Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: CLIENT RENTS

  total $302,758 · related or exempt $302,758

• 3 · Investment income

  total $4,380 · excluded $4,380

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $72,580 · program services $72,580

• 9 · Other employee benefits

  total $9,763 · program services $9,763

• 10 · Payroll taxes

  total $6,479 · program services $6,479

• 11a · Fees: management

  total $30,814 · management and general $30,814

• 11c · Fees: accounting

  total $8,350 · program services $8,350

• 13 · Office expenses

  total $1,251 · program services $1,063 · management and general $188

• 16 · Occupancy

  total $78,337 · program services $73,031 · management and general $5,306

• 20 · Interest

  total $20,166 · program services $20,166

• 22 · Depreciation, depletion and amortization

  total $395 · program services $395

• 23 · Insurance

  total $24,681 · program services $24,681

• 24a · Other expenses: MAINTENANCE AND REPAIRS

  total $37,106 · program services $37,106

• 24b · Other expenses: TAXES AND LICENSES

  total $520 · program services $520

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $221,355 · end of year $191,311

• 2 · Savings and temporary cash investments

  beginning of year $187,744 · end of year $196,840

• 4 · Accounts receivable

  end of year $10,079

• 10a · Land, buildings and equipment: cost or other basis

  $823,803

• 10b · Land, buildings and equipment: accumulated depreciation

  $737,126

• 10c · Land, buildings and equipment, net

  beginning of year $87,073 · end of year $86,677

• 15 · Other assets

  beginning of year $7,346 · end of year $6,912

• 17 · Accounts payable and accrued expenses

  beginning of year $34,214 · end of year $9,289

• 21 · Escrow or custodial account liability

  beginning of year $6,556 · end of year $5,957

• 23 · Secured mortgages and notes payable

  beginning of year $247,153 · end of year $195,972

• 25 · Other liabilities

  beginning of year $225,262 · end of year $273,572

• 27 · Net assets without donor restrictions

  beginning of year -$9,667 · end of year $7,029

The filer's explanations (Part III)

PART I, LINE 3

THE BOARD OF DIRECTORS DETERMINES THE COMPENSATION OF THE CEO. THE BOARD OF DIRECTORS ARE ALL INDEPENDENT PERSONS AND HAVE NO PERSONAL RELATIONSHIP TO THE CEO. THE BOARD REVIEWS THE ACCOMPLISHMENTS OF THE CEO, HAS COMPARATIVE COMPENSATION AND BENEFIT DATA, PROVIDED BY AN INDEPENDENT SOURCE, OF CEOS EMPLOYED IN A SIMILAR SIZE AND TYPE OF ORGANIZATION. AN INDEPENDENT COMPENSATION CONSULTANT WAS ENGAGED TO RESEARCH AND ANALYZE COMPARATIVE SALARY AND BENEFIT DATA AND THEN MAKE RECOMMENDATIONS TO THE BOARD OF DIRECTORS ON A COMPREHENSIVE COMPENSATION PACKAGE. THE CEO IS COMPENSATED FOR THE OPERATIONS OF PATH, INC., PATH GROUP HOMES AND PATH HOUSING ASSOCIATES, INC. THE BOARD OF DIRECTORS MEETS IN EXECUTIVE SESSION TO DISCUSS AND DETERMINE THE CEO'S CONTRACT WHICH IS DOCUMENTED IN THE CORPORATE FILES.