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Nonprofiteer
← KESWICK FOUNDATION INC

Form 990 for tax year 2023

Filed by KESWICK FOUNDATION INC.

Totals

Total revenue
$38,757,828
Total expenses
$17,378,908
Contributions and grants received
$7,496
Grants paid
$16,603,478
Program service revenue
$0
Investment income
$38,750,332
Other revenue
$0
Total assets, end of year
$248,026,228
Total liabilities, end of year
$1,202,734
Net assets or fund balances, end of year
$246,823,494
Program services expenses (Part IX)
$16,603,478
Management and general expenses
$775,430
Fundraising expenses
$0
Program service expenses (Part III)
$16,603,478

Program services were 95.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $7,496

  • 3 · Investment income

    total $4,636,835 · excluded $4,636,835

  • 7a · Gross sales of assets other than inventory

    securities $95,550,553

  • 7b · Less cost or other basis and sales expenses

    securities $61,437,056

  • 7c · Gain or loss

    securities $34,113,497

  • 7d · Net gain or loss

    total $34,113,497 · excluded $34,113,497

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,603,478 · program services $16,603,478

  • 11b · Fees: legal

    total $20,276 · management and general $20,276

  • 11c · Fees: accounting

    total $10,250 · management and general $10,250

  • 11f · Fees: investment management

    total $652,999 · management and general $652,999

  • 24a · Other expenses: OTHER EXPENSES

    total $70,569 · management and general $70,569

  • 24b · Other expenses: UBI TAX PAID

    total $21,336 · management and general $21,336

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $6,755,252 · end of year $25,322,152

  • 4 · Accounts receivable

    beginning of year $261,207 · end of year $561,022

  • 11 · Investments: publicly traded securities

    beginning of year $148,322,478 · end of year $137,883,533

  • 12 · Investments: other securities

    beginning of year $79,236,810 · end of year $84,259,521

  • 17 · Accounts payable and accrued expenses

    beginning of year $698,530 · end of year $179,856

  • 25 · Other liabilities

    beginning of year $859,088 · end of year $1,022,878

  • 27 · Net assets without donor restrictions

    beginning of year $189,384,011 · end of year $199,358,244

  • 28 · Net assets with donor restrictions

    beginning of year $43,634,118 · end of year $47,465,250

Mission and programs · 2023

Mission

TO PROVIDE FINANCIAL SUPPORT FOR KESWICK MULTI-CARE CENTER AND KESWICK COMMUNITY HEALTH FOR ACTIVITIES AND PROGRAMS THAT BENEFIT KESWICK MULTI-CARE CENTER, INC. AND KESWICK COUMMUNITY HEALTH, BY RECEIVING, INVESTING AND ADMINISTERING ENDOWMENT FUNDS AND OTHER ASSETS.

Activities or mission (Part I)

PROVIDES FINANCIAL SUPPORT TO KESWICK MULTI-CARE CENTER, INC. AND KESWICK COMMUNITY HEALTH, INC.

  • NURSING HOME CARE - KESWICK FOUNDATION MANAGES THE ASSETS OF KESWICK MULTI-CARE CENTER (KMC)AND SUPPORTS THE PROGRAMS AT KMC FOR THE BENEFIT OF ITS RESIDENTS.

    Expenses $15,144,099 · Grants $15,144,099

  • COMMUNITY HEALTH CENTER - KESWICK FOUNDATION PROVIDES FINANCIAL SUPPORT FOR THE DEVELOPMENT AND OPERATION OF VARIOUS PROGRAMS THAT ARE PROVIDED BY KESWICK COMMUNITY HEALTH TO ENHANCE THE HEALTH AND QUALITY OF THE LIVES OF OLDER ADULTS.

    Expenses $1,409,379 · Grants $1,409,379

  • SCHOLARSHIPS - THE DEERING SCHOLARSHIP FUND OF KESWICK FOUNDATION WAS DEVELOPED TO ENCOURAGE AND PROMOTE CAREER DEVELOPMENT IN THE FIELD OF AGING.

    Expenses $50,000 · Grants $50,000

As filed on the 2023 return.

Listed in Part VII

  • Matt M Rockstroh

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • John H West III

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Nancy J Floyd Prue

    SECRETARY / TREASURER

    Total calculated
    $0
    Hours/week
    2

  • David Meyer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Catherine J Boyne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • James R Seba

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Matthew Hemelt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michele Lagana

    CFO

    Total calculated
    $297,990
    From this org
    $0
    From related orgs
    $262,707
    Other
    $35,283
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $262,707 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $16,493 related
    Nontaxable benefits
    $0 + $18,790 related
    Filer's total
    $0 + $297,990 related

  • Aileen Tinney

    CEO

    Total calculated
    $371,719
    From this org
    $0
    From related orgs
    $324,433
    Other
    $47,286
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $324,433 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $38,458 related
    Nontaxable benefits
    $0 + $8,828 related
    Filer's total
    $0 + $371,719 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
OFFICERS OF KESWICK FOUNDATION ARE ALSO OFFICERS OF KESWICK MULTI-CARE CENTER (KMC). COMPENSATION REPORTED ON FORM 990 PART VII IS PAID BY KMC. THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF KMC REVIEW AND APPROVE THE COMPENSATION OF ALL OFFICERS. COMPARABLE DATA FROM AVAILABLE SOURCES, SUCH AS THE FORM 990 OF OTHER ORGANIZATIONS AND COMPENSATION STUDIES, ARE USED TO ASSESS THE APPROPRIATE COMPENSATION RANGES OF THESE POSITIONS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
6 May 2025
IRS schema version
2023v6.0
Source object
202521299349300847

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