Knickerbocker Properties INC Xv: FY2021 Nonprofit Profile & Form 990 (EIN 04-3255688)

Revenue by fiscal year
FY2020	$1.7M
FY2021	$27.3M
FY2022	−$44K
FY2023	$3K

Expenses by fiscal year
FY2020	$0
FY2021	$0
FY2022	$0
FY2023	Not on file

Net assets by fiscal year
FY2020	$43.1M
FY2021	$129K
FY2022	$38K
FY2023	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

22 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Thomas K Lee

Director

$0Pt VII · Sec A

Joseph Indelicato JR

Director

$0Pt VII · Sec A

David C Gillan

Director

$0Pt VII · Sec A

Michael Kirby

President

$0Pt VII · Sec A

Jason W Geer

Vice President

$0Pt VII · Sec A

Lee Phegley

Vice President

$0Pt VII · Sec A

Cain Kirk

Vice President

$0Pt VII · Sec A

Duncan Walker

Vice President

$0Pt VII · Sec A

See Knickerbocker Properties INC Xv executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Holds title to properties for the benefit of a New York State teachers' retirement system pension.

Provided by the organization

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By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$27.3M

Ln 12

Investment incomeLn 3$25.4M

Other incomeLn 4–11$1.9M

Money outPt IX

$0

Ln 25

Owns and owesPt X

$129K

net assets · Ln 32

Cash and savingsLn 1–2$105K

Total assetsLn 16$160K

LiabilitiesLn 26$31K

PeoplePt VI, VII

22

listed · VII A

PaidVII A0

Voting boardVI 1a3

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$25.4M

Other incomeLn 4–11$1.9M

Gains on assetsLn 7$25.4M

Total revenueLn 12$27.3M

Assets in detailPt X, end of year

CashLn 1$105K

Cash and savings togetherLn 1–2$105K

Total assetsLn 16$160K

LiabilitiesLn 26$31K

Net assetsLn 32$129K

OperationsPt I, VI

EmployeesI 50

VolunteersI 63

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$133K	$105K
Total assetsLn 16	$44.3M	$160K
LiabilitiesLn 26	$1.2M	$31K
Net assetsLn 32	$43.1M	$129K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Total functional expensesLn 25	$0	$0	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2023 Latest	$3K			$0	990 PDF
FY2022	−$44K	$0	−$44K	$38K	990 PDF
FY2021 Viewing	$27.3M	$0	$27.3M	$129K	990 PDF
FY2020	$1.7M	$0	$1.7M	$43.1M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2021 990 (6 parts)

Part I · Summary $27,274,865 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $0$25,357,244

I-11 Other revenuePrior year $1,659,005$1,917,621

I-12 Total revenuePrior year $1,659,005$27,274,865

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $0$0

I-18 Total expensesPrior year $0$0

I-19 Revenue less expensesPrior year $1,659,005$27,274,865

Part VI · Governance 0 of 3 board members independent, 3 to look at

VI-1a Voting members of the governing body3

VI-1b Independent voting members0

VI-2 Family or business relationship among officers or directorsYes

VI-13 Written whistleblower policyNo

VI-15a Process for setting top official's payNo

VI-12a Written conflict of interest policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $27,274,865 across 3 lines filed

VIII-6 Net rental income or lossRelated to mission $1,917,621$1,917,621

VIII-7 Net gain or loss on sales of assetsExcluded from tax $25,357,244$25,357,244

VIII-12 Total revenueRelated to mission $1,917,621 · Unrelated business $0 · Excluded from tax $25,357,244$27,274,865

Part IX · Statement of functional expenses $0 across 0 lines filed

IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$0

Part X · Balance sheet $159,750 assets, 7 lines filed

X-1 Cash, non-interest-bearingStart of year $132,658$104,591

X-4 Accounts receivableStart of year $18,774$55,159

X-16 Total assetsStart of year $44,292,602$159,750

X-17 Accounts payable and accrued expensesStart of year $1,030,603$31,098

X-26 Total liabilitiesStart of year $1,237,320$31,098

X-32 Total net assets or fund balancesStart of year $43,055,282$128,652

X-33 Total liabilities and net assetsStart of year $44,292,602$159,750

Part XI · Reconciliation of net assets $128,652 net assets at year end

XI-1 Total revenue$27,274,865

XI-2 Total expenses$0

XI-3 Revenue less expenses$27,274,865

XI-4 Net assets at start of year$43,055,282

XI-5 Net unrealized gains (losses) on investments−$10,699,466

XI-9 Other changes in net assets−$59,502,029

XI-10 Net assets at end of year$128,652

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Knickerbocker Properties INC Xv FY2021 filing

Before you give

Is it real?

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

By the numbers

Filing history

Schedules filed Part IV