Wesley Tower Inc

Analysis

Wesley Tower Inc is a registered charity in United States, based in Pasadena, CA. It received its IRS tax-exemption ruling in March 1985, 41 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 March 2023, Wesley Tower Inc reported income of $2.4m and spending of $1.4m, leaving 41% of income unspent that year. Across the 5 years on record, from March 2019 to March 2023, income grew from $1.5m to $2.4m (+54%), an average of +11% a year. The sharpest change came in the year to March 2021, when income rose by 38%. Over the whole period it spent 65% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Wesley Tower Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within CA. Charities of a similar size with the same main cause include Collins Non-Profit Apartments Inc ($2.4m), Purchase Senior Learning Community Inc ($2.4m) and The Arlington Life Shelter ($2.4m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 80% and program service revenue 17% of the total. Other salaries and wages came to $190k. At year end it held assets of $8.2m against liabilities of $5.0m, net assets of $3.1m. It reported 10 employees.