Wesley Homes Lake County Inc

Organization Overview

Wesley Homes Lake County Inc is located in Cordova, TN. The organization was established in 1981. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wesley Homes Lake County 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, Wesley Homes Lake County Inc generated $503.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $438.8k during the year ending 12/2021. While expenses have increased by 0.6% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE HOUSING AND SERVICES TO VERY LOW AND EXTREMELY LOW INCOME ELDERLY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

WESLEY HOMES LAKE COUNTY, INC IS A NOT-FOR-PROFIT CORPORATION FORMED IN MAY 1978 IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF TENNESSEE. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 50-UNIT COMMUNITY LOCATED IN TIPTONVILLE, TENNESSEE KNOWN AS WESLEY APARTMENTS, WHICH PROVIDES HOUSING AND RELATED SERVICES FOR VERY LOW ELDERLY PERSONS PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $353,995
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$353,995
Total Program Service Revenue$150,108
Investment income $20
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$1,076
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $503,047

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