Wesley Community Development Corporation

Analysis

Wesley Community Development Corporation is a registered charity in United States, based in Huntersville, NC. It received its IRS tax-exemption ruling in October 1974, 52 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Wesley Community Development Corporation reported income of $2.8m and spending of $1.9m, leaving 33% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.4m to $2.8m (+109%), an average of +28% a year. The sharpest change came in the year to December 2022, when income rose by 65%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wesley Community Development Corporation sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include Brothers of the Sacred Heart Foundation Inc ($2.8m), Visiting Nurse Association of Franklin ($2.8m) and Seabury School ($2.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 47% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $449k (24% of expenses). Other salaries and wages came to $697k. At year end it held assets of $4.7m against liabilities of $1.6m, net assets of $3.1m. It reported 12 employees.