Wesley Rydell Housing Corporation
- Assets
- $11.6m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 11/2006
- Data as of
- 12/2023
- EIN
- 20-5289427
Organization Overview
Wesley Rydell Housing Corporation is located in Alexandria, VA. The organization was established in 2006. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesley Rydell Housing Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Wesley Rydell Housing Corporation generated $1.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $1.9m during the year ending 12/2023. While expenses have increased by 0.8% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE 98 UNITS OF AFFORDABLE HOUSING TO FAMILIES AND INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE 98 UNITS OF AFFORDABLE HOUSING TO FAMILIES AND INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kamilah Mcafee Secretary/board Member | Officer | 0.2 | $0 |
Mr Michael T Cranna President | Officer | 0.2 | $0 |
Kimberly Armstrong Treasurer | Officer | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,775,814 |
| Investment income | $7,649 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,783,463 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $177,512 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,839 |
| Payroll taxes | $10,957 |
| Fees for services: Management | $86,614 |
| Fees for services: Legal | $1,237 |
| Fees for services: Accounting | $12,940 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $564 |
| Office expenses | $7,424 |
| Information technology | $14,612 |
| Royalties | $0 |
| Occupancy | $612,612 |
| Travel | $5 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $548,760 |
| Payments to affiliates | $2,791 |
| Depreciation, depletion, and amortization | $346,779 |
| Insurance | $4,025 |
| All other expenses | $0 |
| Total functional expenses | $1,860,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $170,329 |
| Savings and temporary cash investments | $128,795 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,020 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $11,241,960 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $49,181 |
| Total assets | $11,603,285 |
| Accounts payable and accrued expenses | $1,757,571 |
| Grants payable | $0 |
| Deferred revenue | $9,718 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $39,064 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $13,424,603 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $15,230,956 |
| Net assets without donor restrictions | -$3,627,671 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,603,285 |