Keystone Florida Property Holding Corp
- Assets
- $123.8m
- Revenue
- $15.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Harrisburg, PA
- Founding
- 07/1994
- Data as of
- 12/2022
- 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 12/2022, Keystone Florida Property Holding Corp generated $15.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $14.5m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 8 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
2022
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 |
Robert J Devine Director, Eff. 4/11/22 | Trustee | 1 | $0 |
James H Grossman Jr Director, Thru 4/11/22 | Trustee | 1 | $0 |
William P Stalter Director, Eff. 4/11/22 | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jones Lang Lasalle Management Fees | 12/30/22 | $2,388,338 |
Kimco Facility Services Llc Cleaning Services | 12/30/22 | $867,754 |
Dwell Design Studio Llc Architect Services | 12/30/22 | $1,235,758 |
Allied Universal Security Services Security Services | 12/30/22 | $835,137 |
Stephanie J Toothaker Esq Pa Retail Development Consulting Services | 12/30/22 | $416,500 |
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 | $15,745,746 |
| Investment income | $64,332 |
| 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 | $15,946,796 |
| 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 | $442,358 |
| Fees for services: Legal | $40,430 |
| Fees for services: Accounting | $57,837 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $900,000 |
| Fees for services: Other | $2,121,907 |
| Advertising and promotion | $577,675 |
| Office expenses | $1,272,394 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,846,643 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $239,902 |
| All other expenses | $1,952,813 |
| Total functional expenses | $14,451,959 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $13,402,138 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,286,177 |
| 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 | $750,163 |
| Net Land, buildings, and equipment | $108,300,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,838 |
| Total assets | $123,794,516 |
| Accounts payable and accrued expenses | $670,260 |
| Grants payable | $0 |
| Deferred revenue | $726,104 |
| 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 | $377,145 |
| Total liabilities | $1,773,509 |
| 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 | $119,132,225 |
| Total liabilities and net assets/fund balances | $123,794,516 |