2026-08-07T05:40:53-07:00 2025-12-31 274435968 Morey Nee Tobias & Oswald LLC 2571 Baglyos Cir Ste B20 Bethlehem PA 18020 990 2025-01-01 842453611 KENSINGTON CORRIDOR TRUST KENS 2674286299 3400 J Street Unit G12 PHILADELPHIA PA 19134 Adriana Abizadeh-Barbour Executive Dir. 2026-08-07 true WILLIAM C OSWALD P01223342 6108821000 2025 2025-03-06 01:10:19Z Adriana Abizadeh-Barbour 1381894 false X https://kctphilly.org/ X 2022 PA THE KENSINGTON CORRIDOR TRUST WORKS CLOSELY WITH COMMUNITY STAKEHOLDERS AND RESIDENTS TO DEVELOP A NEW MODEL FOR INCREASING NEIGHBORHOOD CONTROL, FOCUSING ON FUELING THE KENSINGTON AVENUE CORRIDOR AS AN ECONOMIC ENGINE THAT CAN DRIVE STABILITY AND ECONOMIC PROSPERITY IN THE NEIGHBORHOOD. THE ORGANIZATION RECOGNIZES HOW CRITICAL THE DEVELOPMENT OF PHYSICAL SPACE IS TO OVERCOMING POVERTY AND WILL LEVERAGE THE AREAS PHYSICAL ASSETS (TRANSPORTATION INFRASTRUCTURE, WALKABILITY, AVAILABILITY OF PROPERTIES) AND NEIGHBORHOOD STRENGTHS (MOBILIZED RESIDENTS, STRONG NEIGHBORHOOD-BASED ORGANIZATION) TO CREATE LASTING CHANGE. 9 9 6 0 743409 1011224 15767 2800 94273 72963 122703 294907 976152 1381894 0 0 441955 540830 0 106943 656812 873919 1098767 1414749 -122615 -32855 11263009 11662917 10999390 11432153 263619 230764 UTILIZE COLLECTIVE OWNERSHIP TO DIRECT INVESTMENTS ON THE CORRIDOR THAT PRESERVE CULTURE AND AFFORDABILITY WHILE BUILDING NEIGHBORHOOD POWER AND WEALTH IN KENSINGTON. false false 1189176 1305631 The program expenses are allocated towards driving stability and economic prosperity in the Kensington neighborhood involving the development of physical space to preserve affordability in the neighborhood and advance collective ownership. 1189176 true true false false false false false false false false true false false false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false true 31 0 false 6 false false false false false false false false 0 false false false false false false false X 9 9 false false false false false false false true true false false true true true true true true false false false PA X Management 2674286299 3400 J Street Unit G12 PHILADELPHIA PA 19134 X Adriana Abizadeh-Barbour Executive Director 40.00 0.00 152254 0 5000 Damon Bain Director 2.00 0.00 X 0 0 0 Darlene Burton Director 2.00 0.00 X 0 0 0 John Chun Secretary 2.00 0.00 X X 0 0 0 Jimmy Duran Treasurer 2.00 0.00 X X 0 0 0 Tess Donie Director 2.00 0.00 X 0 0 0 Alexander Robles Chairman 2.00 0.00 X X 0 0 0 Tayyib Smith Director 2.00 0.00 X 0 0 0 Sarah St Clair Director 2.00 0.00 X 0 0 0 Brenda Mosley Director 2.00 0.00 X 0 0 0 152254 5000 1 false true false 0 1011224 1011224 Program Revenue 2800 2800 2800 72963 72963 0 0 294407 294407 294407 294407 0 0 0 0 Other income 500 500 500 1381894 370670 X 0 0 0 0 152255 137029 7613 7613 0 328325 295493 16416 16416 0 20766 20766 39484 35536 1974 1974 0 71450 71450 23410 23410 0 0 0 16684 6631 10053 3764 3764 6347 6347 497 497 0 0 13200 13200 0 0 49538 49538 0 106611 106611 119406 107466 5970 5970 Maintenance and repairs 77745 77745 Fundraising consulting 66666 66666 utilities 62865 62865 Conference 50000 50000 205736 165004 32428 8304 1414749 1189176 118630 106943 236252 289236 3634768 2784022 30000 160000 163750 0 0 0 0 50000 169819 8421254 195164 7172993 8226090 0 0 0 0 8996 0 11263009 11662917 116465 79852 10876000 11350000 6925 2301 10999390 11432153 X -67238 -244236 330857 475000 263619 230764 11263009 11662917 -32855 X false true X true false X 232730 1136492 739648 1001224 3110094 0 0 0 0 232730 1136492 739648 1001224 3110094 0 0 3110094 94273 72963 167236 0 94273 72963 167236 0 0 232730 1136492 833921 1074187 3277330 X 0.00000 0.00000 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1400571 1400571 5429263 192798 5236465 1591420 2366 1589054 8226090 SECURITY DEPOSIT 2301 2301 X 1381894 1381894 1381894 1414749 1414749 1414749 Part X : FIN48 Footnote The preparation of the financial statements in conformity with the accrual of accounting requires the Organization to report information regarding its exposure to various tax positions taken. Management has performed their evaluation and believes there are no unrecognized tax positions that are required to be disclosed.The Organizations policy is to classify income tax related interest and penalties, if any, in interest expense and other expenses, respectively. false false false false false false false false false Adriana Abizadeh-Barbour Executive Director 152254 5000 157254 Form 990, Part VI, Section B, Line 11b THE BOARD OF DIRECTORS REVIEWS A DRAFT OF THE 990 BEFORE APPROVAL Form 990, Part VI, Section B, Line 12c Directors, officers, and key employees fill out an annual disclosure of Family and Financial Interests form. If a director, officer, or other person with substantial influence in the Organization is found to have a conflict of interest, they must recuse themselves while the Board or relevant Committee receiving that info votes on the transaction. Form 990, Part VI, Section C, Line 19 No documents available to the public. Form 990, Part IX, Line 24e Board expenses: Column (A) - Total = $18965; Column (B) - Program Services = $0; Column (C) - Management & General = $18965; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e Community stewardship: Column (A) - Total = $47000; Column (B) - Program Services = $47000; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e computer and software: Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e Continuing Ed: Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e Dues and Subscriptions: Column (A) - Total = $18265; Column (B) - Program Services = $18265; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e employee reimbursement: Column (A) - Total = $2884; Column (B) - Program Services = $2596; Column (C) - Management & General = $144; Column (D) - Fundraising = $144 Form 990, Part IX, Line 24e FEES: Column (A) - Total = $542; Column (B) - Program Services = $0; Column (C) - Management & General = $542; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e Healthcare expense: Column (A) - Total = $20445; Column (B) - Program Services = $18401; Column (C) - Management & General = $1022; Column (D) - Fundraising = $1022 Form 990, Part IX, Line 24e licenses and permits: Column (A) - Total = $7452; Column (B) - Program Services = $7452; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e MEALS & ENTERTAINMENT: Column (A) - Total = $4379; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $4379 Form 990, Part IX, Line 24e misc expense: Column (A) - Total = $8996; Column (B) - Program Services = $0; Column (C) - Management & General = $8996; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e payroll expenses: Column (A) - Total = $9138; Column (B) - Program Services = $8224; Column (C) - Management & General = $457; Column (D) - Fundraising = $457 Form 990, Part IX, Line 24e Postage and Shipping: Column (A) - Total = $7832; Column (B) - Program Services = $7832; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e program: Column (A) - Total = $0; Column (B) - Program Services = $0; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e sponsorships: Column (A) - Total = $45806; Column (B) - Program Services = $41226; Column (C) - Management & General = $2290; Column (D) - Fundraising = $2290 Form 990, Part IX, Line 24e STIPEND: Column (A) - Total = $10502; Column (B) - Program Services = $10502; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e taxes: Column (A) - Total = $230; Column (B) - Program Services = $206; Column (C) - Management & General = $12; Column (D) - Fundraising = $12 Form 990, Part IX, Line 24e Tenant assistant expenses : Column (A) - Total = $3300; Column (B) - Program Services = $3300; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 A Note on Capital Structure and Debt Utilization Kensington Corridor Trust (KCT) is a neighborhood trust operating along the Kensington Avenue corridor in Philadelphia, Pennsylvania. The Trust acquires, redevelops, and permanently stewards commercial and residential properties, creating affordable, community-controlled spaces for small businesses and residents without reliance on government subsidy.To execute this mission, KCT uses patient, mission-aligned debt capital from philanthropic lenders and values-aligned investors who provide low- and zero-interest loans on long-term horizons. This allows KCT to move decisively when acquisition opportunities arise and deploy capital into a neighborhood that conventional real estate financing has historically overlooked.Readers reviewing KCT's Form 990 should understand that the organization's debt-to-asset ratio reflects the deliberate use of borrowed capital to acquire and hold real property, not financial distress. Every dollar of debt is used to secure and reactivate real assets held in a permanent trust, which are increasingly generating revenue as properties move from acquisition and rehabilitation into active use. Each year, KCT brings additional properties on line, executing leases with small business tenants and activating formerly vacant storefronts and apartments. Rental revenue grew by 235% from 2024 to 2025 and is projected to continue growing as additional properties stabilize. This expanding revenue base is designed to cover operating costs, service debt, and sustain the organization's work in perpetuity, compounding the value of permanently affordable, community-controlled real estate held in trust for the Kensington neighborhood