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Nonprofiteer
← WHEELER EAST STREET HOLDINGS INC

Form 990 for tax year 2023

Filed by WHEELER EAST STREET HOLDINGS INC.

Totals

Total revenue
$103,650
Total expenses
$757,530
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$102,000
Investment income
$1,650
Other revenue
$0
Total assets, end of year
$18,400,969
Total liabilities, end of year
$9,114,426
Net assets or fund balances, end of year
$9,286,543
Program services expenses (Part IX)
$755,930
Management and general expenses
$1,600
Fundraising expenses
$0
Program service expenses (Part III)
$755,930

Program services were 99.8% 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.

  • 2a · Program service revenue: RENTAL INCOME

    total $102,000 · related or exempt $102,000

  • 3 · Investment income

    total $1,650 · excluded $1,650

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $1,600 · management and general $1,600

  • 16 · Occupancy

    total $635 · program services $635

  • 22 · Depreciation, depletion and amortization

    total $755,295 · program services $755,295

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $270,832 · end of year $304,740

  • 4 · Accounts receivable

    beginning of year $76,374 · end of year $0

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

    $24,425,972

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

    $6,329,743

  • 10c · Land, buildings and equipment, net

    beginning of year $18,146,817 · end of year $18,096,229

  • 17 · Accounts payable and accrued expenses

    end of year $474,426

  • 23 · Secured mortgages and notes payable

    beginning of year $8,640,000 · end of year $8,640,000

  • 27 · Net assets without donor restrictions

    beginning of year $9,854,023 · end of year $9,286,543

Mission and programs · 2023

Mission

WHEELER EAST STREET HOLDINGS OWNS TWO PROPERTIES THAT ARE USED EXCLUSIVELY AS FACILITIES TO SUPPORT THE WORK OF WHEELER MISSION MINISTRIES. WHEELER MISSION MINISTRIES IS USING THE FACILITIES AS SHELTERS.

Activities or mission (Part I)

TO PROVIDE A SPACE IN WHICH ITS SOLE CORPORATE MEMBER, WHEELER MISSION MINISTRIES, INC. ("WHEELER"), MAY OFFER PROGRAMMING FOR UNDERPRIVILEGED INDIVIDUALS.

  • PROVIDE FACILITIES TO SUPPORT THE WORK OF WHEELER MISSION MINISTRIES.

    Expenses $755,930 · Revenue $102,000

As filed on the 2023 return.

Listed in Part VII

  • Michael Schiele

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Fritz Breisch

    SECRETARY/TREASURER

    Total calculated
    $162,252
    From this org
    $0
    From related orgs
    $152,902
    Other
    $9,350
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $152,902 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,350 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $162,252 related

  • Art Shoener

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Perry Hines

    CHAIRMAN/PRESIDENT

    Total calculated
    $197,069
    From this org
    $0
    From related orgs
    $185,749
    Other
    $11,320
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $185,749 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,608 related
    Nontaxable benefits
    $0 + $712 related
    Filer's total
    $0 + $197,069 related

  • Rick Alvis

    BOARD MEMBER

    Total calculated
    $226,494
    From this org
    $0
    From related orgs
    $212,680
    Other
    $13,814
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $212,680 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $12,793 related
    Nontaxable benefits
    $0 + $1,021 related
    Filer's total
    $0 + $226,494 related

  • Collen Gore

    FORMER BOARD MEMBER

    Total calculated
    $128,997
    From this org
    $0
    From related orgs
    $121,170
    Other
    $7,827
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $121,170 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,049 related
    Nontaxable benefits
    $0 + $778 related
    Filer's total
    $0 + $128,997 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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE PRESIDENT IS COMPENSATED BY A RELATED ENTITY AND IS AN ORDAINED MINISTER. AS A MINISTER, PART OF HIS SALARY IS CONSIDERED A HOUSING ALLOWANCE UNDER REG. 1.1402(C)-5 .
PART I, LINE 3
THE PRESIDENT IS COMPENSATED BY A RELATED ENTITY. THAT ENTITY USES FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEYS, AND BOARD APPROVAL TO DETERMINE COMPENSATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

  • WHEELER MISSION MINISTRIES INC

    501(C)(3) · PROVIDES CHRIST CENTERED PROGRAMS TO THE HOMELESS AND THOSE IN NEED · IN

    Directly controlled by WHEELER MISSION MINISTRIES INC

Provenance

Return type
form_990
Tax year
2023
Filed
4 October 2024
IRS schema version
2023v5.1
Source object
202442819349301224

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