Pathstone Corporation EIN 16-0984913 Form 990 (PDF) Claim this org

Pathstone Corporation FY2022 filing

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Empowers farmworkers, rural, and urban communities through supportive housing, rental assistance, social justice advocacy, and programs that build family self-sufficiency. For fiscal year 2022 it reported $41.0M in revenue, $40.4M in expenses, and $23.8M in net assets.Pt I

Founded
1971
Type
Public charity (501(c)(3)) · Community Development
Location
Rochester, NY
Website
www.pathstone.org
Filings
5 on file (2020–2022)
Revenue
$41.0MFY2022
Expenses
$40.4M
Net assets
$23.8M
People
23
Filings
5
Updates
0
More identity details & actions ⌄
EIN  16-0984913 Public charity (501(c)(3)) Rochester, NY Founded 1971
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Figures match the IRS filing checked 7/9/26 · see original: IRS
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Size
$10–100M
What they do
Empowers farmworkers, rural, and urban communities through supportive housing, rental assistance, social justice advocacy, and programs that build family self-sufficiency.
Leadership
Alexander D Castro · President and CEO · $217K
Money in and out
$41.0M revenue, $40.4M expenses
Bottom line
86% program efficiency
Where the money goes · FY2022
Total revenue
$41.0M
Pt VIII · Ln 12
Total expenses
$40.4M
Pt IX · Ln 25
Net assets
$23.8M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $683K
Where spending went · Part IX cols B–D
Program services $0.86 Management & general $0.14
Program efficiency
86%
of spending reaches programs
Operating runway
1.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+2%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$41.0M
FY2022▲ +3%
Expenses
$40.4M
FY2022▲ +0.7%
Total assets
$36.0M
FY2022▲ +3%
Total liabilities
$12.2M
FY2022▲ +3%
Total revenue
$41.0M
Pt VIII · Ln 12
Total expenses
$40.4M
Pt IX · Ln 25
Net assets
$23.8M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$683K
Total assetsPt X · Ln 16$36.0M
Program-expense ratioPt IX · col B86%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 416
Mission & Programs · Part III

Where the work happens

3 program services account for $21.7M of program spending, described in the organization's own filed words · FY2021.
01

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.

$9.7Mprogram expense
02

Child & Family Development

Provides comprehensive services to pregnant mothers and children ages birth to school age to increase social, emotional and educational skills through activities designed to promote the overall well-being of the child and family.

$7.6Mprogram expense
03

Supportive Housing & Rental Assistance Services

Provide supportive services for residents living in PathStone Corporation rental communities consisting of: social, educational and recreational enrichment programs, information and referrals for crisis support, and access to health, nutrition, mental health and other community-based services to tenants.

$4.3Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPathstone Corporation
EINHdr · item D16-0984913
Principal addressHdr · item CRochester, NY
WebsiteHdr · item Jwww.pathstone.org
Year of formationHdr · item L1971
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S32Z)
Ruling yearIRS BMFSep 1982

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a16
Independent voting membersPt VI · Ln 1b16
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President and CEO
$217,392Pt VII · Sec A
Treasurer/Chief Financial
$206,944Pt VII · Sec A
General Counsel & Chief Le
$183,961Pt VII · Sec A
Executive Director Pathstone Foundation
$178,578Pt VII · Sec A
SR VP of Direct Services
$175,797Pt VII · Sec A
SR VP of Direct Services
$172,994Pt VII · Sec A
SR VP of Housing Services
$159,832Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Alexander D Castro’s $257K as President and CEO is at the 45th percentile of top reported officer pay among 572 $10–100M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Alexander D Castro$256,751$243,302$217,392$210,640$173,701
Ruperto Montero$251,816$209,888$206,944$175,399$117,040
Leslie W Kernan JR$204,518$191,447$183,961$174,210$157,702
Stuart Mitchell$190,070$178,578$180,515$197,878
Kathryn Bryan$182,307$173,543$149,688
Susan Boss$180,574$173,232$159,832$164,140
Anne Babcock-Stiner$178,554
Angela Iocolano$177,698

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$40.1M · 98%
Program service revenue$417K · 1%
Other revenue$395K · 1%
Contributions & grants98%$40.1M
Program service revenue1%$417K
Other revenue1%$395K
Investment income$135K
— government grantsLn 1e$36.0M
Total revenueLn 12$41.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.86 Management & general $0.14
Program services86%$34.9M
Management & general14%$5.5M
Total functional expensesLn 25$40.4M

Balance Sheet

Part X · end of year
CashLn 1$3.8M
Total assetsLn 16$36.0M
Total liabilitiesLn 26$12.2M
Total net assetsLn 32$23.8M
Months of cash on handcomputed1.1

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.8M · Operating expenses (Pt IX) $40.4M · Less non-cash grants $11K · Cash operating expenses/yr $40.3M
1.1 months
Where the money goes
Program services
Program services $34.9M · Total expenses $40.4M
86%
Management & General
Management & general $5.5M · Total expenses $40.4M
14%
Fundraising
Fundraising $0 · Total expenses $40.4M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $90K · Solicited contributions (3-yr avg) $3.8M
$0.02 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $40.1M · Total revenue $41.0M
98%
Government reliance
Government grants $36.0M · Total revenue $41.0M
88%
Earned-income share
Program service revenue $417K · Total revenue $41.0M
1%
Investment reliance
Investment income $135K · Total revenue $41.0M
+0.3%
Program self-sufficiency
Program service revenue $417K · Total expenses $40.4M
1%
Growth & trend
Revenue growth (YoY)
This year $41.0M · Prior year $39.8M
+3%
Net-asset trend (YoY)
End of year $23.8M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $41.0M · Expenses $40.4M
+2%
Liabilities-to-Assets
Total liabilities — · Total assets $36.0M
Net-asset ratio
Net assets $23.8M · Total assets $36.0M
66%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $36.0M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Alexander D Castro · Reported title President and CEO · Highest reported compensation $217K · Total expenses $40.4M
0.5%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $23.3M · Total expenses $40.4M
58%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 86%
Overhead ratio 14%
Fundraising cost ratio 0%
Revenue growth 3%
Legal fee ratio 0.09%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 2 funders$386K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$45.7M revenue · ⤓ 990 PDF
FY2023$43.2M revenue · ⤓ 990 PDF
FY2022$41.0M revenue · viewing · ⤓ 990 PDF
FY2021$39.8M revenue · ⤓ 990 PDF
FY2020$37.0M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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