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Panhandle Park Foundation reports modest revenues and holds land for future park projects
Summary
A volunteer from the Panhandle Park Foundation told the commission the group receives a $5,000 annual grant from the parks department, reported about $17,000 in revenue last year, holds roughly $80,000 in liquid assets and two property deeds with an estimated combined value in the hundreds of thousands of dollars for potential future park use.
Chris Jamtas, a volunteer with the Panhandle Park Foundation, presented an overview of the foundation's history, mission and finances to the Parks and Recreation Commission on May 18.
Jamtas said the foundation was established in the early 2000s to hold donated funds and grants on behalf of the parks department and that the group shifted to an all-volunteer model several years ago. "We get about $5,000 in a grant every year from you, from the park department, and that's what seeds the rest of the operation for a year," he said.
On finances, Jamtas said the foundation brought in about $17,000 last year and contributed roughly $10,000 to park projects; he said the group's liquid accounts (cash, money market and a CD) total approximately $80,000. He also said the foundation holds deeds to two undeveloped parcels — one north of Cherry Hills Park and a larger undeveloped hillside parcel on the southeast side of Fernan Lake — and estimated the combined property value in the "hundreds of thousands" of dollars. In the transcript Jamtas stated several figures in succession; the presentation indicates about $26,000 in cash, roughly $50,000 in a money market and CD, with the properties' estimated values bringing the foundation's total held value into the mid-six-figure range.
The foundation's work has funded benches, tables, fountains and other donations at McEwen and other parks; Jamtas encouraged volunteers and noted that most foundation activity relies on the small annual grant and occasional community fundraising.
Commissioners thanked Jamtas and the foundation for supporting park dedications and for holding funds that can be deployed when the department identifies projects; no formal action followed the presentation.
