Prh Preservation Inc
- Assets
- $2.9m
- Revenue
- $128.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 08/2019
- Data as of
- 08/2021
- EIN
- 82-4106196
Organization Overview
Prh Preservation Inc is located in Houston, TX. The organization was established in 2019. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Prh 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 08/2021, Prh Preservation Inc generated $128.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (20.9%) each year. All expenses for the organization totaled $189.6k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (11.1%) per year over the past 3 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
MAINTAINS BUILDINGS IN HOUSTON'S THIRD WARD TO ENSURE LONG-TERM, SAFE AND AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OPRH PRESERVATION PURCHASES EXISTING SINGLE-FAMILY HOMES IN THE AREA, RENOVATE THEM AND RENTS THEM TO LOW-INCOME INDIVIDUALS AT SUBSIDIZED, BELOW-MARKET RATES. IN ADDITION, PRH PRESERVATION WILL DEVELOP NEW AFFORDABLE HOUSING FOR THIRD WARD RESIDENTS.ON FEBRUARY 5, 2018, PROJECT ROW HOUSES ("PRH") CONVEYED TO PRH PRESERVATION ONE BLOCK OF LAND IN HOUSTON'S THIRD WARD. PRH HAD ACQUIRED THE WEBSTER BLOCK WITH FUNDING FROM THE KINDER FOUNDATION. THE WEBSTER BLOCK IS SOUTH OF BUFFALO BAYOU, SURROUNDED BY WEBSTER AVENUE, NAGEL STREET, HADLEY STREET, AND LIVE OAK STREET.THE WEBSTER BLOCK ALSO CONTAINS VACANT LAND, AND PRH PRESERVATION INTENDS TO ADD APPROXIMATELY TEN NEW SHOTGUN-STYLE HOMES, OFF-STREET PARKING, A SHARED OUTDOOR ACTIVITY AREA, AND LANDSCAPE IMPROVEMENTS. THE RENOVATION AND REDEVELOPMENT OF THE WEBSTER BLOCK WILL SERVE AS A MODEL FOR FUTURE RENOVATION AND REDEVELOPMENT IN THE THIRD WARD, BOTH BY PRH PRESERVATION AND OTHER AREA ORGANIZATIONS. PRH PRESERVATION INTENDS TO RENOVATE AND CONSTRUCT ADDITIONAL SHOTGUN-STYLE HOUSES TO BE BUILT IN PLANNED CLUSTERS SIMILAR TO THE WEBSTER BLOCK. UPON RENOVATION AND CONSTRUCTION, PRH PRESERVATION WILL LEASE THESE HOMES TO LOW OR MODERATE-INCOME RESIDENTS AT BELOW-MARKET RATES AND OPERATE SUCH PROPERTIES AS THE WEBSTER BLOCK HOMES. IT IS ANTICIPATED THAT ALL HOMES OWNED BY PRH PRESERVATION WILL OPERATE BELOW BREAK-EVEN, LIKE THE WEBSTER BLOCK HOUSES, AND WILL BE SUBSIDIZED BY CHARITABLE CONTRIBUTIONS.
SEE SCHEDULE OPRH PRESERVATION PURCHASES EXISTING SINGLE-FAMILY HOMES IN THE AREA, RENOVATE THEM AND RENTS THEM TO LOW-INCOME INDIVIDUALS AT SUBSIDIZED, BELOW-MARKET RATES. IN ADDITION, PRH PRESERVATION WILL DEVELOP NEW AFFORDABLE HOUSING FOR THIRD WARD RESIDENTS.ON FEBRUARY 5, 2018, PROJECT ROW HOUSES ("PRH") CONVEYED TO PRH PRESERVATION ONE BLOCK OF LAND IN HOUSTON'S THIRD WARD. PRH HAD ACQUIRED THE WEBSTER BLOCK WITH FUNDING FROM THE KINDER FOUNDATION. THE WEBSTER BLOCK IS SOUTH OF BUFFALO BAYOU, SURROUNDED BY WEBSTER AVENUE, NAGEL STREET, HADLEY STREET, AND LIVE OAK STREET.THE WEBSTER BLOCK ALSO CONTAINS VACANT LAND, AND PRH PRESERVATION INTENDS TO ADD APPROXIMATELY TEN NEW SHOTGUN-STYLE HOMES, OFF-STREET PARKING, A SHARED OUTDOOR ACTIVITY AREA, AND LANDSCAPE IMPROVEMENTS. THE RENOVATION AND REDEVELOPMENT OF THE WEBSTER BLOCK WILL SERVE AS A MODEL FOR FUTURE RENOVATION AND REDEVELOPMENT IN THE THIRD WARD, BOTH BY PRH PRESERVATION AND OTHER AREA ORGANIZATIONS. PRH PRESERVATION INTENDS TO RENOVATE AND CONSTRUCT ADDITIONAL SHOTGUN-STYLE HOUSES TO BE BUILT IN PLANNED CLUSTERS SIMILAR TO THE WEBSTER BLOCK. UPON RENOVATION AND CONSTRUCTION, PRH PRESERVATION WILL LEASE THESE HOMES TO LOW OR MODERATE-INCOME RESIDENTS AT BELOW-MARKET RATES AND OPERATE SUCH PROPERTIES AS THE WEBSTER BLOCK HOMES. IT IS ANTICIPATED THAT ALL HOMES OWNED BY PRH PRESERVATION WILL OPERATE BELOW BREAK-EVEN, LIKE THE WEBSTER BLOCK HOUSES, AND WILL BE SUBSIDIZED BY CHARITABLE CONTRIBUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James V Derrick Jr Secretary | OfficerTrustee | 1 | $0 |
Aarti Garehgrat Treasurer | OfficerTrustee | 1 | $0 |
C Hastings Johnson President | OfficerTrustee | 1 | $0 |
Eureka N Gilkey Executive Dir. | OfficerTrustee | 15 | $0 |
Rick Lowe Chairman | OfficerTrustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $128,253 |
| Investment income | $0 |
| 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 | $128,253 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,280 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,448 |
| Advertising and promotion | $0 |
| Office expenses | $1,675 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,824 |
| Travel | $210 |
| 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 | $21,570 |
| Insurance | $21,719 |
| All other expenses | $0 |
| Total functional expenses | $189,594 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $782,674 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,556 |
| 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 | $4,749 |
| Net Land, buildings, and equipment | $2,050,424 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,750 |
| Total assets | $2,867,153 |
| Accounts payable and accrued expenses | $3,610 |
| Grants payable | $0 |
| Deferred revenue | $8,145 |
| 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 | $6,110 |
| Total liabilities | $17,865 |
| Net assets without donor restrictions | $2,849,288 |
| 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 | $2,867,153 |
Grants Awarded
Over the last fiscal year, Prh Preservation Inc has awarded $60,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Houston, TX PURPOSE: Neighborhood Development Project Manager | $15,000 |
Houston, TX PURPOSE: General support | $15,000 |
Houston, TX PURPOSE: Neighborhood Development Project Manager | $15,000 |
Houston, TX PURPOSE: General support | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Prh Preservation Inc has recieved totaling $2,000,647.
| Awarding Organization | Amount |
|---|---|
Project Row Houses Houston, TX PURPOSE: Program support | $2,000,647 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Health Presbyterian Hospital Kaufman Kaufman, TX | $17,114,303 | $46,511,695 |
Crossroads Housing Development Corporation Big Spring, TX | $1,430,723 | $31,698,100 |
Foundation Communities Inc Austin, TX | $201,792,213 | $44,085,347 |
Austin Affordable Housing Corporation Austin, TX | $189,492,836 | $40,972,198 |
Foundation Communities Austin, TX | $78,215,940 | $25,689,954 |
Tcc Hill Country Development Corporation Austin, TX | $11,234,408 | $22,073,361 |
Provident Commonwealth Education Resources Baton Rouge, LA | $142,254,594 | $7,390,935 |
Provident Commonwealth Education Resources Ii Baton Rouge, LA | $154,926,817 | $6,407,611 |
Houston Habitat For Humanity Inc Houston, TX | $36,979,256 | $11,315,347 |
Avenue Community Development Coporation Houston, TX | $81,189,118 | $11,542,239 |
Habitat For Humanity International Inc Fort Worth, TX | $28,701,953 | $17,323,879 |
Habitat For Humanity Of San Antonio Inc San Antonio, TX | $33,828,773 | $14,274,594 |