Overview
What is Preservation Freehold Company?
Preservation Freehold Company is a prominent charitable organization based in Lewisville, Texas, dedicated to alleviating distress by providing housing tailored to the unique physical, social, and civic needs of the elderly population. By promoting their dignity and overall well-being, the company operates exclusively for charitable purposes, as defined under Section 501(C)(3) of the Internal Revenue Code. Mainly, they achieve their goals by managing nonprofit healthcare facilities and senior living communities, either directly or through affiliated entities. With a significant workforce of over five thousand employees, Preservation Freehold Company aims to improve the living conditions and overall quality of life for the elderly population.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, earning it a Two-Star out of Four Star rating.
Preservation Freehold Company has received a two-star rating from Charity Navigator, indicating some concerns regarding its financial transparency and overall accountability. The organization has a strong governance structure, with eight independent board members and a comprehensive conflict of interest policy. However, it struggles significantly in financial reporting, as evidenced by its score of zero in financial statements and tax form visibility on its website.
The organization demonstrates a commitment to maintaining ethical practices, as reflected in its policies on whistleblowing and document retention. Moreover, it excels in program expense allocation, with a full score in that category, suggesting that its resources are effectively directed toward its mission. Despite these strengths, the lack of financial transparency may raise concerns for potential donors looking for greater insight into how funds are managed.
Overall, while Preservation Freehold Company showcases solid governance and programmatic focus, its deficiencies in financial disclosure and reporting could deter some supporters. Improvements in these areas could enhance its credibility and possibly lead to a better rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Preservation Freehold Company legitimate?
Preservation Freehold Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Preservation Freehold Company 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: $201,406
Professional Fundraising Fees: $0
Other Salaries and Wages: $96,705,215
For more financial information, click here
What is the mission statement of Preservation Freehold Company?
Preservation Freehold Company is a charitable organization dedicated to alleviating distress among the elderly by providing housing specifically tailored to address their physical, social, and civic needs. By operating exclusively for charitable and educational purposes, the corporation aims to promote the continued dignity and well-being of its residents, as defined by Section 501(C)(3) of the Internal Revenue Code. Within this scope, the organization primarily achieves its mission by owning and managing nonprofit healthcare facilities and senior living communities.
Who is the CEO of Preservation Freehold Company?
James M Chance is the Facility Employee of Preservation Freehold Company. The CEO's salary of Preservation Freehold Company is $189,518 and their total compensation is $207,674.
What is the revenue of Preservation Freehold Company?
Preservation Freehold Company's revenue in 2022 was $209,012,995.
Who are the executives of Preservation Freehold Company and what are their salaries?
The average compensation at Preservation Freehold Company during 2022 was $16,512. There are 5869 employees and 3 volunteers at Preservation Freehold Company.
Here are 9 key members and their salaries (Preservation Freehold Company's CEO's salary is $189,518 and their total compensation is $207,674):
- Compensation: $199,466
- Related: $0
- Other: $57,549
- Compensation: $211,411
- Related: $0
- Other: $28,557
- Compensation: $219,808
- Related: $0
- Other: $0
- Compensation: $189,518
- Related: $0
- Other: $18,156
- Compensation: $170,824
- Related: $0
- Other: $0
- Compensation: $169,423
- Related: $0
- Other: $56
- 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 Freehold Company?
Preservation Freehold Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Preservation Freehold Company
Preservation Freehold Company, a charitable organization, is dedicated to alleviating distress and improving the lives of the elderly. By designing and providing housing tailored to the unique physical, social, and civic needs of this demographic, the corporation ensures the continued dignity and well-being of its residents. Operating under Section 501(c)(3) of the Internal Revenue Code, Preservation Freehold Company's mission is exclusively charitable and educational.
To achieve its goals, Preservation Freehold Company primarily focuses on owning and managing nonprofit healthcare facilities and senior living communities. This approach allows it to make a significant difference in the lives of the elderly, providing them with a safe and supportive environment designed to address their specific needs. By prioritizing the well-being of its residents, Preservation Freehold Company is able to promote a sense of community, engagement, and overall improvement in the quality of life for the elderly population it serves.
In essence, Preservation Freehold Company is a beacon of hope for the elderly, offering them a chance to live in dignified and comfortable surroundings that cater to their unique requirements. The organization's commitment to charitable purposes and the operation of healthcare facilities and senior living communities is essential in ensuring the elderly population receives the care and attention they deserve, promoting their continued well-being and dignity.
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Impact
October, 2024
Preservation Freehold Company significantly impacts the community by providing essential housing solutions tailored specifically for the elderly. By addressing the unique physical, social, and civic needs of senior residents, the organization ensures that individuals receive the support they require while maintaining their dignity and well-being.
Operating primarily in Lewisville, TX, Preservation Freehold Company owns and manages healthcare facilities and senior living communities, creating a nurturing environment designed to alleviate distress among older adults. Their commitment to serving this demographic contributes to improved quality of life, fostering a sense of belonging and purpose among residents.
The organization plays a crucial role in promoting community resilience by addressing gaps in housing and healthcare accessibility for seniors, ultimately enhancing the overall quality of life for both residents and the broader community.
This information is meant to be a general summary of Preservation Freehold Company. 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: $632,107
- Program Service Revenue: $196,643,419
- Gross Receipts: $209,012,995
Assets and Liabilities:
- Total Assets: $583,423,899
- Total Liabilities: $604,216,482
- Net Assets: -$20,792,583
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ROOM & BOARD
Revenue
$123,299,536
MEDICAL SERVICES
Revenue
$44,496,198
RENTAL INCOME
Revenue
$23,709,606
MANAGEMENT FEES
Revenue
$5,137,988
COVID TESTING
Revenue
$91
Organization Details
Founding Year
2009
Phone
(214) 725-2837Principal Officer
James M Chance
Main Address
1500 WATERS RIDGE DRIVE 100, LEWISVILLE, TX, 75057
NTEE Category
Code: L20 - Housing
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