Recreation Enhances Community Foundation REC Foundation

EIN: 770537083 501(c)(3) Recreation & Sports

Paso Robles, CA

Total Revenue
$553,427
Total Expenses
$733,211
Total Assets
$1,937,170
Net Assets
$1,937,170
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
CA
Principal Officer
Kathleen O'Connor
Phone
8052383940
Tax Period
2024-01-01 to 2024-12-31

Recreation Enhances Community Foundation REC Foundation, founded in 2000, is a small nonprofit in the Recreation & Sports sector that reported $553K in total revenue in fiscal year 2024. Revenue surged 110% from the prior year, signaling strong growth momentum. Expenses of $733K exceeded revenue, resulting in a 32% operating deficit.

Mission

REC Foundation is a non-profit, fundraising corporation committed to creating enhanced programs, places and open spaces for quality recreational experiences in Paso Robles.

Program Service Accomplishments

Program 1
Expenses: $589,663

PURCHASED NEW PUMP TRACK FOR BARNEY SCHWARTZ PARK

Program 2
Expenses: $59,000

JULY FOURTH COMMUNITY EVENT

Program 3
Expenses: $36,957

Concerts in the Park- SPONSORED 9 CONERTS WITH 2100 IN ATTENDANCE per concert.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $8,680
Program Service Revenue $128,353
Investment Income $416,394
Other Revenue $0
TOTAL REVENUE $553,427

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $724,400
Other Expenses $733,211
TOTAL EXPENSES $733,211

Year-over-Year Comparison

2024 2023 Change
Revenue $553,427 $263,062 +1.1%
Expenses $733,211 $162,586 +3.5%
Net Income $-179,784 $100,476 -2.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Liquidity & Cash Position

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

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
12

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
4
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Brandon Medeiros Honorary 0.50
Director
$0 $0 $0
VERONICA KRAL Director 0.50
Director
$0 $0 $0
DANNA STROUD Director 0.50
Director
$0 $0 $0
MIKE RUNDSTROM Director 0.50
Director
$0 $0 $0
ROSE O SULLIVAN VICE CHAIRIMAN 0.50
Director
$0 $0 $0
Kathleen O'Connor Treasurer 1.50
Officer
$0 $0 $0
Pat Bland Secretary 0.50
Officer
$0 $0 $0
CINDY PAUP vice Chair 0.50
Officer
$0 $0 $0
CHRISTOPHER TARANTO Chairman 2.00
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 $553,427 $733,211 $1,937,170 $-179,784
2023 $263,062 $162,586 $2,116,954 $100,476
2022 $238,953 $187,575 $2,016,478 $51,378
2021 $192,312 $66,683 $1,965,100 $125,629
2020 $158,049 $267,364 $1,839,471 $-109,315
2019 $232,044 $254,219 $1,948,786 $-22,175
2018 $214,837 $216,569 $1,970,961 $-1,732
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