Wesley Tower INC FY2020 filing

Tax-deductible

Pasadena, CA501(c)(3)HousingEIN 95-3918349Revenue $1.6M in FY2020

On file with the IRSPo Box 7070, 91109-7070 · Pasadena, CATax-exempt since Mar 1985Publicly supported charity — 170(b)(1)(A)(vi)

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To provide low income housing to elderly and handicapped persons.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $952K a year · 41% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $7K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$5.3M
95% of total assets
Concern: liabilities are 95% of assets; over 80%.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
Spent
$1.3M
To programs
81%
Net assets
$266K
By yearFY2020–FY2025
Revenue
$1.6M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.6M
FY2021$2.2M
FY2022$2.3M
FY2023$2.4M
FY2024$2.7M
FY2025$2.8M
Expenses
$1.3M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$1.3M
FY2023$1.4M
FY2024$1.4M
FY2025$1.6M
Net assets
$266K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$266K
FY2021$1.2M
FY2022$2.2M
FY2023$3.1M
FY2024$4.4M
FY2025$5.6M

From the FY2020 Form 990 (year ending March 2020) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1985.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $1.0M Management & general 19% · $243K

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

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Wesley Tower 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides affordable housing for elderly and disabled individuals.

Provided by the organization

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1 program · $1.0M · in their own filed words · FY2019
01

The organization is a non-profit apartment complex renting to low income, handicapped or elderly persons. The operations are regulated and controlled by U.S. Dept. Of hud. A coin operated laundry facility is provided.

$1.0Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$7K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$1.2M
Fees for servicesLn 2g$390K
Investment incomeLn 3$49K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.0M
Managementcol C$243K
Owns and owesPt X
$266K
net assets · Ln 32
Cash and savingsLn 1–2$204K
Total assetsLn 16$5.6M
LiabilitiesLn 26$5.3M
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Government grantsLn 1e$1.2M
Fees for servicesLn 2g$390K
Investment incomeLn 3$49K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
SavingsLn 2$204K
Cash and savings togetherLn 1–2$204K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$3.1M
Other assetsLn 15$1.1M
Total assetsLn 16$5.6M
LiabilitiesLn 26$5.3M
Net assetsLn 32$266K
OperationsPt I, VI
EmployeesI 511
VolunteersI 60
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$124K$204K
InvestmentsLn 11–13$950K$1.1M
Land, buildings, equipmentLn 10c$3.2M$3.1M
Total assetsLn 16$5.3M$5.6M
LiabilitiesLn 26$5.4M$5.3M
Net assetsLn 32−$70K$266K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$180K$93K$88K
Other employee benefitsLn 9$28K$15K$14K
Payroll taxesLn 10$14K$7K$7K
Management feesLn 11a$76K$76K
Legal feesLn 11b$13$13
Accounting feesLn 11c$27K$27K
InterestLn 20$199K$199K
Depreciation, depletion and amortizationLn 22$201K$201K
InsuranceLn 23$30K$30K
Other expenses (24a–d)Ln 24$429K$429K
All other expensesLn 24e$88K$56K$31K
Total functional expensesLn 25$1.3M$1.0M$243K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.8M$1.6M$1.2M$5.6M 990 PDF
FY2024 $2.7M$1.4M$1.3M$4.4M 990 PDF
FY2023 $2.4M$1.4M$981K$3.1M 990 PDF
FY2022 $2.3M$1.3M$957K$2.2M 990 PDF
FY2021 $2.2M$1.3M$940K$1.2M 990 PDF
FY2020 Viewing $1.6M$1.3M$337K$266K 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 FY2020 990 (6 parts)
Part I · Summary $1,609,262 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,144,834$1,170,284
I-9 Program service revenuePrior year $386,009$390,211
I-10 Investment incomePrior year $13,835$48,767
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,544,678$1,609,262
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 $225,226$222,555
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,008,922$1,050,055
I-18 Total expensesPrior year $1,234,148$1,272,610
I-19 Revenue less expensesPrior year $310,530$336,652
Part VI · Governance 14 of 14 board members independent, 4 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $1,609,262 across 5 lines filed
VIII-1e Government grants$1,170,284
VIII-1h Total contributions, gifts and grants$1,170,284
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $390,211$390,211
VIII-3 Investment incomeExcluded from tax $48,767$48,767
VIII-12 Total revenueRelated to mission $390,211 · Unrelated business $0 · Excluded from tax $48,767$1,609,262
Part IX · Statement of functional expenses $1,272,610 across 11 lines filed
IX-7 Other salaries and wagesPrograms $92,596 · Management $87,559$180,155
IX-9 Other employee benefitsPrograms $14,547 · Management $13,755$28,302
IX-10 Payroll taxesPrograms $7,246 · Management $6,852$14,098
IX-11a Management feesManagement $76,258$76,258
IX-11b Legal feesManagement $13$13
IX-11c Accounting feesManagement $27,337$27,337
IX-20 InterestPrograms $199,193$199,193
IX-22 Depreciation, depletion and amortizationPrograms $201,191$201,191
IX-23 InsurancePrograms $29,758$29,758
IX-24 Other expenses (24a–d)Programs $428,586$428,586
IX-24e All other expensesPrograms $56,311 · Management $31,408$87,719
IX-25 Total functional expensesPrograms $1,029,428 · Management $243,182 · Fundraising $0$1,272,610
Part X · Balance sheet $5,572,149 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $123,921$204,079
X-9 Prepaid expenses and deferred chargesStart of year $16,354$16,759
X-10c Land, buildings and equipment, netStart of year $3,230,727$3,089,349
X-13 Program-related investmentsStart of year $950,000$1,150,000
X-15 Other assetsStart of year $1,021,750$1,111,962
X-16 Total assetsStart of year $5,342,752$5,572,149
X-17 Accounts payable and accrued expensesStart of year $78,596$61,598
X-25 Other liabilitiesStart of year $27,852$30,260
X-26 Total liabilitiesStart of year $5,413,118$5,305,863
X-27 Net assets without donor restrictionsStart of year −$70,366$266,286
X-32 Total net assets or fund balancesStart of year −$70,366$266,286
X-33 Total liabilities and net assetsStart of year $5,342,752$5,572,149
Part XI · Reconciliation of net assets $266,286 net assets at year end
XI-1 Total revenue$1,609,262
XI-2 Total expenses$1,272,610
XI-3 Revenue less expenses$336,652
XI-4 Net assets at start of year−$70,366
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$266,286

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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