Wesley Manor Retirement Community Inc

Analysis

Wesley Manor Retirement Community Inc is a registered charity in United States, based in Tupelo, MS. It received its IRS tax-exemption ruling in December 1986, 40 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 (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 Manor Retirement Community Inc reported income of $940k and spending of $1.1m, spending 118% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $864k to $940k (+8.8%), an average of +2.1% a year. The sharpest change came in the year to December 2022, when income dropped by 15%. Over the whole period it spent 114% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Wesley Manor Retirement Community Inc sits at the 71st percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 81st percentile within MS. Charities of a similar size with the same main cause include Housing Our Veterans Inc ($939k), Tampa Bay Community Development Corporation ($941k) and Woodside Village Inc ($939k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. Other salaries and wages came to $250k. At year end it held assets of $1.0m against liabilities of $3.6m, net assets of -$2.6m. It reported 8 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.