Preston Homes II Inc

Analysis

Preston Homes II Inc is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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 December 2023, Preston Homes II Inc reported income of $188k and spending of $320k, spending 170% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income fell from $203k to $188k (-7.2%), an average of -2.4% a year. The sharpest change came in the year to December 2023, when income rose by 124%. Over the whole period it spent 150% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Preston Homes II Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 53rd percentile within OH. Charities of a similar size with the same main cause include Trauma Research and Education Foundation of Fresno ($188k), Lungstrong Inc ($188k) and Boston Firefighters Burn Foundation Inc ($188k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $117k (37% of expenses). Other salaries and wages came to $87k. At year end it held assets of $330k against liabilities of $568k, net assets of -$238k. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.