Wesley Rydell Housing Corporation

Nonprofit profile at a glance

EIN
205289427
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Alexandria, VA, USA
Phone
7036423830
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$1,908,647
Expenses
$1,998,948
Assets
$11,321,146
Liabilities
$15,039,118

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

Leadership & pay

4 people listed

Executive titles in this filing

  • MICHAEL T CRANNA (PRESIDENT)

Highest reported compensation

  • KAMILAH MCAFEE (SECRETARY/BOARD MEMBER): $298,768 total reported compensation
  • CHRIS CHERRY (CFO): $227,655 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 provide 98 units of affordable housing to families and individuals.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The program-spending lines do not add up, so the filing cannot show reliably whether the nonprofit works directly or through others.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 60
  • Accountability: 76
  • Sustainability: 44
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.8%; rating input score 93
  • Program expense ratio: 88.9%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 14th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.7%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 5.66; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 1.33; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 0% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: -2.2% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 92.8% of revenue deployed · 88.9% of spending went to programs
  • Governance: 2 of 3 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $299K · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 55 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.