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Nonprofiteer
← 507 KENT ST CORPORATION

Form 990 for tax year 2025

Filed by 507 KENT ST CORPORATION.

Totals

Total revenue
$67,706
Total expenses
$129,124
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,000
Investment income
$62,706
Other revenue
$0
Total assets, end of year
$23,624,220
Total liabilities, end of year
$23,685,638
Net assets or fund balances, end of year
-$61,418
Program services expenses (Part IX)
$0
Management and general expenses
$129,124
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $5,000 · related or exempt $5,000

  • 3 · Investment income

    total $62,706 · excluded $62,706

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $44,583 · management and general $44,583

  • 11c · Fees: accounting

    total $2,879 · management and general $2,879

  • 11f · Fees: investment management

    total $114 · management and general $114

  • 20 · Interest

    total $81,548 · management and general $81,548

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $42

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

    $16,193,269

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $16,193,269

  • 15 · Other assets

    beginning of year $0 · end of year $7,430,909

  • 23 · Secured mortgages and notes payable

    end of year $22,920,429

  • 25 · Other liabilities

    beginning of year $0 · end of year $765,209

  • 27 · Net assets without donor restrictions

    end of year -$61,418

Mission and programs · 2025

Mission

THE ORGANIZATION'S PRIMARY MISSION IS, FOR THE BENEFIT OF CENTRAL ASSOCIATION FOR THE BLIND, INC. (CAVBI) TO FACILITATE FINANCING, REHABILITATION AND SUPPORT OF FACILITIES NEEDED OR FOR THE PROVISION OF COMMUNITY FACILITIES IN SUPPORT OF CABVI CHARITABLE PURPOSES, WHICH INCLUDES FACILITIES LOCATED IN UTICA AND SYRACUSE.

Activities or mission (Part I)

TO SUPPORT THE CHARITABLE PURPOSES OF CENTRAL ASSOCIATION FOR THE BLIND, INC.

  • FOR THE BENEFIT OF CENTRAL ASSOCIATION FOR THE BLIND, INC. (CAVBI) TO FACILITATE FINANCING, REHABILITATION AND SUPPORT OF FACILITIES NEEDED OR FOR THE PROVISION OF COMMUNITY FACILITIES IN SUPPORT OF CABVI CHARITABLE PURPOSES, WHICH INCLUDES FACILITIES LOCATED IN UTICA AND SYRACUSE.

    Revenue $5,000

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard Dewar

    2ND VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related
  • Ralph Eannace

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related
  • Kevin Conway

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2
  • Paul Drejza

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Amy Lindner

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Edward P Welsh

    PRESIDENT/CEO

    Total calculated
    $284,140
    From this org
    $0
    From related orgs
    $278,587
    Other
    $5,553
    Hours/week
    2 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $240,198 related
    Bonus
    $0 + $35,887 related
    Other
    $0 + $2,502 related
    Deferred
    $0 + $5,553 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $284,140 related
  • Jill Koch

    CFO

    Total calculated
    $208,608
    From this org
    $0
    From related orgs
    $172,321
    Other
    $36,287
    Hours/week
    2 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $158,007 related
    Bonus
    $0 + $13,357 related
    Other
    $0 + $957 related
    Deferred
    $0 + $3,579 related
    Nontaxable benefits
    $0 + $32,708 related
    Filer's total
    $0 + $208,608 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

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

No itemized grants to organizations 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
2025
Filed
10 September 2026
IRS schema version
2025v4.2
Source object
202602609349300810

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