Wesley Homes Inc
- Assets
- $19.8m
- Revenue
- $14.2m
- Investments
- $0.0
- Employees
- 99
- Location
- Atlanta, GA
- Founding
- 03/1961
- Data as of
- 08/2023
- 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 08/2023, Wesley Homes Inc employed 99 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 08/2023, Wesley Homes Inc generated $14.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $14.4m during the year ending 08/2023. While expenses have increased by 2.8% 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
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. WESLEY HOMES HAD A TOTAL OF 51 RENTAL UNITS AVAILABLE WITH AN AVERAGE OCCUPANCY RATE OF 94.24% FOR FISCAL YEAR 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Barcroft President & CEO | OfficerTrustee | 13 | $0 |
Lauri Ann Brooks Director, Vpo | OfficerTrustee | 12 | $0 |
Glenn Warren Chair | OfficerTrustee | 1 | $0 |
Cathie Berger Director | Trustee | 1 | $0 |
Diane Vaughan Director | Trustee | 1 | $0 |
Brandon Valasek CFO & Secretary/treasurer | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $781,181 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $631,317 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,412,498 |
| Total Program Service Revenue | $12,700,981 |
| Investment income | $11,931 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $206 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,208,058 |
| 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 | $3,382,670 |
| Pension plan accruals and contributions | $129,780 |
| Other employee benefits | $558,384 |
| Payroll taxes | $260,290 |
| Fees for services: Management | $813,025 |
| Fees for services: Legal | $35,405 |
| Fees for services: Accounting | $105,534 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,463,591 |
| Advertising and promotion | $186,888 |
| Office expenses | $689,921 |
| Information technology | $38,278 |
| Royalties | $0 |
| Occupancy | $3,183,921 |
| Travel | $43,125 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $54,870 |
| Interest | $11,657 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,164,244 |
| Insurance | $536,336 |
| All other expenses | $81,494 |
| Total functional expenses | $14,436,256 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,008,377 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $102,699 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $68,955 |
| Prepaid expenses and deferred charges | $490,687 |
| Net Land, buildings, and equipment | $11,039,219 |
| Investments—publicly traded securities | $2,724,390 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,379,624 |
| Total assets | $19,813,951 |
| Accounts payable and accrued expenses | $1,077,247 |
| Grants payable | $0 |
| Deferred revenue | $12,643 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $434,701 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,105,220 |
| Unsecured mortgages and notes payable | $325,000 |
| Other liabilities | $0 |
| Total liabilities | $11,954,811 |
| Net assets without donor restrictions | $6,709,293 |
| Net assets with donor restrictions | $1,149,847 |
| 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 | $19,813,951 |