Overview
What is Preservation Housing Inc?
Preservation Housing Inc is a nonprofit organization based in Mobile, Alabama. Their primary mission is to create and preserve safe and affordable housing communities for individuals and families with low to moderate income, the elderly, and the disabled. By offering affordable housing, they aim to improve the living conditions for their residents. Additionally, they provide social and educational services to enhance the overall well-being of the community members. Preservation Housing Inc is dedicated to enhancing the quality of life for its residents through the provision of affordable housing and essential support services.
What are the reviews and ratings of this charity?
Charity Navigator rating: 52%, One-Star out of Four Star rating.
Preservation Housing Inc has received a low score of 52%, which indicates significant concerns regarding its accountability and finance practices. While the organization benefits from a fully independent board and has shown no material diversion of assets, the lack of transparency is highlighted by missing financial statements and policies. The absence of required documentation, such as a conflict of interest and whistleblower policy, raises questions about the governance and operational practices of the nonprofit.
Despite achieving a program expense ratio of 100%, indicating that all its expenses are directed towards its mission, the organization's financial management appears to be lacking. With a high liabilities to assets ratio of 98.56%, it suggests potential financial instability, which could pose risks to its sustainability and effectiveness in the long term.
Overall, while Preservation Housing Inc has strengths in governance through its independent board, its significant shortcomings in financial disclosures and policies warrant caution for potential donors and supporters interested in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is Preservation Housing Inc legitimate?
Preservation Housing Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Preservation Housing Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,223,277
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What is the mission statement of Preservation Housing Inc?
Preservation Housing Inc is dedicated to creating and preserving safe and affordable housing communities for individuals and families with low to moderate income, as well as the elderly and disabled. Their mission extends beyond just providing housing, as they aim to offer beneficial social and educational services to the residents in these communities. Through their efforts, they strive to enhance the lives of those in need of affordable housing solutions.
Who is the CEO of Preservation Housing Inc?
Patrick J Coffey is the President of Preservation Housing Inc.
What is the revenue of Preservation Housing Inc?
Preservation Housing Inc's revenue in 2022 was $15,150,293.
Who are the executives of Preservation Housing Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Preservation Housing Inc?
Preservation Housing Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Preservation Housing Inc
Preservation Housing Inc, a leading nonprofit organization, is committed to creating and preserving safe and affordable housing communities for individuals and families with low and moderate incomes, as well as the elderly and disabled. By providing these communities, Preservation Housing aims to offer more than just a place to live; it strives to enhance the lives of its residents through the implementation of social and educational services.
The organization's primary focus is on ensuring that those who are most in need have access to affordable housing. Preservation Housing's mission is twofold: it not only creates new housing communities but also works to preserve existing ones. By doing so, it ensures that individuals and families can maintain stable living environments, free from the burden of escalating housing costs.
Moreover, Preservation Housing recognizes the importance of addressing the various needs of its residents beyond just housing. To accomplish this, the organization offers a range of social and educational services, tailored to the unique circumstances of each community. These services aim to improve the quality of life for the residents and help them build stronger, more self-sufficient lives.
In essence, Preservation Housing Inc goes beyond the mere provision of housing, acting as a supportive partner to its residents and fostering an inclusive, thriving, and resilient community. By focusing on both the physical and social needs of its residents, the organization is able to create an environment where individuals and families can truly flourish.
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Impact
October, 2024
Preservation Housing Inc has made a significant impact by creating and preserving safe, affordable housing communities for low and moderate-income individuals and families, as well as the elderly and disabled. By focusing on Indianapolis, IN, their initiatives ensure that vulnerable populations have access to secure housing, which is a fundamental aspect of stability and quality of life.
In addition to providing affordable housing, Preservation Housing Inc enhances the lives of residents by offering social and educational services that address the unique needs of the communities they serve. This holistic approach not only fosters a sense of community but also empowers residents through access to resources that promote personal and professional development.
Overall, Preservation Housing Inc contributes to the development of healthier, more inclusive neighborhoods, allowing residents to thrive in supportive environments that prioritize their well-being.
This information is meant to be a general summary of Preservation Housing Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $6,517,632
- Program Service Revenue: $8,632,693
- Gross Receipts: $20,032,661
Assets and Liabilities:
- Total Assets: $41,583,416
- Total Liabilities: $40,987,318
- Net Assets: $596,098
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STONELAKE APARTMENTS
Revenue
$5,696,036
BAY TERRACE APARTMENTS
Revenue
$1,331,306
MAGNOLIA APARTMENTS
Revenue
$1,214,468
PEPPERMILL FARMS APARTMENRS
Revenue
$390,883
Organization Details
Founding Year
2017
Phone
(251) 650-7337Principal Officer
Patrick J Coffey
Main Address
P O BOX 16506, MOBILE, AL, 36616
NTEE Category
Code: L21 - Housing
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