FRIENDS OF THE PARKS

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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

1975

Legal Domicile

Principal Officer

Brian Gladstein

Phone

3128572757

Tax Period

2025-01-01 to 2025-12-31

FRIENDS OF THE PARKS, founded in 1975, is a small nonprofit in the Recreation & Sports sector that reported $565K in total revenue in fiscal year 2025. Revenue decreased 12% compared to the prior year.

Mission

FRIENDS OF THE PARKS INSPIRES, EQUIPS, AND MOBILIZES A DIVERSE CHICAGO TO ENSURE AN EQUITABLE PARK SYSTEM FOR A HEALTHY CHICAGO.

Program Service Accomplishments

Program 1

Expenses: $57,523 Revenue: $0

NEIGHBORHOOD PARKS PROGRAM- PARTNERS WITH AND EDUCATES PARK ADVISORY COUNCILS, COMMUNITY ORGANIZATIONS, AND CITIZENS TO IMPROVE NEIGHBORHOOD PARKS, PLAYGROUNDS AND OPEN SPACES.

Program 2

Expenses: $118,067 Revenue: $0

RESEARCH PLANNING AND POLICY PROGRAM - SERVES TO PROTECT CHICAGO'S NEIGHBORHOOD PARKS, PRESERVES, AND LAKEFRONT BY CONDUCTING RESEARCH AND ANALYZING THE CURRENT STATE OF THE PARKS IN ORDER TO...

RESEARCH PLANNING AND POLICY PROGRAM - SERVES TO PROTECT CHICAGO'S NEIGHBORHOOD PARKS, PRESERVES, AND LAKEFRONT BY CONDUCTING RESEARCH AND ANALYZING THE CURRENT STATE OF THE PARKS IN ORDER TO ADVOCATE FOR IMPROVED POLICIES AND PROCEDURES THAT WILL LEAD TO DIRECT IMPROVEMENT OF CHICAGO PARKS.

Program 3

Expenses: $112,284 Revenue: $0

ENVIRONMENTAL EDUCATION PROGRAM - PROVIDES ENVIRONMENTAL EDUCATION TO ELEMENTARY AND HIGH SCHOOL STUDENTS, AS WELL AS SERVICE OPPORTUNITIES FOR STUDENTS.

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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 $551,660

Program Service Revenue $0

Investment Income $0

Other Revenue $13,791

TOTAL REVENUE $565,451

Expense Breakdown

Grants Paid $0

Salaries & Benefits $362,275

Fundraising Expenses $111,622

Program Expenses $330,305

Other Expenses $234,771

TOTAL EXPENSES $597,046

Year-over-Year Comparison

	2025	2024	Change
Revenue	$565,451	$643,726	-0.1%
Expenses	$597,046	$471,034	+0.3%
Net Income	$-31,595	$172,692	-1.2%

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

$17,820

Total Directors

$174,751

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Brian Gladstein	Executive Director	40	Director	$107,500	$0	$107,500
Jennifer Kilgore	Interim Executive Director	40	Director	$49,431	$0	$49,431
Pete Leki	Director	2	Officer Director	$17,820	$0	$17,820
Bronwyn Nichols Lodato	Board Chair	2	Officer Director	$0	$0	$0
Lauren Moltz	1st Vice Chair	2	Officer Director	$0	$0	$0
Deborah Strauss	2nd Vice Chair	2	Officer Director	$0	$0	$0
Thurman Foreman	Treasurer	2	Officer Director	$0	$0	$0
Nancy Juda	Secretary	2	Officer Director	$0	$0	$0
Frederick Bates	Director	2	Officer Director	$0	$0	$0
Lorraine Chavez	Director	2	Officer Director	$0	$0	$0
Sheldon Lyke	Director	2	Officer Director	$0	$0	$0
Troy McMillan	Director	2	Officer 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	$565,451	$597,046	$1,232,678	$-31,595
2024	$643,726	$471,034	$1,312,178	$172,692
2023	$346,594	$566,118	$1,085,022	$-219,524
2022	$707,512	$638,372	$1,315,588	$69,140
2021	$644,835	$623,612	$999,319	$21,223
2020	$721,262	$578,479	$1,032,172	$142,783
2019	$623,995	$587,943	$865,066	$36,052
2018	$554,602	$676,970	$1,005,785	$-122,368