The Wesley Inc

Analysis

The Wesley Inc is a registered charity in United States, based in Towson, MD. It received its IRS tax-exemption ruling in July 1965, 61 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 November 2023, The Wesley Inc reported income of $264k and spending of $594k, spending 225% of what it took in. Across the 5 years on record, from November 2019 to November 2023, income fell from $268k to $264k (-1.5%), an average of -0.4% a year. The sharpest change came in the year to November 2023, when income rose by 92%. Over the whole period it spent 139% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Wesley Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within MD. Charities of a similar size with the same main cause include Bulverde Thrift Store ($264k), Springs of Living Water ($264k) and Presbyterian Night Shelter Endowment Foundation ($264k).

On its Form 990 for the period ending November 2023, revenue came from contributions and grants 111% of the total. Compensation of current officers, directors and key employees was $147k (25% of expenses). At year end it held assets of $5.1m against liabilities of $954k, net assets of $4.1m. It reported 4 employees.

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.