Loretto
Legal name: Loretto Rest Realty Corporation
Nonprofit profile at a glance
- EIN
- 161019465
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Syracuse, NY, USA
- Phone
- 3154695570
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Supportive Housing for Older Adults
Reported finances
- Revenue
- $1,309,571
- Expenses
- $1,313,692
- Assets
- $19,471,741
- Liabilities
- $19,765,707
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
27 people listed
Executive titles in this filing
- KIMBERLY TOWNSEND (CEO/PRESIDENT)
- STEPHANIE BUTTON (VICE PRESIDENT, PACE)
- JENNIFER INGERSON (VICE PRESIDENT, HOUSING)
- HOLLY HOEHNER (VICE PRESIDENT, GENERAL COUNSEL)
Highest reported compensation
- KIMBERLY TOWNSEND (CEO/PRESIDENT): $637,588 total reported compensation
- JOHN MURRAY (CHIEF FINANCIAL OFFICER): $303,847 total reported compensation
- HOLLY HOEHNER (VICE PRESIDENT, GENERAL COUNSEL): $278,584 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To be the best place to live with purpose, wholeness, and dignity.
What it reported doing in 2024
The organization owns real property and leases it to loretto health & rehabilitation center, a 583 bed skilled nursing facility.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The program-spending lines do not add up, so the filing cannot show reliably whether the nonprofit works directly or through others.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 82
- Accountability: 95
- Sustainability: 51
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 99.9%; rating input score 100
- Program expense ratio: 99.5%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -0.3%; rating input score 34; 34th percentile among comparable filings
- Total-asset coverage ratio: 14.82; rating input score 95; 95th percentile among comparable filings
- Liabilities to assets ratio: 1.02; rating input score 5; 5th percentile among comparable filings
- Officer compensation ratio: 4.4%; rating input score 55; 55th percentile among comparable filings
Growth
- Program expense growth: -6% per year; rating input score 0; 7th percentile among comparable filings
- Revenue growth: -5.6% per year; rating input score 0; 5th percentile among comparable filings
- Asset growth: -6.2% per year; rating input score 0; 5th percentile among comparable filings
Details
- What they do: 7 programs and campaigns described on the official site · 2 operating locations identified
- Where the money goes: 99.9% of revenue deployed · 99.5% of spending went to programs
- Governance: 16 of 16 board members independent · 8 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $1.3M in reported program spending
- Leadership: top reported pay $638K · 27 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $118K reported
- Consistency: 25 of 25 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Related organizations: 22 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 34/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 5/100.
- Review — Sustainability: Officer compensation ratio scored 55/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.