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Nonprofiteer
← THE LANDMARKS FINANCIAL CORPORATION

Form 990 for tax year 2023

Filed by THE LANDMARKS FINANCIAL CORPORATION.

Totals

Total revenue
$3,004,579
Total expenses
$2,858,262
Contributions and grants received
$0
Grants paid
$2,674,811
Program service revenue
$0
Investment income
$3,004,579
Other revenue
$0
Total assets, end of year
$152,645,114
Total liabilities, end of year
$233,080
Net assets or fund balances, end of year
$152,412,034
Program services expenses (Part IX)
$2,824,883
Management and general expenses
$33,379
Fundraising expenses
$0
Program service expenses (Part III)
$2,824,883

Program services were 98.8% 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 $4,668,871 · excluded $4,668,871

  • 7a · Gross sales of assets other than inventory

    securities $8,791,590

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

    securities $10,455,882

  • 7c · Gain or loss

    securities -$1,664,292

  • 7d · Net gain or loss

    total -$1,664,292 · excluded -$1,664,292

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,674,811 · program services $2,674,811

  • 11c · Fees: accounting

    total $9,620 · management and general $9,620

  • 11f · Fees: investment management

    total $150,072 · program services $150,072

  • 19 · Conferences, conventions and meetings

    total $1,606 · management and general $1,606

  • 23 · Insurance

    total $21,333 · management and general $21,333

  • 24a · Other expenses: BANKING FEES

    total $820 · management and general $820

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $316,105 · end of year $283,350

  • 4 · Accounts receivable

    end of year $9,067

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,704 · end of year $13,888

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

    $20,000

  • 10c · Land, buildings and equipment, net

    beginning of year $20,000 · end of year $20,000

  • 11 · Investments: publicly traded securities

    beginning of year $128,593,132 · end of year $144,846,119

  • 12 · Investments: other securities

    beginning of year $8,022,909 · end of year $7,472,190

  • 15 · Other assets

    beginning of year $500 · end of year $500

  • 17 · Accounts payable and accrued expenses

    beginning of year $266,416 · end of year $227,173

  • 25 · Other liabilities

    beginning of year $0 · end of year $5,907

  • 27 · Net assets without donor restrictions

    beginning of year $132,275,888 · end of year $147,422,351

  • 28 · Net assets with donor restrictions

    beginning of year $4,427,046 · end of year $4,989,683

Mission and programs · 2023

Mission

TO HOLD, MANAGE, INVEST, AND DISTRIBUTE FUNDS IN WAYS WHICH PROMOTE & SUPPORT OR WHICH ARE IN FUTHERANCE OF THE INTERESTS AND PURPOSES OF PITTSBURGH HISTORY & LANDMARKS FOUNDATION & OTHER ORGANIZATIONS WHICH (A) QUALIFY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, (B) ARE SECTION 509(A)(1) OR 509(A)(2) ORGANIZATIONS, AND (C) ARE OPERATED IN CONNECTION WITH PITTSBURGH HISTORY & LANDMARKS FOUNDATION.

Activities or mission (Part I)

TO HOLD, MANAGE, INVEST, AND DISTRIBUTE FUNDS IN WAYS WHICH PROMOTE AND SUPPORT, OR WHICH ARE IN FUTHERANCE OF THE INTERESTS AND PURPOSES OF PITTSBURGH HISTORY & LANDMARKS FOUNDATION AND OTHER ORGANIZATIONS WHICH (A) QUALIFY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, (B) ARE SECTION 509(A)(1) OR 509(A)(2) ORGANIZATIONS, AND (C) ARE OPERATED IN CONNECTION WITH PITTSBURGH HISTORY & LANDMARKS FOUNDATION.

  • INVESTMENT MANAGEMENT AND SUPPORT FOR PITTSBURGH HISTORY & LANDMARKS FOUNDATION AND OTHER RELATED ORGANIZATIONS.

    Expenses $2,824,883 · Grants $2,674,811

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

Listed in Part VII

  • William Hart

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Jana Lyons

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Elise Roby Yanders

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Gorman

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.15

  • Curtis C Randle El

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Adam Embry

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.15

  • Ben Garber

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Phipps Hoffstot III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Kevin Jenkins

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Rajeev Nath

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.15

  • Corbin P Miller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Kevin O'Donnell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Emory L Redd

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Steven Sekelik

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Dana Stroucken

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2

  • Andrew Wozniak

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Arthur P Ziegler Jr

    CO-FOUNDER

    Total calculated
    $353,099
    From this org
    $0
    From related orgs
    $325,031
    Other
    $28,068
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $325,031 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $15,078 related
    Nontaxable benefits
    $0 + $12,990 related
    Filer's total
    $0 + $353,099 related

  • Michael Sriprasert

    PRESIDENT

    Total calculated
    $317,942
    From this org
    $0
    From related orgs
    $296,700
    Other
    $21,242
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $288,200 related
    Bonus
    $0 + $8,500 related
    Other
    $0
    Deferred
    $0 + $13,890 related
    Nontaxable benefits
    $0 + $7,352 related
    Filer's total
    $0 + $317,942 related

  • Andrew Marks

    CONTROLLER

    Total calculated
    $129,222
    From this org
    $0
    From related orgs
    $101,026
    Other
    $28,196
    Hours/week
    10 + 30 related

  • Donald Kortlandt

    GENERAL COUNSEL

    Total calculated
    $249,286
    From this org
    $0
    From related orgs
    $212,477
    Other
    $36,809
    Hours/week
    3 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $212,477 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,245 related
    Nontaxable benefits
    $0 + $26,564 related
    Filer's total
    $0 + $249,286 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

  • 2 · Substantiation required before reimbursing expenses

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CRESCENT APARTMENTS LLC

    REAL ESTATE DEVELOPER · PA · income -$274,622 · assets $6,646,680

    Directly controlled by LANDMARKS DEVELOPMENT CORPORATION

  • FALCONHURST GP LLC

    REAL ESTATE DEVELOPER · PA · income -$35 · assets -$299

    Directly controlled by LANDMARKS DEVELOPMENT CORPORATION

  • MARKET AT FIFTH LLC

    HISTORIC PROPERTY RESTORATION · PA · income -$145,782 · assets $3,042,503

    Directly controlled by LANDMARKS DEVELOPMENT CORPORATION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • FALCONHURST RESTORATION LP

    INVESTMENT · REAL ESTATE DEVELOPER · PA · 0.01% owned · share of income -$35 · share of assets -$299 · general or managing partner

    Directly controlled by THE LANDMARKS DEVELOPMENT CORPORATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • THE LANDMARKS DEVELOPMENT CORPORATION

    C · REAL ESTATE MANAGEMENT AND DEVELOPER · PA · 100% owned · share of income -$1,479,922 · share of assets $7,966,262 · controlled entity

    Directly controlled by THE LANDMARKS FINANCIAL CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
19 August 2024
IRS schema version
2023v5.1
Source object
202422329349301257

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