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Kinnert INC FY2022 filing

Tax-deductible

Orlando, FL501(c)(3)HousingEIN 59-6194199

Kinneret, INC. Is the owner of a hud subsidized apartment complex whose mission is to provide affordable housing and related services to low income elderly through participation in the section 202 program.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
5 of 6
filings with a surplus
Average surplus $1.1M a year · 20% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$912K
40% of total assets
Looks good: liabilities are 40% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.1M
+74% vs prior year
Spent
$1.2M
To programs
79%
Net assets
$1.4M
By yearFY2020–FY2025
Revenue
$2.1M
FY2022▲ +74%
Revenue by fiscal year
FY2020$1.1M
FY2021$1.2M
FY2022$2.1M
FY2023$28.8M
FY2024$458K
FY2025$440K
Expenses
$1.2M
FY2022▲ +11%
Expenses by fiscal year
FY2020$1.0M
FY2021$1.0M
FY2022$1.2M
FY2023$467K
FY2024$139K
FY2025$23.5M
Net assets
$1.4M
FY2022▲ +170%
Net assets by fiscal year
FY2020$344K
FY2021$499K
FY2022$1.4M
FY2023$29.9M
FY2024$31.4M
FY2025$9.2M

From the FY2022 Form 990 (year ending April 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1972.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $917K Management & general 21% · $243K

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

Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Dick Applebaum
Vice President
$0Pt VII · Sec A
Scott Zimmerman
VP, Treasurer
$0Pt VII · Sec A
Neal Blaher
Director
$0Pt VII · Sec A
Lynn Fenster
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Larry Gutter
Director
$0Pt VII · Sec A
Erin Katzman
Director
$0Pt VII · Sec A
See Kinnert 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides affordable housing and services to low-income seniors.

Provided by the organization

This section is blank until Kinnert INC claims this page.

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1 program service account for $917K of program spending, described in the organization's own filed words · FY2021.
01

The organization operates a low income housing project for elderly and handicapped individuals.

$917Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 3 grants · $22.6M · 2022–2024
Sefirot Foundation INCFL · FY2024$22,499,800
Kinneret Council on Aging INCFL · FY2023$50,000
Kinneret Council on Aging INCFL · FY2022$62,400

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.1M
Ln 12
Fees for servicesLn 2g$2.1M
Other incomeLn 4–11$25K
Investment incomeLn 3$3K
Money outPt IX
$1.2M
Ln 25
Programscol B$917K
Managementcol C$243K
Owns and owesPt X
$1.4M
net assets · Ln 32
Cash and savingsLn 1–2$365K
Total assetsLn 16$2.3M
LiabilitiesLn 26$912K
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$2.1M
Investment incomeLn 3$3K
Other incomeLn 4–11$25K
Total revenueLn 12$2.1M
Assets in detailPt X, end of year
CashLn 1$272K
SavingsLn 2$93K
Cash and savings togetherLn 1–2$365K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$604K
Other assetsLn 15$79K
Total assetsLn 16$2.3M
LiabilitiesLn 26$912K
Net assetsLn 32$1.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderApril
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 FY22End FY22
Cash and savingsLn 1–2$140K$365K
InvestmentsLn 11–13$644K$1.1M
Land, buildings, equipmentLn 10c$586K$604K
Total assetsLn 16$1.5M$2.3M
LiabilitiesLn 26$953K$912K
Net assetsLn 32$499K$1.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$201K$108K$93K
Management feesLn 11a$106K$106K
Other fees for servicesLn 11g$64K$64K
InterestLn 20$10K$10K
Depreciation, depletion and amortizationLn 22$33K$33K
InsuranceLn 23$183K$183K
Other expenses (24a–d)Ln 24$561K$518K$43K
Total functional expensesLn 25$1.2M$917K$243K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $440K$23.5M−$23.0M$9.2M 990 PDF
FY2024 $458K$139K$319K$31.4M 990 PDF
FY2023 $28.8M$467K$28.4M$29.9M 990 PDF
FY2022 Viewing $2.1M$1.2M$921K$1.4M 990 PDF
FY2021 $1.2M$1.0M$155K$499K 990 PDF
FY2020 $1.1M$1.0M$127K$344K 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $2,081,152 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,052,660$2,052,660
VIII-3 Investment incomeExcluded from tax $3,437$3,437
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $25,055$25,055
VIII-12 Total revenueRelated to mission $2,077,715 · Unrelated business $0 · Excluded from tax $3,437$2,081,152
Part IX · Statement of functional expenses $1,159,823 across 7 lines filed
IX-7 Other salaries and wagesPrograms $108,372 · Management $92,956$201,328
IX-11a Management feesManagement $106,414$106,414
IX-11g Other fees for servicesPrograms $63,689$63,689
IX-20 InterestPrograms $10,443$10,443
IX-22 Depreciation, depletion and amortizationPrograms $33,380$33,380
IX-23 InsurancePrograms $183,107$183,107
IX-24 Other expenses (24a–d)Programs $518,155 · Management $43,307$561,462
IX-25 Total functional expensesPrograms $917,146 · Management $242,677 · Fundraising $0$1,159,823
Part X · Balance sheet $2,262,156 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $51,988$272,440
X-2 Savings and temporary cash investmentsStart of year $88,212$92,749
X-4 Accounts receivableStart of year $2,154$2,645
X-9 Prepaid expenses and deferred chargesStart of year $79,106$95,880
X-10c Land, buildings and equipment, netStart of year $585,757$603,965
X-13 Program-related investmentsStart of year $643,614$1,115,443
X-15 Other assetsStart of year $1,150$79,034
X-16 Total assetsStart of year $1,451,981$2,262,156
X-17 Accounts payable and accrued expensesStart of year $130,856$73,868
X-19 Deferred revenueStart of year $2,394$8,119
X-25 Other liabilitiesStart of year $87,352$89,964
X-26 Total liabilitiesStart of year $952,699$912,087
X-27 Net assets without donor restrictionsStart of year $499,282$1,350,069
X-32 Total net assets or fund balancesStart of year $499,282$1,350,069
X-33 Total liabilities and net assetsStart of year $1,451,981$2,262,156
Part XI · Reconciliation of net assets $1,350,069 net assets at year end
XI-1 Total revenue$2,081,152
XI-2 Total expenses$1,159,823
XI-3 Revenue less expenses$921,329
XI-4 Net assets at start of year$499,282
XI-5 Net unrealized gains (losses) on investments−$70,542
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,350,069

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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