TOWPATH HOUSING CORP

EIN: 161013340

LIVERPOOL, NY

Total Revenue
$722,872
Total Expenses
$914,444
Total Assets
$2,950,047
Net Assets
$2,892,836
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1973
Legal Domicile
NY
Principal Officer
RONALD PATRICK
Phone
3154519039
Tax Period
2023-04-01 to 2024-03-31

TOWPATH HOUSING CORP, founded in 1973, is a small nonprofit that reported $723K in total revenue in fiscal year 2023. Expenses of $914K exceeded revenue, resulting in a 27% operating deficit.

Mission

HOUSING PROJECT FOR THE ELDERLY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $705,967
Investment Income $16,905
Other Revenue $0
TOTAL REVENUE $722,872

Expense Breakdown

Grants Paid $0
Salaries & Benefits $119,705
Fundraising Expenses $0
Program Expenses $744,511
Other Expenses $794,739
TOTAL EXPENSES $914,444

Year-over-Year Comparison

2023 2022 Change
Revenue $722,872 $693,311 +0.0%
Expenses $914,444 $861,197 +0.1%
Net Income $-191,572 $-167,886 +0.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
4
Independent Members
4
Employees
5
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RONALD PATRICK PRESIDENT 0.50
Officer Director
$0 $0 $0
CHRISTINE PATRICK SECRETARY/TREASURER 0.50
Officer Director
$0 $0 $0
AUDREY AVERY DIRECTOR 0.50
Director
$0 $0 $0
ALAN ROTH DIRECTOR 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $722,872 $914,444 $2,950,047 $-191,572
2023 $693,311 $861,197 $3,134,919 $-167,886
2022 $677,671 $663,604 $3,288,430 $14,067
2021 $677,013 $661,355 $3,287,939 $15,658
2020 $696,157 $674,935 $3,279,573 $21,222
2019 $891,128 $708,242 $3,404,237 $182,886
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