irs program accomplishments · form 990 part iii · fy2023
What they reported doing
- #1 primary $2.70MPathStone Enterprise Center (PECI), provides loans and technical assistance for small businesses and homeowners unable to get loans from conventional lenders. The services offered are origination of micro and small business loans, training for small business owners, and technical assistance for beginning businesses, as well as closing cost loans and home improvement loans for homeowners. As of September 30, 2024, PECI had 172 business loans with balances of $6,138,282 in its small business portfolio. Continued on Schedule ODuring the 2024 Fiscal Year, PECI closed 56 micro and small business loans totaling $2,728,716 while closing 15 second mortgage loans totaling $95,000 and 12 bridge loans totaling $58,246.65 in support of PathStone's home ownership and home improvement programs. Business services are available in upstate New York and Puerto Rico. Services for homeowners (closing cost and home rehab loans) are only available in the Rochester, New York MSA. This program is supported by government grants and contributions of $2,409,204.
- #2 $2.32MREAL ESTATE DEVELOPMENT: PathStone and its affiliates work with community partners, non?profits, private developers and government officials to design and build housing that is affordable, accessible and seamlessly integrated into the community in which it is built. The services offered are: development and acquisition of affordable rental housing for families, farmworkers, seniors, and special needs populations while also offering affordable single-family for sale home construction. 77 affordable housing units have been developed, $27,900,000 has been invested in affordable housing developments. Continued on Schedule OServices are provided by PathStone and its affiliates and are available in: Indiana, New York, Pennsylvania, and Puerto Rico.Future projects include the preservation of over 310 units of our existing portfolio in New York, the adaptive re-use of a historic building, a mixed-use new construction development associated with the City of Rochester's Inner Loop East transformation, and a phase II of a senior development. Single family for sale redevelopment continues in Indiana with three of four sites completed. Our present developments include the new construction of a senior development which will be PathStone's first LEED Gold and Net-Zero development, as well as a workforce housing LEED Gold and Zero development located adjacent to the Amazon Roc 1 fulfillment center. We also received two awards including the redevelopment of Creekside Clearing which will include the preservation of 32 units and the new construction of 16 units and a 65 unit mixed-use family new construction project including a childcare center. One home is under construction and another in predevelopment in Indiana. In Puerto Rico, the Carolinas redevelopment will provide 168 units of mixed income housing in collaboration with the local Public Housing Authority and Department of Housing. We are committed to provide housing to meet the needs of the communities we work in.This program is supported by government grants and contributions of $1,359,466.
named programs · 12 · from sources
What they call their work
Development of Affordable Rental and For-Sale Homes
Develops affordable housing through new construction, preservation, and adaptive reuse projects for families, seniors, farmworkers, and special needs populations.
Emergency Food & Shelter Services
Offers one-time emergency assistance to migrant and seasonal farmworkers and rural disadvantaged individuals who may not qualify for other services.
Head Start
Provides comprehensive early childhood education, health, nutrition, and family support services to economically disadvantaged children and families in New York and Puerto Rico.
Home Rehabilitation and Energy Conservation
Provides free and low-cost home repair, energy efficiency upgrades, lead abatement, and accessibility modifications for low- and moderate-income homeowners in New York and Indiana.
Housing Counseling
Offers free pre- and post-purchase homebuyer education, rental counseling, landlord education, and mortgage delinquency resolution in New York, Pennsylvania, Indiana, and Puerto Rico.
Mentoring
Provides mentoring for high school students and individuals reentering the workforce after incarceration to support job retention and personal development.
Occupational and Personal Health and Safety Training for Farmworkers
Delivers education on pesticide safety, hearing loss prevention, back care, and heat stress to agricultural workers in farm and camp settings.
PathStone Enterprise Center (PECI)
Provides micro and small business loans, technical assistance, and financial support to entrepreneurs and homeowners who cannot access conventional financing.
Property Management of Affordable Residential Communities
Manages a portfolio of affordable rental properties in New York, Indiana, and Ohio through PathStone Management Corporation.
Section 8 Housing Choice Voucher Program
Administers over 5,500 vouchers annually in six New York counties to help low-income individuals and families afford safe, decent housing.
Substance Abuse & Prevention Services
Provides HIV education, testing, counseling, and transitional planning for incarcerated women in Western New York.
Workforce Development
Offers career services including case management, job training, credentialing, placement, and retention support for unemployed, underemployed, and returning citizens.
activities · 13 groups
What they do
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Affordable Housing Development and Management 2 activities
- Affordable Housing Development and PreservationDevelops affordable rental and for-sale housing through new construction, preservation, adaptive reuse, and mixed-use projects, investing $27.9 million to develop 77 units and supporting homeownership and home improvement through bridge and mortgage loans.
- Affordable Housing ManagementManages a portfolio of 75 affordable housing communities with 3,716 rental units serving 6,704 residents across New York, Indiana, Ohio, and Puerto Rico through a full-service, non-profit property management operation.
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Early Childhood Education & Development Programs 1 activity
- Early Childhood Education ProgramsOperates Head Start, Early Head Start, Migrant & Seasonal Head Start, Pre-K Counts, and early childhood education services focused on early reading and math skills for economically disadvantaged preschoolers across multiple states.
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Direct Financial Assistance to Individuals 1 activity
- Emergency Assistance for Migrant and Seasonal FarmworkersProvides one-time emergency assistance to migrant and seasonal farmworkers and other rural disadvantaged individuals who are ineligible for other emergency services.
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Supportive and Emergency Housing Services 1 activity
- Emergency and Shelter ServicesProvides emergency and shelter services to individuals and families in need.
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ESL and Citizenship Instruction 1 activity
- English Language and Educational Support ServicesOffers English as a Second Language (ESL) instruction and limited financial support for educational books and supplies, along with broader educational support services, to individuals in select locations.
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HIV/AIDS Prevention and Support Services 1 activity
- HIV Prevention and Support Services for Incarcerated WomenProvides HIV education, prevention, testing, counseling, support groups, and transitional planning services to incarcerated women in Western New York.
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Low-Income Home Energy Efficiency Upgrades 1 activity
- Home Rehabilitation and Energy Efficiency ServicesRepairs and weatherizes homes for low- and moderate-income individuals and communities, completing 385 units in one reporting period and providing energy conservation and rehabilitation services across multiple states.
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First-Time Homebuyer Support Services 1 activity
- Housing Counseling ServicesProvides pre- and post-home purchase education, rental and landlord counseling, mortgage delinquency resolution, and other housing counseling services in New York, Pennsylvania, Indiana, and Puerto Rico.
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Union-Affiliated Trade Apprenticeship & Training 1 activity
- Occupational and Personal Health and Safety TrainingProvides occupational health and safety training to farmworkers and community residents on pesticide safety, hearing loss prevention, back care, heat stress, and related topics.
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Section 8 Housing Voucher Administration 1 activity
- Section 8 Housing Choice Voucher AdministrationAdministers over 5,500 Section 8 Housing Choice Vouchers annually in six counties in New York State (Sullivan, Dutchess, Orange, Yates, Orleans, and Genesee) to support low-income households with rental assistance.
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Small Business and Nonprofit Lending 1 activity
- Small Business Lending and Technical AssistanceOffers microloans, larger loans, and targeted technical assistance to small businesses and emerging entrepreneurs who lack access to conventional financing, supporting business development and growth.
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Substance Use Information and Referral Services 1 activity
- Substance Abuse Prevention and Treatment ServicesDelivers substance abuse and prevention services in Western New York.
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Workforce Readiness Training 1 activity
- Workforce Development and Employment ServicesProvides customized professional development, career counseling, case management, occupational skills training, job placement, post-placement retention support, mentoring, and financial assistance for credentials to unemployed, underemployed, and disadvantaged adults, including farmworkers, returning citizens, veterans, youth, and mature workers.
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financials · form 990 · fy2023
revenue
Total revenue$22.60M
Contributions & grants$18.53M82%
Program service revenue$4.13M18%
Investment income$-62K-0%
Other revenue$0
expenses
Total expenses$24.97M
Program expenses88%
Admin / overhead12%
Fundraising0%
Salaries & benefits$0
Grants paid out$11.86M
Largest expense lineProfessional Fees
balance sheet
Total assets$150.73M
Cash$12.48M
Investments$52.81M
Liabilities$35.56M
Net assets$115.17M
Liquid reserves31.4 mo
4 years on record · 2020–2023 · YoY revenue +2.8%
leadership · form 990 part vii · fy2023
Who runs it
paid leadership · 9
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| Alexander Castro | Senior Vice President | 0 | $273K |
| Ruperto Montero | VP of Finance, Treasurer | 0 | $268K |
| Leslie W Kernan Jr | Secretary | 0 | $211K |
| Susan Boss | VP for Housing | 0 | $199K |
| Kathryn Bryan | VP and Assistant Treasurer | 0 | $195K |
| Christina Brooks | VP for Property Management | 0 | $165K |
| Jason Sackett | President | 0 | $142K |
| Maria Rodriguez-Collazo | Vice President | 0 | $135K |
| Rosa Uriarte | Assistant Secretary | 0 | $79K |
board members · 11
- Dirk Schneider — Chairperson
- Jean Lowe — Vice-Chairperson
- Kathleen Greeley — Director
- Lindsay Mohr — Director
- Miriam Zinter — Director
- Patrick Tobin — Director
- Phillip Borrelli Esq — Director
- Serena Compitello — Director
- Tim Norman — Director
- Wilma Alejandro Ramirez — Director
- Yvonne Thompson — Director
relationships · 10
Who they work with
- Department of Housing Government — Partners on mixed-income housing development in Puerto Rico.
- Federal government agencies Government — Receives partial support from federal grants.
- Local government agencies Government — Receives partial support from local grants.
- Public Housing Authority Partner — Collaborates on redevelopment projects such as Carolinas redevelopment in Puerto Rico.
- State government agencies Government — Receives partial support from state grants.
- U.S. Department of Housing & Urban Development Government — Administers the Section 8 Housing Choice Voucher Program in partnership with PathStone.
- federal, state and local government agencies Government — Receives partial support from grants provided by federal, state, and local government agencies.
- government officials Partner — Collaborates with government officials in designing and building affordable housing.
- sector partnerships Partner — Creates industry-specific partnerships to prepare job candidates for multiple employers within a sector.
- variety of employers Partner — Collaborates with multiple employers to place job candidates and support post-hire retention.
strategies · 4
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Housing as a Platform for Economic Stability and Community Integrationmethodology: housing_firstBy developing affordable, energy-efficient housing with integrated counseling and property management, and by collaborating with community stakeholders, we promote economic stability and self-sufficiency because stable, integrated housing enables long-term resident engagement and upward mobility.
- Integrated Financial and Business Counseling for Economic Empowermentmethodology: integrated_counseling_modelBy combining one-on-one financial counseling with technical assistance and lending, we build long-term financial capability and entrepreneurial success, because personalized support addresses both capital access and financial literacy barriers.
- People-Centered Workforce Development with Post-Placement Supportmethodology: post_placement_retentionBy delivering customized workforce training and maintaining engagement between job developers, employees, and employers after placement, we improve long-term employability and job retention because sustained support reduces turnover and builds career resilience.
- Two-Generation Approach in Early Educationmethodology: two_generation_approachBy offering both home-based and center-based early education options and engaging parents in their children's learning, we improve child outcomes while advancing parental progress in education and employment, because coordinated family development compounds long-term success for both generations.