Wesley at Martin Inc

Analysis

Wesley at Martin Inc is a registered charity in United States, based in Cordova, TN. It received its IRS tax-exemption ruling in January 1993, 33 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 June 2023, Wesley at Martin Inc reported income of $371k and spending of $396k, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $262k to $371k (+42%), an average of +9.1% a year. The sharpest change came in the year to June 2020, when income rose by 24%. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Wesley at Martin Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 67th percentile within TN. Charities of a similar size with the same main cause include Yellow Door Foundation Inc ($371k), Harold Hal Kelley Respite Foundation Inc ($371k) and Missionary Furlough Homes Foundation ($371k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% and program service revenue 39% of the total. Other salaries and wages came to $66k. At year end it held assets of $935k against liabilities of $2.0m, net assets of -$1.0m.

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.