Wesley Developments

Nonprofit profile at a glance

EIN
952810896
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
San Diego, CA, USA
Phone
6198768913
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$363,048
Expenses
$219,422
Assets
$503,780
Liabilities
$67,190

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • GREG ESTEP (President)

People named in this filing

  • GREG ESTEP (President)
  • AUDREY BENJAMIN (Director)
  • THUY TRANG PHAN (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide low income housing to the elderly and handicapped

What it reported doing in 2024

The organization provided low-income housing for the elderly and all expenditures are directed towards this purpose. Prior to September 6, 2019, the entity owned the asset providing apartments to low-income elderly individuals. On September 6, 2019, the organization sold this asset into a partnership it maintains a general partner interest in. Through this investment, the organization is ensuring the asset maintains its affordable nature for at least 15 years and receives a significant rehabilitation in the process.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 85% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 86
  • Accountability: 76
  • Sustainability: 71
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.4%; rating input score 60
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.3%; rating input score 97; 57th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 39.6%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 2.3; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 1.7% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: -5.7% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -16.3% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 60.4% of revenue deployed · 100% of spending went to programs
  • Governance: 12 of 12 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $219K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.