Keystone-Texas Property Holding Corp C/o L&b Realty Advisors Llp

Nonprofit profile at a glance

EIN
752477137
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Dallas, TX, USA
Phone
2149890800
Rating
43
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$1,726,089
Expenses
$108,192
Assets
$30,203,659
Liabilities
$47,746

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

Leadership & pay

6 people listed

Executive titles in this filing

  • DANIEL L PLUMLEE (PRESIDENT & SECRETARY)
  • JENNIFER A HANSON (VICE PRESIDENT & TREASURER)
  • TERRENCE E MCCOY (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). Total distributions to its shareholder in 2024 were $1,530,000.

Operating model

Revenue model
Earned-program. 100% 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 - Revenue comfortably covers expenses and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 37
  • Transparency & Controls: 56
  • Accountability: 18
  • Sustainability: 85
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 6.3%; rating input score 6
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th 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; 5th percentile among comparable filings
  • Governance controls: 3 of 8 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: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 93.7%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 279.17; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 39.5% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: 19.9% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 6.3% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 3 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $108K in reported program spending
  • Leadership: top reported pay $488K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2020 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 — Financial Efficiency: Mission deployment rate scored 6/100.
  • 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: Asset growth scored 0/100.