Preferred Properties Inc

Analysis

Preferred Properties Inc is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in March 1993, 33 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Preferred Properties Inc reported income of $1.2m and spending of $1.2m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.6m to $1.2m (-26%), an average of -7.1% a year. The sharpest change came in the year to June 2020, when income dropped by 16%. Over the whole period it spent 104% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Preferred Properties Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within OH. Charities of a similar size with the same main cause include Atu Training and Education Center Inc ($1.2m), Provident Church Ministries Inc ($1.2m) and Physician Assistant Foundation of the American Academy of Physician ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 36% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $96k (8.1% of expenses). Other salaries and wages came to $438k. At year end it held assets of $7.8m against liabilities of $455k, net assets of $7.3m. It reported 18 employees.