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Nonprofiteer
← ROC USA LLC

Form 990 for tax year 2023

Filed by ROC USA LLC.

Totals

Total revenue
$21,389,105
Total expenses
$13,212,084
Contributions and grants received
$11,576,646
Grants paid
$282,450
Program service revenue
$9,420,974
Investment income
$391,485
Other revenue
$0
Total assets, end of year
$193,742,158
Total liabilities, end of year
$166,837,983
Net assets or fund balances, end of year
$26,904,175
Program services expenses (Part IX)
$11,368,208
Management and general expenses
$1,711,910
Fundraising expenses
$131,966
Program service expenses (Part III)
$11,368,208

Program services were 86.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $135,000

  • 1f · All other contributions, gifts and grants

    $11,441,646

  • 2a · Program service revenue: INTEREST INCOME ON PROGRAM RELATE

    total $8,133,580 · related or exempt $8,133,580

  • 2b · Program service revenue: FEE AND OTHER INCOME

    total $883,724 · related or exempt $883,724

  • 2c · Program service revenue: ORIGINATION FEES AND GAIN ON LOAN

    total $237,709 · related or exempt $237,709

  • 2d · Program service revenue: REIMBURSEMENT & MISC INCOME

    total $162,961 · related or exempt $162,961

  • 2e · Program service revenue: NETWORK FEES

    total $3,000 · related or exempt $3,000

  • 3 · Investment income

    total $391,485 · excluded $391,485

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $282,450 · program services $282,450

  • 5 · Compensation of officers, directors and key employees

    total $1,712,798 · program services $1,233,215 · management and general $445,327 · fundraising $34,256

  • 7 · Other salaries and wages

    total $2,215,423 · program services $1,595,105 · management and general $576,010 · fundraising $44,308

  • 8 · Pension plan contributions

    total $104,787 · program services $75,447 · management and general $27,245 · fundraising $2,095

  • 9 · Other employee benefits

    total $278,039 · program services $200,188 · management and general $72,290 · fundraising $5,561

  • 10 · Payroll taxes

    total $353,377 · program services $254,431 · management and general $91,878 · fundraising $7,068

  • 11a · Fees: management

    total $200,144 · program services $200,144

  • 11b · Fees: legal

    total $70,938 · program services $70,938

  • 11c · Fees: accounting

    total $44,124 · program services $31,769 · management and general $11,472 · fundraising $883

  • 11d · Fees: lobbying

    total $78,938 · management and general $78,938

  • 11g · Fees: other

    total $484,125 · program services $444,996 · management and general $35,524 · fundraising $3,605

  • 12 · Advertising and promotion

    total $8,651 · management and general $8,651

  • 13 · Office expenses

    total $247,568 · program services $123,175 · management and general $122,893 · fundraising $1,500

  • 16 · Occupancy

    total $209,162 · program services $166,180 · management and general $37,897 · fundraising $5,085

  • 17 · Travel

    total $404,916 · program services $271,293 · management and general $117,426 · fundraising $16,197

  • 20 · Interest

    total $4,034,475 · program services $4,034,475

  • 22 · Depreciation, depletion and amortization

    total $19,878 · program services $19,878

  • 23 · Insurance

    total $63,627 · program services $50,513 · management and general $11,746 · fundraising $1,368

  • 24a · Other expenses: SERVICING FEES

    total $1,377,329 · program services $1,377,329

  • 24b · Other expenses: LOAN LOSS PROVISION

    total $680,853 · program services $680,853

  • 24c · Other expenses: MINOR EQUIPMENT

    total $251,007 · program services $168,175 · management and general $72,792 · fundraising $10,040

  • 24d · Other expenses: COMMUNICATIONS

    total $60,705 · program services $58,884 · management and general $1,821

  • 24e · All other expenses

    total $28,770 · program services $28,770

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,331,151 · end of year $1,817,555

  • 2 · Savings and temporary cash investments

    beginning of year $26,529,448 · end of year $40,902,543

  • 3 · Pledges and grants receivable

    beginning of year $70,952 · end of year $33,296

  • 9 · Prepaid expenses and deferred charges

    beginning of year $52,421 · end of year $58,266

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

    $360,034

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

    $298,963

  • 10c · Land, buildings and equipment, net

    beginning of year $31,474 · end of year $61,071

  • 12 · Investments: other securities

    beginning of year $214,378 · end of year $218,487

  • 13 · Investments: program-related

    beginning of year $146,250,959 · end of year $149,598,310

  • 15 · Other assets

    beginning of year $1,620,855 · end of year $1,052,630

  • 17 · Accounts payable and accrued expenses

    beginning of year $675,623 · end of year $1,088,446

  • 19 · Deferred revenue

    beginning of year $116,000 · end of year $111,136

  • 21 · Escrow or custodial account liability

    beginning of year $17,285,101 · end of year $19,578,841

  • 23 · Secured mortgages and notes payable

    beginning of year $44,168,811 · end of year $43,158,322

  • 24 · Unsecured notes and loans payable

    beginning of year $94,864,526 · end of year $100,809,193

  • 25 · Other liabilities

    beginning of year $3,076,923 · end of year $2,092,045

  • 27 · Net assets without donor restrictions

    beginning of year $10,295,481 · end of year $16,761,897

  • 28 · Net assets with donor restrictions

    beginning of year $8,619,173 · end of year $10,142,278

Mission and programs · 2023

Mission

ROC USA SUPPORTS HOMEOWNERS IN MANUFACTURED HOME COMMUNITIES TO ACHIEVE AFFORDABLE AND ENVIRONMENTALLY SUSTAINABLE SELF-GOVERNING COOPERATIVES.

Activities or mission (Part I)

THE ORGANIZATION'S PURPOSE IS TO AID PEOPLE LIVING IN MANUFACTURED HOME COMMUNITIES (MHCS) SO THAT AS A GROUP THEY CAN PURCHASE THEIR COMMUNITIES AND OPERATE THEM AS RESIDENT-OWNED AND/OR CONTROLLED ENTITIES THEREBY: (I) PRESERVING LONG-TERM EXISTENCE AND AFFORDABILITY OF THE MANUFACTURED HOUSING SECTOR;(II) CREATING A STABLE ENVIRONMENT FOR REASONABLY PRICED(NON-PREDATORY) SINGLE-FAMILY LENDING AND THE RESULTING ASSET APPRECIATION;(III) LESSENING THE BURDENS OF STATE AND LOCAL GOVERNMENTS ARISING OUT OF THE LOSS OF THIS SECTOR OF AFFORDABLE HOUSING (I.E. PRIMARILY THE DEMANDS FOR RELOCATION ASSISTANCE AND SUBSIDIZED HOUSING ALTERNATIVES ARISING FROM MHC CLOSURES); (IV) COMBATING DETERIORATION OF MHCS; AND (V) ELIMINATING THE ECONOMIC DISCRIMINATION AND STIGMA SUFFERED BY OWNERS OF MANUFACTURED AND MOBILE HOMES WITHIN MHCS.

  • ROC USA FOCUSES ON GOVERNANCE, STRATEGY, BRAND, FINANCIAL MANAGEMENT, COMMUNICATIONS AND IN CONJUNCTION WITH NETWORK AFFILIATED NONPROFIT CERTIFIED TECHNICAL ASSISTANCE PROVIDERS WORK WITH RESIDENT GROUPS TO PROVIDE CORE TRAINING AND EDUCATION, COMMUNITY RE-BRANDING, HOUSING REHABILITATION AND INFILL OF VACANT SITES. THEY ALSO ASSIST IN PROVIDING COMMUNITY SOLAR INFRASTRUCTURE AND LEVERAGING HOME AND COMMUNITY IMPROVEMENT RESOURCES FOR ROCS IN THEIR REGIONS.DURING 2023 ROC USA ASSISTED 17 ADDITIONAL RESIDENT OWNED COMMUNITIES AND PRESERVED 1,182 HOMES IN EIGHT STATES. ROC USA NOW SERVES 304 COMMUNITIES AND SERVES OVER 20,000 HOMEOWNERS IN 21 STATES FROM COAST TO COAST.

    Expenses $3,780,175 · Grants $282,450 · Revenue $165,961

  • RESIDENT OWNERSHIP CAPITAL, LLC PROVIDES LOANS TO RESIDENT OWNED CORPORATIONS FOR ACQUISITION, IMPROVEMENT AND OPERATION OF THEIR MANUFACTURED HOME COMMUNITIES AS RESIDENT-OWNED. IN 2023, RESIDENT OWNERSHIP CAPITAL PROVIDED $36M IN FINANCING TO FIVE ROCS FOR DUE DILIGENCE AND COMMUNITY ACQUISITIONS AND IMPROVEMENTS. ROC USA RELEASED THIRD-PARTY IMPACT DATA ON ROC USA CAPITAL'S PORTFOLIO COMMUNITIES. THE STUDY SHOWS THAT ROCS AFTER FIVE YEARS OF OWNERSHIP HAVE MONTHLY SITE FEES BETWEEN MARKET RATE AND AS MUCH AS 17% BELOW MARKET IN THEIR RESPECTIVE MARKETS. THE IMPACT REPORT IS A PART OF A LONGITUDINAL COMPARABLE SITE FEE STUDY CONDUCTED FOR ROC USA BY AN INDEPENDENT APPRAISER. ROCS IN THE STUDY ARE ON AVERAGE RAISING SITE FEES 1% PER YEAR. THERE IS NO COMPARABLE STATISTIC FOR COMMERCIALLY-OPERATED COMMUNITIES HOWEVER IN ONE OF THE SUBJECT PROPERTIES, SITE FEES WERE RAISED 2.5% ANNUALLY PRIOR TO RESIDENT OWNERSHIP.

    Expenses $7,588,033 · Revenue $9,255,013

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Andrea Levere

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Lauren Counts

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Sarah Marchant

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Tamar Greenspan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Julia Curry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Egan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marjory Gilsrud

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sam Green

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Amir Kirkwood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeannie Oliver

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Doug Ryan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jenee Gaynor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Deborah Winiewicz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Bradley

    PRESIDENT

    Total calculated
    $311,668
    From this org
    $278,410
    From related orgs
    $0
    Other
    $33,258
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $228,410
    Bonus
    $50,000
    Other
    $0
    Deferred
    $7,272
    Nontaxable benefits
    $25,986
    Filer's total
    $311,668

  • Nicholas Salerno

    CHIEF OPERATING OFFICER

    Total calculated
    $188,088
    From this org
    $176,761
    From related orgs
    $0
    Other
    $11,327
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,761
    Bonus
    $21,000
    Other
    $0
    Deferred
    $4,705
    Nontaxable benefits
    $6,622
    Filer's total
    $188,088

  • David Doyon

    CHIEF FINANCIAL OFFICER

    Total calculated
    $254,536
    From this org
    $221,927
    From related orgs
    $0
    Other
    $32,609
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,927
    Bonus
    $11,000
    Other
    $0
    Deferred
    $6,547
    Nontaxable benefits
    $26,062
    Filer's total
    $254,536

  • Michael Sloss

    MANAGING DIRECTOR ROC USA CAPITAL

    Total calculated
    $239,792
    From this org
    $218,620
    From related orgs
    $0
    Other
    $21,172
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $207,620
    Bonus
    $11,000
    Other
    $0
    Deferred
    $6,324
    Nontaxable benefits
    $14,848
    Filer's total
    $239,792

  • Mary O'Hara

    EVP ROC MOVEMENT

    Total calculated
    $214,288
    From this org
    $185,407
    From related orgs
    $0
    Other
    $28,881
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,407
    Bonus
    $11,000
    Other
    $0
    Deferred
    $5,454
    Nontaxable benefits
    $23,427
    Filer's total
    $214,288

  • Colleen Lindecker

    EVP TRAINING AND CONTINUOUS LEARNING

    Total calculated
    $175,137
    From this org
    $170,370
    From related orgs
    $0
    Other
    $4,767
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,370
    Bonus
    $11,000
    Other
    $0
    Deferred
    $4,767
    Nontaxable benefits
    $0
    Filer's total
    $175,137

  • Frank Wilson

    EVP COOPERATIVE SOLUTIONS

    Total calculated
    $197,319
    From this org
    $191,906
    From related orgs
    $0
    Other
    $5,413
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,906
    Bonus
    $11,000
    Other
    $0
    Deferred
    $5,413
    Nontaxable benefits
    $0
    Filer's total
    $197,319

  • Amy Chhom

    VP TECHNICAL AND SPECIAL PROJECTS

    Total calculated
    $163,619
    From this org
    $141,106
    From related orgs
    $0
    Other
    $22,513
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,106
    Bonus
    $21,000
    Other
    $0
    Deferred
    $3,863
    Nontaxable benefits
    $18,650
    Filer's total
    $163,619

  • Angela Romeo

    VP ACQUISITIONS

    Total calculated
    $138,201
    From this org
    $128,291
    From related orgs
    $0
    Other
    $9,910
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • RESIDENT OWNERSHIP NETWORK LLC

    TRAINS AND CERTIFIES NON PROFIT CERTIFIED TECHNICAL ASSISTANCE PROVIDERS · DE · income $61,634 · assets $0

    Directly controlled by ROC USA LLC

  • RESIDENT OWNERSHIP CAPITAL LLC

    ACQUISITION FINANCING TO RESIDENT CORPORATIONS FOR COMMUNITY PURCHASES. · DE · income $5,629,779 · assets $177,825,470

    Directly controlled by ROC USA LLC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • INTEGRITY COMMUNITY SOLUTIONS INC

    C · OPERATE MOBILE HOMES · NH · share of assets $70,378

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2024
IRS schema version
2023v5.0
Source object
202431369349306723

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