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Wesley Tower INC FY2022 filing

Tax-deductible

Pasadena, CA501(c)(3)HousingEIN 95-3918349Revenue $2.3M in FY2022

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.
77¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 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
$5.1M
70% of total assets
Worth a look: liabilities are 70% of assets; over 65%.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.3M
+2% vs prior year
Spent
$1.3M
To programs
77%
Net assets
$2.2M
By yearFY2020–FY2025
Revenue
$2.3M
FY2022▲ +2%
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
FY2022▲ +2%
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
$2.2M
FY2022▲ +79%
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 FY2022 Form 990 (year ending March 2022) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2022 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

77 cents of each dollar spent went to programs.

Program services 77% · $1.0M Management & general 23% · $295K

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

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Elvan Moen
President
$0Pt VII · Sec A
Revis Call
Vice President
$0Pt VII · Sec A
Jane Casey
Treasurer
$0Pt VII · Sec A
Lisa Fike
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Brian Casey
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.

Questions for Wesley Tower INC

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Provided by the organization

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1 program · $1.0M · in their own filed words · FY2021
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
Wesley Homes INCFY2024$7K
Total grants receivedfrom 1 funder$7K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.3M
Ln 12
Gifts and grantsLn 1h$1.9M
Fees for servicesLn 2g$400K
Investment incomeLn 3$5K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.0M
Managementcol C$295K
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$320K
Total assetsLn 16$7.3M
LiabilitiesLn 26$5.1M
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.9M
Fees for servicesLn 2g$400K
Investment incomeLn 3$5K
Total revenueLn 12$2.3M
Assets in detailPt X, end of year
SavingsLn 2$320K
Cash and savings togetherLn 1–2$320K
InvestmentsLn 11–13$3.0M
Land, buildings, equipmentLn 10c$2.7M
Other assetsLn 15$1.3M
Total assetsLn 16$7.3M
LiabilitiesLn 26$5.1M
Net assetsLn 32$2.2M
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 FY22End FY22
Cash and savingsLn 1–2$151K$320K
InvestmentsLn 11–13$2.2M$3.0M
Land, buildings, equipmentLn 10c$2.9M$2.7M
Total assetsLn 16$6.4M$7.3M
LiabilitiesLn 26$5.2M$5.1M
Net assetsLn 32$1.2M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$193K$101K$92K
Pension plan contributionsLn 8$6K$3K$3K
Other employee benefitsLn 9$29K$15K$14K
Payroll taxesLn 10$16K$8K$7K
Management feesLn 11a$100K$100K
Legal feesLn 11b$52$52
Accounting feesLn 11c$30K$30K
InterestLn 20$192K$192K
Depreciation, depletion and amortizationLn 22$219K$219K
InsuranceLn 23$40K$40K
Other expenses (24a–d)Ln 24$359K$359K
All other expensesLn 24e$117K$69K$48K
Total functional expensesLn 25$1.3M$1.0M$295K$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 Viewing $2.3M$1.3M$957K$2.2M 990 PDF
FY2021 $2.2M$1.3M$940K$1.2M 990 PDF
FY2020 $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 FY2022 990 (6 parts)
Part I · Summary $2,259,034 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,796,409$1,853,792
I-9 Program service revenuePrior year $395,358$400,421
I-10 Investment incomePrior year $26,351$4,821
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,218,118$2,259,034
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 $215,088$243,544
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,063,031$1,058,173
I-18 Total expensesPrior year $1,278,119$1,301,717
I-19 Revenue less expensesPrior year $939,999$957,317
Part VI · Governance 15 of 15 board members independent, 4 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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 $2,259,034 across 5 lines filed
VIII-1f All other contributions, gifts and grants$1,853,792
VIII-1h Total contributions, gifts and grants$1,853,792
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $400,421$400,421
VIII-3 Investment incomeExcluded from tax $4,821$4,821
VIII-12 Total revenueRelated to mission $400,421 · Unrelated business $0 · Excluded from tax $4,821$2,259,034
Part IX · Statement of functional expenses $1,301,717 across 12 lines filed
IX-7 Other salaries and wagesPrograms $101,041 · Management $91,736$192,777
IX-8 Pension plan contributionsPrograms $3,055 · Management $2,774$5,829
IX-9 Other employee benefitsPrograms $15,360 · Management $13,948$29,308
IX-10 Payroll taxesPrograms $8,192 · Management $7,438$15,630
IX-11a Management feesManagement $100,205$100,205
IX-11b Legal feesManagement $52$52
IX-11c Accounting feesManagement $29,955$29,955
IX-20 InterestPrograms $191,793$191,793
IX-22 Depreciation, depletion and amortizationPrograms $219,473$219,473
IX-23 InsurancePrograms $40,233$40,233
IX-24 Other expenses (24a–d)Programs $359,346$359,346
IX-24e All other expensesPrograms $68,692 · Management $48,424$117,116
IX-25 Total functional expensesPrograms $1,007,185 · Management $294,532 · Fundraising $0$1,301,717
Part X · Balance sheet $7,279,666 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $150,762$319,948
X-9 Prepaid expenses and deferred chargesStart of year $17,262$18,080
X-10c Land, buildings and equipment, netStart of year $2,902,000$2,682,527
X-13 Program-related investmentsStart of year $2,175,000$2,992,692
X-15 Other assetsStart of year $1,181,142$1,266,419
X-16 Total assetsStart of year $6,426,166$7,279,666
X-17 Accounts payable and accrued expensesStart of year $68,575$64,411
X-25 Other liabilitiesStart of year $33,527$33,786
X-26 Total liabilitiesStart of year $5,219,881$5,116,064
X-27 Net assets without donor restrictionsStart of year $1,206,285$2,163,602
X-32 Total net assets or fund balancesStart of year $1,206,285$2,163,602
X-33 Total liabilities and net assetsStart of year $6,426,166$7,279,666
Part XI · Reconciliation of net assets $2,163,602 net assets at year end
XI-1 Total revenue$2,259,034
XI-2 Total expenses$1,301,717
XI-3 Revenue less expenses$957,317
XI-4 Net assets at start of year$1,206,285
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,163,602

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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