Wesley Housing Development Corporation

Analysis

Wesley Housing Development Corporation is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in September 1975, 51 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 Housing Development Corporation reported income of $14.0m and spending of $14.9m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $10.6m to $14.0m (+32%), an average of +7.2% a year. The sharpest change came in the year to December 2020, when income rose by 58%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wesley Housing Development Corporation sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within VA. Charities of a similar size with the same main cause include St John Lutheran Care Center ($14.0m), Arundel Lodge Inc ($14.0m) and Stone Child College Corporation ($14.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $1.7m (12% of expenses). At year end it held assets of $84.5m against liabilities of $58.6m, net assets of $25.9m. It reported 150 employees.