Civic Intelligence

Preferred Properties Inc.

990 • Fiscal year 2020 • EIN 34-1715222

Jul 01, 2019 to Jun 30, 2020 • Filed on May 13, 2021

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.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

26th percentile

0.07x

Higher debt load relative to revenue than 26% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

48th percentile

3.6%

Higher net margin than 48% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

39th percentile

$98,969

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 7.4% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

32nd percentile

0.8%

Faster asset growth than 32% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

22nd percentile

-16%

Faster revenue growth than 22% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets19th percentile

Assets

Up

$7,171,001

Up $58,882 (+0.8%) from 2019

Net Assets

Up

$7,074,105

Up $47,374 (+0.7%) from 2019

Liabilities

Up

$96,896

Up $11,508 (+13%) from 2019

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin48th percentile

Revenue

Down

$1,329,801

Down $258,068 (-16%) from 2019

Expenses

Down

$1,282,427

Down $875,281 (-41%) from 2019

Net Income

Up

$47,374

Up $617,213 (+108%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth32nd 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

2020

Assets$7,171,001
Liabilities$96,896
Net Assets$7,074,105
Open 2020 Filing

Operations Trend

Revenue Growth22nd 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

2020

Revenue$1,329,801
Expenses$1,282,427
Net Income$47,374
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 13, 2021
Return Version
2019v5.2
Gross Receipts
$1,329,801
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$3,838,260$3,895,094▲ $56,834
Land, Buildings, and Equipment, Net$2,668,070$2,619,846▼ $48,224
Savings and Temporary Cash Investments$194,131$460,904▲ $266,773
Pledges and Grants Receivable$200,000$0▼ $200,000
Accounts Receivable$106,819$134,311▲ $27,492
Cash and Non-Interest-Bearing Accounts$95,271$50,989▼ $44,282
Prepaid Expenses and Deferred Charges$2,242$2,531▲ $289
Total Assets$7,112,119$7,171,001▲ $58,882
Other Assets Total$7,326$7,326→ $0
Liabilities
Accounts Payable and Accrued Expenses$57,059$69,026▲ $11,967
Other Liabilities$28,329$27,870▼ $459
Total Liabilities$85,388$96,896▲ $11,508
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,168,158$4,169,754▲ $1,596
Net Assets Without Donor Restrictions$2,858,573$2,904,351▲ $45,778
Total Net Assets Fund Balance$7,026,731$7,074,105▲ $47,374
Total Liabilities and Net Assets / Fund Balance$7,112,119$7,171,001▲ $58,882

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,970,355$3,250,920$5,221,275
Land$617,547-$617,547
Equipment$31,944$130,042$161,986
Other Land Buildings$0$54,603$54,603
Investment Program Related Org$3,895,094--
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Cheryl WilsonExecutive DirectorPT$69,741$29,228$98,969

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
$571,349
Program Service Revenue
$653,552
Investment Income
$86,114
Other Revenue
$18,786
All Other Contributions
$3,814
Change in Net Assets
$47,374

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,329,801
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,329,801
Total Revenue per Form 990
$1,329,801
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$765,740
Other Expenses$516,687
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$373,670$91,961-$465,631
Occupancy$212,281$3,698-$215,979
Depreciation Depletion$190,108$192-$190,300
Other Employee Benefits$111,190$27,798-$138,988
Current Officers, Directors, Trustees, and Key Employees$79,175$19,794-$98,969
Payroll Taxes$34,846$8,712-$43,558
Office Expenses$37,930$1,950-$39,880
Pension Plan Contributions$15,024$3,570-$18,594
Fees for Services Accounting-$14,802-$14,802
Travel$11,026$724-$11,750
Fees for Services Other$8,663$963-$9,626
Insurance-$3,931-$3,931
Other Expenses$1,648$412-$2,060
Conferences and Meetings$1,868--$1,868
Advertising$34$9-$43
Total Functional Expenses$1,103,718$178,709$0$1,282,427

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,282,427
Total Expenses per Audited Statements$1,282,427
Total Expenses per Form 990$1,282,427
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$27,870
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 35% controlled entity
No
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
2021-05-13
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
13
Volunteers
8

Preparer

Firm
Gilmore Jasion Mahler Ltd
Address
1785 INDIAN WOOD CIRCLE, MAUMEE, OH 43537
Preparer
Alex Spieker
Phone
4197942000
Supplemental Narrative

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.”

Raw XML AppendixShowing 400 of 608 raw XML fields

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IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc1DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2PUBLICATIONS & DUES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0193
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1412
IRS990/OtherExpensesGrp/ProgramServicesAmt013830
IRS990/OtherExpensesGrp/ProgramServicesAmt112425
IRS990/OtherExpensesGrp/ProgramServicesAmt21648
IRS990/OtherExpensesGrp/TotalAmt014023
IRS990/OtherExpensesGrp/TotalAmt112425
IRS990/OtherExpensesGrp/TotalAmt22060
IRS990/OtherLiabilitiesGrp/BOYAmt028329
IRS990/OtherLiabilitiesGrp/EOYAmt027870
IRS990/OtherRevenueMiscGrp/BusinessCd0531390
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS TENANT R
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt018786
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt018786
IRS990/OtherRevenueTotalAmt018786
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt091961
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0373670
IRS990/OtherSalariesAndWagesGrp/TotalAmt0465631
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt08712
IRS990/PayrollTaxesGrp/ProgramServicesAmt034846
IRS990/PayrollTaxesGrp/TotalAmt043558
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt03570
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt015024
IRS990/PensionPlanContributionsGrp/TotalAmt018594
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0200000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd01
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02242
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02531
IRS990/PrincipalOfficerNm0CHERYL WILSON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531310
IRS990/ProgramServiceRevenueGrp/BusinessCd2531310
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1MANAGEMENT FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc2DEVELOPMENT FEE INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0375074
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1275459
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt23019
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0375074
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1275459
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt23019
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0764962
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0153294
IRS990/PYOtherExpensesAmt01396725
IRS990/PYOtherRevenueAmt014356
IRS990/PYProgramServiceRevenueAmt0655257
IRS990/PYRevenuesLessExpensesAmt0-569839
IRS990/PYSalariesCompEmpBnftPaidAmt0760983
IRS990/PYTotalExpensesAmt02157708
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01587869
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt047374
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt0758178
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0194131
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0460904
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0TENANT REV MISC INC - 2015 AMOUNT: $ 4,091. 2016 AMOUNT: $ 10,080. 2017 AMOUNT: $ 13,407. 2018 AMOUNT: $ 14,356. 2019 AMOUNT: $ 18,786.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0571349
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0764962
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0683201
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0409656
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0435837
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02865005
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0274
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0445
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0231883
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0221557
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0211966
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0666125
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt03661553
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt018786
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt014356
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt013407
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt010080
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt04091
IRS990ScheduleA/OtherIncome170Grp/TotalAmt060720
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.79760
IRS990ScheduleA/PublicSupportPY170Pct00.77710
IRS990ScheduleA/PublicSupportTotal170Amt02865005
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0571349
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0764962
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0683201
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0409656
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0435837
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02865005
IRS990ScheduleA/TotalSupportAmt03591850
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/BookValueAmt01970355
IRS990ScheduleD/BuildingsGrp/DepreciationAmt03250920
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05221275
IRS990ScheduleD/EquipmentGrp/BookValueAmt031944
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0130042
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0161986
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01282427
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd00
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt03895094
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS - PROGRAM RELATED
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt0617547
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0617547
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt054603
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt054603
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt027870
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01329801
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/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02619846
IRS990ScheduleD/TotalBookValueProgramRltdAmt03895094
IRS990ScheduleD/TotalExpensesPerForm990Amt01282427
IRS990ScheduleD/TotalLiabilityAmt027870
IRS990ScheduleD/TotalRevenuePerForm990Amt01329801
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01329801
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01282427
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/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
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd01
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd11
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd21
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd31
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd2N/A

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,171,001
Liabilities
$96,896
Net assets
$7,074,105
Revenue
$1,329,801
Expenses
$1,282,427
Net income
$47,374
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