Civic Intelligence

Preservation Housing Inc.

990 • Fiscal year 2017 • EIN 82-1151483

Jan 01, 2017 to Dec 31, 2017 • Filed on May 09, 2018

Organization ProfileN/A
P O Box 16506Mobile, AL 36616

(251) 650-7337

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.00x

Higher debt load relative to assets than 93% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

98th percentile

13.99x

Higher debt load relative to revenue than 98% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

61st percentile

6.5%

Higher net margin than 61% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

7th percentile

$0

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2017

Balance Sheet
Liabilities / Assets93rd percentile

Assets

$27,246,110

No earlier filing loaded for comparison.

Net Assets

$125,040

No earlier filing loaded for comparison.

Liabilities

$27,121,070

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin61st percentile

Revenue

$1,937,972

No earlier filing loaded for comparison.

Expenses

$1,812,932

No earlier filing loaded for comparison.

Net Income

$125,040

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$60M$40M$20M$0-$20MAssets 2017: $27,246,110Liabilities 2017: $27,121,070Net Assets 2017: $125,0402017Assets 2018: $38,959,460Liabilities 2018: $39,654,424Net Assets 2018: -$694,9642018Assets 2019: $37,765,713Liabilities 2019: $39,313,098Net Assets 2019: -$1,547,3852019Assets 2020: $37,600,716Liabilities 2020: $39,408,428Net Assets 2020: -$1,807,7122020Assets 2021: $45,095,355Liabilities 2021: $48,125,553Net Assets 2021: -$3,030,1982021Assets 2022: $41,583,416Liabilities 2022: $40,987,318Net Assets 2022: $596,0982022Assets 2023: $40,441,323Liabilities 2023: $41,044,555Net Assets 2023: -$603,2322023Assets 2024: $39,429,671Liabilities 2024: $40,131,219Net Assets 2024: -$701,5482024

Highlighted filing

2017

Assets$27,246,110
Liabilities$27,121,070
Net Assets$125,040
Open 2017 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2017: $1,937,972Expenses 2017: $1,812,932Net Income 2017: $125,0402017Revenue 2018: $6,078,548Expenses 2018: $6,898,552Net Income 2018: -$820,0042018Revenue 2019: $6,518,843Expenses 2019: $7,371,264Net Income 2019: -$852,4212019Revenue 2020: $7,260,069Expenses 2020: $7,520,396Net Income 2020: -$260,3272020Revenue 2021: $8,020,455Expenses 2021: $9,242,941Net Income 2021: -$1,222,4862021Revenue 2022: $15,150,293Expenses 2022: $11,523,997Net Income 2022: $3,626,2962022Revenue 2023: $8,179,879Expenses 2023: $9,471,663Net Income 2023: -$1,291,7842023Revenue 2024: $8,009,555Expenses 2024: $7,653,283Net Income 2024: $356,2722024

Highlighted filing

2017

Revenue$1,937,972
Expenses$1,812,932
Net Income$125,040
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 9, 2018
Return Version
2017v2.3
Gross Receipts
$1,937,972
Mission and Program Overview

Mission

To create and preserve safe and affordable housing communities for low and moderate-income individuals, families, the elderly and the disabled and to provide social and educational services beneficial to the residents in those communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$25,882,000-
Loans From Officers Directors-$3,143,230-
Intangible Assets-$302,795-
Cash and Non-Interest-Bearing Accounts-$215,643-
Prepaid Expenses and Deferred Charges-$44,402-
Accounts Receivable-$13,658-
Total Assets$0$27,246,110▲ $27,246,110
Other Assets Total-$787,612-
Liabilities
Mortgage Notes Payable Secured by Investment Property-$23,706,000-
Other Liabilities-$219,013-
Accounts Payable and Accrued Expenses-$52,827-
Total Liabilities$0$27,121,070▲ $27,121,070
Net Assets / Fund Balance
Unrestricted Net Assets-$125,040-
Total Net Assets Fund Balance$0$125,040▲ $125,040
Total Liabilities and Net Assets / Fund Balance$0$27,246,110▲ $27,246,110

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$23,232,000$269,286$23,501,286
Land$2,650,000-$2,650,000
Compensation and Service Providers
Top Officer Pay7th percentile

Board Members and Trustees

NameTitle
Patrick J CoffeyPresident
Kim O FarmerSecretary
Steven AndersonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,937,972
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$125,040
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,568,426
Salaries, Compensation, and Employee Benefits$244,506
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$320,253--$320,253
Depreciation Depletion$285,223--$285,223
Occupancy$264,001--$264,001
Other Salaries and Wages$229,501--$229,501
Insurance$77,523--$77,523
Fees for Services Management$54,195--$54,195
Office Expenses$29,853--$29,853
Advertising$25,728--$25,728
Payroll Taxes$15,005--$15,005
Other Expenses$12,513--$12,513
Fees for Services Other-$1,541-$1,541
Fees for Services Legal$743--$743
Total Functional Expenses$1,811,391$1,541$0$1,812,932
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Owned by DirectManagement FeesNo$54,195

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$3,143,230-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$219,013
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Patrick coffey kim farmer president secretary shareholders in multifamily ma”

Form 990, Page 6, Part VI, Line 3

“The organization delegated real estate management duties to multifamily management inc”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is prepared by the organization's accountant. After review, the form is submitted to the organization's governing body and is signed and filed by the secretary of the organization.”

Form 990, Page 6, Part VI, Line 19

“Form 990 are available during normal busines hours at the office of the managing agent: multifamily management inc. 2866 dauphin st., ste n mobile, al 36606”

Filing and Contact Details

Filer

Filer Name
Preservation Housing Inc
EIN
82-1151483
Phone
2516507337
Address
P O BOX 16506, MOBILE, AL 36616

Signing Officer

Name
Patrick J Coffey
Title
President
Phone
2516507337
Signed
2018-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick J Coffey
Formed
2017
Legal Domicile
Al
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Mcnorton Ishee & Jones Pc
Address
3662 DAUPHIN ST STE E, MOBILE, AL 36608
Preparer
Jacquelin M Jones
Phone
2513163636
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To create and preserve safe and affordable housing communities for low and moderate-income individuals, families, the elderly and the disabled and to provide social and educational services beneficial to the residents in those communities.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO CREATE AND PRESERVE SAFE AND AFFORDABLE HOUSING COMMUNITIES FOR LOW AND MODERATE-INCOME INDIVIDUALS, FAMILIES, THE ELDERLY AND THE DISABLED AND TO PROVIDE SOCIAL AND EDUCATIONAL SERVICES BENEFICIAL TO THE RESIDENTS IN THOSE COMMUNITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PATRICK COFFEY KIM FARMER PRESIDENT SECRETARY SHAREHOLDERS IN MULTIFAMILY MA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DELEGATED REAL ESTATE MANAGEMENT DUTIES TO MULTIFAMILY MANAGEMENT INC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS PREPARED BY THE ORGANIZATION'S ACCOUNTANT. AFTER REVIEW, THE FORM IS SUBMITTED TO THE ORGANIZATION'S GOVERNING BODY AND IS SIGNED AND FILED BY THE SECRETARY OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990 ARE AVAILABLE DURING NORMAL BUSINES HOURS AT THE OFFICE OF THE MANAGING AGENT: MULTIFAMILY MANAGEMENT INC. 2866 DAUPHIN ST., STE N MOBILE, AL 36606
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine2Txt0PRESERVATION HOUSING INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0PHI STONELAKE LLC
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$27,246,110
Liabilities
$27,121,070
Net assets
$125,040
Revenue
$1,937,972
Expenses
$1,812,932
Net income
$125,040
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$39.4$40.1$0.70$8.01$7.65$0.36
2023Detailed filing. Detailed filing data is available for this year.$40.4$41.0$0.60$8.18$9.47$1.29
2022Detailed filing. Detailed filing data is available for this year.$41.6$41.0$0.60$15.2$11.5$3.63
2021Detailed filing. Detailed filing data is available for this year.$45.1$48.1$3.03$8.02$9.24$1.22
2020Detailed filing. Detailed filing data is available for this year.$37.6$39.4$1.81$7.26$7.52$0.26
2019Detailed filing. Detailed filing data is available for this year.$37.8$39.3$1.55$6.52$7.37$0.85
2018Detailed filing. Detailed filing data is available for this year.$39.0$39.7$0.69$6.08$6.90$0.82
2017Detailed filing. Detailed filing data is available for this year.$27.2$27.1$0.13$1.94$1.81$0.13