Providence Rivendell Court Apartments Inc

Nonprofit profile at a glance

EIN
273895410
IRS 990 coverage
2012–2025
Forms available
Form 990 2025
Location
Rochester, NY, USA
Phone
5855299555
Rating
48
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$12,000
Expenses
$5,301
Assets
$734,068
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Mark Greisberger (President)
  • Denise O'Toole (Vice President)
  • Donna Granger (Vice President)

Highest reported compensation

  • Dan Sturgis (Treasurer): $200,894 total reported compensation
  • Helen Bianchi (Secretary): $190,950 total reported compensation
  • Donna Granger (Vice President): $119,358 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Organization, on a non-profit basis, will develop and operate housing projects for persons of low income as stated in its Certificate of Incorporation and in following the mission of Providence Housing Development Corporation, its parent company.

What it reported doing in 2025

All existing low income housing property has been liquidated. The Organization, on a non-profit basis, will develop and operate housing projects for persons of low income as stated in its Certificate of Incorporation and in following the mission of Providence Housing Development Corporation, its parent company.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 60
  • Accountability: 32
  • Sustainability: 78
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 32.9%; rating input score 33
  • Program expense ratio: 74.5%; rating input score 74
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 10th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 55.8%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 138.48; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 593.7%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -2.5% per year; rating input score 0; 41st percentile among comparable filings
  • Revenue growth: 8.3% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 32.9% of revenue deployed · 74.5% of spending went to programs
  • Governance: 0 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4K in reported program spending
  • Leadership: top reported pay $201K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2012 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 45 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 33/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.