Rupco Inc
- Assets
- $28.5m
- Revenue
- $12.8m
- Investments
- $0.0
- Employees
- 122
- Location
- Kingston, NY
- Founding
- 03/1982
- Data as of
- 12/2023
- EIN
- 22-2368174
Organization Overview
Rupco Inc is located in Kingston, 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. As of 12/2023, Rupco Inc employed 122 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rupco Inc 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 12/2023, Rupco Inc generated $12.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $14.2m during the year ending 12/2023. While expenses have increased by 7.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO CREATE HOMES, SUPPORT PEOPLE AND IMPROVE COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LOW-COST HOUSING FOR LOW-INCOME, ELDERLY, AND DISABLED PERSONS.
PROVIDE COUNSELING FOR HOUSING PURCHASES AND MANAGEMENT OF GRANT PROGRAMS TO ASSIST LOW INCOME PEOPLE WITH NESSECARY REPAIRS FOR HOMES AND SECTION 8 RENTAL UNITS.
TO CREATE AWARENESS IN THE LOCAL COMMUNITY FOR THE NEED FOR LOW INCOME HOUSING. ALSO PROMOTE ENERGY EFFICIENT HOUSING AND ADMINISTER GREEN ENERGY PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin O'connor Chief Exec Off. | Officer | 40 | $185,524 |
Jennifer Brown Former CFO | Officer | 40 | $112,287 |
Sheila Kilpatrick COO | Officer | 40 | $111,151 |
Chris Marx Director | Trustee | 1 | $0 |
Freddimir Garcia Director | Trustee | 1 | $0 |
Kathleen Pless Treasurer | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,419,116 |
| All other contributions, gifts, grants, and similar amounts not included above | $177,955 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,597,071 |
| Total Program Service Revenue | $6,206,957 |
| Investment income | $45,793 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,849,253 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $408,963 |
| Compensation of current officers, directors, key employees. | $408,963 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,926,537 |
| Pension plan accruals and contributions | $87,000 |
| Other employee benefits | $0 |
| Payroll taxes | $356,063 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $489,144 |
| Fees for services: Accounting | $75,742 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $36,921 |
| Office expenses | $62,237 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $330,082 |
| Travel | $56,346 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,510 |
| Interest | $133,828 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $614,970 |
| Insurance | $1,399,089 |
| All other expenses | $851,194 |
| Total functional expenses | $14,174,424 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,964,037 |
| Savings and temporary cash investments | $235,285 |
| Pledges and grants receivable | $2,125,873 |
| Accounts receivable, net | $2,288,322 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,345,199 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $171,124 |
| Net Land, buildings, and equipment | $7,298,111 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $19,253 |
| Other assets | $6,098,557 |
| Total assets | $28,545,761 |
| Accounts payable and accrued expenses | $662,625 |
| Grants payable | $0 |
| Deferred revenue | $1,837,200 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $109,978 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,626,748 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,363,090 |
| Total liabilities | $13,599,641 |
| Net assets without donor restrictions | $14,337,466 |
| Net assets with donor restrictions | $608,654 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $28,545,761 |