Nonprofit · EIN 90-0475369
PRESERVATION FREEHOLD COMPANY
Tax-exempt · LEWISVILLE, TX 75057
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $215,279,684 | $222,147,818 | -$6,868,134 | $561,000,473 | $602,018,068 | -$41,017,595 |
| December 31, 2023 | 990 | $205,484,800 | $218,583,109 | -$13,098,309 | $566,365,962 | $600,515,423 | -$34,149,461 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,418,620
- of which government grants
- $1,418,470
- Program service revenue
- $210,130,413
- Investment income
- $3,383,901
- Other revenue
- $346,750
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $172,851
- Other salaries and wages
- $102,916,230
- Salaries, compensation and benefits (total)
- $114,429,215
- Professional fundraising fees
- $0
- Legal fees
- $470,262
- Accounting fees
- $194,787
- Occupancy
- $10,254,755
- Travel
- $80,590
- Depreciation
- $16,856,541
- Program services (functional)
- $197,916,523
- Management and general (functional)
- $24,231,295
Balance sheet and other
- Total assets, start of year
- $566,365,962
- Total assets, end of year
- $561,000,473
- Total liabilities, end of year
- $602,018,068
- Net assets, end of year
- -$41,017,595
- Land, buildings and equipment
- $447,659,506
- Gross receipts
- $215,279,684
- Employees
- 5,587
- Volunteers
- 3
- Year formed
- 2009
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LEE SUDBECK | FACILITY EMPLOYEE Highest-paid employee | 40 | $263,104 | $41,346 |
| GIBSON VERNON | FACILITY EMPLOYEE Highest-paid employee | 40 | $231,084 | $33,670 |
| EDWARD FOSAM | FACILITY EMPLOYEE Highest-paid employee | 81.84 | $233,500 | $19,041 |
| SELINA MENSAH | FACILITY EMPLOYEE Highest-paid employee | 83.56 | $221,813 | $0 |
| JOHN FONANG | FACILITY EMPLOYEE Highest-paid employee | 40 | $197,682 | $0 |
| JAMES CHANCE | PRESIDENT & CEO Trustee or director, Officer | 40 | $159,962 | $19,803 |
| THOMAS E LANGDON | SECRETARY AND TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| DANA ARNETTE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DARREL MCGEHEE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LEE SUDBECK | FACILITY EMPLOYEE Highest-paid employee | 40 | $225,417 | $37,080 |
| GIBSON VERNON | FACILITY EMPLOYEE Highest-paid employee | 40 | $232,740 | $25,480 |
| EDWARD FOSAM | FACILITY EMPLOYEE Highest-paid employee | 69.89 | $214,687 | $0 |
| JAMES NYANGOYA | FACILITY EMPLOYEE Highest-paid employee | 86.63 | $191,282 | $0 |
| SELINA MENSAH | FACILITY EMPLOYEE Highest-paid employee | 74.5 | $188,353 | $0 |
| JAMES CHANCE | PRESIDENT & CEO Trustee or director, Officer | 40 | $160,221 | $17,642 |
| THOMAS E LANGDON | SECRETARY AND TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| DANA ARNETTE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DARREL MCGEHEE | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1500 WATERS RIDGE DR, LEWISVILLE, TX 75057-6011
- In care of
- % THOMAS E LANGDON
- Mailing address (990-N for 2014)
- 1917 Red Prairie Drive, Edmond OK 73025
- Principal officer (990 for 2024)
- JAMES M CHANCE, 1500 WATERS RIDGE DR 100, LEWISVILLE, TX 75057
- Principal officer (990-N for 2014)
- Thomas E Langdon, 1917 Red Prairie Drive, Edmond OK 73025
- Signed the 990
- JAMES M CHANCE, PRESIDENT/CEO
- Phone
- (214) 725-2837
- Return prepared by
- ARMANINO ADVISORY LLC
Mission
SEE SCHEDULE O FOR THE ORGANIZATION'S 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.
Program accomplishments
- PRESERVATION FREEHOLD COMPANY, 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, OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, CARRIED OUT THESE PURPOSES PRIMARILY BY OWNING AND OPERATING, EITHER DIRECTLY OR THROUGH AFFILIATED ENTITIES, NONPROFIT HEALTH CARE FACILITIES AND SENIOR LIVING COMMUNITIES.Expenses $197,916,523 · revenue $210,477,163
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 90-0475369
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2010
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20)
- Assets (IRS master file)
- $561,000,473
- Income (IRS master file)
- $215,279,684
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $215,279,684 | $222,147,818 | $561,000,473 | XML |
| 990 | December 2023 | $205,484,800 | $218,583,109 | $566,365,962 | XML |
| 990 | December 2022 | $209,012,995 | $222,825,249 | $583,423,899 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
| 990-N for 2014 Officer: Thomas E Langdon | December 31, 2014 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 90-0475369).
Questions about PRESERVATION FREEHOLD COMPANY
- What is the EIN of PRESERVATION FREEHOLD COMPANY?
- The employer identification number (EIN) of PRESERVATION FREEHOLD COMPANY is 90-0475369.
- Is PRESERVATION FREEHOLD COMPANY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2010.
- Are donations to PRESERVATION FREEHOLD COMPANY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PRESERVATION FREEHOLD COMPANY file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PRESERVATION FREEHOLD COMPANY due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PRESERVATION FREEHOLD COMPANY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of PRESERVATION FREEHOLD COMPANY?
- The 990 for the year ended December 31, 2024 names JAMES M CHANCE.
- Who are the officers and directors of PRESERVATION FREEHOLD COMPANY?
- The 990 for the year ended December 31, 2024 lists 9 people; 6 received compensation from the organization, the highest $263,104 (LEE SUDBECK, FACILITY EMPLOYEE).
- How much revenue does PRESERVATION FREEHOLD COMPANY have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $215,279,684, expenses of $222,147,818 and total assets of $561,000,473 at year end.
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