Preservation Freehold Company
- Assets
- $599.3m
- Revenue
- $99.7m
- Investments
- $0.0
- Employees
- 3,859
- Location
- Lewisville, TX
- Founding
- 02/2010
- Data as of
- 12/2021
- EIN
- 90-0475369
Organization Overview
Preservation Freehold Company is located in Lewisville, TX. The organization was established in 2010. 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. As of 12/2021, Preservation Freehold Company employed 3,859 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Preservation Freehold Company is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVATION FREEHOLD COMPANY IS A PUBLIC CHARITY ORGANIZED FOR THE PURPOSE OF RELIEVING THE DISTRESSED THROUGH THE PROVISION OF HOUSING DESIGNED SPECIFICALLY TO ACCOMMODATE AND ADDRESS CERTAIN PHYSICAL, SOCIAL, AND CIVIC NEEDS OF THE ELDERLY, WHILE PROMOTING THE CONTINUED DIGNITY AND WELL-BEING OF ITS RESIDENTS. THE CORPORATION IS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. WITHIN THE SCOPE OF THE FOREGOING PURPOSES, BUT NOT BY WAY OF LIMITATION THEREOF, THE CORPORATION SHALL CARRY OUT THESE PURPOSES PRIMARILY BY OWNING AND OPERATING, EITHER DIRECTLY OR THROUGH AFFILIATED ENTITIES, NONPROFIT HEALTH CARE FACILITIES AND SENIOR LIVING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVATION FREEHOLD COMPANY IS A PUBLIC CHARITY ORGANIZED FOR THE PURPOSE OF RELIEVING THE DISTRESSED THROUGH THE PROVISION OF HOUSING SPECIFICALLY TO ACCOMMODATE AND ADDRESS CERTAIN PHYSICAL, SOCIAL, AND DESIGNED SPECIFICALLY TO ACCOMMODATE AND ADDRESS CERTAIN PHYSICAL, SOCIAL, AND CIVIC NEEDS OF THE ELDERLY, WHILE PROMOTING THE CONTINUED RELIEVING THE DISTRESSED THROUGH THE PROVISION OF HOUSING DESIGNED CIVIC NEEDS OF THE ELDERLY, WHILE PROMOTING THE CONTINUED DIGNITY AND WELL-BEING OF ITS RESIDENTS. THE ORGANIZATION CARRIES OUT THESE PURPOSES BY OWNING AND OPERATING, EITHER DIRECTLY OR THROUGH AFFILIATED ENTITIES, NONPROFIT HEALTH CARE FACILITIES AND SENIOR LIVING COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Jameson Facility Employee | 52.58 | $147,045 | |
Judy Gettings Facility Employee | 61.76 | $131,398 | |
Leeann R Boone Facility Employee | 74.94 | $130,820 | |
Kellie R Whitefield Facility Employee | 53.71 | $121,228 | |
Vickie King Facility Employee | 47.06 | $118,133 | |
James Chance President/ceo | OfficerTrustee | 30 | $95,144 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Healthcare Services Group Laundry & Housekeeping Services | 12/30/21 | $568,478 |
Shiftkey Llc Nurse Staffing Service | 12/30/21 | $488,853 |
Rehab Pro Therapy Serivces | 12/30/21 | $4,238,150 |
Stonegate Senior Living Llc Management Company | 12/30/21 | $6,902,216 |
First Call Of Oklahoma City Nurse Staffing Service | 12/30/21 | $366,393 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,769,851 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,421 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,771,272 |
| Total Program Service Revenue | $92,723,245 |
| Investment income | $3,764 |
| 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 | $99,735,351 |
| 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. | $103,219 |
| Compensation of current officers, directors, key employees. | $103,219 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,238,185 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,930,464 |
| Payroll taxes | $3,476,793 |
| Fees for services: Management | $7,291,501 |
| Fees for services: Legal | $136,843 |
| Fees for services: Accounting | $388,799 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,659,306 |
| Advertising and promotion | $83,487 |
| Office expenses | $882,352 |
| Information technology | $780,883 |
| Royalties | $0 |
| Occupancy | $9,880,557 |
| Travel | $38,902 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,058 |
| Interest | $10,144,166 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,915,261 |
| Insurance | $2,450,552 |
| All other expenses | $403,042 |
| Total functional expenses | $103,097,020 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,937,628 |
| Savings and temporary cash investments | $65,725,882 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,634,553 |
| 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 | $1,862,022 |
| Net Land, buildings, and equipment | $483,167,320 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,018,530 |
| Total assets | $599,345,935 |
| Accounts payable and accrued expenses | $25,276,585 |
| Grants payable | $0 |
| Deferred revenue | $707,911 |
| 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 | $574,083,045 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,258,723 |
| Total liabilities | $606,326,264 |
| 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 | -$6,980,329 |
| Total liabilities and net assets/fund balances | $599,345,935 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Health Presbyterian Hospital Plano Plano, TX | $217,106,675 | $484,213,485 |
Preservation Freehold Company Lewisville, TX | $599,345,935 | $99,735,351 |
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 |