PRESERVATION FREEHOLD COMPANY Charity Report

Public IRS 990 nonprofit record

PRESERVATION FREEHOLD COMPANY

EIN 90-0475369 · Housing Development, Construction & Management (L20)

What they do

SEE SCHEDULE O for THE ORGANIZATIONS DEFINED MISSION STATEMENTPRESERVATION FREEHOLD COMPANY is A PUBLIC CHARITY ORGANIZED for THE PURPOSE of RELIEVING THE DISTRESSED THROUGH THE PROVISION of HOUSING DESIGNED SPECIFICALLY to ACCOMMODATE and ADDRESS CERTAIN PHYSICAL, SOCIAL, and CIVIC NEEDS of THE ELDERLY, WHILE PROMOTING THE CONTINUED DIGNITY and WELL-BEING of ITS RESIDENTS. THE CORPORATION is ORGANIZED and SHALL BE OPERATED EXCLUSIVELY for CHARITABLE and EDUCATIONAL PURPOSES WITHIN THE MEANING of SECTION 501(C)(3) of THE INTERNAL REVENUE CODE. WITHIN THE SCOPE of THE FOREGOING PURPOSES, BUT NOT BY WAY of LIMITATION THEREOF, THE CORPORATION SHALL CARRY OUT THESE PURPOSES PRIMARILY BY OWNING and OPERATING, EITHER DIRECTLY or THROUGH AFFILIATED ENTITIES, NONPROFIT HEALTH CARE FACILITIES and SENIOR LIVING COMMUNITIES.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $89.10 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders9 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

91.93%of revenue went to mission work89.1% of expenses · Program services

$103.19spent for every $100 of revenueSpending was higher than revenue this year.

11.26%of revenue went to management and office costs10.9% of expenses

$2.53in assets for every $1 spent this yearSome assets cannot be spent right away.

0.7%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $6,868,134 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $304,450 for LEE SUDBECK (FACILITY EMPLOYEE). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$215,279,684

Mission workProgram services$197,916,52391.93% of revenue89.1% of expenses

ManagementOffice and general costs$24,231,29511.26% of revenue10.9% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Total expenses$222,147,818103.19% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 89.1% mission · 10.9% management · 0.0% fundraisingTotal expenses: 103.19% of revenue

2023Expense mix: 89.5% mission · 10.5% management · 0.0% fundraisingTotal expenses: 106.37% of revenue

2022Expense mix: 90.5% mission · 9.5% management · 0.0% fundraisingTotal expenses: 106.61% of revenue

2021Expense mix: 83.9% mission · 16.1% management · 0.0% fundraisingTotal expenses: 103.37% of revenue

2020Expense mix: 86.4% mission · 13.6% management · 0.0% fundraisingTotal expenses: 109.51% of revenue

2019Expense mix: 96.3% mission · 3.7% management · 0.0% fundraisingTotal expenses: 114.93% of revenue

Money in and money out

Revenue$215,279,684

Expenses$222,147,818

Annual shortfall $6,868,134 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$197,916,523 · 89.1% of expenses

Management and office costs$24,231,295 · 10.9% of expenses

See all reported dollar amounts

Revenue$215,279,684

Expenses$222,147,818

Assets$561,000,473

Income$215,279,684

Contributions$1,418,620

Mission work (program services)$197,916,523

Management and general$24,231,295

Accounting fees$194,787

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

LEE SUDBECKFACILITY EMPLOYEE · 40 hrs/week $304,450Base $263,104 · Other $41,346

GIBSON VERNONFACILITY EMPLOYEE · 40 hrs/week $264,754Base $231,084 · Other $33,670

EDWARD FOSAMFACILITY EMPLOYEE · 82 hrs/week $252,541Base $233,500 · Other $19,041

SELINA MENSAHFACILITY EMPLOYEE · 84 hrs/week $221,813

JOHN FONANGFACILITY EMPLOYEE · 40 hrs/week $197,682

JAMES CHANCEPRESIDENT & CEO · 40 hrs/week $179,765Base $159,962 · Other $19,803

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (9)

LEE SUDBECKFACILITY EMPLOYEE

GIBSON VERNONFACILITY EMPLOYEE

EDWARD FOSAMFACILITY EMPLOYEE

SELINA MENSAHFACILITY EMPLOYEE

JOHN FONANGFACILITY EMPLOYEE

JAMES CHANCEPRESIDENT & CEO

DANA ARNETTEBOARD MEMBER

DARREL MCGEHEEBOARD MEMBER

THOMAS E LANGDONSECRETARY AND TREASURER

About this charity

Recognized since: January 2010
Location: 1500 WATERS RIDGE DR, LEWISVILLE, TX 75057-6011
County: Denton
In care of: % THOMAS E LANGDON
Primary officer: JAMES M CHANCE, PRESIDENT/CEO

How to reach them

Phone(214) 725-2837 Officer phone(405) 209-0291

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: ARMANINO ADVISORY LLC
NTEE classification: Housing Development, Construction & Management (L20)
IRS tax category: Housing Development, Construction & Management