WESLEY HOUSING CORPORATION OF MEMPHIS INC (EIN 237046413) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1969

Legal Domicile

Principal Officer

BRIAN HARRIS

Phone

9013804900

Tax Period

2024-01-01 to 2024-12-31

WESLEY HOUSING CORPORATION OF MEMPHIS INC, founded in 1969, is a community nonprofit in the Health Care sector that reported $3.2M in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year. Expenses of $3.8M exceeded revenue, resulting in a 18% operating deficit.

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-THREE AFFILIATED AND UNAFFILIATED CORPORATIONS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,148,368

Investment Income $7,391

Other Revenue $52,390

TOTAL REVENUE $3,208,149

Expense Breakdown

Grants Paid $73,028

Salaries & Benefits $2,380,125

Fundraising Expenses $0

Program Expenses $3,511,118

Other Expenses $1,320,189

TOTAL EXPENSES $3,773,342

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,208,149	$3,597,409	-0.1%
Expenses	$3,773,342	$3,850,638	0.0%
Net Income	$-565,193	$-253,229	+1.2%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

205

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$652,515

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREA MERRIWEATHER	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
FRANK CARNEY	DIRECTOR	2.00	Director	$0	$0	$0
J KEATON MORRIS	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL W WINTER	DIRECTOR	2.00	Director	$0	$0	$0
NANCY BLAIR BONK	DIRECTOR	2.00	Director	$0	$0	$0
REV DAVID WEATHERLY	CHAIRPERSON	2.00	Officer Director	$0	$0	$0
ROSALYN ROSS	DIRECTOR	2.00	Director	$0	$0	$0
SANDI ALLEN	DIRECTOR	2.00	Director	$0	$0	$0
STEVE MITCHENER	VICE CHAIRPERSON	2.00	Officer Director	$0	$0	$0
BRIAN HARRIS	NON-VOTING PRESIDENT	40.00	Officer	$190,733	$37,575	$228,308
DONALD OLLIO	NON-VOTING VICE PRESIDENT	40.00	Officer	$214,313	$36,946	$251,259
RONALD BUDYNAS	NON-VOTING VICE PRESIDENT	40.00	Officer	$156,313	$16,635	$172,948
ANITA DARNALL	DIRECTOR OF HOUSING	40.00	Highest	$100,447	$20,930	$121,377
RANDALL SPIVEY	ACCT DIRECTOR	40.00	Highest	$100,550	$24,287	$124,837

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$3,208,149	$3,773,342	$7,438,286	$-565,193
2023	$3,597,409	$3,850,638	$7,442,980	$-253,229
2022	$5,385,611	$3,788,700	$7,157,368	$1,596,911
2021	$2,714,110	$2,485,099	$5,768,190	$229,011
2020	$2,630,135	$2,786,715	$5,595,960	$-156,580
2019	$4,076,200	$2,736,869	$5,637,093	$1,339,331
2018	$3,726,514	$2,487,429	$4,303,734	$1,239,085

WESLEY HOUSING CORPORATION OF MEMPHIS INC