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Nonprofiteer
← WESLEY STAGE PARK INC

Form 990 for tax year 2022

Filed by WESLEY STAGE PARK INC.

Totals

Total revenue
$494,459
Total expenses
$585,240
Contributions and grants received
$233,787
Grants paid
$0
Program service revenue
$258,418
Investment income
$742
Other revenue
$1,512
Total assets, end of year
$2,293,496
Total liabilities, end of year
$3,763,744
Net assets or fund balances, end of year
-$1,470,248
Program services expenses (Part IX)
$491,647
Management and general expenses
$93,593
Fundraising expenses
$0
Program service expenses (Part III)
$491,647

Program services were 84.0% 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)

    $233,787

  • 2a · Program service revenue: RENTAL INCOME

    total $258,418 · related or exempt $258,418

  • 3 · Investment income

    total $742 · excluded $742

  • 11a · Other revenue: OTHER REVENUE-MISC.

    total $1,512 · excluded $1,512

  • 11e · Other revenue, total

    $1,512

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $75,861 · program services $75,861

  • 8 · Pension plan contributions

    total $1,161 · program services $1,161

  • 9 · Other employee benefits

    total $14,364 · program services $14,364

  • 10 · Payroll taxes

    total $3,940 · program services $3,940

  • 11a · Fees: management

    total $47,956 · management and general $47,956

  • 11b · Fees: legal

    total $550 · management and general $550

  • 11c · Fees: accounting

    total $14,476 · management and general $14,476

  • 12 · Advertising and promotion

    total $25 · management and general $25

  • 13 · Office expenses

    total $20,501 · management and general $20,501

  • 14 · Information technology

    total $8,976 · management and general $8,976

  • 16 · Occupancy

    total $278,221 · program services $278,221

  • 19 · Conferences, conventions and meetings

    total $1,109 · management and general $1,109

  • 22 · Depreciation, depletion and amortization

    total $112,687 · program services $112,687

  • 24a · Other expenses: SERVICE COORDINATOR CON

    total $4,944 · program services $4,944

  • 24b · Other expenses: TAXES AND LICENSES

    total $469 · program services $469

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $44,821 · end of year $12,727

  • 2 · Savings and temporary cash investments

    beginning of year $417,168 · end of year $453,664

  • 4 · Accounts receivable

    beginning of year $2,703 · end of year $2,550

  • 9 · Prepaid expenses and deferred charges

    beginning of year $70,668 · end of year $82,009

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

    $4,182,916

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

    $2,461,049

  • 10c · Land, buildings and equipment, net

    beginning of year $1,813,394 · end of year $1,721,867

  • 15 · Other assets

    beginning of year $22,803 · end of year $20,679

  • 17 · Accounts payable and accrued expenses

    beginning of year $101,105 · end of year $114,668

  • 19 · Deferred revenue

    beginning of year $1,616 · end of year $1,757

  • 23 · Secured mortgages and notes payable

    beginning of year $3,627,300 · end of year $3,627,300

  • 25 · Other liabilities

    beginning of year $21,003 · end of year $20,019

  • 27 · Net assets without donor restrictions

    beginning of year -$1,379,467 · end of year -$1,470,248

Mission and programs · 2022

Mission

WESLEY STAGE PARK, INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN JANUARY 1998, 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 MEMPHIS, TENNESSEE KNOWN AS WESLEY STAGE PARK, WHICH PROVIDES HOUSING AND RELATED SERVICES FOR VERY LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED.

  • WESLEY STAGE PARK, INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN JANUARY 1998, 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 MEMPHIS, TENNESSEE KNOWN AS WESLEY STAGE PARK, WHICH PROVIDES HOUSING AND RELATED SERVICES FOR VERY LOW INCOME ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED.

    Expenses $491,647 · Revenue $258,418

As filed on the 2022 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

  • Dr Cynthia Davis

    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

  • James C Nasso

    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

    NON-VOTING 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
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202323189349312917

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