Friends of Paterson Parks a Nj Nonprofit Corporation

Nonprofit profile at a glance

EIN
841863652
IRS 990 coverage
2022–2023
Forms available
Form 990 2023, Form 990-EZ 2021, Form 990-N 2020
Location
Paterson, NJ, USA
Phone
9732346874
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Parks and Playgrounds

Reported finances

Revenue
$254,215
Expenses
$551,664
Assets
$196,803
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • FRED ARDIS (PRESIDENT)

People named in this filing

  • FRED ARDIS (PRESIDENT)
  • MURAT BAYCORA (VP)
  • DACIL TILOS (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Friends of Paterson Parks is a non-profit organization based in Paterson New Jersey. Its mission is to protect enhance and advocate for the citys park system by pursuing grant opportunities soliciting corporate donations conducting annual fundraising campaigns and pursuing all available avenues of fundraising exclusively for the benefit of the city parks. The organization was founded in 2019 by dedicated volunteers passionate about preserving and improving Patersons parks. They recognized the importance of public green spaces for the health and well-being of the community and the vital role that parks play in creating a sense of place and identity for Patersons residents. One of the key ways that Friends of Paterson Parks supports the citys park system is by pursuing grant opportunities. The organization works with government agencies private foundations and other organizations to secure funding for park improvement projects such as the installation of new playground equip

What it reported doing in 2023

The friends of paterson played fpp a significant role in transforming lester titus field into a safe and accessible play space for the community. Through the collaboration with the city of paterson nj - fpp secured the support of marilyn clark who generously donated $600,000 to the project

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 30
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -117%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.36; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 77.8% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 46.4% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 31.9% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 11 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $552K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 40 of 41 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2022 to 2023
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.