Wesley Developments
- Assets
- $279.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- San Diego, CA
- Founding
- 05/1985
- Data as of
- 06/2023
- EIN
- 95-2810896
Organization Overview
Wesley Developments is located in San Diego, CA. The organization was established in 1985. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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 Developments 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 06/2023, Wesley Developments generated $172.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (23.6%) each year. All expenses for the organization totaled $167.8k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (23.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
THE ORGANIZATION PROVIDED LOW-INCOME HOUSING FOR THE ELDERLY AND ALL EXPENDITURES ARE DIRECTED TOWARDS THIS PURPOSE. PRIOR TO SEPTEMBER 6, 2019, THE ENTITY OWNED THE ASSET PROVIDING APARTMENTS TO LOW-INCOME ELDERLY INDIVIDUALS. ON SEPTEMBER 6, 2019, THE ORGANIZATION SOLD THIS ASSET INTO A PARTNERSHIP IT MAINTAINS A GENERAL PARTNER INTEREST IN. THROUGH THIS INVESTMENT, THE ORGANIZATION IS ENSURING THE ASSET MAINTAINS ITS AFFORDABLE NATURE FOR AT LEAST 15 YEARS AND RECEIVES A SIGNIFICANT REHABILITATION IN THE PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Estep President | 0 | $0 | |
Audrey Benjamin Director | 0 | $0 | |
Rev Dr Cuong Nguyen Secretary | 0 | $0 | |
Antoinette Ryder CFO | 0 | $0 | |
Hieu Minh Castle Director | 0 | $0 | |
Joseph Huynh Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $172,473 |
| Membership dues | $0 |
| Investment income | $217 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $134 |
| Total Revenue | $172,824 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $30,774 |
| Total expenses | $167,774 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $171,142 |
| Other assets | $0 |
| Total assets | $279,192 |
| Total liabilities | $107,855 |
| Net assets or fund balances | $171,337 |
Grants Awarded
Over the last fiscal year, Wesley Developments has awarded $180,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WESLEY COMMUNITY SERVICES PURPOSE: WELLNESS PROGRAM | $165,000 |
WESLEY UNITED METHODIST CHURC PURPOSE: WELLNESS PROGRAM | $15,000 |