Pathstone Corporation
Pathstone Corporation shows consistent revenue growth and tight operating margins, but lacks transparency in executive compensation reporting.
EIN: 160984913 · Rochester, NY · NTEE: S32Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $45.7M |
| Total Expenses | $42.4M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $40 |
| Net Assets | $24.6M |
| Transparency Score | 70/100 |
Is Pathstone Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Pathstone Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Pathstone Corporation
Pathstone Corporation (EIN: 160984913) is a nonprofit organization based in Rochester, NY, classified under NTEE code S32Z. The organization reported total revenue of $45.7M and total assets of $42.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Pathstone Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Pathstone Corporation is a large nonprofit that has been operating for 44 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $43.2M |
| Total Expenses | $42.4M |
| Surplus / Deficit | +$806K |
| Total Assets | $44.3M |
| Total Liabilities | $19.6M |
| Net Assets | $24.6M |
| Operating Margin | 1.9% |
| Debt-to-Asset Ratio | 44.3% |
| Months of Reserves | 12.5 months |
Financial Health Grade: A
In 2023, Pathstone Corporation reported a surplus of $806K with revenue exceeding expenses, holds 12.5 months of operating reserves (strong position), has a debt-to-asset ratio of 44.3% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Pathstone Corporation's revenue has grown at a compound annual growth rate (CAGR) of 1.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5.4% | +5.2% | +22.9% |
| 2022 | +3.2% | +0.7% | +3.1% |
| 2021 | +7.5% | +10.2% | -3.8% |
| 2020 | +4.2% | -0.2% | +4.2% |
| 2019 | +6.1% | +13.6% | -3.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1982 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Pathstone Corporation with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Pathstone Corporation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $806K, with revenue exceeding expenses.
- Debt-to-asset ratio: 44.3%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation for Pathstone Corporation, which is highly unusual for an organization with annual revenues exceeding $40 million. This lack of reported compensation makes it impossible to assess executive pay relative to the organization's size and mission, raising significant transparency concerns.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Pathstone Corporation's IRS 990 filings:
- Consistent 0% officer compensation reported on IRS 990s, raising significant transparency concerns regarding executive pay.
- Narrow operating margins (e.g., less than 2% surplus in 2023) could limit ability to absorb unexpected costs or invest in future growth without external funding.
Strengths
The following positive indicators were identified for Pathstone Corporation:
- Consistent revenue growth over a decade, indicating strong program demand and funding success.
- Stable financial health with growing assets and manageable liabilities.
- Efficient spending with expenses closely matching revenue, suggesting most funds are directly applied to operations.
- Long history of IRS 990 filings (13 filings), demonstrating consistent compliance and reporting.
Frequently Asked Questions about Pathstone Corporation
Is Pathstone Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Pathstone Corporation (EIN: 160984913) some concerns. Mission Score: 70/100. 2 red flags identified, 4 strengths noted.
How does Pathstone Corporation spend its money?
Pathstone Corporation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Pathstone Corporation tax-deductible?
Pathstone Corporation is registered as a tax-exempt nonprofit (EIN: 160984913). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Pathstone Corporation CEO make?
Pathstone Corporation's highest-compensated officer earns $40 annually. The organization reported $45.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Pathstone Corporation's spending goes to programs?
Pathstone Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Pathstone Corporation compare to similar nonprofits?
With a transparency score of 70/100 (Good), Pathstone Corporation is above average for NTEE category S32Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Pathstone Corporation located?
Pathstone Corporation is headquartered in Rochester, New York and files with the IRS under EIN 160984913. It is classified under NTEE code S32Z.
How many years of IRS 990 filings does Pathstone Corporation have?
Pathstone Corporation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $45.7M in total revenue.
How does Pathstone Corporation compensate its executive leadership if 'Officer Comp' is consistently reported as 0%?
The IRS 990 filings for Pathstone Corporation consistently report 0% for 'Officer Comp' across all available periods. This is highly unusual for an organization of its size and revenue, suggesting that executive compensation might be reported under different categories, paid by a related entity, or that key leadership roles are filled by volunteers, which would be exceptional for an organization of this scale. Further investigation into their compensation practices is warranted.
What is the primary driver of Pathstone Corporation's consistent revenue growth?
Pathstone Corporation has shown consistent revenue growth, increasing from $29.1 million in 2014 to $43.2 million in 2023. While the specific drivers are not detailed in the provided financial summary, this sustained growth suggests successful program expansion, increased grant funding, or growing demand for their services within the S32Z NTEE code (Housing, Shelter, & Homeless Services).
Are Pathstone Corporation's increasing liabilities a concern?
Pathstone Corporation's liabilities have increased from $8.9 million in 2014 to $19.6 million in 2023. While this is an increase, their assets have also grown significantly, from $28.7 million to $44.2 million over the same period. The ratio of liabilities to assets remains manageable (approximately 44% in 2023), indicating that the organization's financial position is stable and the liabilities are likely tied to asset acquisition or program funding rather than unsustainable debt.
Filing History
IRS 990 filing history for Pathstone Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Pathstone Corporation's revenue has grown by 21.4%, moving from $35.6M to $43.2M. Total assets increased by 87.7% over the same period, from $23.6M to $44.3M. Total functional expenses rose by 25.6%, from $33.8M to $42.4M. In its most recent filing year (2023), Pathstone Corporation reported a surplus of $806K, with revenue exceeding expenses. The organization holds $19.6M in liabilities against $44.3M in assets (debt-to-asset ratio: 44.3%), resulting in net assets of $24.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $43.2M | $42.4M | $44.3M | $19.6M | — | — |
| 2022 | $41.0M | $40.4M | $36.0M | $12.2M | — | View 990 |
| 2021 | $39.8M | $40.1M | $34.9M | $11.8M | — | View 990 |
| 2020 | $37.0M | $36.4M | $36.3M | $12.8M | — | — |
| 2019 | $35.5M | $36.5M | $34.8M | $12.0M | — | View 990 |
| 2018 | $33.5M | $32.1M | $36.3M | $12.4M | — | View 990 |
| 2017 | $32.0M | $30.8M | $34.2M | $11.8M | — | View 990 |
| 2016 | $31.6M | $31.6M | $33.8M | $11.6M | — | View 990 |
| 2015 | $30.1M | $29.7M | $30.3M | $9.4M | — | View 990 |
| 2014 | $29.2M | $28.8M | $28.8M | $9.0M | — | View 990 |
| 2013 | $29.4M | $29.3M | $26.7M | $7.9M | — | View 990 |
| 2012 | $33.9M | $33.7M | $26.1M | $8.1M | — | View 990 |
| 2011 | $35.6M | $33.8M | $23.6M | $8.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $43.2M, expenses of $42.4M, and assets of $44.3M (revenue +5.4% year-over-year).
- 2022: Revenue of $41.0M, expenses of $40.4M, and assets of $36.0M (revenue +3.2% year-over-year).
- 2021: Revenue of $39.8M, expenses of $40.1M, and assets of $34.9M (revenue +7.5% year-over-year).
- 2020: Revenue of $37.0M, expenses of $36.4M, and assets of $36.3M (revenue +4.2% year-over-year).
- 2019: Revenue of $35.5M, expenses of $36.5M, and assets of $34.8M (revenue +6.1% year-over-year).
- 2018: Revenue of $33.5M, expenses of $32.1M, and assets of $36.3M (revenue +4.7% year-over-year).
- 2017: Revenue of $32.0M, expenses of $30.8M, and assets of $34.2M (revenue +1.0% year-over-year).
- 2016: Revenue of $31.6M, expenses of $31.6M, and assets of $33.8M (revenue +5.1% year-over-year).
- 2015: Revenue of $30.1M, expenses of $29.7M, and assets of $30.3M (revenue +3.2% year-over-year).
- 2014: Revenue of $29.2M, expenses of $28.8M, and assets of $28.8M (revenue -0.7% year-over-year).
- 2013: Revenue of $29.4M, expenses of $29.3M, and assets of $26.7M (revenue -13.4% year-over-year).
- 2012: Revenue of $33.9M, expenses of $33.7M, and assets of $26.1M (revenue -4.7% year-over-year).
- 2011: Revenue of $35.6M, expenses of $33.8M, and assets of $23.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Pathstone Corporation:
Data Sources and Methodology
This transparency report for Pathstone Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.