Wesley Foundation at U of M

Analysis

Wesley Foundation at U of M is a registered charity in United States, based in Ann Arbor, MI. It received its IRS tax-exemption ruling in January 2021, 5 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wesley Foundation at U of M reported income of $129k and spending of $178k, spending 137% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $107k to $129k (+21%), an average of +6.6% a year. The sharpest change came in the year to December 2021, when income rose by 46%. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wesley Foundation at U of M sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 43rd percentile within MI. Charities of a similar size with the same main cause include Tri-County Central Office Inc ($129k), Chester Co-Operative Preschool ($129k) and Wayland High School Scholarship Committee ($129k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% of the total. Compensation of current officers, directors and key employees was $90k (51% of expenses). Other salaries and wages came to $8,568. It paid $1,053 in professional fundraising fees. At year end it held assets of $2.8m against liabilities of $0, net assets of $2.8m. It reported 2 employees.