tax Period

2025-01-01 to 2025-12-31

21ST CENTURY PARKS INC, founded in 2004, is a community nonprofit in the Recreation & Sports sector that reported $5.7M in total revenue in fiscal year 2025. Expenses of $8.1M exceeded revenue, resulting in a 43% operating deficit.

Mission

21ST CENTURY PARKS SERVES AS A STEWARD ENTRUSTED TO PRESERVE AND SUSTAIN UNEXCELLED PARKLANDS THAT REFLECT THE NEEDS AND VALUES OF OUR WHOLE COMMUNITY. THE GOAL OF THE PARKLANDS OF FLOYDS FORK IS TO OPERATE A WORLD-CLASS, SYSTEMIC ADDITION TO LOUISVILLE'S PARK SYSTEM; IF DONE RIGHT, THE OUTCOME IS THE CREATION OF THE FINEST URBAN EDGE IN THE COUNTRY.

Program Service Accomplishments

Program 1

Expenses: $5,540,497

RECREATION:21ST CENTURY PARKS INC. DEVELOPS, FUNDS AND OPERATES THE PARKLANDS OF FLOYDS FORK. THIS OVER 4,000-ACRE PUBLIC PARK IS COMPLETE, MAKING IT THE LARGEST URBAN PARK SYSTEM BUILT IN THE NATION IN AT LEAST THE LAST 20 YEARS. EVEN MORE UNIQUE, THIS PARK CHARGES NO ADMISSION FEE AND OPERATES WITHOUT RECEIVING ANNUAL PUBLIC TAX DOLLARS FOR OPERATIONS. IN 2025, THE PARKLANDS HOSTED NEARLY 4 MILLION VISITORS FROM ACROSS THE REGION. THESE VISITORS HIKED AND BIKED THE 46 MILES OF MULTI-USE TRAILS, PADDLED 22 MILES OF FLOYDS FORK AND PLAYED GAMES ON 20 MULTI-USE SPORTS FIELDS. IN COLLABORATION WITH PARTNERS, 21ST CENTURY PARKS STOCKED MORE THAN 10,000 FISH IN THE PARKLANDS LAKES AND STREAMS FOR THE ANGLING COMMUNITY, PROVIDED 81 PLOTS FOR COMMUNITY GARDENS AND REGISTERED ALMOST 400 DOG OWNERS AT THE BARKLANDS DOG PARK. AREA INDIVIDUALS AND BUSINESSES CONTRIBUTED 1,500 VOLUNTEER HOURS IN THE PARKLANDS.

Program 2

Expenses: $811,204

CONSERVATION: 21ST CENTURY PARKS, INC. IS DEDICATED TO THE CONSERVATION AND ENRICHMENT OF THE LAND FOR WHICH IT IS RESPONSIBLE. THE ORGANIZATION EMPLOYS A FULL-TIME GARDENING AND NATURAL AREAS TEAM THAT REMOVED INVASIVE PLANT SPECIES ON MORE THAN 145 ACRES; MAINTAINED OVER 400 ACRES OF NATIVE MEADOWS; AND TREATED & CARED FOR THE THOUSANDS OF TREES AND SHRUBS PLANTED IN THE PARKLANDS. WE PARTICIPATED IN THE ENVIRONMENTAL QUALITY INCENTIVES PROGRAM: THE PARKLANDS PERFORMED RESTORATION WORK ON MORE THAN 50 ACRES WHICH INCLUDED ESTABLISHMENT OF RIPARIAN CORRIDORS, BRUSH AND WEED MANAGEMENT. 21ST CENTURY PARKS INC. ALSO MAINTAINS TWO GROVES OF ENDANGERED AMERICAN CHESTNUT TREES. IN 2025, 21ST CENTURY PARKS, INC. HARVESTED OVER 600 CHESTNUTS FOR PLANTING WITHIN THE PARKLANDS.

Program 3

Expenses: $724,027 Revenue: $287,608

EDUCATION:21ST CENTURY PARKS, INC. PROVIDES DYNAMIC, LIFE-CHANGING EXPERIENCES FOR LOUISVILLE-AREA YOUTH THAT CONNECT THEM WITH THE OUTDOORS AND OUR NATURAL KENTUCKY LANDSCAPE. THESE EXPERIENCES ARE DESIGNED TO INCITE CURIOSITY ABOUT OUR NATURAL WORLD WHILE FOCUSING ON STEM EDUCATION CURRICULUM THROUGH OUR OUTDOOR CLASSROOM PROGRAMMING. IN 2025, OUR EDUCATION TEAM DELIVERED OVER 26,600 EDUCATIONAL EXPERIENCES, INCLUDING MORE THAN 14,000 SCHOLARSHIPS TO TITLE 1 STUDENTS FOR IN-PARK FIELD TRIPS AND IN-CLASSROOM OUTREACH.

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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 (2025)

Revenue Breakdown

Contributions & Grants $5,420,206

Program Service Revenue $276,966

Investment Income $39,075

Other Revenue $-74,280

TOTAL REVENUE $5,661,967

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,895,391

Fundraising Expenses $490,333

Program Expenses $7,075,728

Other Expenses $5,228,158

TOTAL EXPENSES $8,123,549

Year-over-Year Comparison

	2025	2024	Change
Revenue	$5,661,967	$5,254,829	+0.1%
Expenses	$8,123,549	$7,723,077	+0.1%
Net Income	$-2,461,582	$-2,468,248	0.0%

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

Volunteers

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

$550,047

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID MORGAN	PRESIDENT AND ASST TREASURER	40.00	Officer	$345,013	$30,139	$375,152
SAM STEWART	VICE PRESIDENT OF DEVELOPMENT AND ADMINISTRATION	40.00	Officer	$161,172	$13,723	$174,895
LISA M JESSIE	CONTROLLER	40.00	Highest	$121,430	$11,428	$132,858
AARON BOGGS	DIRECTOR OF HORTICULTURE, NATURAL AREAS AND TRAILS	40.00	Highest	$112,421	$11,306	$123,727
KIRK DOLAN	PARK SUPERINTENDENT	40.00	Highest	$108,974	$11,276	$120,250
DR DANIEL H JONES	CHAIRMAN	20.00	Officer Director	$0	$0	$0
LAURA FORBES	SECRETARY	1.00	Officer	$0	$0	$0
BRYAN K JOHNSON	TREASURER	1.00	Officer Director	$0	$0	$0
LOUANN ATLAS	DIRECTOR	1.00	Director	$0	$0	$0
CAROL L JONES	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES P MARSH	DIRECTOR	1.00	Director	$0	$0	$0
JOHN A MOORE	DIRECTOR	1.00	Director	$0	$0	$0
KENNETH L PAYNE	DIRECTOR	1.00	Director	$0	$0	$0
HANK ROBINSON	DIRECTOR	1.00	Director	$0	$0	$0
DAVID Y WOOD	DIRECTOR	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
2025	$5,661,967	$8,123,549	$93,590,293	$-2,461,582
2024	$5,254,829	$7,723,077	$96,411,639	$-2,468,248
2023	$12,089,541	$7,467,583	$97,805,389	$4,621,958
2022	$4,667,701	$7,269,630	$93,327,584	$-2,601,929
2021	$4,921,884	$7,001,513	$96,568,908	$-2,079,629
2020	$4,136,278	$6,832,998	$99,057,756	$-2,696,720
2019	$4,824,529	$7,061,926	$102,500,305	$-2,237,397
2019	$4,824,529	$7,061,926	$102,500,305	$-2,237,397
2018	$5,689,582	$7,017,860	$106,068,609	$-1,328,278