Pathstone Corporation

Organization Overview

Pathstone Corporation, operating under the name Group Return PathStone Housing Action Corporation Action Corporation, is located in Rochester, NY. The organization was established in 1982. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Group Return PathStone Housing Action Corporation Action Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 09/2023, Group Return PathStone Housing Action Corporation Action Corporation generated $22.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $23.5m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO DEVELOP HIGH-QUALITY AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME FAMILIES; TO PROFESSIONALLY MANAGE THE HOUSING; TO ASSIST AND ENCOURAGE RESIDENTS PARTICIPATION TO ENSURE THAT DEVELOPMENTS OFFER A SATISFYING LIVING ENVIRONMENT; AND TO CREATE COMMUNITIES THAT ARE ASSETS TO RESIDENTS, THE LARGER COMMUNITY, AND THE ORGANIZATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ADULT EDUCATION, TRAINING & EMPLOYMENT: PROVIDE QUALITY JOB TRAINING AND EMPLOYMENT SERVICES LEADING TO GAINFUL EMPLOYMENT AT LIVABLE WAGES FOR INDIVIDUALS WHO ARE UNDEREMPLOYED OR UNEMPLOYED. THE SERVICES OFFERED ARE: SKILLS ASSESSMENT, JOB TRAINING, CAREER EXPLORATION, PLACEMENT AND RETENTION SUPPORT. THOSE SERVED INCLUDE: FARMWORKERS, SENIORS, FORMERLY INCARCERATED/RETURNING CITIZENS, TANF RECIPIENTS, RESIDENTS OF TARGETED COMMUNITIES, AND OTHER LOW-WAGE WORKERS. 3,665 PEOPLE WERE ENROLLED IN SERVICES AND 759 MORE WERE PLACED IN JOBS. CONTINUED ON SCHEDULE OSERVICES ARE AVAILABLE IN: MAINE, NEW JERSEY, NEW YORK, OHIO, PENNSYLVANIA, PUERTO RICO, VERMONT, AND VIRGINIA.THIS PROGRAM IS SUPPORTED BY GOVERNMENT GRANTS AND CONTRIBUTIONS OF $12,359,431.


RENTAL PROPERTY PORTFOLIO: CONSISTS OF THE CORPORATE LEGAL ENTITIES REQUIRED TO OWN AND OPERATE AFFORDABLE RESIDENTIAL RENTAL COMMUNITIES AND THE COMMERCIAL PROPERTIES OWNED BY PATHSTONE CORPORATION AND ITS AFFILIATE ENTITIES. LIMITED PARTNERSHIPS, LIMITED LIABILITY COMPANIES AND EQUITY HOLDING CORPORATIONS ARE ESTABLISHED TO MAINTAIN THE LONG-TERM OWNERSHIP AND ORGANIZATIONAL STRUCTURE REQUIRED BY THE PATHSTONE CORPORATION BOARD OF DIRECTORS AND GOVERNMENTAL AND PRIVATE LENDERS. THE PORTFOLIO PROVIDES HOUSING FOR QUALIFYING FAMILIES, INDIVIDUALS, FARMWORKERS, SENIORS, AND SPECIAL NEEDS POPULATION. CONTINUED ON SCHEDULE OTHE PORTFOLIO CONSISTED OF 75 AFFORDABLE HOUSING COMMUNITIES COMPRISED 3,716 UNITS THAT PROVIDED HIGH-QUALITY, AFFORDABLE HOMES FOR 6,704 RESIDENTS. THE PORTFOLIO HAS RENTAL PROPERTIES IN INDIANA, NEW YORK, OHIO, PENNSYLVANIA, AND PUERTO RICO.THIS PROGRAM IS SUPPORTED BY GOVERNMENT GRANTS AND CONTRIBUTIONS OF $185,671.


HOME REHABILITATION & ENERGY SERVICES: CREATE AND PRESERVE ASSETS THROUGH COORDINATED HOME REHABILITATION, ENERGY SERVICES, AND COMMUNITY BASED REVITALIZATION PROGRAMS. WE ARE COMMITTED TO PROMOTING SELF-SUFFICIENCY AND ECONOMIC STABILITY THROUGH SAFE, SUSTAINABLE, ENERGY EFFICIENT HOUSING AND ALSO SPECIALIZE IN PROVIDING RESOURCES, ACCESS TO APPROPRIATE FINANCING, AND ADVOCACY TO SUPPORT HOMEOWNERS. THE SERVICES OFFERED ARE: FREE AND LOW COST HOME REPAIR, ENERGY CONSERVATION UPGRADES, LEAD-BASED PAINT REMEDIATION, AND ACCESS UPGRADES FOR SENIORS AND PERSONS WITH DISABILITIES. 244 HOUSING UNITS WERE REPAIRED OR WEATHERIZED. SERVICES ARE AVAILABLE IN: INDIANA AND NEW YORK. CONTINUED ON SCHEDULE O.THIS PROGRAM IS SUPPORTED BY GOVERNMENT GRANTS AND CONTRIBUTIONS OF $2,433,186.


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Board, Officers & Key Employees

Name (title)Compensation
Miriam Zinter
Director
$0
Serena Compitello
Director
$0
Joel Frater
Director
$0
Kathleen Greeley
Director
$0
Jean Lowe
Vice-Chair
$0
Wilma Alejandro Ramirez
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $16,906,841
All other contributions, gifts, grants, and similar amounts not included above$884,856
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$17,791,697
Total Program Service Revenue$4,003,159
Investment income $443,990
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$255,184
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $21,983,662

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Southeast Grand St Guild Hdf Co Inc Residential Management Assoc Inc
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Cambridge Community Housing Development Inc
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Oub Court Housing Company Inc
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Evernorth
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2life Partners Inc
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