Kennett Collaborative Inc
- Assets
- $452.9k
- Revenue
- $291.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Kennett Square, PA
- Founding
- 02/1987
- Data as of
- 12/2021
- EIN
- 23-2408629
Organization Overview
Kennett Collaborative Inc, operating under the name Historic Kennett Square, is located in Kennett Square, PA. The organization was established in 1987. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Historic Kennett Square employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Historic Kennett Square 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 12/2021, Historic Kennett Square generated $291.6k 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 (3.5%) each year. All expenses for the organization totaled $276.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Historic Kennett Square has awarded 19 individual grants totaling $130,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE, ENCOURAGE AND ENHANCE THE ECONOMIC, COMMUNITY AND SOCIAL VITALITY OF THE KENNETT AREA FOR THE BENEFIT OF ITS RESIDENTS, BUSINESSES AND VISITORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY ENRICHMENT PROGRAM: VARIOUS COMMUNITY EVENTS TO CREATE POSITIVE ENVIRONMENT AND PROMOTE ECONOMIC STABILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Geoffrey Bosley Treasurer | OfficerTrustee | 10 | $0 |
Patricia Evans Director | Trustee | 1 | $0 |
Mary Kay Gaver Chair | OfficerTrustee | 10 | $0 |
Arturo Gomez-Rubio Director | Trustee | 1 | $0 |
Laura Judd Director | Trustee | 1 | $0 |
Lorenzo Merino Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $218,985 |
| Investment income | $73 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,425 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $62,068 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $291,551 |
| Statement of Expenses | |
|---|---|
| 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. | $86,090 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $105,545 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,339 |
| Payroll taxes | $14,970 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,741 |
| Advertising and promotion | $10,233 |
| Office expenses | $2,402 |
| Information technology | $4,947 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $39 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $633 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,623 |
| Insurance | $2,267 |
| All other expenses | $0 |
| Total functional expenses | $276,443 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99,735 |
| Savings and temporary cash investments | $1,181 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,225 |
| 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 | $1,274 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,718 |
| Other assets | $0 |
| Total assets | $452,937 |
| Accounts payable and accrued expenses | $6,031 |
| Grants payable | $0 |
| Deferred revenue | $39,898 |
| 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 | $104,157 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,022 |
| Total liabilities | $156,108 |
| Net assets without donor restrictions | $296,829 |
| 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 |
| Total liabilities and net assets/fund balances | $296,829 |
Grants Awarded
Over the last fiscal year, Kennett Collaborative Inc has awarded $130,500 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
MICHOACANA GRILL PURPOSE: SM BUSINESS RELIEF | $9,000 |
CHEF BRETT'S LLC PURPOSE: SM BUSINESS RELIEF | $8,000 |
BRAELOCH BREWING PURPOSE: SM BUSINESS RELIEF | $9,000 |
LA PENA MEXICANA PURPOSE: SM BUSINESS RELIEF | $9,000 |
MARY PAT'S TJC FOODS PURPOSE: SM BUSINESS RELIEF | $8,000 |
FRAGALE BROTHER'S BARBER SHOP PURPOSE: SM BUSINESS RELIEF | $7,000 |