Rochester Management Inc

Nonprofit profile at a glance

EIN
161556654
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Rochester, NY, USA
Phone
5854672442
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$13,209,031
Expenses
$13,405,289
Assets
$17,718,821
Liabilities
$4,093,999

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • LOUIS M D'AMATO ESQ (VICE PRESIDENT)
  • SCOTT D PROCIOUS (PRESIDENT)

Highest reported compensation

  • SCOTT D PROCIOUS (PRESIDENT): $221,041 total reported compensation
  • LUKE LEEGE (DIRECTOR OF FACILITIES): $164,105 total reported compensation
  • JOEL HUGHES (SUPERINTENDENT): $148,021 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 provide clean, safe, well maintained, and affordable apartments and townhouses, suitable for anyone, in many locations throughout rochester, New York.

What it reported doing in 2024

Rochester management, inc. (rmi) manages low to middle income rental housing projects for nonprofit housing corporations.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 92% 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

SUPPORTED - Most voting board members are independent and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 62
  • Accountability: 95
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.1%; rating input score 66
  • Program expense ratio: 66%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 14th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 17.6%; rating input score 18; 9th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.5%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 1.32; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 6.9%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 66.1% of revenue deployed · 66% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $8.8M in reported program spending
  • Leadership: top reported pay $221K · 13 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $165K reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 13 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.

  • High — Transparency & Controls: Grant itemization coverage scored 18/100.
  • High — Sustainability: Operating margin scored 25/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.