PRESERVATION NON-PROFIT HOUSING CORPORATION

EIN: 382822223 501(c)(3) Housing & Shelter

LANSING, MI

Total Revenue
$122,806
Total Expenses
$1,929,551
Total Assets
$5,216,532
Net Assets
$4,538,851
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
MI
Principal Officer
BRETT OUMEDIAN
Phone
5174828555
Tax Period
2023-01-01 to 2023-12-31

PRESERVATION NON-PROFIT HOUSING CORPORATION, founded in 1988, is a small nonprofit in the Housing & Shelter sector that reported $123K in total revenue in fiscal year 2023. Revenue fell 86% from the prior year — a significant decline worth monitoring. Expenses of $1.9M exceeded revenue, resulting in a 1471% operating deficit.

Mission

THE ORGANIZATION'S MISSION IS TO COMBAT COMMUNITY DETERIORATION, ELIMINATE SLUM AND BLIGHT, STIMULATE COMMUNITY REVITALIZATION, ENCOURAGE ECONOMIC DEVELOPMENT THAT BENEFITS DISADVANTAGED PERSONS AND DISTRESSED AREAS, AND TO ENGAGE WITH PARTNERS TO ENHANCE OUR ECONOMIC AND CULTURAL FUTURE THROUGH THE PRESERVATION OF HISTORIC BUILDINGS AS A POSITIVE FORCE FOR ECONOMIC DEVELOPMENT.

Program Service Accomplishments

Program 1
Expenses: $1,916,825 Revenue: $101,383

THE ORGANIZATION WHOLLY OWNS CINNAIRE PRESERVATION & REHABILITATION, LLC WHICH OWNS AN INTEREST IN A NUMBER OF MICHIGAN BROWNFIELD TAX CREDITS THAT ARE BEING MONETIZED BY THE STATE OF MICHIGAN WHICH...

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THE ORGANIZATION WHOLLY OWNS CINNAIRE PRESERVATION & REHABILITATION, LLC WHICH OWNS AN INTEREST IN A NUMBER OF MICHIGAN BROWNFIELD TAX CREDITS THAT ARE BEING MONETIZED BY THE STATE OF MICHIGAN WHICH HELPS STIMULATE COMMUNITY REVITALIZATION AND ENCOURAGE ECONOMIC DEVELOPMENT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $101,383
Investment Income $21,423
Other Revenue $0
TOTAL REVENUE $122,806

Expense Breakdown

Grants Paid $250,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,916,825
Other Expenses $1,679,551
TOTAL EXPENSES $1,929,551

Year-over-Year Comparison

2023 2022 Change
Revenue $122,806 $906,482 -0.9%
Expenses $1,929,551 $1,690,358 +0.1%
Net Income $-1,806,745 $-783,876 +1.3%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
4
Independent Members
N/A
Employees
N/A
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$1,756,138
Total Directors
5
$1,756,138
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DEB TOBY SECRETARY/TREASURER/DIRECTOR 1.00
Officer Director
$0 $32,221 $556,475
KEITH BROADNAX VICE-CHAIR/VICE-PRESIDENT 1.00
Officer Director
$0 $33,376 $280,872
LORA BRANTLEY-GILBERT CHAIR/VICE-PRESIDENT (PAST PRESIDENT) 1.00
Officer Director
$0 $25,938 $170,216
MIKE WITT PRESIDENT 1.00
Officer Director
$0 $36,474 $293,848
LUCIUS VASSAR ASSISTANT SECRETARY 1.00
Officer Director
$0 $42,377 $454,727
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $122,806 $1,929,551 $5,216,532 $-1,806,745
2022 $906,482 $1,690,358 $6,345,597 $-783,876
2021 $1,731,142 $457,048 $7,291,616 $1,274,094
2020 $409,930 $6,758,189 $5,859,230 $-6,348,259
2019 $442,297 $8,199,354 $14,265,233 $-7,757,057
2018 $265,454 $1,119,725 $20,674,924 $-854,271
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