Overview
What is Wesley Community Development Corporation?
Wesley Community Development Corporation is a nonprofit organization situated in Huntersville, North Carolina. With a focus on real estate development and asset management, their primary mission is to construct and manage affordable housing units in Western North Carolina. Their goal is to reimagine, repurpose, and redevelop communities, striving to create environments that embody grace and hope for low-income families. The organization, which employs 12 individuals, primarily focuses on the development of multi-family housing properties for rent.
Official website here: www.wesleycdc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
Wesley Community Development Corporation has achieved a commendable Four-Star rating from Charity Navigator, underscoring its strong commitment to accountability and financial health. The organization scored exceptionally high in several key areas, including independent board governance, financial oversight, and the absence of asset diversion. With a program expense ratio of 86.84%, it demonstrates a strong focus on utilizing its resources effectively for its mission.
The organization also enjoys a robust financial structure, reflected in its liabilities to assets ratio of 33.59% and a working capital ratio of 1.89 years, indicating good financial stability. It has policies in place for conflicts of interest and whistleblower protections, contributing to its overall accountability. However, the fundraising efficiency ratio was noted as $0.00, which may suggest areas for improvement in generating funds.
Overall, Wesley Community Development Corporation stands out for its governance and financial practices, ensuring transparency and responsible management of resources. While the fundraising aspect appears to need attention, the organization’s strong performance in other areas highlights its dedication to fulfilling its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Wesley Community Development Corporation legitimate?
Wesley Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wesley Community Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $448,596
Professional Fundraising Fees: $0
Other Salaries and Wages: $696,614
For more financial information, click here
Official website here: www.wesleycdc.com
What is the mission statement of Wesley Community Development Corporation?
The Wesley Community Development Corporation's mission, as stated, is centered around the principles of reimagining, repurposing, and redeveloping with the goal of establishing communities that embody grace and hope. This mission is achieved through their involvement in real estate development and asset management, specifically focusing on the construction and rental of affordable housing units for low-income families in Western North Carolina.
Official website here: www.wesleycdc.com
Who is the CEO of Wesley Community Development Corporation?
Joel Gilland is the Board Chair of Wesley Community Development Corporation. The CEO's salary of Wesley Community Development Corporation is $266,448 and their total compensation is $297,510.
Official website here: www.wesleycdc.com
What is the revenue of Wesley Community Development Corporation?
Wesley Community Development Corporation's revenue in 2022 was $2,844,958.
Official website here: www.wesleycdc.com
Who are the executives of Wesley Community Development Corporation and what are their salaries?
The average compensation at Wesley Community Development Corporation during 2022 was $95,434. There are 12 employees and 9 volunteers at Wesley Community Development Corporation.
Here are 13 key members and their salaries (Wesley Community Development Corporation's CEO's salary is $266,448 and their total compensation is $297,510):
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- Compensation: $266,448
- Related: $0
- Other: $31,062
- Compensation: $126,809
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- Other: $24,276
- Compensation: $101,355
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- Other: $8,700
- Compensation: $147,250
- Related: $0
- Other: $20,712
Official website here: www.wesleycdc.com
Where can I find the form 990 for Wesley Community Development Corporation?
Wesley Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wesleycdc.com
Learn more at the official website: www.wesleycdc.com
Mission Statement of Wesley Community Development Corporation
Wesley Community Development Corporation, as its name suggests, is committed to reimagining, repurposing, and redeveloping communities, ultimately building spaces of grace and hope. This mission is reflected in their primary activity of real estate development and asset management. Specifically, they focus on constructing and developing affordable housing units, as well as renting out low-income multifamily housing units. By doing so, Wesley Community Development Corporation aims to contribute positively to the lives of individuals and families in need, thereby helping to rebuild and strengthen communities.
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Impact
July, 2024
Wesley Community Development Corporation's impact lies in its commitment to reimagining, repurposing, and redeveloping communities of grace and hope. Through its real estate development and asset management activities, specifically in construction and development of affordable housing units as well as rental of low-income multifamily housing in western North Carolina, Wesley Community Development Corporation is making a tangible difference in addressing housing needs in the region. Their focus on providing affordable housing contributes to building strong and sustainable communities, fulfilling their mission of creating spaces where individuals and families can thrive.
This information is meant to be a general summary of Wesley Community Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $13,999
- Program Service Revenue: $1,495,830
- Gross Receipts: $2,858,363
Assets and Liabilities:
- Total Assets: $4,668,726
- Total Liabilities: $1,568,397
- Net Assets: $3,100,329
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER AND INCENTIV
Revenue
$467,211
REAL ESTATE COMMISSION
Revenue
$373,337
PROPERTY MANAGEMENT FE
Revenue
$251,355
RENTAL INCOME
Revenue
$224,560
CONSULTING FEES
Revenue
$179,367
Organization Details
Founding Year
2002
Phone
(980) 441-5123Principal Officer
Joel Gilland
Main Address
13816 PROFESSIONAL CENTER DR 200, HUNTERSVILLE, NC, 28078
Website
www.wesleycdc.comNTEE Category
Code: L80 - Housing
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