Wesley Towers Inc
- Assets
- $25.4m
- Revenue
- $9.6m
- Investments
- $0.0
- Employees
- 209
- Location
- Hutchinson, KS
- Founding
- 07/1974
- Data as of
- 06/2022
- EIN
- 48-0803058
Organization Overview
Wesley Towers Inc is located in Hutchinson, KS. The organization was established in 1974. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 06/2022, Wesley Towers Inc employed 209 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesley Towers 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 06/2022, Wesley Towers Inc generated $9.6m 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 (4.5%) each year. All expenses for the organization totaled $11.2m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 7 years. 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
OPERATION OF A RETIREMENT COMPLEX FOR THE ELDERLY INCLUDING THE PROVIDING OF FACILITIES, SERVICES, HEALTHCARE, AND REHABILITATION FOR RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A RETIREMENT COMPLEX FOR THE ELDERLY INCLUDING THE PROVIDING OF FACILITIES, SERVICES, HEALTHCARE, AND REHABILITATION FOR RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Berger Chair | OfficerTrustee | 1 | $0 |
Garth Strand Vice Chair | OfficerTrustee | 1 | $0 |
Mike Evans Treasurer | OfficerTrustee | 1 | $0 |
Shannon Holmberg Secretary | OfficerTrustee | 1 | $0 |
Rev Dr David Wilson Bishop | OfficerTrustee | 1 | $0 |
Lowell Downey Resident Rep. | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Krieg Co Llc Renovation | 6/29/22 | $345,807 |
Sysco Services Food Distributor | 6/29/22 | $329,301 |
Summit Care Inc Therapy Service | 6/29/22 | $361,359 |
Cash-wa Distributing Food Food Distributor | 6/29/22 | $209,038 |
Sallee Lawn Care Lawn Care | 6/29/22 | $194,464 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $922,635 |
| All other contributions, gifts, grants, and similar amounts not included above | $35,344 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $957,979 |
| Total Program Service Revenue | $8,706,861 |
| Investment income | $4,715 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$69,240 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,600,315 |
| 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. | $192,757 |
| Compensation of current officers, directors, key employees. | $192,757 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,637,396 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $405,453 |
| Payroll taxes | $357,481 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,021,835 |
| Advertising and promotion | $0 |
| Office expenses | $424,562 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $462,999 |
| Travel | $11,227 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $325,153 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,281,178 |
| Insurance | $228,244 |
| All other expenses | $41,114 |
| Total functional expenses | $11,241,519 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,382 |
| Savings and temporary cash investments | $1,097,395 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $637,937 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $152,736 |
| Prepaid expenses and deferred charges | $59,777 |
| Net Land, buildings, and equipment | $14,106,357 |
| Investments—publicly traded securities | $593,053 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,721,945 |
| Total assets | $25,371,582 |
| Accounts payable and accrued expenses | $1,144,331 |
| Grants payable | $0 |
| Deferred revenue | $217,543 |
| Tax-exempt bond liabilities | $5,920,295 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,926,833 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $18,209,002 |
| Net assets without donor restrictions | $2,301,302 |
| Net assets with donor restrictions | $4,861,278 |
| 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 | $25,371,582 |