Nonprofit · EIN 16-1265765
PATHSTONE CORPORATION
Also known as PATHSTONE DEVELOPMENT CORPORATION
Tax-exempt · ROCHESTER, NY 14607
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $1,719,916 | $2,634,633 | -$914,717 | $30,220,358 | $4,517,943 | $25,702,415 |
| September 30, 2024 | 990 | $1,751,587 | $1,912,869 | -$161,282 | $31,653,230 | $5,197,107 | $26,456,123 |
| September 30, 2023 | 990 | $2,925,160 | $1,773,423 | $1,151,737 | $31,206,464 | $4,499,474 | $26,706,990 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $310,000
- Program service revenue
- $710,246
- Investment income
- $296,225
- Net rental income
- $3,223
- Other revenue
- $403,445
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $62,030
- Salaries, compensation and benefits (total)
- $67,044
- Professional fundraising fees
- $0
- Legal fees
- $4,945
- Accounting fees
- $39,980
- Occupancy
- $286,611
- Travel
- $18,986
- Depreciation
- $25,265
- Program services (functional)
- $1,588,809
- Management and general (functional)
- $1,045,824
Balance sheet and other
- Total assets, start of year
- $31,653,230
- Total assets, end of year
- $30,220,358
- Total liabilities, end of year
- $4,517,943
- Net assets, end of year
- $25,702,415
- Land, buildings and equipment
- $1,374,786
- Net assets without donor restrictions
- $25,702,415
- Gross receipts
- $1,719,916
- Employees
- 1
- Volunteers
- 11
- Year formed
- 1984
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Alexander D Castro | Senior Vice President Officer | 0.4 | $0 | $283,714 | $17,545 |
| Ruperto Montero | Vice President for Finance Officer | 1 | $0 | $243,827 | $16,391 |
| Leslie W Kernan Jr | Assistant Secretary Officer | 0.4 | $0 | $221,743 | $6,660 |
| Christina Brooks | VP of Property Management Officer | 0.4 | $0 | $156,319 | $26,695 |
| Jason Sackett | President Officer | 0.4 | $52,838 | $100,874 | $3,038 |
| Jean A Lowe | Board Chair Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| Patrick Tobin | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Dirk Schneider | Board Vice Chair Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| Wilma Alejandro Ramirez | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Yvonne Thompson | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Miriam Zinter | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Serena Compitello | Board Secretary Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| Lindsay Mohr | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Tim Norman | Board Treasurer Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| Michael Nuccitelli | Member Trustee or director | 0.4 | $0 | $0 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Joel Barrett | Member Trustee or director | 0.4 | $0 |
990 for the year ended September 30, 2024: 17 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Alexander D Castro | Senior Vice President Officer | 0.4 | $0 | $256,751 | $15,762 |
| Ruperto Montero | Vice President for Finance Officer | 1 | $0 | $251,816 | $15,863 |
| Leslie W Kernan Jr | Assistant Secretary Officer | 0.4 | $0 | $204,518 | $6,136 |
| Christina Brooks | VP of Property Management Officer | 0.4 | $0 | $138,332 | $26,343 |
| Jason Sackett | President Officer | 0.4 | $52,270 | $87,124 | $2,614 |
| Kathleen Greeley | Board Treasurer Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| Jean A Lowe | Board Chair Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| Joel Frater | Member (through May 2024) Trustee or director | 0.4 | $0 | $0 | $0 |
| Patrick Tobin | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Dirk Schneider | Board Vice Chair Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| Wilma Alejandro Ramirez | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Yvonne Thompson | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Miriam Zinter | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Serena Compitello | Board Secretary Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| Phillip Borrelli Esq | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Lindsay Mohr | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Tim Norman | Member Trustee or director | 0.4 | $0 | $0 | $0 |
990 for the year ended September 30, 2023: 17 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Alexander D Castro | Senior Vice President Officer | 0.4 | $0 | $243,302 | $13,494 |
| Ruperto Montero | Vice President for Finance Officer | 1 | $0 | $209,888 | $12,063 |
| Leslie W Kernan Jr | Assistant Secretary Officer | 0.4 | $0 | $191,447 | $5,743 |
| Christina Brooks | VP of Property Management Officer | 0.4 | $0 | $120,417 | $10,845 |
| Jason Sackett | President Officer | 0.4 | $45,679 | $74,970 | $2,284 |
| Kathleen Greeley | Board Treasurer Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| Jean A Lowe | Board Chair Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| Joel Frater | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Patrick Tobin | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Dirk Schneider | Board Vice Chair Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| Wilma Alejandro Ramirez | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Yvonne Thompson | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Miriam Zinter | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Serena Compitello | Board Secretary (Start March 2023) Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
| Phillip Borrelli Esq | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Lindsay Mohr | Member Trustee or director | 0.4 | $0 | $0 | $0 |
| Joshua Gewolb | Board Secretary (Through Feb 2023) Trustee or director, Officer | 0.4 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 400 EAST AVE, ROCHESTER, NY 14607-1910
- In care of
- % MICHELLE YOHON
- Principal officer (990 for 2024)
- Ruperto Montero, 400 East Avenue, Rochester, NY 14607
- Signed the 990
- Ruperto Montero, VP for Finance
- Phone
- (585) 546-6340
- Website
- www.pathstone.org
- Return prepared by
- Heveron & Company CPAs PLLC
Mission
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 to PathStone Development Corporation.
Program accomplishments
- REAL ESTATE DEVELOPMENT:PathStone and its affiliates work with community partners, nonprofits, 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. 47 affordable housing units have been developed and $27,000,000 has been invested in affordable housing developments. (Continued on Schedule O)Services are provided by PathStone and its affiliates and are available in: Indiana, New York, Pennsylvania, and Puerto Rico.Future projects include a pipeline of over 1,000 units of preservation, new construction, and adaptive re-use opportunities. Single family for sale redevelopment continues in Indiana with three of four sites completed. Our present developments include the new construction of 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 15 units and a 65 unit mixed-use family new construction project including a childcare center. Two homes are under construction and another 36 are in predevelopment in Indiana. In Puerto Rico, the Carolinas redevelopment and the La Merced Elderly Center will provide 319 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 communities representing 2,512 units and 4,570 residents. Services are currently provided in: New York and Indiana.Expenses $937,630 · revenue $931,791
- 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 O)The portfolio consisted of 74 affordable housing communities comprised 3220 units that provided high-quality, affordable homes for 6,679 residents. The portfolio has rental properties in Indiana, New York, Pennsylvania, and Puerto Rico.Expenses $651,179 · revenue $178,677
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 15, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 16, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 17, 2025 | 990 on file |
IRS record
- EIN
- 16-1265765
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Exempt since
- 1982
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L200)
- Group exemption
- 9113: PATHSTONE CORPORATION
- Assets (IRS master file)
- $30,220,358
- Income (IRS master file)
- $1,719,916
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $1,719,916 | $2,634,633 | $30,220,358 | XML |
| 990 | September 2024 | $1,751,587 | $1,912,869 | $31,653,230 | XML |
| 990 | September 2023 | $2,925,160 | $1,773,423 | $31,206,464 | XML |
| 990 | September 2022 | $7,977,639 | $1,498,220 | $30,625,346 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about PATHSTONE CORPORATION
- What is the EIN of PATHSTONE CORPORATION?
- The employer identification number (EIN) of PATHSTONE CORPORATION is 16-1265765.
- Is PATHSTONE CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1982.
- Which annual return does PATHSTONE CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PATHSTONE CORPORATION due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PATHSTONE CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of PATHSTONE CORPORATION?
- The 990 for the year ended September 30, 2025 names Ruperto Montero.
- Who are the officers and directors of PATHSTONE CORPORATION?
- The 990 for the year ended September 30, 2025 lists 16 people; 1 received compensation from the organization.
- How much revenue does PATHSTONE CORPORATION have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $1,719,916, expenses of $2,634,633 and total assets of $30,220,358 at year end.
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