Preservation Housing Trust
- Assets
- $4.6m
- Revenue
- $966.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Saint Paul, MN
- Founding
- 01/2016
- Data as of
- 12/2021
- EIN
- 47-3111962
Organization Overview
Preservation Housing Trust is located in Saint Paul, MN. The organization was established in 2016. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Preservation Housing Trust 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 12/2021, Preservation Housing Trust generated $966.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.1%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. 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
TO CREATE AND BUILD, ACQUIRE, PRESERVE AND REHABILITATE AFFORDABLE HOUSING THAT PROMOTES WELLNESS AND STABILITY FOR FAMILIES, SENIORS, AND THE CHALLENGED, WHILE INSTILLING RESPECT FOR RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CREATE AND BUILD, ACQUIRE, PRESERVE AND REHABILITATE AFFORDABLE HOUSING THAT PROMOTES WELLNESS AND STABILITY FOR FAMILIES, SENIORS, AND THE CHALLENGED, UNDER SECTION 221(D)(4) PURSUANT TO SECTION 223(A)(7) OF THE NATIONAL HOUSING ACT, AS WELL AS RECEIVING HOUSING ASSISTANCE PAYMENTS TO HELP RESIDENTS ON A PORTION OF THE UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stan Quy Vice Chair | OfficerTrustee | 1 | $0 |
Shawn Huckelby Board Chair | OfficerTrustee | 1 | $0 |
Richard Hutsell Secretary/treasurer | OfficerTrustee | 1 | $0 |
Loren Bruggemann Board Member | Trustee | 1 | $0 |
Hans Hage Board Member | Trustee | 1 | $0 |
Carol Bower Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $30 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30 |
| Total Program Service Revenue | $965,809 |
| Investment income | $210 |
| 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 | $966,049 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $187,211 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,563 |
| Fees for services: Management | $104,343 |
| Fees for services: Legal | $3,998 |
| Fees for services: Accounting | $26,580 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $39,830 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $228,050 |
| Insurance | $61,030 |
| All other expenses | $58 |
| Total functional expenses | $1,124,255 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,892 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,354 |
| 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 | $3,903 |
| Net Land, buildings, and equipment | $3,802,602 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $762,815 |
| Total assets | $4,620,566 |
| Accounts payable and accrued expenses | $355,048 |
| Grants payable | $0 |
| Deferred revenue | $18,264 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $59,066 |
| Secured mortgages and notes payable | $1,972,028 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,983 |
| Total liabilities | $2,439,389 |
| Net assets without donor restrictions | $2,181,177 |
| Net assets with donor restrictions | $0 |
| 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 | $4,620,566 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minnesota Odd Fellows Home Inc Northfield, MN | $22,867,310 | $19,456,798 |
Oakwood Village Prairie Ridge Homes Inc Madison, WI | $61,014,266 | $15,535,778 |
Volunteers Of America Inc Eden Prairie, MN | $8,598,450 | $19,135,120 |
Friends Of Faith Retirement Homes Inc Waterloo, IA | $88,184,689 | $24,765,907 |
Bethany On 42nd Fargo, ND | $42,982,371 | $19,570,716 |
Phs Cottage Grove Inc Roseville, MN | $59,058,430 | $15,462,606 |
Evans Park Inc Elk River, MN | $42,762,027 | $16,308,522 |
Volunteers Of America Inc Eden Prairie, MN | $2,912,114 | $17,645,281 |
Carondelet Village Inc Roseville, MN | $51,351,409 | $15,659,631 |
Cedar Lake Village Inc Sioux Falls, SD | $38,142,658 | $12,975,916 |
Walker Senior Services Inc Minnetonka, MN | $9,398,482 | $5,933,474 |
Living Community Of St Joseph Minneapolis, MN | $23,852,740 | $12,020,800 |