The Wesley Foundation Inc
- Assets
- $5.5m
- Revenue
- $735.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Saratoga Springs, NY
- Founding
- 11/1998
- Data as of
- 12/2023
- EIN
- 22-3642737
Organization Overview
The Wesley Foundation Inc is located in Saratoga Springs, NY. The organization was established in 1998. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesley Foundation 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 12/2023, Wesley Foundation Inc generated $735.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (12.9%) each year. All expenses for the organization totaled $903.3k during the year ending 12/2023. 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
THE WESLEY FOUNDATION RAISES PHILANTHROPIC RESOURCES TO SUPPORT THE MISSION OF UNITED METHODIST HEALTH AND HOUSING THROUGH FUND RAISING ACTIVITIES INCLUDING BUT NOT LIMITED TO ANNUAL CAMPAIGNS, PLANNED GIVING PROGRAMS, MAJOR GIFT PROGRAMS AND EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WESLEY FOUNDATION RAISES FUNDS TO SUPPORT WESLEY'S MISSION OF PROVIDING FACILITIES, SERVICES AND EDUCATION TO THE ELDERLY AND THOSE OF ALL AGES WITH DISABLING CONDITIONS. THROUGH CHARITABLE SUPPORT, THE FOUNDATION PROVIDES FUNDS FOR LIFE-CHANGING TECHNOLOGY, EXPANDED SERVICES AND IMPROVEMENTS TO OUR FACILITY, STAFF TRAINING AND EDUCATION, PROGRAM ENHANCEMENT AND NEW EQUIPMENT. THE WESLEY FOUNDATION RECEIVES SUPPORT FROM MANY CONSTITUENTS INCLUDING BOARD MEMBERS, INDIVIDUAL DONORS, CORPORATE CONTRIBUTORS, STAFF, RESIDENT FAMILIES AND THE SARATOGA AREA COMMUNITY AT LARGE. THIS DIVERSE GROUP INVESTS IN THE FOUNDATION TO HELP US FURTHER OUR MISSION. THE WESLEY COMMUNITY AS A WHOLE HAS EMBRACED A PHILANTHROPIC CULTURE. ON BEHALF OF THE WESLEY COMMUNITY, MANAGEMENT DONATES OVER 750 HOURS PER YEAR OF THEIR OWN TIME TO LOCAL ORGANIZATIONS TO FURTHER SUPPORT THE NOT-FOR-PROFIT NEEDS IN OUR COMMUNITY. WE HAVE STAFF MEMBERS REGULARLY CONTRIBUTING THEIR OWN TIME TO THE ALZHEIMER'S ASSOCIATION, THE SARATOGA PLANNING BOARD, SARATOGA ARTSFEST, THE SARATOGA SPRINGS LIONS CLUB, SARATOGA ROTARY, LEADERSHIP SARATOGA AND THE SARATOGA COUNTY CHAMBER OF COMMERCE, TO NAME A FEW. ADDITIONALLY, THE WESLEY CAMPUS REGULARLY HOSTS THE ACTIVITIES AND MEETINGS OF OVER 15 NOT-FOR-PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Brian Nealon CEO | Officer | 5 | $0 |
Shelly Amato Cso | Officer | 5 | $0 |
Katherine Lahoff CFO | Officer | 5 | $0 |
Kevin Tully President | OfficerTrustee | 5 | $0 |
Beth Brucker-Kane Director | Trustee | 3 | $0 |
George Carlson Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $233,840 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $290,044 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $523,884 |
| Total Program Service Revenue | $0 |
| Investment income | $188,574 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $28,698 |
| Net Income from Fundraising Events | -$5,470 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $735,686 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,548 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,296 |
| Fees for services: Other | $63,195 |
| Advertising and promotion | $0 |
| Office expenses | $2,560 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $213 |
| 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 | $719,798 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $903,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,766 |
| Savings and temporary cash investments | $3,212,167 |
| Pledges and grants receivable | $248,377 |
| 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 | $6,450 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,890,362 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,491,122 |
| Accounts payable and accrued expenses | $35,336 |
| Grants payable | $0 |
| Deferred revenue | $128,565 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $163,901 |
| Net assets without donor restrictions | $646,411 |
| Net assets with donor restrictions | $4,680,810 |
| 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 | $5,491,122 |