Keystone-Florida Property Holding Corp

Nonprofit profile at a glance

EIN
363922504
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Harrisburg, PA, USA
Phone
6102656400
Rating
53
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$16,742,307
Expenses
$15,139,036
Assets
$128,898,050
Liabilities
$1,735,041

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • WILLIAM Q O'CONNOR (PRESIDENT)
  • JOEL L BAYER (VICE PRESIDENT)

Highest reported compensation

  • BENJAMIN L COTTON (DIRECTOR): $488,483 total reported compensation
  • THOMAS A BAUER (DIRECTOR): $422,304 total reported compensation
  • MELISSA A QUACKENBUSH (DIRECTOR): $248,728 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Acquire real property and remit net income to tax-exempt shareholder of this organization.

What it reported doing in 2024

The organization operated rental real estate property for its tax-exempt shareholder, the commonwealth of Pennsylvania public school employees' retirement system (EIN: 23-1739115).

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 60
  • Accountability: 18
  • Sustainability: 68
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.7%; rating input score 76
  • Program expense ratio: 84.6%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.6%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 8.51; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -0.8% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: -3% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -1% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 75.7% of revenue deployed · 84.6% of spending went to programs
  • Governance: 0 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $12.8M in reported program spending
  • Leadership: top reported pay $488K · 6 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $5.5M reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.