CITY 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

2021

Legal Domicile

Principal Officer

MARCY S DEPINA

Phone

2013418311

Tax Period

2023-01-01 to 2023-12-31

CITY PARKS FOUNDATION INC, founded in 2021, is a small nonprofit in the Public & Societal Benefit sector that reported $713K in total revenue in fiscal year 2023. Revenue fell 68% from the prior year — a significant decline worth monitoring. Expenses of $2.0M exceeded revenue, resulting in a 183% operating deficit.

Mission

TO ENCOURAGE THE CITY OF NEWARK TO USE THEIR NEIGHBORHOOD PARKS BY OFFERING COMMUNITY-BUILDING PROGRAMS THAT BRING PEOPLE INTO THEIR LOCAL GREEN SPACES.

Program Service Accomplishments

Program 1

Expenses: $1,855,744 Revenue: $25,567

CITY PARKS FOUNDATION, INC. OFFERS FREE PUBLIC PROGRAMS DESIGNED TO ENGAGE WITH THOSE WHO LIVE, WORK AND VISIT THE CITY OF NEWARK. OUR PROGRAMS RANGE FROM ARTS AND CULTURE, HEALTH AND FITNESS, AND...

CITY PARKS FOUNDATION, INC. OFFERS FREE PUBLIC PROGRAMS DESIGNED TO ENGAGE WITH THOSE WHO LIVE, WORK AND VISIT THE CITY OF NEWARK. OUR PROGRAMS RANGE FROM ARTS AND CULTURE, HEALTH AND FITNESS, AND ENVIRONMENTAL EDUCATION AND ARE ACCESSIBLE TO ALL. THE EVENTS INTEND TO WELCOME PEOPLE TO UTILIZE THEIR PUBLIC SPACE AND TO BUILD PARK STEWARDSHIP. WE WORK WITH A VARIETY OF PARTNERS INCLUDING THE CITY OF NEWARK, LOCAL NON-PROFIT, ARTS, AND EDUCATIONAL INSTITUTIONS AND THE COMMUNITY TO CREATE PROGRAMS THAT DIRECTLY BENEFIT THE CITY AND ITS RESIDENTS.

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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 $634,656

Program Service Revenue $25,567

Investment Income $23,253

Other Revenue $29,414

TOTAL REVENUE $712,890

Expense Breakdown

Grants Paid $0

Salaries & Benefits $250,948

Fundraising Expenses $52,723

Program Expenses $1,855,744

Other Expenses $1,767,403

TOTAL EXPENSES $2,018,351

Year-over-Year Comparison

	2023	2022	Change
Revenue	$712,890	$2,229,371	-0.7%
Expenses	$2,018,351	$1,184,858	+0.7%
Net Income	$-1,305,461	$1,044,513	-2.2%

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

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

$152,141

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANTHONY SMITH	CHAIR	2.00	Officer Director	$0	$0	$0
SARAH KEH	VICE CHAIR	2.00	Officer Director	$0	$0	$0
AMBER RANDOLPH	TREASURER	2.00	Officer Director	$0	$0	$0
CRAIG SMITH	SECRETARY	2.00	Officer Director	$0	$0	$0
MARC BERSON	BOARD MEMBER	2.00	Director	$0	$0	$0
CHRISTINE GILFILLAN	BOARD MEMBER	2.00	Director	$0	$0	$0
DONNA KIRKLAND	BOARD MEMBER	2.00	Director	$0	$0	$0
COUNCIL PRESIDENT LAMONICA MCIVER	BOARD MEMBER	2.00	Director	$0	$0	$0
DONNELL REDDING	BOARD MEMBER	2.00	Director	$0	$0	$0
DOUG SARINI	BOARD MEMBER	2.00	Director	$0	$0	$0
MARCY S DEPINA	EXECUTIVE DIRECTOR	40.00	Officer	$150,000	$2,141	$152,141

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	$712,890	$2,018,351	$1,111,904	$-1,305,461
2022	$2,229,371	$1,184,858	$2,314,314	$1,044,513