Lt Joseph P Kennedy Institute
- Assets
- $1.8m
- Revenue
- $7.7m
- Investments
- $5.5k
- Employees
- 83
- Location
- Washington, DC
- Founding
- 03/1946
- Data as of
- 06/2023
- EIN
- 53-0258035
Organization Overview
Lt Joseph P Kennedy Institute is located in Washington, DC. The organization was established in 1946. According to its NTEE Classification (P82) the organization is classified as: Developmentally Disabled Centers, under the broad grouping of Human Services and related organizations. As of 06/2023, Lt Joseph P Kennedy Institute employed 83 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Lt Joseph P Kennedy Institute 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 06/2023, Lt Joseph P Kennedy Institute generated $7.7m 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 (6.8%) each year. All expenses for the organization totaled $7.6m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (8.6%) 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
KENNEDY INSTITUTE'S MISSION IS TO LEAD THROUGH INNOVATION SO PEOPLE WITH DISABILITIES LIVE WITH FREEDOM, DIGNITY, AND DISTINCTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED EDUCATION AND EARLY DEVELOPMENT SERVICES FOR CHILDREN WITH DEVELOPMENT DISABILITIES, AND OTHER SERVICES TO AND FOR PERSONS WITH DEVELOPMENT DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Dunne Chief Operating Officer | Officer | 2.7 | $0 |
Mary Jane Morrow Chief Financial Officer | Officer | 2.7 | $0 |
Elizabeth Gorman Chief Development Officer | Officer | 2.7 | $0 |
Jarlath Finn Executive Director - It | 3.6 | $0 | |
Michele Sparks Executive Director - Hr | 3.6 | $0 | |
Reginald Gregory Executive Director - Finance | 3.6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $2,043 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,371,524 |
| All other contributions, gifts, grants, and similar amounts not included above | $90,838 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,464,405 |
| Total Program Service Revenue | $178,232 |
| Investment income | $298 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $30,900 |
| 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 | $7,675,803 |
| 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 | $4,674,041 |
| Pension plan accruals and contributions | $364,508 |
| Other employee benefits | $518,195 |
| Payroll taxes | $343,856 |
| Fees for services: Management | $816 |
| Fees for services: Legal | $932 |
| Fees for services: Accounting | $23,876 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $360,040 |
| Advertising and promotion | $1,710 |
| Office expenses | $19,175 |
| Information technology | $44,041 |
| Royalties | $0 |
| Occupancy | $778,865 |
| Travel | $31,534 |
| 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 | $142,713 |
| Insurance | $23,013 |
| All other expenses | $0 |
| Total functional expenses | $7,649,681 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $62,471 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,164,996 |
| 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 | $14,022 |
| Net Land, buildings, and equipment | $590,910 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,516 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,837,915 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $1,002,195 |
| 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 | $18,302 |
| Total liabilities | $1,020,497 |
| Net assets without donor restrictions | $2,118,913 |
| Net assets with donor restrictions | -$1,301,495 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,837,915 |