Wesley Community Development Corporation EIN 94-3427437 Form 990 (PDF) Claim this org

Wesley Community Development Corporation

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Helps faith-based groups redevelop their properties to achieve their vision. For fiscal year 2024 it reported $2.5M in revenue, $2.5M in expenses, and $3.5M in net assets.Pt I

Type
Religious organization · Nonprofit
Location
Huntersville, NC
Website
www.wesleycdc.com
Filings
5 on file (2020–2024)
Revenue
$2.5MFY2024
Expenses
$2.5M
Net assets
$3.5M
People
12
Filings
5
Updates
0
More identity details & actions ⌄
EIN  94-3427437 Religious organization Huntersville, NC
Form 990 (PDF)
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Figures match the IRS filing checked 9/2/26 · see original: IRS
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Size
$1–10M
What they do
Helps faith-based groups redevelop their properties to achieve their vision.
Leadership
Joel Gilland · President/CEO · $257K
Money in and out
$2.5M revenue, $2.5M expenses
Bottom line
85% program efficiency
Where the money goes · FY2024
Total revenue
$2.5M
Pt VIII · Ln 12
Total expenses
$2.5M
Pt IX · Ln 25
Net assets
$3.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $80K
Where spending went · Part IX cols B–D
Program services $0.85 Management & general $0.15
Program efficiency
85%
of spending reaches programs+0.1% vs prior filing year
Operating runway
15.0mo
months of highly liquid reserves at operating expense rate▼ -21% vs prior filing year
Surplus margin
+3%
revenue over expenses, this year▼ -74% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$2.5M
FY2024▲ +18%
Expenses
$2.5M
FY2024▲ +30%
Total assets
$5.1M
FY2024▲ +5%
Total liabilities
$1.6M
FY2024▲ +8%
Total revenue
$2.5M
Pt VIII · Ln 12
Total expenses
$2.5M
Pt IX · Ln 25
Net assets
$3.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$80K
Total assetsPt X · Ln 16$5.1M
Program-expense ratioPt IX · col B85%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWesley Community Development Corporation
EINHdr · item D94-3427437
Principal addressHdr · item CHuntersville, NC
WebsiteHdr · item Jwww.wesleycdc.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFOct 1974

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President/CEO
$257,151Pt VII · Sec A
VP of Finance and Operations
$162,850Pt VII · Sec A
Director of Construction
$139,187Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Joel Gilland$257,151$252,593$266,448$232,276$245,984
Brandi Turner$162,850$129,010$126,809$93,780$91,300
Mack King$147,250$91,733$109,222
Chadwick Brannan$139,187$132,046
Mack King IV$115,960
Chad Brannan$101,355

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

2 program services account for $2.1M of program spending, described in the organization's own filed words · FY2024.
01

Church Advisory, Brokerage and Asset Management

Working with churches on church campus development, brokerage, and property asset management to develop or repurpose real estate to meet the needs of the church and community in rural areas of north carolina and beyond.

$1.5Mprogram expense
02

Real Estate Development and Asset Management

CONSTRUCTION/DEVELOPMENTOF affordable housing units and rental of low income multifamily housing in western north carolina.

$614Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$1.9M · 75%
Contributions & grants$530K · 21%
Investment income$103K · 4%
Program service revenue75%$1.9M
Contributions & grants21%$530K
Investment income4%$103K
Other revenue$12K
— government grantsLn 1e$147K
Total revenueLn 12$2.5M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.85 Management & general $0.15
Program services85%$2.1M
Management & general15%$361K
Total functional expensesLn 25$2.5M

Balance Sheet

Part X · end of year
CashLn 1$814K
Total assetsLn 16$5.1M
Total liabilitiesLn 26$1.6M
Total net assetsLn 32$3.5M
Months of cash on handcomputed4.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3.1M · Operating expenses/yr $2.5M
15.0 months
Where the money goes
Program services
Program services $2.1M · Total expenses $2.5M
85%
Management & General
Management & general $361K · Total expenses $2.5M
15%
Fundraising
Fundraising $0 · Total expenses $2.5M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $690K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $530K · Total revenue $2.5M
21%
Government reliance
Government grants $147K · Total revenue $2.5M
6%
Earned-income share
Program service revenue $1.9M · Total revenue $2.5M
75%
Investment reliance
Investment income $103K · Total revenue $2.5M
+4%
Program self-sufficiency
Program service revenue $1.9M · Total expenses $2.5M
77%
Growth & trend
Revenue growth (YoY)
This year $2.5M · Prior year $2.1M
+18%
Revenue CAGR
FY2020 $2.0M · FY2024 $2.5M
+5%
Net-asset trend (YoY)
End of year $3.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.5M · Expenses $2.5M
+3%
Liabilities-to-Assets
Total liabilities — · Total assets $5.1M
Net-asset ratio
Net assets $3.5M · Total assets $5.1M
69%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $2.3M · Total assets (Pt X, ln 16) $5.1M
44%
People & payroll
Highest Reported Total Compensation
Individual Joel Gilland · Reported title PRESIDENT/CEO · Highest reported compensation $257K · Total expenses $2.5M
10%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.5M · Total expenses $2.5M
61%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 85%
Overhead ratio 15%
Fundraising cost ratio 0%
Revenue growth 18%
Investment management fee ratio 0.06%
Legal fee ratio 0.01%
Accounting fee ratio 1.0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$404K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$2.5M revenue · viewing · ⤓ 990 PDF
FY2023$2.1M revenue · ⤓ 990 PDF
FY2022$2.8M revenue · ⤓ 990 PDF
FY2021$1.7M revenue · ⤓ 990 PDF
FY2020$2.0M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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