Civic Intelligence

Preferred Properties Inc.

990 • Fiscal year 2019 • EIN 34-1715222

Jul 01, 2018 to Jun 30, 2019 • Filed on Jul 06, 2020

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

19th percentile

0.01x

Higher debt load relative to assets than 19% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

25th percentile

0.05x

Higher debt load relative to revenue than 25% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

8th percentile

-36%

Higher net margin than 8% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

35th percentile

$89,081

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 5.6% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

4th percentile

-21%

Faster asset growth than 4% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

29th percentile

-4.2%

Faster revenue growth than 29% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets19th percentile

Assets

Down

$7,112,119

Down $1,843,118 (-21%) from 2018

Net Assets

Down

$7,026,731

Down $1,851,084 (-21%) from 2018

Liabilities

Up

$85,388

Up $7,966 (+10%) from 2018

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin8th percentile

Revenue

Down

$1,587,869

Down $69,231 (-4.2%) from 2018

Expenses

Up

$2,157,708

Up $827,604 (+62%) from 2018

Net Income

Down

-$569,839

Down $896,835 (-274%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth4th 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

2019

Assets$7,112,119
Liabilities$85,388
Net Assets$7,026,731
Open 2019 Filing

Operations Trend

Revenue Growth29th 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

2019

Revenue$1,587,869
Expenses$2,157,708
Net Income-$569,839
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jul 6, 2020
Return Version
2018v3.2
Gross Receipts
$1,587,869
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$5,788,097$3,838,260▼ $1,949,837
Land, Buildings, and Equipment, Net$2,539,937$2,668,070▲ $128,133
Pledges and Grants Receivable$200,000$200,000→ $0
Savings and Temporary Cash Investments$244,706$194,131▼ $50,575
Accounts Receivable$125,778$106,819▼ $18,959
Cash and Non-Interest-Bearing Accounts$47,984$95,271▲ $47,287
Prepaid Expenses and Deferred Charges$1,409$2,242▲ $833
Total Assets$8,955,237$7,112,119▼ $1,843,118
Other Assets Total$7,326$7,326→ $0
Liabilities
Accounts Payable and Accrued Expenses$52,678$57,059▲ $4,381
Other Liabilities$24,744$28,329▲ $3,585
Total Liabilities$77,422$85,388▲ $7,966
Net Assets / Fund Balance
Temporarily Rstr Net Assets$4,452,421$4,168,158▼ $284,263
Unrestricted Net Assets$4,325,394$2,858,573▼ $1,466,821
Permanently Rstr Net Assets$100,000$0▼ $100,000
Total Net Assets Fund Balance$8,877,815$7,026,731▼ $1,851,084
Total Liabilities and Net Assets / Fund Balance$8,955,237$7,112,119▼ $1,843,118

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,005,237$3,073,955$5,079,192
Land$617,547-$617,547
Equipment$45,118$116,868$161,986
Other Land Buildings$168$54,435$54,603
Investment Program Related Org$3,838,260--
Compensation and Service Providers
Top Officer Pay35th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Cheryl WilsonExecutive DirectorPT$64,130$24,951$89,081

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$764,962
Program Service Revenue
$655,257
Investment Income
$153,294
Other Revenue
$14,356
All Other Contributions
$11,724
Change in Net Assets
$-569,839

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,587,869
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,587,869
Total Revenue per Form 990
$1,587,869
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,396,725
Salaries, Compensation, and Employee Benefits$760,983
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$378,720$66,297-$445,017
Occupancy$234,367$971-$235,338
Depreciation Depletion$183,167$144-$183,311
Other Employee Benefits$136,841$23,948-$160,789
Current Officers, Directors, Trustees, and Key Employees$75,719$13,362-$89,081
Payroll Taxes$40,293$7,110-$47,403
Fees for Services Accounting-$21,058-$21,058
Pension Plan Contributions$15,889$2,804-$18,693
Office Expenses$11,424$1,583-$13,007
Travel$13,004--$13,004
All Other Expenses$11,733$4-$11,737
Insurance-$4,998-$4,998
Other Expenses$1,879--$1,879
Conferences and Meetings$1,842--$1,842
Advertising$416$73-$489
Fees for Services Legal$410$45-$455
Total Functional Expenses$2,015,311$142,397$0$2,157,708

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,197,708
Expenses per Audited Statements$2,157,708
Total Expenses per Form 990$2,157,708
Expenses Not Reported on Form 990$40,000
Expenses Not Reported on Financial Statements$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$28,329
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
2020-07-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cheryl Wilson
Formed
1992
Legal Domicile
Oh
Voting Board Members
8
Independent Board Members
8
Employees
14
Volunteers
8

Preparer

Firm
Gilmore Jasion Mahler Ltd
Address
1785 INDIAN WOOD CIRCLE, 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 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.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“IMPAIRMENT LOSS 40,000.”

Raw XML AppendixShowing 400 of 687 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/OccupancyGrp/ManagementAndGeneralAmt0971
IRS990/OccupancyGrp/ProgramServicesAmt0234367
IRS990/OccupancyGrp/TotalAmt0235338
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01583
IRS990/OfficeExpensesGrp/ProgramServicesAmt011424
IRS990/OfficeExpensesGrp/TotalAmt013007
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt07326
IRS990/OtherAssetsTotalGrp/EOYAmt07326
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt023948
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0136841
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0160789
IRS990/OtherExpensesGrp/Desc0CANCELLATION OF DEBT
IRS990/OtherExpensesGrp/Desc1BAD DEBT
IRS990/OtherExpensesGrp/Desc2DEVELOPMENT
IRS990/OtherExpensesGrp/Desc3PUBLICATIONS & DUES
IRS990/OtherExpensesGrp/ProgramServicesAmt0819441
IRS990/OtherExpensesGrp/ProgramServicesAmt172284
IRS990/OtherExpensesGrp/ProgramServicesAmt217882
IRS990/OtherExpensesGrp/ProgramServicesAmt31879
IRS990/OtherExpensesGrp/TotalAmt0819441
IRS990/OtherExpensesGrp/TotalAmt172284
IRS990/OtherExpensesGrp/TotalAmt217882
IRS990/OtherExpensesGrp/TotalAmt31879
IRS990/OtherLiabilitiesGrp/BOYAmt024744
IRS990/OtherLiabilitiesGrp/EOYAmt028329
IRS990/OtherRevenueMiscGrp/BusinessCd0531390
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS TENANT R
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt014356
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt014356
IRS990/OtherRevenueTotalAmt014356
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt066297
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0378720
IRS990/OtherSalariesAndWagesGrp/TotalAmt0445017
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07110
IRS990/PayrollTaxesGrp/ProgramServicesAmt040293
IRS990/PayrollTaxesGrp/TotalAmt047403
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt02804
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt015889
IRS990/PensionPlanContributionsGrp/TotalAmt018693
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0100000
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0200000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0200000
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01409
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02242
IRS990/PrincipalOfficerNm0CHERYL WILSON
IRS990/PriorPeriodAdjustmentsAmt0-1241245
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531310
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1MANAGEMENT FEE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0354651
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1300606
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0354651
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1300606
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0683201
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0231883
IRS990/PYOtherExpensesAmt0528914
IRS990/PYOtherRevenueAmt013547
IRS990/PYProgramServiceRevenueAmt0728469
IRS990/PYRevenuesLessExpensesAmt0326996
IRS990/PYSalariesCompEmpBnftPaidAmt0801190
IRS990/PYTotalExpensesAmt01330104
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01657100
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-569839
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt0820462
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0244706
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0194131
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0TENANT REV MISC INC - 2014 AMOUNT: $ 8,105. 2015 AMOUNT: $ 4,091. 2016 AMOUNT: $ 10,080. 2017 AMOUNT: $ 13,407. 2018 AMOUNT: $ 14,356.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0764962
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0683201
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0409656
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0435837
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0910898
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03204554
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0445
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0231883
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0221557
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0211966
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0203551
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0869402
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt03694476
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt014356
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt013407
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt010080
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt04091
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt08105
IRS990ScheduleA/OtherIncome170Grp/TotalAmt050039
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.77710
IRS990ScheduleA/PublicSupportPY170Pct00.74930
IRS990ScheduleA/PublicSupportTotal170Amt03204554
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0764962
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0683201
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0409656
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0435837
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0910898
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03204554
IRS990ScheduleA/TotalSupportAmt04123995
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt02005237
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03073955
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05079192
IRS990ScheduleD/EquipmentGrp/BookValueAmt045118
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0116868
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0161986
IRS990ScheduleD/ExpensesNotReportedAmt040000
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02157708
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd00
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt03838260
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS - PROGRAM RELATED
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt0617547
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0617547
IRS990ScheduleD/OtherExpensesIncludedAmt040000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0168
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt054435
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt054603
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt028329
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01587869
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT 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/ExplanationTxt1IMPAIRMENT LOSS 40,000.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02668070
IRS990ScheduleD/TotalBookValueProgramRltdAmt03838260
IRS990ScheduleD/TotalExpensesPerForm990Amt02157708
IRS990ScheduleD/TotalLiabilityAmt028329
IRS990ScheduleD/TotalRevenuePerForm990Amt01587869
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01587869
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02197708
IRS990/ScheduleJRequiredInd00
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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PREFERRED PROPERTIES, INC. REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PREFERRED 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THERE HAS BEEN NO CHANGE TO THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,112,119
Liabilities
$85,388
Net assets
$7,026,731
Revenue
$1,587,869
Expenses
$2,157,708
Net income
-$569,839
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