Pathstone Corporation, Pathstone Development Corporation in Rochester, New York (NY)

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Pathstone Corporation, Pathstone Development Corporation
Employer Identification Number (EIN)161265765
Name of OrganizationPathstone Corporation
Secondary NamePathstone Development Corporation
In Care of NameKevin G Ryck
Address400 East Ave, Rochester, NY 14607-1910
ActivitiesDescribed in section 170(b)1)(a)(vi) of the Code, Job training, counseling, or assistance, Supplying money, goods or services to the poor
SubsectionCharitable Organization
Ruling Date09/1982
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period09/2013
Assets$10,000,000 to $49,999,999
Income$500,000 to $999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$11,926,729
Amount of Income$696,701
Form 990 Revenue Amount$696,701
National Taxonomy of Exempt Entities (NTEE)Housing, Shelter: Housing Development, Construction, Management


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Amount of income in 2013: $696,701 (it was $1,432,569 in 2012)
Pathstone Corporation, Pathstone Development Corporation: 

 $696,701
Other organizations performing similar types of work: 

 $914,408

Assets in 2013: $11,926,729 (it was $11,744,950 in 2012)
This organization: 

 $11,926,729
Other organizations performing similar types of work: 

 $2,572,607

Expenses in 2013: $637,294
Pathstone Corporation, Pathstone Development Corporation: 

 $637,294
Other organizations performing similar types of work: 

 $776,462

Income to expenses ratio in 2013: 1.1
Pathstone Corporation, Pathstone Development Corporation: 

 1.1
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2013: 8.2%
Pathstone Corporation, Pathstone Development Corporation: 

 8.2%
Other organizations performing similar types of work: 

 0.3%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?YesYes
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?YesYes
Did the organization report an amount for other assets that is 5% or more of its total assets?YesYes
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?NoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?YesYes
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?NoNo
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?NoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 109688
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?NoYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return00
Did the organization file all required federal employment tax returns?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$0$0
Total reportable compensation from related organizations$258,726$0
Total estimated amount of other compensation from the organization and related organizations$18,936$0
Total number of individuals who received more than $100,000 of reportable compensation from the organization00
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
201120122013
Total revenue$837,761$1,432,569$696,701
Contributions, Gifts, Grants and Other Similar Amounts$0$50,000$57,000
Program Service Revenue$685,535$1,203,258$582,662
531310$1,104,822$516,830
Lessors of Residential Buildings and Dwellings $98,436$65,832
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$7,327$8,312$2,125
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$-5,349$0$0
Net income/loss from fundraising events$0$0$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$150,248$170,999$54,914
900099$91,811$30,570
900099$40,760$24,344
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$555,449$734,055$637,294
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$0$0$0
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$0$0$0
Pension plan accruals and contributions$0$0
Other employee benefits$0$0
Payroll taxes$0$0$0
Fees for services (non-employees)
Management$10,905$6,546
Legal$800$2,815
Accounting$0$23,470
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$0$0
Other$477,444$416,882
Advertising and promotion$0$0
Office expenses$15,081$14,929
Information technology$0$0
Royalties$0$0
Occupancy$87,163$63,784
Travel$8,309$4,162
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$1,895$1,216
Interest$3,035$1,723
Payments to affiliates$0$0
Depreciation, depletion, and amortization$24,951$28,198
Insurance$2,560$4,519
Other expenses$57,883$50,693
Other expenses$28,580$16,714
Other expenses$3,252$128
Other expenses$0$1,515
Balance Sheet
201120122013
Total assets$10,690,248$11,744,950$11,926,729
Cash - non-interest-bearing$189,064$390,682
Savings and temporary cash investments$1,344,284$892,986
Pledges and grants receivable, net$0$0
Accounts receivable, net$1,845$2,213
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$8,311$7,077
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$6,160$7,242
Land, buildings, and equipment: cost or other basis$2,080,320$2,284,086
Investments - publicly traded securities$0$0
Investments - other securities$0$0
Investments - program-related$5,474,250$5,533,966
Intangible assets$0$0
Other assets$2,640,716$2,808,477
Total liabilities$1,601,689$1,899,825$1,962,482
Accounts payable and accrued expenses$32,564$16,581
Grants payable$0$0
Deferred revenue$0$59
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$2,726$2,726
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$830,651$759,279$721,116
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$1,105,256$1,222,000
Total net assets or fund balances$9,088,559$9,845,125$9,964,247
Unrestricted net assets$9,845,125$9,964,247
Temporarily restricted net assets$0$0
Permanently restricted net assets$0$0
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
Number of organizations supported1
Sum of amounts of support$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Ndc Housing And Economic Development Corporation, Group Return708 Third Ave Ste 710, New York, NY 10017-4201NY1988-11$203,068,087
2Phipps Houses902 Broadway Fl 13, New York, NY 10010-6033NY1948-03$116,081,109
3East Harlem Pilot Block Housing Development Fund Co Inc, Taino Towers2253 3rd Ave Fl 5, New York, NY 10035-2200NY1972-08$25,650,747
4Nhp Foundation122 E 42nd St Rm 3500, New York, NY 10168-3599NY1990-11$19,401,784
5Nehemiah Housing Development Fund Company Inc551 Vandalia Avenue 1st Floor, Brooklyn, NY 11239-2810NY1996-03$16,383,916
6Augustus & James Corporation555 West 57th Street, New York, NY 10019-2925NY1992-06$12,563,617
7Ndc Housing And Economic Development Corporation708 Third Avenue, New York, NY 10017-4201NY1988-11$7,752,529
8South Bronx Community Management Company Inc1794 Anthony Ave, Bronx, NY 10457-5905NY1987-10$2,459,227
9Sebco Vip Housing Development Fund Company Inc885 Bruckner Blvd, Bronx, NY 10459-5201NY1994-05$1,520,354
10St Barnabas Housing Development Fund Corp885 Bruckner Blvd, Bronx, NY 10459-5201NY1992-08$1,431,659
11Snow Belt Housing Company Inc7500 S State St, Lowville, NY 13367-1526NY1983-08$982,921
12St Josephs Housing Corporation341 Clinton Ave, Albany, NY 12206-3102NY1983-06$418,809
13St Philips On West 128th St Corporation290 Lenox Avenue 3rd Floor, New York, NY 10027-4991NY1984-12$299,116
14Greater Rochester Partnership Housing Development Fund Corp183 E Main St Ste 900, Rochester, NY 14604-1621NY1994-02$269,665
15Rouse Housing Development Fund Company Inc99 Bloomingrove Dr, Troy, NY 12180-8401NY2010-03$265,484
16White Plains Housing Development Fund Company Inc55 So Broadway Housing Action, Tarrytown, NY 10591NY1996-08$93,199
17Steuben-Livingston Agricultural Project IncPO BOX 418, Cohocton, NY 14826-0418NY1982-03$79,291
18Sleepy Hollow Development & Community Improvement HousingPO BOX 665, Monticello, NY 12701-0665NY1982-03$15,028
19Sanctuary For Families Housing Development Fund CorporationPO BOX 1406, New York, NY 10268-1406NY1988-10$10,000
20Affordable Housing Of North America IncPO BOX 1660, Pittsford, NY 14534-8315NY2003-11$1
Number of organizations performing similar types of work
Alaska2
Alabama2
Arkansas9
Arizona8
California114
Colorado16
Connecticut18
District of Columbia3
Delaware5
Florida41
Georgia22
Hawaii2
Iowa7
Idaho2
Illinois33
Indiana13
Kansas4
Kentucky12
Louisiana13
Massachusetts39
Maryland21
Maine7
Michigan31
Minnesota30
Missouri12
Mississippi3
Montana3
North Carolina23
North Dakota1
Nebraska3
New Hampshire7
New Jersey14
New Mexico3
Nevada6
New York110
Ohio32
Oklahoma2
Oregon11
Pennsylvania33
Rhode Island6
South Carolina4
South Dakota2
Tennessee22
Texas44
Utah6
Virginia25
Vermont8
Washington15
Wisconsin17
West Virginia7
International2
Total875
20 biggest affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
SubordinatePathstone Corporation, Group Return Pathstone Housing Acti400 East Ave, Rochester, NY 14607-1910NY1982-09$11,613,758
CentralPathstone Corporation400 East Ave, Rochester, NY 14607-1910NY1982-09$29,392,996
SubordinatePathstone Corporation, Pathstone Development Corporation400 East Ave, Rochester, NY 14607-1910NY1982-09$696,701
SubordinatePathstone Corporation, Pathstone Alliance For Better Housi648 Buena Vista Dr, Kennett Sq, PA 19348-4214PA1982-09$23,607
SubordinatePathstone Corporation, Parque Platino Inc400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinatePathstone Corporation, Beechwood Housing Development Fund400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinatePathstone Corporation, Bradmar Housing Development Fund Co400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinateRural Opportunities Inc400 East Ave, Rochester, NY 14607NY1982-09$0
SubordinatePathstone Corporation, Pathstone Development Corp Of Ohio400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinatePathstone Corporation, Pathstone Enterprise Center Inc400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinatePathstone Corporation, Pathstone Farmworker Housing Co Pa400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinatePathstone Corporation, Pathstone Farmworker Housing Corp400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinatePathstone Corporation, Pathstone Housing Action Corp Of Nj400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinatePathstone Corporation, Pathstone Housing Corp Of Indiana400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinatePathstone Corporation, Pathstone Housing Corp Of Pa400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinatePathstone Corporation, Pathstone Management Corp400 East Ave, Rochester, NY 14607-1910NY2006-07$0
SubordinatePathstone Corporation, Pathstone Opportunities For Seniors400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinatePathstone Corporation, Pathstone Opportunities Inc400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinatePathstone Corporation, Ada-Ridge Housing Development Fund400 East Ave, Rochester, NY 14607-1910NY1982-09$0
SubordinatePathstone Corporation, Albion Senior Living Housing Develo400 East Ave, Rochester, NY 14607-1910NY1982-09$0
Number of affiliated organizations
New York38
Pennsylvania1
Total39

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