Civic Intelligence

Preferred Properties Inc.

990 • Fiscal year 2018 • EIN 34-1715222

Jul 01, 2017 to Jun 30, 2018 • Filed on Feb 13, 2019

Organization ProfileWWW.PREFERRED-PROPERTIES.ORG

View Organization Page

5555 Airport Highway No 145Toledo, OH 43615

(419) 244-9609

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

17th percentile

0.01x

Higher debt load relative to assets than 17% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

22nd percentile

0.05x

Higher debt load relative to revenue than 22% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

77th percentile

20%

Higher net margin than 77% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

33rd percentile

$86,346

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 5.2% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

57th percentile

3.6%

Faster asset growth than 57% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

82nd percentile

29%

Faster revenue growth than 82% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$8,955,237

Up $314,710 (+3.6%) from 2017

Net Assets

Up

$8,877,815

Up $326,996 (+3.8%) from 2017

Liabilities

Down

$77,422

Down $12,286 (-14%) from 2017

Revenue And Expenses
Liabilities / Revenue22nd percentileNet Margin77th percentile

Revenue

Up

$1,657,100

Up $369,301 (+29%) from 2017

Expenses

Up

$1,330,104

Up $11,121 (+0.8%) from 2017

Net Income

Up

$326,996

Up $358,180 (+1149%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2010: $6,437,407Liabilities 2010: $394,583Net Assets 2010: $6,042,8242010Assets 2011: $7,261,426Liabilities 2011: $282,291Net Assets 2011: $6,979,1352011Assets 2012: $8,476,055Liabilities 2012: $224,069Net Assets 2012: $8,251,9862012Assets 2013: $8,598,394Liabilities 2013: $180,020Net Assets 2013: $8,418,3742013Assets 2014: $8,793,122Liabilities 2014: $72,820Net Assets 2014: $8,720,3022014Assets 2015: $8,569,850Liabilities 2015: $63,921Net Assets 2015: $8,505,9292015Assets 2016: $8,711,918Liabilities 2016: $79,578Net Assets 2016: $8,632,3402016Assets 2017: $8,640,527Liabilities 2017: $89,708Net Assets 2017: $8,550,8192017Assets 2018: $8,955,237Liabilities 2018: $77,422Net Assets 2018: $8,877,8152018Assets 2019: $7,112,119Liabilities 2019: $85,388Net Assets 2019: $7,026,7312019Assets 2020: $7,171,001Liabilities 2020: $96,896Net Assets 2020: $7,074,1052020Assets 2021: $7,535,694Liabilities 2021: $336,049Net Assets 2021: $7,199,6452021Assets 2022: $7,733,847Liabilities 2022: $403,131Net Assets 2022: $7,330,7162022Assets 2023: $7,781,545Liabilities 2023: $455,134Net Assets 2023: $7,326,4112023Assets 2024: $7,685,101Liabilities 2024: $469,019Net Assets 2024: $7,216,0822024

Highlighted filing

2018

Assets$8,955,237
Liabilities$77,422
Net Assets$8,877,815
Open 2018 Filing

Operations Trend

Revenue Growth82nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $2,030,1402010Expenses 2011: $1,325,6862011Expenses 2012: $1,331,0532012Expenses 2013: $1,393,9932013Revenue 2014: $1,759,197Expenses 2014: $1,457,269Net Income 2014: $301,9282014Revenue 2015: $1,894,869Expenses 2015: $2,109,242Net Income 2015: -$214,3732015Revenue 2016: $1,385,398Expenses 2016: $1,258,987Net Income 2016: $126,4112016Revenue 2017: $1,287,799Expenses 2017: $1,318,983Net Income 2017: -$31,1842017Revenue 2018: $1,657,100Expenses 2018: $1,330,104Net Income 2018: $326,9962018Revenue 2019: $1,587,869Expenses 2019: $2,157,708Net Income 2019: -$569,8392019Revenue 2020: $1,329,801Expenses 2020: $1,282,427Net Income 2020: $47,3742020Revenue 2021: $1,351,987Expenses 2021: $1,226,447Net Income 2021: $125,5402021Revenue 2022: $1,320,983Expenses 2022: $1,189,912Net Income 2022: $131,0712022Revenue 2023: $1,180,774Expenses 2023: $1,185,079Net Income 2023: -$4,3052023Revenue 2024: $1,175,700Expenses 2024: $1,286,029Net Income 2024: -$110,3292024

Highlighted filing

2018

Revenue$1,657,100
Expenses$1,330,104
Net Income$326,996
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Feb 13, 2019
Return Version
2017v2.3
Gross Receipts
$1,657,100
Mission and Program Overview

Mission

The mission of preferred properties is to create and manage affordable and accessible housing for persons with disabilities, seniors, and others in need that will facilitate their choice of community.

Providing affordable and accessible housing for persons with disabilities and others in need

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$5,557,056$5,788,097▲ $231,041
Land, Buildings, and Equipment, Net$2,393,474$2,539,937▲ $146,463
Savings and Temporary Cash Investments$517,577$244,706▼ $272,871
Pledges and Grants Receivable$8,500$200,000▲ $191,500
Accounts Receivable$124,906$125,778▲ $872
Cash and Non-Interest-Bearing Accounts$31,859$47,984▲ $16,125
Prepaid Expenses and Deferred Charges-$1,409-
Total Assets$8,640,527$8,955,237▲ $314,710
Other Assets Total$7,155$7,326▲ $171
Liabilities
Accounts Payable and Accrued Expenses$62,190$52,678▼ $9,512
Other Liabilities$24,293$24,744▲ $451
Escrow Account Liability$3,225$0▼ $3,225
Total Liabilities$89,708$77,422▼ $12,286
Net Assets / Fund Balance
Temporarily Rstr Net Assets$4,292,473$4,452,421▲ $159,948
Unrestricted Net Assets$4,158,346$4,325,394▲ $167,048
Permanently Rstr Net Assets$100,000$100,000→ $0
Total Net Assets Fund Balance$8,550,819$8,877,815▲ $326,996
Total Liabilities and Net Assets / Fund Balance$8,640,527$8,955,237▲ $314,710

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,917,013$2,902,738$4,819,751
Land$598,047-$598,047
Equipment$24,376$123,601$147,977
Other Land Buildings$501$54,102$54,603
Investment Program Related Org$5,788,097--
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kendra SmithExecutive DirectorPT$66,890$19,456$86,346

Board Members and Trustees

NameTitle
John NolanChair
Julia BryantVice Chairman
Lawrence MooreOutgoing Trustee
Abel Herrera JrTrustee
Glenda HudsonTrustee
Tamara WittkofskeTrustee
Veronica RossSecretary
Connie FarellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$683,201
Program Service Revenue
$728,469
Investment Income
$231,883
Other Revenue
$13,547
All Other Contributions
$29,489
Change in Net Assets
$326,996

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table71$28,163Fair Market Value (FMV)
Total Noncash Contributions71$28,163-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,657,100
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,657,100
Total Revenue per Form 990
$1,657,100
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$801,190
Other Expenses$528,914
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$407,167$50,227-$457,394
Occupancy$235,096$2,338-$237,434
Other Employee Benefits$161,552$26,231-$187,783
Depreciation Depletion$169,249$147-$169,396
Current Officers, Directors, Trustees, and Key Employees$53,384$35,589-$88,973
Payroll Taxes$41,095$7,252-$48,347
Fees for Services Accounting-$18,747-$18,747
Pension Plan Contributions$15,889$2,804-$18,693
Office Expenses$12,047$811-$12,858
All Other Expenses$10,344$1,407-$11,751
Travel$11,200$158-$11,358
Fees for Services Other$7,920$880-$8,800
Insurance-$3,550-$3,550
Other Expenses$1,704$268-$1,972
Advertising$294$53-$347
Conferences and Meetings$217$38-$255
Fees for Services Legal$203$23-$226
Total Functional Expenses$1,139,581$190,523$0$1,330,104

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,330,104
Total Expenses per Audited Statements$1,330,104
Total Expenses per Form 990$1,330,104
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits$24,744
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“The organization does not have committees of the governing body with authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“Preferred properties, inc. Provided the governing body with a copy of the organization's form 990 for review and comments before filing.”

Form 990, Part VI, Section B, Line 12C

“Preferred properties, inc. Regularly and consistently monitors and enforces compliance with its conflict of interest policy.”

Form 990, Part VI, Section B, Line 15A

“Preferred properties, inc. Board reviews and approves compensation for the executive director. The executive director reviews and approves compensation for all other officers and key employees. On an annual basis, comparability data and contemporaneous substantiation are used in the decision process.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Preferred Properties Inc
EIN
34-1715222
Phone
4192449609
Address
5555 AIRPORT HIGHWAY NO 145, TOLEDO, OH 43615

Signing Officer

Name
Cheryl Wilson
Title
Executive Director
Phone
4192449609
Signed
2019-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cheryl Wilson
Formed
1992
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
7
Employees
12
Volunteers
8

Preparer

Firm
Gilmore Jasion Mahler Ltd
Address
1715 INDIAN WOOD CIRCLE STE 100, MAUMEE, OH 43537
Preparer
Alex Spieker
Phone
4197942000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“There has been no change to the oversight process or selection process during the tax year.”

Financial Statement Notes

PART IV, LINE 2B:

“Preferred properties, inc. Is an agent for funds given by the city of toledo to autumn wood ii.”

PART X, LINE 2:

“Management of the organization is required to determine whether a tax position of the organization is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Management of the organization is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. However, management's conclusions may be subject to review and adjustment at a later date based on factors including, but not limited to, new tax laws, regulations, and administrative interpretations (including relevant court decisions). The organization's federal tax returns for the prior three fiscal years remain subject to examination by the internal revenue service.”

Raw XML AppendixShowing 400 of 714 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE MISSION OF PREFERRED PROPERTIES IS TO CREATE AND MANAGE AFFORDABLE AND ACCESSIBLE HOUSING FOR PERSONS WITH DISABILITIES, SENIORS, AND OTHERS IN NEED THAT WILL FACILITATE THEIR CHOICE OF COMMUNITY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt08550819
IRS990/NetAssetsOrFundBalancesEOYAmt08877815
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoncashContributionsAmt028163
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt02338
IRS990/OccupancyGrp/ProgramServicesAmt0235096
IRS990/OccupancyGrp/TotalAmt0237434
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0811
IRS990/OfficeExpensesGrp/ProgramServicesAmt012047
IRS990/OfficeExpensesGrp/TotalAmt012858
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt07155
IRS990/OtherAssetsTotalGrp/EOYAmt07326
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt026231
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0161552
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0187783
IRS990/OtherExpensesGrp/Desc0BAD DEBT
IRS990/OtherExpensesGrp/Desc1DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt040000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1268
IRS990/OtherExpensesGrp/ProgramServicesAmt012220
IRS990/OtherExpensesGrp/ProgramServicesAmt11704
IRS990/OtherExpensesGrp/TotalAmt040000
IRS990/OtherExpensesGrp/TotalAmt112220
IRS990/OtherExpensesGrp/TotalAmt21972
IRS990/OtherLiabilitiesGrp/BOYAmt024293
IRS990/OtherLiabilitiesGrp/EOYAmt024744
IRS990/OtherRevenueMiscGrp/BusinessCd0531390
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS TENANT R
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt013547
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt013547
IRS990/OtherRevenueTotalAmt013547
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt050227
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0407167
IRS990/OtherSalariesAndWagesGrp/TotalAmt0457394
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07252
IRS990/PayrollTaxesGrp/ProgramServicesAmt041095
IRS990/PayrollTaxesGrp/TotalAmt048347
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt02804
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt015889
IRS990/PensionPlanContributionsGrp/TotalAmt018693
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0100000
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0100000
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt08500
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0200000
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01409
IRS990/PrincipalOfficerNm0CHERYL WILSON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531310
IRS990/ProgramServiceRevenueGrp/BusinessCd2541610
IRS990/ProgramServiceRevenueGrp/BusinessCd3541610
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1MANAGEMENT FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc2DEVELOPMENT FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc3CONSULTING FEE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0348665
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1311204
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt255000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt313600
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0348665
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1311204
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt255000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt313600
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0409656
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0224016
IRS990/PYOtherExpensesAmt0580852
IRS990/PYOtherRevenueAmt010080
IRS990/PYProgramServiceRevenueAmt0644047
IRS990/PYRevenuesLessExpensesAmt0-31184
IRS990/PYSalariesCompEmpBnftPaidAmt0738131
IRS990/PYTotalExpensesAmt01318983
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01287799
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0326996
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt0973057
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0517577
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0244706
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0TENANT REV MISC INC - 2013 AMOUNT: $ 8,021. 2014 AMOUNT: $ 8,105. 2015 AMOUNT: $ 4,091. 2016 AMOUNT: $ 10,080. 2017 AMOUNT: $ 13,407.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0683201
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0409656
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0435837
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0910898
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0872537
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03312129
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0231883
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0221557
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0211966
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0203551
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0195739
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01064696
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt03549390
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt013407
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt010080
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt04091
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt08105
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt08021
IRS990ScheduleA/OtherIncome170Grp/TotalAmt043704
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.74930
IRS990ScheduleA/PublicSupportPY170Pct00.75360
IRS990ScheduleA/PublicSupportTotal170Amt03312129
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0683201
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0409656
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0435837
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0910898
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0872537
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03312129
IRS990ScheduleA/TotalSupportAmt04420529
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01917013
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02902738
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04819751
IRS990ScheduleD/EquipmentGrp/BookValueAmt024376
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0123601
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0147977
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01330104
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt05788097
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS - PROGRAM RELATED
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt0598047
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0598047
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0501
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt054102
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt054603
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt024744
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01657100
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PREFERRED PROPERTIES, INC. IS AN AGENT FOR FUNDS GIVEN BY THE CITY OF TOLEDO TO AUTUMN WOOD II.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT OF THE ORGANIZATION IS REQUIRED TO DETERMINE WHETHER A TAX POSITION OF THE ORGANIZATION IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITY, INCLUDING RESOLUTION OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT OF THE ORGANIZATION IS NOT AWARE OF ANY TAX POSITIONS FOR WHICH IT IS REASONABLY POSSIBLE THAT THE TOTAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL SIGNIFICANTLY CHANGE IN THE NEXT TWELVE MONTHS. HOWEVER, MANAGEMENT'S CONCLUSIONS MAY BE SUBJECT TO REVIEW AND ADJUSTMENT AT A LATER DATE BASED ON FACTORS INCLUDING, BUT NOT LIMITED TO, NEW TAX LAWS, REGULATIONS, AND ADMINISTRATIVE INTERPRETATIONS (INCLUDING RELEVANT COURT DECISIONS). THE ORGANIZATION'S FEDERAL TAX RETURNS FOR THE PRIOR THREE FISCAL YEARS REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02539937
IRS990ScheduleD/TotalBookValueProgramRltdAmt05788097
IRS990ScheduleD/TotalExpensesPerForm990Amt01330104
IRS990ScheduleD/TotalLiabilityAmt024744
IRS990ScheduleD/TotalRevenuePerForm990Amt01657100
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01657100
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01330104
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt071
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0HOUSEHOLD IMPROVEMENT/MAINTENANCE ITEMS
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0FMV
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt028163
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0PART I COLUMN B REPRESENTS THE TOTAL NUMBER OF CONTRIBUTIONS RECEIVED IN CURRENT YEAR.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT HAVE COMMITTEES OF THE GOVERNING BODY WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PREFERRED PROPERTIES, INC. PROVIDED THE GOVERNING BODY WITH A COPY OF THE ORGANIZATION'S FORM 990 FOR REVIEW AND COMMENTS BEFORE FILING.

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,955,237
Liabilities
$77,422
Net assets
$8,877,815
Revenue
$1,657,100
Expenses
$1,330,104
Net income
$326,996
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.69$0.47$7.22$1.18$1.29$0.11
2023Detailed filing. Detailed filing data is available for this year.$7.78$0.46$7.33$1.18$1.19$0.00
2022Detailed filing. Detailed filing data is available for this year.$7.73$0.40$7.33$1.32$1.19$0.13
2021Detailed filing. Detailed filing data is available for this year.$7.54$0.34$7.20$1.35$1.23$0.13
2020Detailed filing. Detailed filing data is available for this year.$7.17$0.10$7.07$1.33$1.28$0.05
2019Detailed filing. Detailed filing data is available for this year.$7.11$0.09$7.03$1.59$2.16$0.57
2018Detailed filing. Detailed filing data is available for this year.$8.96$0.08$8.88$1.66$1.33$0.33
2017Detailed filing. Detailed filing data is available for this year.$8.64$0.09$8.55$1.29$1.32$0.03
2016Detailed filing. Detailed filing data is available for this year.$8.71$0.08$8.63$1.39$1.26$0.13
2015Detailed filing. Detailed filing data is available for this year.$8.57$0.06$8.51$1.89$2.11$0.21
2014Detailed filing. Detailed filing data is available for this year.$8.79$0.07$8.72$1.76$1.46$0.30
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.60$0.18$8.42$1.39
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.48$0.22$8.25$1.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.26$0.28$6.98$1.33
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.44$0.39$6.04$2.03