Kennedy Property Corp
- Assets
- $15.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 02/1983
- Data as of
- 06/2021
- EIN
- 22-2442034
Organization Overview
Kennedy Property Corp is located in Philadelphia, PA. The organization was established in 1983. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kennedy Property Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Kennedy Property Corp generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (16.0%) each year. All expenses for the organization totaled $1.6m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION PROVIDES REAL ESTATE AND PROPERTY MANAGEMENT SERVICES TO VARIOUS JEFFERSON HEALTH NEW JERSEY AFFILIATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED IN PROVIDING REAL ESTATE AND PROPERTY MANAGEMENT SERVICES TO JEFFERSON HEALTH NEW JERSEY AFFILIATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel J Dalton Vice Chairman - Trustee | OfficerTrustee | 5 | $0 |
John P Silvestri Chairman - Trustee | OfficerTrustee | 5 | $0 |
Alexander D Sharnoff ESQ Secretary | Officer | 55 | $0 |
James Huynh VP Facilities Management | Officer | 55 | $0 |
Bruce J Paparone Trustee | Trustee | 5 | $0 |
William Barker Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hutchinson Plumbing Heating Cooling Maintenance | 12/30/17 | $117,383 |
Grace Construction Management Construction | 12/30/17 | $249,358 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,839,230 |
| Investment income | $529 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $43,399 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,883,158 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,753 |
| Fees for services: Other | $13,724 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $454,792 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $99,519 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $680,340 |
| Insurance | $56,890 |
| All other expenses | $0 |
| Total functional expenses | $1,629,985 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $427,088 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $45,612 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,155 |
| Net Land, buildings, and equipment | $15,106,810 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,602,665 |
| Accounts payable and accrued expenses | $219,630 |
| Grants payable | $0 |
| Deferred revenue | $27,310 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,510,323 |
| Total liabilities | $1,757,263 |
| Net assets without donor restrictions | $13,845,402 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,602,665 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Kennedy Property Corp has recieved totaling $406,920.
| Awarding Organization | Amount |
|---|---|
Kennedy University Hospital Inc Philadelphia, PA PURPOSE: related party assistance | $406,920 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Project Social Care Head Start Brooklyn, NY | $6,318,610 | $20,235,501 |
Race Forward New York, NY | $41,775,681 | $35,206,795 |
Doris Duke Management Foundation New York, NY | $16,535,132 | $14,155,611 |
Friends Retirement Concepts Inc East Brunswick, NJ | $1,909,950 | $77,429,648 |
St Barnabas Health System Inc Gibsonia, PA | $11,393,428 | $11,432,241 |
Jasa Corporation New York, NY | $81,684,696 | $37,717,694 |
Repair The World Inc New York, NY | $12,187,078 | $15,959,640 |
Public Children Services Assoc Of Ohio Inc Columbus, OH | $3,698,472 | $8,310,816 |
Ohio Association Of Community Health Center Inc Columbus, OH | $5,988,044 | $6,768,284 |
Arts Business Collaborative Inc Long Island City, NY | $8,659,572 | $7,475,051 |
Southwestern Pennsylvania Human Services Inc Charleroi, PA | $7,239,784 | $6,185,914 |
Worksource Montgomery Inc Rockville, MD | $5,927,407 | $5,113,270 |