PRESERVATION FREEHOLD COMPANY (EIN 900475369) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2009

Legal Domicile

Principal Officer

JAMES M CHANCE

Phone

2147252837

Tax Period

2023-01-01 to 2023-12-31

PRESERVATION FREEHOLD COMPANY, founded in 2009, is a major nonprofit in the Housing & Shelter sector that reported $205.5M in total revenue in fiscal year 2023.

Mission

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.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,632,936

Program Service Revenue $197,430,832

Investment Income $3,100,487

Other Revenue $320,545

TOTAL REVENUE $205,484,800

Expense Breakdown

Grants Paid $0

Salaries & Benefits $110,530,831

Fundraising Expenses $0

Program Expenses $195,543,259

Other Expenses $108,052,278

TOTAL EXPENSES $218,583,109

Year-over-Year Comparison

	2023	2022	Change
Revenue	$205,484,800	$209,012,995	0.0%
Expenses	$218,583,109	$222,825,249	0.0%
Net Income	$-13,098,309	$-13,812,254	-0.1%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

5756

Volunteers

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

$177,863

Total Directors

$177,863

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES CHANCE	PRESIDENT & CEO	40.00	Officer Director	$160,221	$17,642	$177,863
THOMAS E LANGDON	SECRETARY AND TREASURER	1.00	Officer Director	$0	$0	$0
DANA ARNETTE	BOARD MEMBER	1.00	Director	$0	$0	$0
DARREL MCGEHEE	BOARD MEMBER	1.00	Director	$0	$0	$0
GIBSON VERNON	FACILITY EMPLOYEE	40.00	Highest	$232,740	$25,480	$258,220
LEE SUDBECK	FACILITY EMPLOYEE	40.00	Highest	$225,417	$37,080	$262,497
EDWARD FOSAM	FACILITY EMPLOYEE	69.89	Highest	$214,687	$0	$214,687
JAMES NYANGOYA	FACILITY EMPLOYEE	86.63	Highest	$191,282	$0	$191,282
SELINA MENSAH	FACILITY EMPLOYEE	74.50	Highest	$188,353	$0	$188,353

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	$205,484,800	$218,583,109	$566,365,962	$-13,098,309
2022	$209,012,995	$222,825,249	$583,423,899	$-13,812,254
2021	$99,735,351	$103,097,020	$599,345,935	$-3,361,669
2020	$9,041,982	$9,939,404	$5,490,833	$-897,422
2020	$11,706,521	$12,819,744	$35,490,463	$-1,113,223
2019	$2,648,072	$3,043,446	$30,136,896	$-395,374
2018	$-82,091	No data	$-279,203	No data

PRESERVATION FREEHOLD COMPANY