Wesley Rydell Housing Corporation

Analysis

Wesley Rydell Housing Corporation is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in November 2006, 20 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wesley Rydell Housing Corporation reported income of $1.8m and spending of $1.9m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.1m to $1.8m (-14%), an average of -3.6% a year. The sharpest change came in the year to December 2020, when income dropped by 21%. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Wesley Rydell Housing Corporation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within VA. Charities of a similar size with the same main cause include Tcs-1 ($1.8m), Oregon Corporation for Affordable Housing ($1.8m) and Genesis Lifecare Corp ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $178k. At year end it held assets of $11.6m against liabilities of $15.2m, net assets of -$3.6m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.