Wesley Apartments-A Methodist Home For The Aging Inc
- Assets
- $1.8m
- Revenue
- $740.0k
- Investments
- $0.0
- Employees
- 8
- Location
- Birmingham, AL
- Founding
- 09/1983
- Data as of
- 06/2021
- EIN
- 63-0851067
Organization Overview
Wesley Apartments-A Methodist Home For The Aging Inc is located in Birmingham, AL. The organization was established in 1983. 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. As of 06/2021, Wesley Apartments-A Methodist Home For The Aging Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesley Apartments-A Methodist Home For The Aging 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 06/2021, Wesley Apartments-A Methodist Home For The Aging Inc generated $740.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $686.4k during the year ending 06/2021. 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
SUBSIDIZED HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING PROVIDED FOR ELDERLY AND ECONOMICALLY DISADVANTAGED. PROJECT FINANCING WAS WITH HUD SECTION 8 AND 207 FUNDS.
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maudine Holloway Chair | OfficerTrustee | 0 | $0 |
Rev Thomas L Hammonds Jr Vice Chair | OfficerTrustee | 0 | $0 |
James W Steel Secretary | OfficerTrustee | 0 | $0 |
W Bruce Akins Cfo-Mha | Officer | 0 | $0 |
Christopher Tomlin Ceo-Mha | Officer | 0 | $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 | $739,988 |
| Investment income | $11 |
| 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 | $739,999 |
| 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 | $138,067 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,538 |
| Payroll taxes | $10,403 |
| Fees for services: Management | $33,598 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $254 |
| Office expenses | $19,160 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $245,770 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $111,917 |
| Insurance | $2,041 |
| All other expenses | $2,526 |
| Total functional expenses | $686,359 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,804 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,400 |
| 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 | $32,339 |
| Net Land, buildings, and equipment | $1,449,744 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $251,490 |
| Total assets | $1,759,777 |
| Accounts payable and accrued expenses | $264,742 |
| 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 | $2,583,965 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $453,293 |
| Total liabilities | $3,302,000 |
| Net assets without donor restrictions | -$1,542,223 |
| 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 | $1,759,777 |
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