Wesco Industries
- Assets
- $6.4m
- Revenue
- $10.5m
- Investments
- $0.0
- Employees
- 201
- Location
- Denison, IA
- Founding
- 12/1966
- Data as of
- 06/2023
- EIN
- 42-6098004
Organization Overview
Wesco Industries is located in Denison, IA. The organization was established in 1966. According to its NTEE Classification (J33) the organization is classified as: Sheltered Employment, under the broad grouping of Employment and related organizations. As of 06/2023, Wesco Industries employed 201 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesco Industries 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 06/2023, Wesco Industries generated $10.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $9.6m during the year ending 06/2023. While expenses have increased by 7.6% per year over the past 8 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
SERVE PERSONS WITH MENTAL AND PHYSICAL DISABILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL-SITE 1 $ 295,954 RESIDENTIAL-SITE 2 243,682 RESIDENTIAL-SITE 3 279,558 RESIDENTIAL-SITE 4 291,697 RESIDENTIAL-SITE 5 298,991 RESIDENTIAL-SITE 6 285,973 RESIDENTIAL-SITE 7 257,309 RESIDENTIAL-SITE 12 335,090 RESIDENTIAL-SITE 13 272,992 RESIDENTIAL-SITE 14 314,543 RESIDENTIAL-SITE 17 284,621 RESIDENTIAL-SITE 18 304,976 RESIDENTIAL-SITE 20 292,240 RESIDENTIAL-SITE 21 278,272 TRANSITION HOME 507,188
SUPPORTED COMMUNITY LIVING, RESPITE, CDAC 665,788 SUPPORTED EMPLOYMENT, ENCLAVE 494,397 DAY HAB 505,243 ADULT DAY SERVICES 461,780 CAMELOT RENTAL 43,607 BUSINESS SERVICES 328,425 MISC & UNALLOCATED FACILITY EXPENSE 802,780
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clayton Adams Executive Director | 40 | $141,931 | |
Deidra Brown Assistant Executive Director | 40 | $110,159 | |
Donna Schurke Finance Director | 40 | $103,075 | |
Stephanie Hausman Director | Trustee | 0 | $0 |
Sandy Quandt Secretary | OfficerTrustee | 0 | $0 |
Eric Skoog Vice President | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $239,414 |
| All other contributions, gifts, grants, and similar amounts not included above | $602,897 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $842,311 |
| Total Program Service Revenue | $9,687,554 |
| Investment income | $1,923 |
| 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 | $10,531,788 |
| 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. | $164,899 |
| Compensation of current officers, directors, key employees. | $164,899 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,659,839 |
| Pension plan accruals and contributions | $56,639 |
| Other employee benefits | $675,345 |
| Payroll taxes | $585,001 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $542 |
| Fees for services: Accounting | $33,475 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $238,373 |
| Advertising and promotion | $91,602 |
| Office expenses | $50,860 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $134,968 |
| Travel | $184,475 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,157 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,597 |
| Insurance | $54,605 |
| All other expenses | $65,096 |
| Total functional expenses | $9,624,115 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $430,602 |
| Savings and temporary cash investments | $3,889,855 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $797,801 |
| 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 | $53,739 |
| Net Land, buildings, and equipment | $1,235,963 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,407,960 |
| Accounts payable and accrued expenses | $785,958 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $785,958 |
| Net assets without donor restrictions | $5,622,002 |
| 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 | $6,407,960 |