Charles K King No 3 Trust
- Assets
- $62.3m
- Revenue
- $8.2m
- Investments
- $45.8m
- Employees
- 0
- Location
- Brooklyn, OH
- Founding
- 02/1973
- Data as of
- 12/2023
- EIN
- 34-6506846
Organization Overview
Charles K King No 3 Trust is located in Brooklyn, OH. The organization was established in 1973. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charles K King No 3 Trust 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 12/2023, Charles K King No 3 Trust generated $8.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.2% each year . All expenses for the organization totaled $3.2m during the year ending 12/2023. While expenses have increased by 11.2% 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
KINGWOOD CENTER GARDENS DEVELOPS AND DISPLAYS EXEMPLARY GARDENS ON THE FORMER ESTATE OF CHARLES KELLEY KING FOR THE PLEASURE AND EDUCATION OF THE PUBLIC. AUXILLIARY ACTIVITIES AND PROGRAMS ARE OFFERED TO SUPPORT AND TO ACCENTUATE THE ENJOYMENT AND UNDERSTANDING OF THE GARDENS AND HORTICULTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Key Bank National Assoc Trustee | 5 | $83,906 | |
John C Fernyak Vice Chairman | 5 | $33,410 | |
David Carto Chairman | 5 | $33,410 | |
Bruce Cummins Board Member | 1 | $500 | |
Justin Marotta Board Member | 1 | $500 | |
Jana Mulherin Board Member | 1 | $500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Studer-obringer | 12/30/22 | $639,645 |
Gmc Excavation & Trucking Ltd | 12/30/22 | $105,471 |
Oakland Nursery | 12/30/22 | $88,966 |
Buehlers Fresh Food | 12/30/22 | $69,241 |
Advantage Marketing | 12/30/22 | $149,542 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $271,297 |
| Interest on Savings | $20,254 |
| Dividends & Interest | $1,588,291 |
| Net Rental Income | $150,705 |
| Net Gain on Sale of Assets | $5,274,957 |
| Capital Gain Net Income | $5,274,957 |
| Net ST Capital Gain | $107,236 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $154,869 |
| Other Income | $781,762 |
| Total Revenue | $8,242,135 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $253,544 |
| Other employee salaries and wages | $1,462,719 |
| Pension plans, employee benefits | $155,261 |
| Interest | $0 |
| Taxes | $128,257 |
| Depreciation | $285,050 |
| Occupancy | $239,963 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $11,623 |
| Other expenses | $554,119 |
| Total operating and administrative expenses | $3,204,519 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $3,204,519 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $305,228 |
| Savings and temporary cash investments | $4,986,169 |
| Net Accounts receivable | $1,548 |
| Net Pledges Receivable | $8,000 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $73,900 |
| Prepaid expenses and deferred charges | $6,953 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $19,062,487 |
| Net Land, buildings, and equipment | $11,146,854 |
| Other assets | $5,450 |
| Total assets | $62,346,104 |
| Accounts payable and accrued expenses | $94,350 |
| 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 | $94,350 |