Kennedy T Friend Education Fund is located in Pittsburgh, PA. The organization was established in 1970. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education 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 12/2023, Kennedy T Friend Education Fund generated $920.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $492.2k during the year ending 12/2023. While expenses have increased by 2.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
ISSUED SCHOLARSHIPS TO YALE UNIVERSITY FOR VARIOUS STUDENTS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Alice B Mitinger ESQ Co-Trustee | 1 | $0 | |
Pnc Bank N A Co-Trustee | 18 | $89,557 | |
President Allegheny County Bar Assn Co-Trustee | 1 | $0 | |
President Yale Club Of Pittsburgh Co-Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Contributions, Gifts, Grants & Similar | $0 |
Interest on Savings | $0 |
Dividends & Interest | $236,663 |
Net Rental Income | $0 |
Net Gain on Sale of Assets | $683,482 |
Capital Gain Net Income | $683,482 |
Net ST Capital Gain | $0 |
Income Modifications | $0 |
Profit on Inventory Sales | $0 |
Other Income | $0 |
Total Revenue | $920,145 |
Statement of Expenses | |
---|---|
Compensation of officers, directors, trustees, etc | $89,557 |
Other employee salaries and wages | $0 |
Pension plans, employee benefits | $0 |
Interest | $0 |
Taxes | $17,222 |
Depreciation | $0 |
Occupancy | $0 |
Travel, conferences, and meetings | $0 |
Printing and publications | $0 |
Other expenses | $26,194 |
Total operating and administrative expenses | $138,033 |
Contributions, gifts, grants paid | $354,165 |
Total expenses and disbursements | $492,198 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | -$28 |
Savings and temporary cash investments | $443,141 |
Net Accounts receivable | $0 |
Net Pledges Receivable | $0 |
Grants receivable | $0 |
Receivables from Officers, Directors, or Controlling Persons | $0 |
Net other notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Investments - land, buildings, equipment | $0 |
Investments—mortgage loans | $0 |
Investments—other | $6,243,096 |
Net Land, buildings, and equipment | $0 |
Other assets | $0 |
Total assets | $9,344,592 |
Accounts payable and accrued expenses | $0 |
Grants payable | $0 |
Deferred revenue | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Mortgages and other notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $0 |
Over the last fiscal year, Kennedy T Friend Education Fund has awarded $354,165 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
YALE UNIVERSITY PURPOSE: SCHOLARSHIPS | $352,459 |
AIDEN MAGLEY PURPOSE: SCHOLARSHIP | $1,706 |