Kennedy T Friend Education Fund
- Assets
- $9.3m
- Revenue
- $920.1k
- Investments
- $8.9m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 12/1970
- Data as of
- 12/2023
- EIN
- 25-6026198
Organization Overview
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
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Board, Officers & Key Employees
| 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 |
Financial Statements
| 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 |
Grants Awarded
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 |