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Nonprofiteer
← WESLEY HOMES INC

Form 990 for tax year 2023

Filed by WESLEY HOMES INC.

Totals

Total revenue
$578,651
Total expenses
$682,434
Contributions and grants received
$340,794
Grants paid
$0
Program service revenue
$274,327
Investment income
-$36,470
Other revenue
$0
Total assets, end of year
$804,557
Total liabilities, end of year
$1,848,454
Net assets or fund balances, end of year
-$1,043,897
Program services expenses (Part IX)
$592,122
Management and general expenses
$90,312
Fundraising expenses
$0
Program service expenses (Part III)
$592,122

Program services were 86.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $340,794

  • 2a · Program service revenue: RENTAL INCOME

    total $274,327 · related or exempt $274,327

  • 3 · Investment income

    total $297 · excluded $297

  • 7a · Gross sales of assets other than inventory

    other assets $26,323

  • 7b · Less cost or other basis and sales expenses

    other assets $63,090

  • 7c · Gain or loss

    other assets -$36,767

  • 7d · Net gain or loss

    total -$36,767 · related or exempt -$36,767

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $116,894 · program services $116,894

  • 8 · Pension plan contributions

    total $1,762 · program services $1,762

  • 9 · Other employee benefits

    total $36,645 · program services $36,645

  • 10 · Payroll taxes

    total $6,447 · program services $6,447

  • 11a · Fees: management

    total $45,569 · management and general $45,569

  • 11c · Fees: accounting

    total $14,871 · management and general $14,871

  • 12 · Advertising and promotion

    total $1,384 · management and general $1,384

  • 13 · Office expenses

    total $16,798 · management and general $16,798

  • 14 · Information technology

    total $7,132 · management and general $7,132

  • 16 · Occupancy

    total $319,775 · program services $319,775

  • 19 · Conferences, conventions and meetings

    total $4,558 · management and general $4,558

  • 22 · Depreciation, depletion and amortization

    total $98,321 · program services $98,321

  • 24a · Other expenses: MIP

    total $7,484 · program services $7,484

  • 24b · Other expenses: SERVICE COORDINATOR CON

    total $4,534 · program services $4,534

  • 24c · Other expenses: TAXES/LICENSES AND PERM

    total $260 · program services $260

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $27,323 · end of year $13,047

  • 2 · Savings and temporary cash investments

    beginning of year $185,482 · end of year $137,843

  • 4 · Accounts receivable

    beginning of year $28,898 · end of year $69,287

  • 9 · Prepaid expenses and deferred charges

    beginning of year $89,745 · end of year $100,939

  • 10a · Land, buildings and equipment: cost or other basis

    $3,020,553

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,645,872

  • 10c · Land, buildings and equipment, net

    beginning of year $413,664 · end of year $374,681

  • 14 · Intangible assets

    beginning of year $90,538 · end of year $86,929

  • 15 · Other assets

    beginning of year $20,332 · end of year $21,831

  • 17 · Accounts payable and accrued expenses

    beginning of year $99,465 · end of year $198,667

  • 19 · Deferred revenue

    beginning of year $7,064 · end of year $7,501

  • 23 · Secured mortgages and notes payable

    beginning of year $1,669,250 · end of year $1,620,996

  • 25 · Other liabilities

    beginning of year $20,317 · end of year $21,290

  • 27 · Net assets without donor restrictions

    beginning of year -$940,114 · end of year -$1,043,897

Mission and programs · 2023

Mission

WESLEY HOMES, INC. - DYERSBURG IS A NOT-FOR-PROFIT CORPORATION FORMED IN APRIL 7, 1978 IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF TENNESSEE. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 66-UNIT COMMUNITY LOCATED IN DYERSBURG, TENNESSEE KNOWN AS WESLEY HOMES DYERSBURG, WHICH PROVIDES HOUSING AND RELATED SERVICES FOR VERY LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED.

Activities or mission (Part I)

TO PROVIDE HOUSING AND SERVICES TO VERY LOW AND EXTREMELY LOW INCOME ELDERLY PERSONS.

  • WESLEY HOMES, INC. - DYERSBURG IS A NOT-FOR-PROFIT CORPORATION FORMED IN APRIL 7, 1978 IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF TENNESSEE. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 66-UNIT COMMUNITY LOCATED IN DYERSBURG, TENNESSEE KNOWN AS WESLEY HOMES DYERSBURG, WHICH PROVIDES HOUSING AND RELATED SERVICES FOR VERY LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED.

    Expenses $592,122 · Revenue $237,560

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dwight Davis

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Amanda L Ward

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Eddie Smith

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Holly Mitchener

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Carol Avens

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Meredith Bingham

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Joyce Feger

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jennifer Garst

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Phyllis Gay

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Rev Andrew Thompson

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Nancy Albonetti

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Brian Harris

    NON-VOTING CEO

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Donald Ollio

    NON-VOTING CFO

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Ronald Budynas

    NON-VOTING COO

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Mary Lou Cushing

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202423189349306877

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