Wesley Housing Development Corporation of Northern Virginia

Nonprofit profile at a glance

EIN
510155779
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Alexandria, VA, USA
Phone
7036423830
Rating
88
Verdict
STRONG
Rating confidence
Standard

Official website

Reported finances

Revenue
$13,444,497
Expenses
$13,728,219
Assets
$74,633,429
Liabilities
$49,022,985

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

Leadership & pay

24 people listed

Executive titles in this filing

  • KAMILAH MCAFEE (PRESIDENT, CEO)
  • FRANK MOONEY (PRESIDENT, PROPERTY MANAGE)

Highest reported compensation

  • KAMILAH MCAFEE (PRESIDENT, CEO): $298,768 total reported compensation
  • CHRIS CHERRY (CFO): $227,655 total reported compensation
  • MARY KATHLEEN MEJASICH (COO, DIRECTOR OF EXTERNAL): $206,497 total reported compensation

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

Overview

Mission

To develop, own, operate, preserve, and maintain affordable housing and sustain quality communities for low- and moderate- income persons in northern Virginia.

What it reported doing in 2024

Through ownership and management in affordable housing projects, the corporation provided affordable housing to low income individuals, seniors, and persons with disabilities. The corporation also provided tenant services to these individuals. The corporation currently owns, invests in and operates approximately 2,300 affordable units in northern Virginia and Washington, d.c., with another 70 units under development and another 450 units in pre-development.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% 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. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 94
  • Transparency & Controls: 80
  • Accountability: 95
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.2%; rating input score 92
  • Fundraising efficiency: $41.49 raised per $1 spent on fundraising; rating input score 73; 73rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 92.3%; rating input score 92; 25th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.1%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 5.44; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.66; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 12.9%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 11.5% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 10.2% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 13.9% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.2% of spending went to programs
  • Governance: 12 of 13 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $12.7M in reported program spending
  • Leadership: top reported pay $299K · 24 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 12 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 65 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.

  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.