Preferred Properties Inc
- Assets
- $7.5m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 10
- Location
- Toledo, OH
- Founding
- 03/1993
- Data as of
- 06/2021
- EIN
- 34-1715222
Organization Overview
Preferred Properties Inc is located in Toledo, OH. The organization was established in 1993. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Preferred Properties Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Preferred Properties Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Preferred Properties Inc generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $1.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING AFFORDABLE AND ACCESSIBLE HOUSING FOR PERSONS WITH DISABILITIES AND OTHERS IN NEED
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE AFFORDABLE HOUSING TO PERSONS WITH DISABILITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl Wilson Executive Director | Officer | 34 | $72,043 |
John Nolan Chair | OfficerTrustee | 1 | $0 |
Julia Lee Vice Chairman | OfficerTrustee | 1 | $0 |
Veronica Ross Secretary | OfficerTrustee | 1 | $0 |
Connie Farell Treasurer | OfficerTrustee | 1 | $0 |
Abel Herrera Jr Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $550,254 |
| All other contributions, gifts, grants, and similar amounts not included above | $45,920 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $596,174 |
| Total Program Service Revenue | $644,660 |
| Investment income | $86,088 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,351,987 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $100,745 |
| Compensation of current officers, directors, key employees. | $20,149 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $456,334 |
| Pension plan accruals and contributions | $13,414 |
| Other employee benefits | $115,041 |
| Payroll taxes | $41,262 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,905 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,500 |
| Advertising and promotion | $36 |
| Office expenses | $11,160 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $243,843 |
| Travel | $13,703 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $184,876 |
| Insurance | $5,439 |
| All other expenses | $0 |
| Total functional expenses | $1,226,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $215,609 |
| Savings and temporary cash investments | $314,787 |
| Pledges and grants receivable | $200,000 |
| Accounts receivable, net | $120,345 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $211 |
| Net Land, buildings, and equipment | $2,696,482 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,980,934 |
| Intangible assets | $0 |
| Other assets | $7,326 |
| Total assets | $7,535,694 |
| Accounts payable and accrued expenses | $70,168 |
| Grants payable | $0 |
| Deferred revenue | $94,576 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $171,305 |
| Total liabilities | $336,049 |
| Net assets without donor restrictions | $3,130,411 |
| Net assets with donor restrictions | $4,069,234 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,535,694 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Preferred Properties Inc has recieved totaling $17.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $17 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kentucky River Foothills Development Council Inc Richmond, KY | $12,381,295 | $19,871,173 |
Community Action Of Southern Kentucky Incorporated Bowling Green, KY | $10,381,389 | $18,999,181 |
Northern Kentucky Community Action Commisson Inc Covington, KY | $8,823,439 | $18,121,235 |
University Circle Incorporated Cleveland, OH | $134,622,719 | $18,118,457 |
Foundation For Detroits Future Detroit, MI | $47,892,805 | $26,320,980 |
Usw District 10 Local 286 Welfare Trust Fund Philadelphia, PA | $8,668,111 | $17,307,586 |
Economic And Community Development Institute Inc Columbus, OH | $78,355,876 | $19,971,101 |
Liberty Lutheran Housing Development Corporation State College, PA | $52,974,358 | $15,701,429 |
Mountainheart Community Servces Inc Oceana, WV | $5,735,709 | $13,660,570 |
West Ohio Community Action Partnership Lima, OH | $6,981,623 | $15,279,840 |
Community Action Program Commission Of The Lancaster-Fairfield County Lancaster, OH | $11,087,648 | $12,770,614 |
University City District Philadelphia, PA | $9,386,670 | $9,712,200 |