Wesley Homes Inc
- Assets
- $20.4m
- Revenue
- $13.7m
- Investments
- $0.0
- Employees
- 109
- Location
- Atlanta, GA
- Founding
- 03/1961
- Data as of
- 08/2021
- EIN
- 58-0909393
Organization Overview
Wesley Homes Inc is located in Atlanta, GA. The organization was established in 1961. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 08/2021, Wesley Homes Inc employed 109 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesley Homes Inc 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 08/2021, Wesley Homes Inc generated $13.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $13.3m during the year ending 08/2021. While expenses have increased by 2.4% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO CREATE COMMUNITIES OF CONNECTION, WELL-BEING AND PROMISE
Describe the Organization's Program Activity:
Part 3 - Line 4a
WESLEY HOMES, INC OPERATES FIVE RETIREMENT APARTMENT COMMUNITIES SERVING MODERATE, LOW, VERY LOW AND EXTREMELY LOW-INCOME OLDER ADULTS. SERVICES INCLUDE BUILDING AND APARTMENT MAINTENANCE, GROUNDS MAINTENANCE, 24-HOUR STAFFING, WELLNESS AND LIFE ENRICHMENT PROGRAMS AND SERVICE COORDINATION. SOME COMMUNITIES OFFER LICENSED PERSONAL CARE SERVICES AND DINING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith Gadd CFO & Secretary/treasurer | OfficerTrustee | 1 | $0 |
Terry Barcroft President & CEO | OfficerTrustee | 4 | $0 |
Randy Gerig CFO & Secretary/treasurer | OfficerTrustee | 4 | $0 |
Glenn Warren Chair | OfficerTrustee | 1 | $0 |
Lauri Ann Brooks Vpo | Officer | 12 | $0 |
Cathie Berger Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,549,686 |
| 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 | $1,549,686 |
| Total Program Service Revenue | $12,029,179 |
| Investment income | $4,653 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $553 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,715,520 |
| 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 | $3,541,279 |
| Pension plan accruals and contributions | $139,303 |
| Other employee benefits | $569,581 |
| Payroll taxes | $254,581 |
| Fees for services: Management | $770,885 |
| Fees for services: Legal | $8,560 |
| Fees for services: Accounting | $103,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $973,917 |
| Advertising and promotion | $136,961 |
| Office expenses | $642,007 |
| Information technology | $29,780 |
| Royalties | $0 |
| Occupancy | $2,888,986 |
| Travel | $11,113 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $29,999 |
| Interest | $11,648 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,431,888 |
| Insurance | $326,250 |
| All other expenses | $78,246 |
| Total functional expenses | $13,329,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,792,899 |
| Savings and temporary cash investments | $500,893 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $75,315 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $71,779 |
| Prepaid expenses and deferred charges | $316,626 |
| Net Land, buildings, and equipment | $12,261,154 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,367,248 |
| Total assets | $20,385,914 |
| Accounts payable and accrued expenses | $1,114,974 |
| Grants payable | $0 |
| Deferred revenue | $23,616 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $404,342 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,698,301 |
| Unsecured mortgages and notes payable | $325,000 |
| Other liabilities | $0 |
| Total liabilities | $12,566,233 |
| Net assets without donor restrictions | $7,178,256 |
| Net assets with donor restrictions | $641,425 |
| 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 | $20,385,914 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wesley Homes Inc has recieved totaling $30,187.
| Awarding Organization | Amount |
|---|---|
Atlanta Community Food Bank Inc Atlanta, GA PURPOSE: SEE PART IV | $30,187 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St James Residence Of The Palm Beaches Inc West Palm Beach, FL | $94,288 | $38,104,096 |
Arbor Acres United Methodist Retirement Community Inc Winstonsalem, NC | $155,220,604 | $40,394,713 |
Chapel Hill Residential Retirement Center Inc Chapel Hill, NC | $120,640,930 | $31,949,437 |
Carolina Village Inc Hendersonville, NC | $124,169,436 | $34,185,742 |
Orlando Lutheran Towers Inc Orlando, FL | $80,032,894 | $34,936,633 |
Galloway Ridge Inc Pittsboro, NC | $130,866,786 | $36,150,184 |
Bonita Springs Retirement Village Inc Gainesville, FL | $109,847,615 | $18,938,390 |
Federation Gulfstream Housing Inc Boca Raton, FL | $0 | $28,667,255 |
Redstone Military Retirement Residence Association Huntsville, AL | $75,839,783 | $19,548,176 |
Concordia Of Florida Inc Tampa, FL | $31,059,059 | $25,497,159 |
St Andrews Residence Of The Diocese Of Southeast Florida Inc West Palm Beach, FL | $295,539 | $24,065,641 |
Cypress Of Charlotte Club Inc Charlotte, NC | $4,602,507 | $19,033,502 |