Nonprofit · EIN 16-6071043
PARK FOUNDATION INC
Also known as THE NORTHERN TRUST CO
Tax-exempt · ITHACA, NY 14850
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $34,324,264 | $38,465,716 | -$4,141,452 | $406,024,147 | $21,876,024 | $384,148,123 |
| December 31, 2023 | 990-PF | $13,991,627 | $33,679,514 | -$19,687,887 | $383,671,762 | $25,259,684 | $358,412,078 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $852
- Dividends
- $1,904,508
- Interest
- $2,302,488
- Net gain from sales of assets
- $30,079,097
- Other income
- $37,319
Expenses
- Grants and similar amounts paid
- $32,530,735
- Compensation of officers, directors and key employees
- $308,334
- Salaries, compensation and benefits (total)
- $1,219,824
- Disbursements for charitable purposes
- $32,509,193
- Excise tax on investment income
- $425,906
Balance sheet and other
- Total assets, start of year
- $383,671,762
- Total assets, end of year
- $406,024,147
- Total liabilities, end of year
- $21,876,024
- Net assets, end of year
- $384,148,123
- Fair market value of assets
- $406,024,147
- Qualifying distributions
- $33,396,030
- Net investment income
- $34,794,345
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RACHEL LEON C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | EXECUTIVE DIRECTOR | 35 | $281,108 | $63,306 |
| AMY B PANEK C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | SR. PROGRAM OFFICER Highest-paid employee | 35 | $121,591 | $41,314 |
| ROBERTA M NORMAN C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | CFO Highest-paid employee | 35 | $103,407 | $36,680 |
| SUE D KITTEL C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | SR. PROGRAM OFFICER Highest-paid employee | 35 | $99,761 | $37,698 |
| MICHAEL J CONNOR C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | SR. PROGRAM OFFICER Highest-paid employee | 35 | $94,255 | $17,592 |
| TANIA Y CORNISH C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | GRANTS MANAGER Highest-paid employee | 35 | $93,622 | $38,904 |
| ADELAIDE P GOMER C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | PRESIDENT | 9.53 | $50,000 | $0 |
| ALICIA P WITTINK C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | VICE PRESIDENT | 9.85 | $50,000 | $0 |
| DONNA F EDWARDS C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | DIRECTOR | 4.08 | $50,000 | $0 |
| JAY R HALFON C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | SECRETARY/TREASURER | 3.94 | $50,000 | $0 |
| LISA GRAVES C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | DIRECTOR | 3.96 | $50,000 | $0 |
| RAY PAULTRE C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | DIRECTOR | 4.19 | $50,000 | $0 |
| JEROME B LIBIN C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | DIRECTOR | 0.06 | $8,333 | $0 |
990-PF for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RACHEL LEON C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | EXECUTIVE DIRECTOR | 35 | $276,398 | $59,321 |
| AMY B PANEK C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | SR. PROGRAM OFFICER Highest-paid employee | 35 | $117,726 | $30,098 |
| ROBERTA M NORMAN C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | CFO Highest-paid employee | 35 | $101,879 | $34,731 |
| SUE D KITTEL C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | SR. PROGRAM OFFICER Highest-paid employee | 35 | $95,473 | $35,739 |
| MICHAEL J CONNOR C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | SR. PROGRAM OFFICER Highest-paid employee | 35 | $95,334 | $17,332 |
| TANIA Y CORNISH C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | GRANTS MANAGER Highest-paid employee | 35 | $89,861 | $36,692 |
| ADELAIDE P GOMER C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | PRESIDENT | 9.92 | $50,000 | $0 |
| ALICIA P WITTINK C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | VICE PRESIDENT | 9.63 | $50,000 | $0 |
| DONNA F EDWARDS C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | DIRECTOR | 4 | $50,000 | $0 |
| JAY R HALFON C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | SECRETARY/TREASURER | 3.83 | $50,000 | $0 |
| JEROME B LIBIN C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | DIRECTOR | 3.38 | $50,000 | $0 |
| LISA GRAVES C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | DIRECTOR | 4 | $12,500 | $0 |
| RAY PAULTRE C/O PARK FOUNDATION INC PO BOX 550, ITHACA, NY 14851 | DIRECTOR | 4.08 | $12,500 | $0 |
Address and contacts
- Address (IRS master file)
- 140 SENECA WAY STE 100, ITHACA, NY 14850-4396
- Signed the 990-PF
- RACHEL LEON, EXECUTIVE DIRECTOR
- Phone
- (607) 272-9124
- Website
- WWW.PARKFOUNDATION.ORG
- Return prepared by
- PWC US TAX LLP
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 16-6071043
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1967
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $406,024,147
- Income (IRS master file)
- $130,234,948
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $34,324,264 | $38,465,716 | $406,024,147 | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990-PF | December 2023 | $13,991,627 | $33,679,514 | $383,671,762 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 16-6071043).
Questions about PARK FOUNDATION INC
- What is the EIN of PARK FOUNDATION INC?
- The employer identification number (EIN) of PARK FOUNDATION INC is 16-6071043.
- Is PARK FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1967.
- Are donations to PARK FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does PARK FOUNDATION INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of PARK FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PARK FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of PARK FOUNDATION INC?
- The 990-PF for the year ended December 31, 2024 lists 13 people; 13 received compensation from the organization, the highest $281,108 (RACHEL LEON, EXECUTIVE DIRECTOR).
- How much revenue does PARK FOUNDATION INC have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $34,324,264, expenses of $38,465,716 and total assets of $406,024,147 at year end.
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