Wealth Watchers Inc
- Assets
- $7.0m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 15
- Location
- Jacksonville, FL
- Founding
- 07/2002
- Data as of
- 12/2021
- EIN
- 01-0638984
Organization Overview
Wealth Watchers Inc is located in Jacksonville, FL. The organization was established in 2002. 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 12/2021, Wealth Watchers Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wealth Watchers 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, Wealth Watchers Inc generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $3.0m during the year ending 12/2021. While expenses have increased by 14.4% per year over the past 7 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
THE MISSION OF WEALTH WATCHERS INC. IS TO BUILD VIABLE COMMUNITIES BY EXPANDING THE EDUCATION AND KNOWLEDGE OF INDIVIDUALS, FAMILIES, AND COMMUNITIES FOR THE PURPOSE OF UNDERSTANDING AND APPLYING ESSENTIAL FINANCIAL STRATEGIES THAT LEADS TO THE ACCUMULATION OF GENERATIONAL WEALTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WEALTH WATCHERS INC. IS A SUBSTANTIAL CONTRIBUTOR TO THE ECONOMIC SUSTAINABILITY IN URBAN AND RURAL COMMUNITIES THROUGHOUT FLORIDA AND GEORGIA. WEALTH WATCHERS PROVIDES PRODUCTS AND SERVICES THAT CREATE A PROSPEROUS, THRIVING ECOSYSTEM THAT IS THE CATALYST FOR ECONOMIC DEVELOPMENT, WORKFORCE DEVELOPMENT, HOME OWNERSHIP AND OTHER QUALITY HOUSING OPTIONS. THESE PRODUCTS AND SERVICES CONTRIBUTE TO THE OVERALL WEALTH AND STABILITY OF THE PEOPLE AND COMMUNITIES IT SERVES. WEALTH WATCHERS IS COMMITTED TO ENSURING THAT ALL RESIDENTS HAVE A VOICE AND WE BELIEVE THAT RESIDENT LEADERSHIP AND ENGAGEMENT ARE ESSENTIAL TO ENSURING WE ARE BUILDING VIABLE COMMUNITIES. WEALTH WATCHERS IS A CHARTERED MEMBER OF NEIGHBORWORKS AMERICA, A NETWORK OF THE TOP HIGH IMPACT AND COLLABORATIVE COMMUNITY DEVELOPMENT AND HOUSING COUNSELING ORGANIZATIONS IN THE COUNTRY.
WEALTH WATCHERS, INC. IS AMONG MANY ORGANIZATIONS IN NORTH FLORIDA PROMOTING THE NEED FOR AFFORDABLE HOUSING IN JACKSONVILLE, FL, AND THE SURROUNDING COMMUNITIES. THE ORGANIZATION HAS A COMBINATION OF SINGLE- FAMILY HOMES AND MULTI-UNIT PROPERTIES CURRENTLY RENTED TO LOW- AND MEDDLE-INCOME FAMILIES. WEALTH WATCHERS, INC. CONTRIBUTION TO AFFORDABLE RENTAL HOUSING PROMOTES ECONOMIC DIVERSITY AND THE CREATION OR SUSTAINING OF MIXED-INCOME NEIGHBORHOODS. PRESERVING AFFORDABLE RENTALS ALSO ALLOWS LONGTIME RESIDENTS TO REMAIN IN THEIR NEIGHBORHOODS. WEALTH WATCHERS CONTINUES TO MEET THE DEMAND FOR AFFORDABLE RENTAL HOUSING THROUGH COLLABORATION AMONG GOVERNMENT, PRIVATE, AND PUBLIC FUNDING SOURCES. THESE GROUPS ARE MOTIVATED TO PRESERVE AFFORDABLE HOUSING BECAUSE OF ITS IMPACT AT THE INDIVIDUAL HOUSEHOLD, NEIGHBORHOOD, AND COMMUNITY LEVEL. FOR SOME HOUSEHOLDS, PRESERVATION SAFEGUARDS AFFORDABILITY DURING A TIME OF RISING HOUSING COSTS AND SHRINKING INCOMES. IT FURTHER HELPS TO REVITALIZE AND STABILIZE NEIGHBORHOODS THAT CAN OFFER ACCESS TO OPPORTUNITY.
WEALTH WATCHERS IS A HUD CERTIFIED HOUSING COUNSELING AGENCY THAT IS COMMITTED TO PROVIDING A CYCLICAL APPROACH TO BUILDING WEALTH AMONG CITIZENS IN FLORIDA. WEALTH WATCHERS PROVIDES FINANCIAL COACHING, HOUSING COUNSELING AND EDUCATIONAL SERVICES TO INDIVIDUALS AND FAMILIES IN VARIOUS PARTS OF FLORIDA. WEALTH WATCHERS IS A MEMBER OF THE HOMEFREE USA HUD INTERMEDIARY NETWORK AND UNDERSTANDS THE IMPORTANCE OF EXPANDING THE KNOWLEDGE OF ALL INDIVIDUALS ESPECIALLY THOSE IN THE LOW TO MIDDLE INCOME BRACKET, FOR THE PURPOSE OF UNDERSTANDING THE IMPORTANCE OF BASIC FINANCE AND THE ACCUMULATION OF WEALTH. RECOGNIZING THAT HOMEOWNERSHIP IS THE MAIN VEHICLE FOR BUILDING WEALTH AMONG MANY CITIZENS, WEALTH WATCHERS POSITIONS ITSELF TO BE A VIABLE RESOURCE FOR CITIZENS PURSUING HOMEOWNERSHIP OPPORTUNITIES AND THOSE WHO WERE IN JEOPARDY OF LOSING THEIR HOMES DUE TO FORECLOSURE.
WEALTH WATCHERS, INC. THROUGH FUNDS RECEIVED FROM USDA RURAL MICRO- ENTREPRENEUR ASSISTANT PROGRAM (RMAP) IS PROVIDING LOANS TO SMALL BUSINESSES IN RURAL AREAS OF NORTHEAST FLORIDA AND SOUTHEAST, SOUTHWEST, AND CENTRAL GEORGIA. THE ORGANIZATION CURRENTLY HAS EXTENDED FOUR LOANS TO VARIOUS SMALL BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carrie Davis President/ce | Officer | 40 | $92,500 |
Edward Gatson COO | Officer | 40 | $80,636 |
Alyce Denson VP Of Operat | Officer | 40 | $67,954 |
Jacqueline Gray Member | Trustee | 0.25 | $0 |
Harvey Harper Member | Trustee | 0.25 | $0 |
Andre Higgins Board Treasu | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,404,622 |
| All other contributions, gifts, grants, and similar amounts not included above | $384,885 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,789,507 |
| Total Program Service Revenue | $301,083 |
| Investment income | $0 |
| 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 | $3,090,590 |
| 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 | $483,093 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,959 |
| Payroll taxes | $37,520 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,255 |
| Fees for services: Accounting | $15,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $43,052 |
| Office expenses | $29,196 |
| Information technology | $51,686 |
| Royalties | $0 |
| Occupancy | $66,478 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $31,059 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $139,015 |
| Insurance | $49,710 |
| All other expenses | $197,540 |
| Total functional expenses | $3,033,124 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,157,114 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $60,655 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $208,397 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $35,337 |
| Net Land, buildings, and equipment | $17,766 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,549,983 |
| Total assets | $7,029,252 |
| Accounts payable and accrued expenses | $1,687 |
| Grants payable | $0 |
| Deferred revenue | $34,056 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $783,524 |
| Other liabilities | $445,942 |
| Total liabilities | $1,265,209 |
| Net assets without donor restrictions | $3,423,298 |
| Net assets with donor restrictions | $2,340,745 |
| 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 | $7,029,252 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wealth Watchers Inc has recieved totaling $22,375.
| Awarding Organization | Amount |
|---|---|
Homefree Usa Inc Landover, MD PURPOSE: Property purchased for renovation and sale ot low and moderate income potential home owners. | $22,375 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Andrews Residence Of The Diocese Of Southeast Florida Inc West Palm Beach, FL | $295,539 | $24,065,641 |
Lavender Mountain Senior Living Inc Mount Berry, GA | $141,195,331 | $5,176,789 |
Westminster Pines Inc Orlando, FL | $103,132,021 | $15,458,662 |
Skidaway Health And Living Services Inc Savannah, GA | $89,340,251 | $17,567,308 |
Palm Shores Retirement Community Inc Orlando, FL | $37,421,751 | $16,521,390 |
St George Village-Catholic Community Retirement Center Roswell, GA | $71,436,640 | $13,654,810 |
Wesley Homes Inc Atlanta, GA | $20,385,914 | $13,715,520 |
Tampa Life Plan Village Inc Tampa, FL | $57,175,002 | $4,514,952 |
Jewish Home Life Communities Inc Atlanta, GA | $30,539,364 | $15,353,434 |
Presbyterian Retirement Homes Of Birmingham Inc Birmingham, AL | $21,717,222 | $12,145,816 |
Senior Living Foundation Inc Perimeter 400 Center Dunwoody, GA | $12,804,149 | $11,238,892 |
University Plaza Rehabilitation And Nursing Center Inc N Miami Beach, FL | $4,092,400 | $13,157,641 |