Preservation Freehold Company
89% goes to programs $0 to raise $100 Thin reserves Growing revenue
Preservation Freehold Company is a 501(c)(3) organization based in Lewisville, Texas, registered in 2010, with $215,279,684 in FY2024 revenue. CharityIndex grades it C+, and it directs about 89% of spending to programs.
1500 Waters Ridge Dr, Lewisville, TX, 75057 EIN 90-0475369 Since 2010
Revenue (FY2024)
$215.3M
▲ 4.8% vs prior year
Housing median: $408K
Expenses (FY2024)
$222.1M
Net assets
-$41.0M
Employees
5,587
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
C+Program efficiency40% of the rating89% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Preservation Freehold Company: 89% to programs · $0 to raise $100 earns a C+ on this criterion. See the exact thresholds →
DFinancial health25% of the rating0 mo reserves · -3% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Preservation Freehold Company: 0 mo reserves · -3% margin earns a D on this criterion. See the exact thresholds →
BGovernance25% of the rating4 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Preservation Freehold Company: 4 of 6 checks met earns a B on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Preservation Freehold Company: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Preservation freehold company is a public charity organized for the purpose (continued on schedule o) 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.
Contact & location
- Address
- 1500 Waters Ridge Dr, Lewisville, TX, 75057
- City
- Lewisville
- State
- Texas
- Category
- Housing & Shelter
- Subcategory
- Housing Development & Management
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $500K (FY2014) to $215.3M (FY2024) across 10 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $602.0MNet assets -$41.0M
Operating margin
-3.2%
Spent more than it raised in the latest fiscal year.
Total assets
$561.0M
Total liabilities
$602.0M
Net assets
-$41.0M
Salaries & benefits
$114.4M
52% of expenses
Board members
4
3 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $215,279,684▲4.8% | $222,147,818▲1.6% | -$41,017,595▼20.1% | $561,000,473▼0.9% | 990 |
| 2023 | $205,484,800▼1.7% | $218,583,109▼1.9% | -$34,149,461▼64.2% | $566,365,962▼2.9% | 990 |
| 2022 | $209,012,995▲110% | $222,825,249▲116% | -$20,792,583▼198% | $583,423,899▼2.7% | 990 |
| 2021 | $99,735,351▲752% | $103,097,020▲704% | -$6,980,329▼92.9% | $599,345,935▲1589% | 990 |
| 2020 | $11,706,521▲342% | $12,819,744▲321% | -$3,618,660▼44.4% | $35,490,463▲17.8% | 990 |
| 2019 | $2,648,072▲3326% | $3,043,446 | -$2,505,437▼797% | $30,136,896▲10894% | 990 |
| 2018 | -$82,091▼276% | $0 | -$279,203▼41.6% | -$279,203▼41.6% | 990 |
| 2017 | $46,594▲147% | $0 | -$197,112▲19.1% | -$197,112▲19.1% | 990 |
| 2016 | -$99,177▼120% | $0 | -$243,706▼149% | -$243,706▼149% | 990 |
| 2014 | $499,500 | $0 | $499,500 | $499,500 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Lee Sudbeck — $263,104 (0.12% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Lee Sudbeck | Facility Employee | 40 | $263,104 |
| Edward Fosam | Facility Employee | 81.84 | $233,500 |
| Gibson Vernon | Facility Employee | 40 | $231,084 |
| Selina Mensah | Facility Employee | 83.56 | $221,813 |
| John Fonang | Facility Employee | 40 | $197,682 |
| James Chance | President & Ceo | 40 | $159,962 |
| Dana Arnette | Board Member | 1 | — |
| Darrel Mcgehee | Board Member | 1 | — |
| Thomas E Langdon | Secretary and Treasurer | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Stonegate Senior Living LLC | Management Company | $20,577,582 |
| Rehab Pro | Therapy Services | $7,417,787 |
| Shiftkey LLC | Nurse Staffing Service | $858,834 |
| Lifetime Wellness | Therapy Services | $640,085 |
| Collain Healthcare | Accounting Services | $383,415 |
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Compare Preservation Freehold Company
Frequently asked questions
- Is Preservation Freehold Company a legitimate nonprofit?
- Yes. Preservation Freehold Company is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 90-0475369, based in Lewisville, Texas. Donations are tax-deductible.
- What is Preservation Freehold Company's EIN?
- Preservation Freehold Company's Employer Identification Number (EIN) is 90-0475369.
- How much revenue does Preservation Freehold Company report?
- Preservation Freehold Company reported $215,279,684 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Preservation Freehold Company's spending goes to programs?
- Preservation Freehold Company spends about 89% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Preservation Freehold Company have?
- CharityIndex grades Preservation Freehold Company C+, based on program efficiency and fundraising cost.
- How much does Preservation Freehold Company's highest-paid employee make?
- The highest reported compensation on Preservation Freehold Company's latest Form 990 is $263,104, paid to Lee Sudbeck (Facility Employee).
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Data for Preservation Freehold Company (EIN 90-0475369) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.