Wesley-Asbury Inc
- Assets
- $551.4k
- Revenue
- $693.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Cordova, TN
- Founding
- 09/1993
- Data as of
- 12/2021
- EIN
- 58-2064631
Organization Overview
Wesley-Asbury Inc is located in Cordova, TN. The organization was established in 1993. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., 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-Asbury 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 12/2021, Wesley-Asbury Inc generated $693.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.0%) each year. All expenses for the organization totaled $884.6k during the year ending 12/2021. 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
PROVIDE HOUSING AND SERVICES AS A LICENSED RESIDENTIAL HOME FOR THE AGED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION AND MAINTENANCE OF HOUSING FACILITIES FOR ELDERLY CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Lou Cushing Secretary/treasurer | OfficerTrustee | 1 | $0 |
Rev Andrew Thompson Chairperson | OfficerTrustee | 1 | $0 |
Nancy Albonetti Vice Chairperson | OfficerTrustee | 1 | $0 |
Donald Ollio Non-Voting CFO | Officer | 1 | $0 |
James C Nasso Non-Voting CEO | Officer | 1 | $0 |
Ronald Budynas Non-Voting COO | Officer | 1 | $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 | $693,872 |
| Investment income | $44 |
| 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 | $693,916 |
| 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 | $313,653 |
| Pension plan accruals and contributions | $5,299 |
| Other employee benefits | $36,141 |
| Payroll taxes | $27,303 |
| Fees for services: Management | $48,041 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,440 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,973 |
| Office expenses | $10,673 |
| Information technology | $6,183 |
| Royalties | $0 |
| Occupancy | $320,118 |
| Travel | $289 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,638 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $73,876 |
| Insurance | $0 |
| All other expenses | $37,930 |
| Total functional expenses | $884,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,072 |
| Savings and temporary cash investments | $33,720 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,630 |
| 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 | $115,082 |
| Net Land, buildings, and equipment | $306,184 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $8,700 |
| Other assets | $0 |
| Total assets | $551,388 |
| Accounts payable and accrued expenses | $423,640 |
| Grants payable | $0 |
| Deferred revenue | $2,355 |
| Tax-exempt bond liabilities | $565,251 |
| 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 | $12,273 |
| Total liabilities | $1,003,519 |
| Net assets without donor restrictions | -$452,131 |
| 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 | $551,388 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wesley-Asbury Inc has recieved totaling $5,400.
| Awarding Organization | Amount |
|---|---|
Wesley Housing Corp Of Memphis Inc Cordova, TN PURPOSE: TO ASSIST IN PROVIDING HOUSING AND SERVICES FOR THE ELDERLY | $5,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lutheran Home-Hickory West Inc Salisbury, NC | $4,616,109 | $14,117,518 |
Lutheran Home - Wilmington Inc Salisbury, NC | $3,485,965 | $12,654,546 |
Community Affordable Housing Equity Corporation Raleigh, NC | $30,228,876 | $11,307,712 |
Metropolitan Lutheran Ministry Kansas City, MO | $5,622,627 | $11,500,052 |
Healing Place Inc Louisville, KY | $37,666,074 | $13,853,449 |
Open Doors Homeless Coalition Gulfport, MS | $1,664,435 | $10,386,178 |
Lutheran Home-Albemarle Inc Salisbury, NC | $5,090,743 | $9,142,249 |
Chambliss Center For Children Chattanooga, TN | $13,773,339 | $7,553,657 |
Southeast Alabama Community Action Partnership Inc Enterprise, AL | $872,465 | $5,704,500 |
Passage Home Inc Raleigh, NC | $13,185,958 | $5,411,567 |
Covenant House Georgia Inc Atlanta, GA | $22,755,199 | $6,304,494 |
Seacliff Village Shopping Center Inc Charlotte, NC | $151,078,311 | $8,901,233 |