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Wesley Murray Meadow INC

Tax-deductible

Cordova, TN501(c)(3)HousingEIN 45-4123137Revenue $217K in FY2024

On file with the IRSwesleyliving.com1615 Appling Rd, 38016-4907 · Cordova, TNTax-exempt since Nov 2012Supporting organization — 509(a)(3)

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To provide housing and services to very low and extremely low income elderly.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Run by 13 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $67K a year · 34% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.6M
152% of total assets
Concern: liabilities are 152% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$217K
+5% vs prior year
Spent
$262K
To programs
84%
Net assets
−$887K
By yearFY2020–FY2024
Revenue
$217K
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$165K
FY2021$189K
FY2022$200K
FY2023$207K
FY2024$217K
Expenses
$262K
FY2024▼ -10%
Tap a bar for its year
Expenses by fiscal year
FY2020$233K
FY2021$263K
FY2022$262K
FY2023$291K
FY2024$262K
Net assets
−$887K
FY2024▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020−$621K
FY2021−$696K
FY2022−$758K
FY2023−$842K
FY2024−$887K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2012.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $220K Management & general 16% · $42K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation
Amanda L Ward
Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jennifer Norris
Vice Chairperson
$0Pt VII · Sec A
Mary Lou Cushing
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Wesley Murray Meadow INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers housing and support services to seniors with very low incomes.

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Provided by the organization

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1 program · $220K · in their own filed words · FY2024
01

Wesley murray meadow, inc. Is a not-for-profit corporation formed in december 2011, in accordance with the not-for-profit statutes of the state of kentucky. The corporation was formed for the purpose of operating a 20-UNIT community located in murray, kentucky, known as wesley murray meadow, which provides housing and related services…

$220Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$217K
Ln 12
Gifts and grantsLn 1h$128K
Fees for servicesLn 2g$89K
Investment incomeLn 3$47
Money outPt IX
$262K
Ln 25
Programscol B$220K
Managementcol C$42K
Owns and owesPt X
−$887K
net assets · Ln 32
Cash and savingsLn 1–2$22K
Total assetsLn 16$1.7M
LiabilitiesLn 26$2.6M
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$128K
Government grantsLn 1e$128K
Fees for servicesLn 2g$89K
Investment incomeLn 3$47
Other incomeLn 4–11$2
Total revenueLn 12$217K
Assets in detailPt X, end of year
CashLn 1$22K
Cash and savings togetherLn 1–2$22K
InvestmentsLn 11–13$123K
Land, buildings, equipmentLn 10c$1.5M
Other assetsLn 15$8K
Total assetsLn 16$1.7M
LiabilitiesLn 26$2.6M
Net assetsLn 32−$887K
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$22K$22K
InvestmentsLn 11–13$113K$123K
Land, buildings, equipmentLn 10c$1.6M$1.5M
Total assetsLn 16$1.7M$1.7M
LiabilitiesLn 26$2.6M$2.6M
Net assetsLn 32−$842K−$887K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$44K$44K
Pension plan contributionsLn 8$1K$1K
Other employee benefitsLn 9$16K$16K
Payroll taxesLn 10$3K$3K
Management feesLn 11a$18K$18K
Accounting feesLn 11c$10K$10K
Advertising and promotionLn 12$66$66
Office expensesLn 13$6K$6K
Information technologyLn 14$6K$6K
OccupancyLn 16$89K$89K
Conferences, conventions and meetingsLn 19$3K$3K
Depreciation, depletion and amortizationLn 22$66K$66K
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$262K$220K$42K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $217K$262K−$45K−$887K 990 PDF
FY2023 $207K$291K−$84K−$842K 990 PDF
FY2022 $200K$262K−$62K−$758K 990 PDF
FY2021 $189K$263K−$75K−$696K 990 PDF
FY2020 $165K$233K−$69K−$621K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $216,593 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $125,156$127,817
I-9 Program service revenuePrior year $81,622$88,727
I-10 Investment incomePrior year $55$47
I-11 Other revenuePrior year $0$2
I-12 Total revenuePrior year $206,833$216,593
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $57,260$63,943
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $233,418$197,920
I-18 Total expensesPrior year $290,678$261,863
I-19 Revenue less expensesPrior year −$83,845−$45,270
Part VI · Governance 8 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $216,593 across 6 lines filed
VIII-1e Government grants$127,817
VIII-1h Total contributions, gifts and grants$127,817
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $88,727$88,727
VIII-3 Investment incomeExcluded from tax $47$47
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $2$2
VIII-12 Total revenueRelated to mission $88,727 · Unrelated business $0 · Excluded from tax $49$216,593
Part IX · Statement of functional expenses $261,863 across 13 lines filed
IX-7 Other salaries and wagesPrograms $44,466$44,466
IX-8 Pension plan contributionsPrograms $1,106$1,106
IX-9 Other employee benefitsPrograms $15,611$15,611
IX-10 Payroll taxesPrograms $2,760$2,760
IX-11a Management feesManagement $17,609$17,609
IX-11c Accounting feesManagement $10,125$10,125
IX-12 Advertising and promotionManagement $66$66
IX-13 Office expensesManagement $5,684$5,684
IX-14 Information technologyManagement $5,907$5,907
IX-16 OccupancyPrograms $88,572$88,572
IX-19 Conferences, conventions and meetingsManagement $2,529$2,529
IX-22 Depreciation, depletion and amortizationPrograms $65,607$65,607
IX-24 Other expenses (24a–d)Programs $1,821$1,821
IX-25 Total functional expensesPrograms $219,943 · Management $41,920 · Fundraising $0$261,863
Part X · Balance sheet $1,693,167 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $21,934$22,003
X-4 Accounts receivableStart of year $6,452$0
X-9 Prepaid expenses and deferred chargesStart of year $38,059$39,457
X-10c Land, buildings and equipment, netStart of year $1,566,498$1,500,891
X-13 Program-related investmentsStart of year $113,212$122,877
X-15 Other assetsStart of year $863$7,939
X-16 Total assetsStart of year $1,747,018$1,693,167
X-17 Accounts payable and accrued expensesStart of year $34,119$24,909
X-19 Deferred revenueStart of year $4$9
X-25 Other liabilitiesStart of year $6,988$7,612
X-26 Total liabilitiesStart of year $2,588,711$2,580,130
X-27 Net assets without donor restrictionsStart of year −$841,693−$886,963
X-32 Total net assets or fund balancesStart of year −$841,693−$886,963
X-33 Total liabilities and net assetsStart of year $1,747,018$1,693,167
Part XI · Reconciliation of net assets −$886,963 net assets at year end
XI-1 Total revenue$216,593
XI-2 Total expenses$261,863
XI-3 Revenue less expenses−$45,270
XI-4 Net assets at start of year−$841,693
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$886,963

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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