Housing Preservation Inc
- Assets
- $38.2m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 19
- Location
- Memphis, TN
- Founding
- 02/2004
- Data as of
- 12/2022
- EIN
- 56-2409519
Organization Overview
Housing Preservation Inc is located in Memphis, TN. The organization was established in 2004. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2022, Housing Preservation Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Preservation 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 12/2022, Housing Preservation Inc generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (15.0%) each year. All expenses for the organization totaled $6.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Housing Preservation Inc has awarded 42 individual grants totaling $10,304,829. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE RESIDENTIAL RENTAL UNITS TO LOW INCOME INDIVIDUALS AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING PRESERVATION, INC. PROVIDED AFFORDABLE RESIDENTIAL RENTAL UNITS TO LOW INCOME INDIVIDUALS AND FAMILIES WHO QUALIFY FOR HOUSING SUBSIDIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert F Cook Director | Trustee | 5 | $3,000 |
Joshua Hammond Director | Trustee | 5 | $3,000 |
Mark Segal Director | Trustee | 5 | $3,000 |
Patrick Shea Director | Trustee | 5 | $3,000 |
Lawson Stringer Director | Trustee | 5 | $0 |
Eleanor White President | Officer | 5 | $26,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Direct Energy Business Gas | 12/30/19 | $102,324 |
Silver Tree Residential Management And Bookkeeping | 12/30/19 | $249,692 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,600,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,600,000 |
| Total Program Service Revenue | $1,098,825 |
| Investment income | $605,072 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$401,468 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,945,693 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,802,779 |
| 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. | $382,988 |
| Compensation of current officers, directors, key employees. | $108,457 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $766,169 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,244 |
| Payroll taxes | $103,151 |
| Fees for services: Management | $73,538 |
| Fees for services: Legal | -$61,140 |
| Fees for services: Accounting | $26,835 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,152 |
| Fees for services: Other | $0 |
| Advertising and promotion | $65,446 |
| Office expenses | $135,851 |
| Information technology | $29,472 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $87,053 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,107 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $172,919 |
| Insurance | $78,402 |
| All other expenses | $124,505 |
| Total functional expenses | $6,487,511 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,184,877 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,899,438 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $513,965 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $32,239 |
| Net Land, buildings, and equipment | $12,223,784 |
| Investments—publicly traded securities | $371,598 |
| Investments—other securities | $0 |
| Investments—program-related | $16,374,320 |
| Intangible assets | $146,392 |
| Other assets | $419,902 |
| Total assets | $38,166,515 |
| Accounts payable and accrued expenses | $219,721 |
| Grants payable | $0 |
| Deferred revenue | $9,340 |
| 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 | $9,645,607 |
| Unsecured mortgages and notes payable | -$2,111 |
| Other liabilities | $76,720 |
| Total liabilities | $9,949,277 |
| Net assets without donor restrictions | $0 |
| 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 | $28,217,238 |
| Total liabilities and net assets/fund balances | $38,166,515 |
Grants Awarded
Over the last fiscal year, Housing Preservation Inc has awarded $3,779,779 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
PRESBYTERIAN DAY SCHOOL PURPOSE: DONATION - GENERAL OPERATING | $80,000 |
UNIVERSITY OF TENNESSEE PURPOSE: DONATION - GENERAL OPERATING | $30,000 |
HOSPITALITY HUB OF MEMPHIS PURPOSE: DONATION - GENERAL OPERATING | $200,000 |
VICTIMS OF ILLICIT DRUGS INC PURPOSE: DONATION - GENERAL OPERATING | $10,000 |
AMERICAN GI FORUM NATIONAL VETERANS OUTREACH PROGRAM INC PURPOSE: DONATION - GENERAL OPERATING | $3,419,779 |
CREATIVE AGING MEMPHIS PURPOSE: DONATION - GENERAL OPERATING | $10,000 |