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Nonprofiteer
← JOHN G KENEDY JR CHARITABLE TRUST

Form 990 for tax year 2023

Filed by JOHN G KENEDY JR CHARITABLE TRUST.

Totals

Total revenue
$10,688,986
Total expenses
$9,540,869
Contributions and grants received
$0
Grants paid
$7,934,752
Program service revenue
$0
Investment income
$7,897,914
Other revenue
$2,791,072
Total assets, end of year
$159,560,755
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$159,560,755
Program services expenses (Part IX)
$8,629,177
Management and general expenses
$911,692
Fundraising expenses
$0
Program service expenses (Part III)
$8,629,177

Program services were 90.4% 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.

  • 3 · Investment income

    total $3,818,870 · excluded $3,818,870

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $2,791,072 · excluded $2,791,072

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $25,860,243

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

    securities $21,781,200

  • 7c · Gain or loss

    securities $4,079,043

  • 7d · Net gain or loss

    total $4,079,044 · excluded $4,079,044

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,934,752 · program services $7,934,752

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $670,936 · program services $670,936 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $46,978 · program services $23,489 · management and general $23,489 · fundraising $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $208,378 · program services $0 · management and general $208,378 · fundraising $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $142,322 · program services $0 · management and general $142,322 · fundraising $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: PRODUCTION TAXES

    total $375,475 · management and general $375,475

  • 24b · Other expenses: AD VALOREM TAXES

    total $144,119 · management and general $144,119

  • 24c · Other expenses: RENTAL EXPENSES

    total $381 · management and general $381

  • 24d · Other expenses: REAL ESTATE FEES

    total $100 · management and general $100

  • 24e · All other expenses

    total $17,428 · management and general $17,428

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $8,360,607 · end of year $7,569,664

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $600

  • 10c · Land, buildings and equipment, net

    beginning of year $600 · end of year $600

  • 11 · Investments: publicly traded securities

    beginning of year $131,225,660 · end of year $128,135,615

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $18,825,771 · end of year $23,854,876

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $158,412,638 · end of year $159,560,755

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

UNDER ITEM 16, SECTION 2 OF THE WILL OF ELENA S. KENEDY, THE TRUST WAS CREATED TO BENEFIT THE CATHOLIC DIOCESE OF CORPUS CHRISTI, CONVENT ACADEMY OF THE INCARNATE WORD, SPOHN HOSPITAL, OUR LADY OF THE LAKE UNIVERSITY, AND PAX CHRISTI INSTITUTE. THE PURPOSES INCLUDE RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY OR EDUCATIONAL WITHIN SECTION 501(C)(3).

Activities or mission (Part I)

THIS TRUST WAS CREATED TO SUPPORT THE FIVE ORGANIZATIONS MENTIONED IN THE WILL OF ELENA S. KENEDY. SEE SCHEDULE O, PAGE 2 FOR FURTHER DETAIL.

  • SUPPORT OF CHARITABLE ORGANIZATIONS NAMED IN THE ORGANIZING DOCUMENTS

    Expenses $8,629,177 · Grants $7,934,753

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • FROST BANK CO-TRUSTEE

    SHARON SHIRLEY, ADMINISTRATOR

    Total calculated
    $879,314
    From this org
    $879,314
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

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
4 March 2025
IRS schema version
2023v6.0
Source object
202500649349300245

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