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Keswick Foundation INC

Tax-deductible

Baltimore, MD501(c)(3)Since 1976Health CareEIN 52-1066144Revenue $16.3M in FY2025

On file with the IRS700 W 40th St, 21211-2104 · Baltimore, MDTax-exempt since Jul 1976Supporting organization — 509(a)(3)

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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.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $2.7M a year · 16% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 12.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $3K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
0.5% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$16.3M
-58% vs prior year
Spent
$22.6M
To programs
96%
Net assets
$246.9M
By yearFY2020–FY2025
Revenue
$16.3M
FY2025▼ -58%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.1M
FY2021$14.8M
FY2022$18.7M
FY2023$8.7M
FY2024$38.8M
FY2025$16.3M
Expenses
$22.6M
FY2025▲ +30%
Tap a bar for its year
Expenses by fiscal year
FY2020$7.8M
FY2021$10.4M
FY2022$14.9M
FY2023$13.3M
FY2024$17.4M
FY2025$22.6M
Net assets
$246.9M
FY2025+0.04%
Tap a bar for its year
Net assets by fiscal year
FY2020$211.2M
FY2021$262.0M
FY2022$226.0M
FY2023$233.0M
FY2024$246.8M
FY2025$246.9M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1976.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $21.8M Management & general 4% · $799K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Victoria Hitchcock
Secretary / Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
David Meyer
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
James R Seba
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Eric Gommel
CFO (eff. 12/9/24)
$0Pt VII · Sec A
See Keswick Foundation INC 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Funds Keswick Multi-Care Center and Keswick Community Health.

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Provided by the organization

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3 programs · $21.8M · in their own filed words · FY2024
01

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.

$20.6Mprogram expense
02

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.

$1.1Mprogram expense
03

Scholarships

L. Patrick deering education fund is used to benefit keswick employees and non-employees for awards, scholarships, and educational purposes.

$40Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Cora L Hall Residuary Tr 17499-0FY2024$3K
Total grants receivedfrom 1 funder$3K
Grants paid · 22 grants · $81.4M · 2019–2024
Keswick Multi-Care Center INCMD · FY2024$20,633,344
Keswick Community Health INCMD · FY2024$1,126,004
Cristo Rey NetworkIL · FY2024$25,500
University of Maryland BaltimoreFY2024$12,500
Keswick Multi-Care Center INCMD · FY2023$15,144,099
Keswick Community Health INCMD · FY2023$1,409,379
Maryland InstituteMD · FY2023$35,000
Keswick Multi-Care Center INCMD · FY2022$10,732,699
Keswick Community Health INCMD · FY2022$1,669,851
Cristo Rey Corporate Internship Program INCMD · FY2022$22,500
Maryland InstituteMD · FY2022$12,500
Keswick Multi-Care Center INCMD · FY2021$11,564,907
Keswick Community Health INCMD · FY2021$2,376,488
Cristo Rey Corporate Internship Program INCMD · FY2021$22,500
Maryland InstituteMD · FY2021$12,500
Keswick Multi-Care Center INCMD · FY2020$7,194,629
Keswick Community Health INCMD · FY2020$2,395,750
Cristo Rey Corporate Internship Program INCMD · FY2020$37,000
See all 22 grants →

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$16.3M
Ln 12
Investment incomeLn 3$16.3M
Gifts and grantsLn 1h$9K
Money outPt IX
$22.6M
Ln 25
Programscol B$21.8M
Managementcol C$799K
Owns and owesPt X
$246.9M
net assets · Ln 32
Cash and savingsLn 1–2$22.7M
Total assetsLn 16$248.2M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$9K
Investment incomeLn 3$16.3M
Gains on assetsLn 7$9.2M
Total revenueLn 12$16.3M
Assets in detailPt X, end of year
SavingsLn 2$22.7M
Cash and savings togetherLn 1–2$22.7M
InvestmentsLn 11–13$224.8M
Total assetsLn 16$248.2M
LiabilitiesLn 26$1.3M
Net assetsLn 32$246.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$25.3M$22.7M
InvestmentsLn 11–13$222.1M$224.8M
Total assetsLn 16$248.0M$248.2M
LiabilitiesLn 26$1.2M$1.3M
Net assetsLn 32$246.8M$246.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$21.8M$21.8M
Accounting feesLn 11c$10K$10K
Investment management feesLn 11f$701K$701K
Other expenses (24a–d)Ln 24$88K$88K
Total functional expensesLn 25$22.6M$21.8M$799K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $16.3M$22.6M−$6.3M$246.9M 990 PDF
FY2024 $38.8M$17.4M$21.4M$246.8M 990 PDF
FY2023 $8.7M$13.3M−$4.6M$233.0M 990 PDF
FY2022 $18.7M$14.9M$3.8M$226.0M 990 PDF
FY2021 $14.8M$10.4M$4.4M$262.0M 990 PDF
FY2020 $5.1M$7.8M−$2.7M$211.2M 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 FY2025 990 (6 parts)
Part I · Summary $16,334,541 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $7,496$9,309
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $38,750,332$16,325,232
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $38,757,828$16,334,541
I-13 Grants and similar amounts paidPrior year $16,603,478$21,799,348
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 $775,430$799,086
I-18 Total expensesPrior year $17,378,908$22,598,434
I-19 Revenue less expensesPrior year $21,378,920−$6,263,893
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $16,334,541 across 5 lines filed
VIII-1f All other contributions, gifts and grants$9,309
VIII-1h Total contributions, gifts and grants$9,309
VIII-3 Investment incomeExcluded from tax $7,095,265$7,095,265
VIII-7 Net gain or loss on sales of assetsExcluded from tax $9,229,967$9,229,967
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $16,325,232$16,334,541
Part IX · Statement of functional expenses $22,598,434 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $21,799,348$21,799,348
IX-11c Accounting feesManagement $10,500$10,500
IX-11f Investment management feesManagement $700,663$700,663
IX-24 Other expenses (24a–d)Management $87,923$87,923
IX-25 Total functional expensesPrograms $21,799,348 · Management $799,086 · Fundraising $0$22,598,434
Part X · Balance sheet $248,174,871 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $25,322,152$22,714,364
X-4 Accounts receivableStart of year $561,022$657,347
X-11 Publicly traded securitiesStart of year $137,883,533$149,104,425
X-12 Other securitiesStart of year $84,259,521$75,698,735
X-16 Total assetsStart of year $248,026,228$248,174,871
X-17 Accounts payable and accrued expensesStart of year $179,856$152,673
X-25 Other liabilitiesStart of year $1,022,878$1,103,176
X-26 Total liabilitiesStart of year $1,202,734$1,255,849
X-27 Net assets without donor restrictionsStart of year $199,358,244$196,964,358
X-28 Net assets with donor restrictionsStart of year $47,465,250$49,954,664
X-32 Total net assets or fund balancesStart of year $246,823,494$246,919,022
X-33 Total liabilities and net assetsStart of year $248,026,228$248,174,871
Part XI · Reconciliation of net assets $246,919,022 net assets at year end
XI-1 Total revenue$16,334,541
XI-2 Total expenses$22,598,434
XI-3 Revenue less expenses−$6,263,893
XI-4 Net assets at start of year$246,823,494
XI-5 Net unrealized gains (losses) on investments$6,359,421
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$246,919,022

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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