Worc Realty Corp
Nonprofit profile at a glance
- EIN
- 111705310
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024
- Location
- Oakdale, NY, USA
- Phone
- 2019525190
- Rating
- 52
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,042,788
- Expenses
- $835,705
- Assets
- $5,602,814
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- PAUL PEDRETTI (President)
- STEVE KORIN (Vice President)
Highest reported compensation
- GEORGE BIAGI (Trustee): $1,000 total reported compensation
- GREGORY CHILDS (Trustee): $1,000 total reported compensation
- GEORGE PARISI (Secretary): $500 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Holds title to a tract of land which is the site for members' individually owned summer cottages in Oakdale, NY. The organization pays maintenance and improvements to the facilities and also collects and remits real estate taxes on behalf of the members.
What it reported doing in 2024
Paid for maintenance and improvements to facilities for the property which is the site of members' individually owned summer cottages (283 in total) in oakdale, ny.
Operating model
- Revenue model
- Earned-program. 98% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 90
- Accountability: 91
- Sustainability: 80
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- 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: 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: 19.9%; rating input score 76; 76th percentile among comparable filings
- Total-asset coverage ratio: 6.7; rating input score 88; 88th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
- Officer compensation ratio: 0.4%; rating input score 61; 61st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 5.6% per year; rating input score 100; 47th percentile among comparable filings
- Asset growth: 1% per year; rating input score 100; 21st percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $1K · 9 people listed
- Consistency: 10 of 11 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 6 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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 — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Review — Accountability: Governance controls: 2 of 9 not reported.