Wesley Housing Corporation of Memphis Inc

Nonprofit profile at a glance

EIN
237046413
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cordova, TN, USA
Phone
9013804900
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Home Health Care

Official website

Reported finances

Revenue
$3,208,149
Expenses
$3,773,342
Assets
$7,438,286
Liabilities
$1,435,082

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

Leadership & pay

14 people listed

Executive titles in this filing

  • BRIAN HARRIS (NON-VOTING PRESIDENT)
  • DONALD OLLIO (NON-VOTING VICE PRESIDENT)
  • RONALD BUDYNAS (NON-VOTING VICE PRESIDENT)

Highest reported compensation

  • DONALD OLLIO (NON-VOTING VICE PRESIDENT): $251,259 total reported compensation
  • BRIAN HARRIS (NON-VOTING PRESIDENT): $228,308 total reported compensation
  • RONALD BUDYNAS (NON-VOTING VICE PRESIDENT): $172,948 total reported compensation

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

Overview

Mission

Wesley housing corporation of memphis, inc. Is a Tennessee not-for-profit corporation which provides property management, development, and related services. As of december 31, 2023, management, development, and related services are provided to thirty-four affiliated and unaffiliated corporations.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 98% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 74
  • Accountability: 84
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.1%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 10th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.6%; rating input score 99; 35th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -17.6%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 1.97; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 23.8%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 7% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 7.9% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $3.5M in reported program spending
  • Leadership: top reported pay $251K · 14 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 9 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.