Preservation Housing Partners

Organization Overview

Preservation Housing Partners is located in Bloomfield Hills, MI. The organization was established in 2006. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Preservation Housing Partners employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Preservation Housing Partners 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, Preservation Housing Partners generated $2.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $3.1m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO CREATE AND PRESERVE AFFORDABLE HOUSING FOR VERY LOW THROUGH MODERATE INCOME TENANTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CORPORATION WAS FORMED ON OCTOBER 24, 2005 UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE PURPOSE OF THE CORPORATION IS TO CREATE AND PRESERVE AFFORDABLE HOUSING THROUGH THE INVESTMENT, CONSTRUCTION OR ACQUISITION AND REHABILITATION OF MULTIFAMILY RESIDENTIAL REAL ESTATE FOR VERY LOW, LOW, AND MODERATE INCOME TENANTS. IN ADDITION, THE CORPORATION INVESTED IN TWO AFFORDABLE HOUSING COMMUNITIES WHOSE PROPERTY ALSO QUALIFIED FOR HISTORIC REHABILITATION TAX CREDITS IN ACCORDANCE WITH SECTION 47 OF THE IRC.AS OF DECEMBER 31, 2022, THE CORPORATION HAS A 100% OWNERSHIP INTEREST IN SEVEN ENTITIES THAT OWN AND OPERATE AFFORDABLE HOUSING COMMUNITIES. FURTHER DETAILS ON ENTITIES OWNED: - PHP FOX HAVEN LLC ("FOX HAVEN") OWNS A 48 UNIT APARTMENT COMMUNITY LOCATED IN RALEIGH, NORTH CAROLINA OPERATING AS FOX HAVEN APARTMENTS.- PHP HERITAGE HOUSE LIMITED PARTNERSHIP ("HERITAGE HOUSE") OWNS AN 80 UNIT APARTMENT COMMUNITY LOCATED IN LEWISBURG, PENNSYLVANIA OPERATING AS HERITAGE HOUSE APARTMENTS.- PHP LEWIS VILLAGE LLC ("LEWIS VILLAGE") OWNS A 37 UNIT APARTMENT COMMUNITY LOCATED IN ELIZABETHTOWN, NORTH CAROLINA OPERATING AS LEWIS VILLAGE APARTMENTS.- PHP NORTHWOODS LLC ("NORTHWOODS") OWNS A 50 UNIT APARTMENT COMPLEX LOCATED IN BURGAW, NORTH CAROLINA OPERATING AS NORTHWOODS APARTMENTS.- PHP ST. ANDREW'S HOMES LLC ("ST. ANDREW'S") OWNS A 34 UNIT APARTMENT COMPLEX LOCATED IN CHARLOTTE, NORTH CAROLINA OPERATING AS ST. ANDREW'S HOMES APARTMENTS.- PHP WALNUT WOODS LLC ("WALNUT WOODS") OWNS A 36 UNIT APARTMENT COMPLEX LOCATED IN RALEIGH, NORTH CAROLINA OPERATING AS WALNUT WOODS APARTMENTS.- PHP SPRING BROOK MANOR LLC ("SPRING BROOK MANOR") OWNS A 30 UNIT APARTMENT COMPLEX LOCATED IN EATON RAPIDS, MICHIGAN OPERATING AS SPRING BROOK MANOR APARTMENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Robert S Diedrich
President
$359,000
Stephen Buffa
Vice President
$0
Michael Mulligan
Secretary
$0
Michael Jepsen
Director
$0
Daniel Angeli
Director
$0
Michael S Diedrich
Treasurer
$170,000

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,659,584
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$1,659,584
Total Program Service Revenue$1,146,112
Investment income $67,580
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$30,966
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,883,171

Peer Organizations

Organization NameAssets
Community Housing Network Inc
Columbus, OH
$11,087,662
Clawson Csi Non-Profit Housing Corporation
Warren, MI
$12,113,021
Ho-Chunk Housing And Community Development Agency
Tomah, WI
$11,996,129
Hudsonville Christian School
Hudsonville, MI
$9,683,644
Capital Area Housing Partnership
Lansing, MI
$10,161,679
Iccf Community Home
Grand Rapids, MI
$9,557,894
Over The Rhine Community Housing
Cincinnati, OH
$8,867,779
County Corp
Dayton, OH
$5,601,454
Dwelling Place Of Grand Rapids Nonprofit Housing Corporation
Grand Rapids, MI
$5,899,773
Ohio Region Senior Citizen Housing Corporation
Grove City, OH
$61,748
Creative Housing Inc
Columbus, OH
$3,450,970
Harbor House Ministries
Jenison, MI
$4,467,514
Lacasa Of Goshen Inc
Goshen, IN
$5,543,630
Communities First Inc
Flint, MI
$6,911,556
Regina Manor Apartments Inc
Toledo, OH
$7,363
Preservation Housing Partners
Bloomfield Hills, MI
$2,883,171
3700 Green Tree Corporation
Milwaukee, WI
$2,933,809
Community Reinvestment Foundation Inc
Plainfield, IN
$34,395
Csi Kalamazoo Non-Profit Housing Corporation
Warren, MI
$2,510,554
Alpha Building Foundation Corporation
Akron, OH
$2,395,949
Lovejoy Special Needs Center Corporation
Livonia, MI
$2,483,089
Oak Non Profit Apartments Inc
Warren, MI
$2,665,495
Southgate Non-Profit Housing Corporation
Warren, MI
$2,289,834
Housing Ventures Inc
Columbus, OH
$1,206,144
Housing And Economic Concepts Inc
Indianapolis, IN
$1,907,123

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