Wesley Tower Inc
- Assets
- $7.3m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 6
- Location
- Pasadena, CA
- Founding
- 03/1985
- Data as of
- 03/2022
- EIN
- 95-3918349
Organization Overview
Wesley Tower Inc is located in Pasadena, CA. The organization was established in 1985. 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 03/2022, Wesley Tower Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesley Tower 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 03/2022, Wesley Tower Inc generated $2.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $1.3m during the year ending 03/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW INCOME HOUSING TO ELDERLY AND HANDICAPPED PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A NON-PROFIT APARTMENT COMPLEX RENTING TO LOW INCOME, HANDICAPPED OR ELDERLY PERSONS. THE OPERATIONS ARE REGULATED AND CONTROLLED BY U.S. DEPT. OF HUD. A COIN OPERATED LAUNDRY FACILITY IS PROVIDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jane Casey Treasurer | OfficerTrustee | 1 | $0 |
Revis Call Vice President | OfficerTrustee | 1 | $0 |
Elvan Moen President | OfficerTrustee | 1 | $0 |
Lisa Fike Secretary | OfficerTrustee | 1 | $0 |
Brian Casey Director | Trustee | 1 | $0 |
Robert Anderson Director | Trustee | 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 | $1,853,792 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,853,792 |
| Total Program Service Revenue | $400,421 |
| Investment income | $4,821 |
| 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 | $2,259,034 |
| 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 | $192,777 |
| Pension plan accruals and contributions | $5,829 |
| Other employee benefits | $29,308 |
| Payroll taxes | $15,630 |
| Fees for services: Management | $100,205 |
| Fees for services: Legal | $52 |
| Fees for services: Accounting | $29,955 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $191,793 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $219,473 |
| Insurance | $40,233 |
| All other expenses | $117,116 |
| Total functional expenses | $1,301,717 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $319,948 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $18,080 |
| Net Land, buildings, and equipment | $2,682,527 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,992,692 |
| Intangible assets | $0 |
| Other assets | $1,266,419 |
| Total assets | $7,279,666 |
| Accounts payable and accrued expenses | $64,411 |
| 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 | $5,017,867 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $33,786 |
| Total liabilities | $5,116,064 |
| Net assets without donor restrictions | $2,163,602 |
| 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 | $7,279,666 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wesley Tower Inc has recieved totaling $5,244.
| Awarding Organization | Amount |
|---|---|
Wesley Homes Inc Burbank, CA PURPOSE: TO SUPPORT LOW INCOME HOUSING FOR THE ELDERLY | $5,244 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hollenbeck Palms Los Angeles, CA | $91,601,425 | $22,351,666 |
899 Charleston Palo Alto, CA | $143,487,864 | $17,017,896 |
Bay Area Senior Services Inc San Mateo, CA | $56,248,028 | $16,762,634 |
Midpen Property Management Corporation Foster City, CA | $4,229,808 | $16,638,795 |
Casa La Merced Inc C/O Falkenberg/Gilliam & Associates Pasadena, CA | $0 | $52,026 |
Scott Street Senior Housing Complex Incorporated San Francisco, CA | $43,555,702 | $18,828,763 |
Sun Health Colonnade Sun City West, AZ | $94,057,593 | $16,072,885 |
Palo Alto Senior Housing Project Inc Palo Alto, CA | $9,912,770 | $1,163,322 |
Christian Care Tucson Inc Phoenix, AZ | $29,450,689 | $13,520,695 |
Alma Via Of San Francisco Alameda, CA | $25,364,635 | $12,193,885 |
Seascape Senior Housing Inc Walnut Creek, CA | $1,410,799 | $12,833,123 |
Meadowbrook Village Christian Retirement Community Escondido, CA | $70,664,658 | $10,740,685 |