Keystone Florida Property Holding Corp
- Assets
- $157.2m
- Revenue
- $17.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Harrisburg, PA
- Founding
- 07/1994
- Data as of
- 12/2021
- EIN
- 36-3922504
Organization Overview
Keystone Florida Property Holding Corp is located in Harrisburg, PA. The organization was established in 1994. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, 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.
For the year ending 12/2021, Keystone Florida Property Holding Corp generated $17.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $13.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.2%) per year over the past 7 years. 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 COMPANY SERVES AS A TITLE HOLDING COMPANY FOR THE BENEFIT OF THE COMMONWEALTH OF PENNSYLVANIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM, A TAX EXEMPT PENSION FUND WHICH MEETS THE REQUIREMENTS OF SEC 401(A).
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMPANY SERVES AS A TITLE HOLDING COMPANY FOR THE BENEFIT OF THE COMMONWEALTH OF PENNSYLVANIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM, A TAX EXEMPT PENSION FUND WHICH MEETS THE REQUIREMENTS OF SEC 401(A).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Q Oconnor President | OfficerTrustee | 1 | $0 |
Joel L Bayer Vice President | OfficerTrustee | 1 | $0 |
Ojas Desai Secretary & Treasurer | OfficerTrustee | 1 | $0 |
Charles J Spiller Director | Trustee | 1 | $0 |
James H Grossman Jr Director | Trustee | 1 | $0 |
Melissa A Quackenbush Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Allied Universal Security Services Security Services | 12/30/21 | $858,131 |
O'connor Real Estate Advisors Llc Advisory And Asset Management Fees | 12/30/21 | $900,000 |
Dwell Design Studio Llc Architectural Services | 12/30/21 | $325,739 |
Jones Lang Lasalle Management Fees, Payroll, Expense Reimbu | 12/30/21 | $2,232,839 |
Kimco Facility Services Llc Commercial Cleaning Services | 12/30/21 | $597,889 |
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 | $17,094,647 |
| Investment income | $9,068 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $17,315,641 |
| 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 | $453,411 |
| 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 | $900,000 |
| Fees for services: Other | $0 |
| Advertising and promotion | $556,185 |
| Office expenses | $966,309 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,433,045 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $493,632 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,770,450 |
| All other expenses | $0 |
| Total functional expenses | $13,573,032 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $13,938,512 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,218,633 |
| 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 | $1,313,661 |
| Net Land, buildings, and equipment | $140,700,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,875 |
| Total assets | $157,175,881 |
| Accounts payable and accrued expenses | $1,330,133 |
| Grants payable | $0 |
| Deferred revenue | $900,753 |
| 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 | $223,029 |
| Total liabilities | $2,453,915 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,000 |
| Paid-in or capital surplus, or land, building, or equipment fund | $2,887,782 |
| Retained earnings, endowment, accumulated income, or other funds | $151,833,184 |
| Total liabilities and net assets/fund balances | $157,175,881 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Strs Ohio Tx Real Estate Investments Inc Columbus, OH | $220,303,180 | $20,609,768 |
Keystone Florida Property Holding Corp Harrisburg, PA | $157,175,881 | $17,315,641 |
156 West 106th Street Holding Corp New York, NY | $627,698 | $10,000,000 |
University At Albany Bioscience Development Corporation Albany, NY | $44,515,468 | $7,817,426 |
Tgm Realty Corp 20 New York, NY | $499,485,449 | $22,200,197 |
Bit Holdings Three Inc Baltimore, MD | $969,623,957 | $40,242,400 |
Vertex Non Profit Holdings Inc Fairmont, WV | $32,441,063 | $3,635,457 |
Columbus Association Of Realtors Columbus, OH | $9,934,028 | $6,554,174 |
Realty Advisory Board On Labor Relations Incorporated New York, NY | $24,561,185 | $8,236,641 |
Dhu Realty Corp New York, NY | $1,097,719 | $3,124,620 |
Carmel Mountain Apartments Inc Princeton, NJ | $126,463,068 | $7,869,627 |
Holy Spirit Corporation Hershey, PA | $30,669,518 | $4,832,377 |