SUMMIT METRO PARKS FOUNDATION

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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

1991

Legal Domicile

Principal Officer

S Theresa Carter

Phone

3308675511

Tax Period

2023-01-01 to 2023-12-31

SUMMIT METRO PARKS FOUNDATION, founded in 1991, is a community nonprofit in the Environment sector that reported $2.8M in total revenue in fiscal year 2023. Revenue surged 123% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.4M, a strong 49% operating margin.

Mission

The organization operates for the benefit of Summit Metro Parks to further its charitable purpose.

Program Service Accomplishments

Program 1

Expenses: $1,078,770 Revenue: $0

The Summit Metro Parks Foundation provided funds for the construction of the River Access at Cascade Valley Metro Park Valley View area, Rock & Herb Garden pond reconstruction and trail improvements.

Program 2

Expenses: $98,304 Revenue: $55,300

The Summit Metro Parks Foundation provided funds to assist multiple Summit Metro Parks programs, including youth fishing, conservation programs, nature center programs and cycling without age.

Program 3

Expenses: $97,953 Revenue: $0

As one of the many collaborators for the Reimagining Civic Commons project convened by the Ohio and Erie Canalway Coalition, the Summit Metro Parks Foundation has continued program support at the...

As one of the many collaborators for the Reimagining Civic Commons project convened by the Ohio and Erie Canalway Coalition, the Summit Metro Parks Foundation has continued program support at the Summit Lake Nature Center in the Summit Lake neighborhood of Akron along the Ohio and Erie Towpath Trail.

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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 $2,771,594

Program Service Revenue $0

Investment Income $491

Other Revenue $4,322

TOTAL REVENUE $2,776,407

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $38,770

Program Expenses $1,322,196

Other Expenses $1,402,246

TOTAL EXPENSES $1,402,246

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,776,407	$1,247,131	+1.2%
Expenses	$1,402,246	$227,661	+5.2%
Net Income	$1,374,161	$1,019,470	+0.3%

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

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
S Theresa Carter	President	1	Officer Director	$0	$0	$0
Rev Dr Curtis T Walker Sr	Treasurer	1	Officer Director	$0	$0	$0
Mark Spisak	Secretary	1	Officer Director	$0	$0	$0
Herbert Newman	Trustee	1	Director	$0	$0	$0
Joel Bailey	Trustee	1	Director	$0	$0	$0
Lisa King	Summit Metro Parks, Executive Director	5	Officer	$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	$2,776,407	$1,402,246	$2,868,937	$1,374,161
2022	$1,247,131	$227,661	$1,494,776	$1,019,470
2021	$369,611	$983,040	$475,306	$-613,429
2020	$200,344	$1,435,676	$1,088,735	$-1,235,332
2019	$1,638,952	$547,146	$2,324,067	$1,091,806
2018	$1,399,016	$2,040,722	$1,232,261	$-641,706