Civic Intelligence

Wesleyan Homes Inc

990 • Fiscal year 2017 • EIN 74-1459599

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 14, 2018

PO Box 486Georgetown, TX 78627

(512) 868-1205

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.80x

Higher debt load relative to assets than 85% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

83rd percentile

1.96x

Higher debt load relative to revenue than 83% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

43rd percentile

1.5%

Higher net margin than 43% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

27th percentile

$224,246

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

30th percentile

1.0%

Faster asset growth than 30% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

77th percentile

20%

Faster revenue growth than 77% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Assets

Up

$73,803,148

Up $746,566 (+1.0%) from 2016

Net Assets

Up

$14,956,319

Up $596,113 (+4.2%) from 2016

Liabilities

Up

$58,846,829

Up $150,453 (+0.3%) from 2016

Revenue

Up

$30,051,841

Up $5,084,772 (+20%) from 2016

Expenses

Up

$29,601,926

Up $5,531,675 (+23%) from 2016

Net Income

Down

$449,915

Down $446,903 (-50%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2010: $35,438,566Liabilities 2010: $24,708,697Net Assets 2010: $10,729,8692010Assets 2011: $36,226,024Liabilities 2011: $25,361,589Net Assets 2011: $10,864,4352011Assets 2012: $37,350,810Liabilities 2012: $24,957,100Net Assets 2012: $12,393,7102012Assets 2013: $37,187,920Liabilities 2013: $24,715,765Net Assets 2013: $12,472,1552013Assets 2014: $71,051,685Liabilities 2014: $55,841,214Net Assets 2014: $15,210,4712014Assets 2015: $70,410,377Liabilities 2015: $57,002,905Net Assets 2015: $13,407,4722015Assets 2016: $73,056,582Liabilities 2016: $58,696,376Net Assets 2016: $14,360,2062016Assets 2017: $73,803,148Liabilities 2017: $58,846,829Net Assets 2017: $14,956,3192017Assets 2018: $71,652,265Liabilities 2018: $56,379,434Net Assets 2018: $15,272,8312018Assets 2019: $107,290,239Liabilities 2019: $92,081,498Net Assets 2019: $15,208,7412019Assets 2020: $105,418,838Liabilities 2020: $92,441,912Net Assets 2020: $12,976,9262020Assets 2021: $102,254,340Liabilities 2021: $90,915,013Net Assets 2021: $11,339,3272021Assets 2022: $98,447,379Liabilities 2022: $89,485,846Net Assets 2022: $8,961,5332022Assets 2023: $94,943,502Liabilities 2023: $86,467,315Net Assets 2023: $8,476,1872023Assets 2024: $93,756,669Liabilities 2024: $85,204,108Net Assets 2024: $8,552,5612024

Highlighted filing

2017

Assets$73,803,148
Liabilities$58,846,829
Net Assets$14,956,319

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$20M$0-$20MExpenses 2010: $17,152,1682010Expenses 2011: $17,966,1762011Expenses 2012: $18,965,2522012Revenue 2013: $19,656,705Expenses 2013: $19,643,309Net Income 2013: $13,3962013Revenue 2014: $22,530,180Expenses 2014: $19,830,530Net Income 2014: $2,699,6502014Revenue 2015: $22,186,929Expenses 2015: $21,679,134Net Income 2015: $507,7952015Revenue 2016: $24,967,069Expenses 2016: $24,070,251Net Income 2016: $896,8182016Revenue 2017: $30,051,841Expenses 2017: $29,601,926Net Income 2017: $449,9152017Revenue 2018: $32,316,260Expenses 2018: $31,433,940Net Income 2018: $882,3202018Revenue 2019: $31,396,502Expenses 2019: $31,909,365Net Income 2019: -$512,8632019Revenue 2020: $34,937,413Expenses 2020: $37,621,114Net Income 2020: -$2,683,7012020Revenue 2021: $32,412,628Expenses 2021: $34,052,490Net Income 2021: -$1,639,8622021Revenue 2022: $33,557,673Expenses 2022: $35,179,177Net Income 2022: -$1,621,5042022Revenue 2023: $30,085,301Expenses 2023: $31,055,545Net Income 2023: -$970,2442023Revenue 2024: $27,340,036Expenses 2024: $27,340,055Net Income 2024: -$192024

Highlighted filing

2017

Revenue$30,051,841
Expenses$29,601,926
Net Income$449,915
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$30,073,909
Mission and Program Overview

Mission

The wesleyan is called to create a ministry of health and aging services that nourishes body, mind and spirit so that all those that the wesleyan serves live abundantly.

To provide retirement, assisted living, nursing home and hospice care accomodations to residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$26,003,726$55,268,315▲ $29,264,589
Savings and Temporary Cash Investments$10,705,310$8,623,354▼ $2,081,956
Investments in Publicly Traded Securities$3,699,109$3,464,112▼ $234,997
Accounts Receivable$1,747,965$3,267,361▲ $1,519,396
Investments Other Securities$1,586,250$1,598,762▲ $12,512
Cash and Non-Interest-Bearing Accounts$514,035$685,817▲ $171,782
Prepaid Expenses and Deferred Charges$67,641$95,777▲ $28,136
Total Assets$73,056,582$73,803,148▲ $746,566
Other Assets Total$28,732,546$799,650▼ $27,932,896
Liabilities
Tax Exempt Bond Liabilities$51,974,719$51,445,722▼ $528,997
Accounts Payable and Accrued Expenses$5,949,909$5,411,457▼ $538,452
Other Liabilities$142,550$1,479,621▲ $1,337,071
Mortgage Notes Payable Secured by Investment Property$470,308$363,831▼ $106,477
Deferred Revenue$158,890$146,198▼ $12,692
Total Liabilities$58,696,376$58,846,829▲ $150,453
Net Assets / Fund Balance
Unrestricted Net Assets$14,360,206$14,956,319▲ $596,113
Total Net Assets Fund Balance$14,360,206$14,956,319▲ $596,113
Total Liabilities and Net Assets / Fund Balance$73,056,582$73,803,148▲ $746,566

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$48,735,823$11,867,629$60,603,452
Equipment$4,504,523$2,922,564$7,427,087
Land$2,027,969-$2,027,969
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Chris G SpencePresidentFT$183,462$40,784$224,246
Travis WheatAdministrator - ScenicFT$142,480$18,073$160,553
Kevin F ByrneChief Financial OfficerFT$140,000$20,424$160,424
Rebecca Folta-mayAdministrator - IlFT$134,000$14,824$148,824
Kelly GoetzAdministrator - AlFT$106,834$13,254$120,088
Scholastica KabugiDon - ScenicFT$106,250$13,324$119,574
Georgianne HewettVP of DevelopmentFT$102,086$12,969$115,055
Mark LenhardChief Operations OfficerFT$86,077$2,945$89,022

Board Members and Trustees

NameTitle
Dale a SchultzBoard Chair
Ed KomandoskyBoard Vice-chair
Art RodriguezBoard Member
Bob L SoulenBoard Member
Brad BrittainBoard Member
Candy GrossBoard Member
Corliss McbrideBoard Member
George a BrightwellBoard Member
Glenda D WhiteheadBoard Member
Jackie S HammarBoard Member
Jeannine W FairburnBoard Member
Jeff a MillerBoard Member
Jeffrey a SmithBoard Member
Kantrice S RobinsonBoard Member
Lara W FranklinBoard Member
Linda K GusnowskiBoard Member
Lynne GrandstaffBoard Member
Michael D FordBoard Member
Mike LowryBoard Member
Nancy B BenoldBoard Member
Nancy a WoodsBoard Member
Nathaniel BonnerBoard Member
Pat StromanBoard Member
Renee HenryBoard Member
Rev Darren WalkerBoard Member
Richard F LacagninaBoard Member
Travis L SummerlinBoard Member
William H ConnorBoard Member
William M BoothBoard Member
Yvonne CoonBoard Member
Patty R LeeBoard Secretary
Gene L LawhomBoard Treasurer
Clifton O HowardFormer Board Member
Katherine F LongFormer Board Member
Steve LangfordFormer Board Member
Tom a ForbesFormer Board Member
Travis T FranklinFormer Board Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Morrison Community LivingDining FacilitatorPO BOX 102289, Atlanta, GA 30368-2289$2,050,970
Select Rehabilitation INCRehabPO BOX 809056, Chicago, IL 60680$1,745,217
Advanced PharmacyPharmacy ServicesPO BOX 105553, Uniondale, NY 11555-0553$209,500
Studio Six 5 INCInterior Design811 BARTON SPRINGS RD STE 800, Austin, TX 78704$179,283
KronosCloud Hosting & Hardware/software Mainte900 CHELMSFORD ST, Lowell, MA 01851$119,836
Revenue and Support

Revenue Composition

Contributions and Grants
$184,434
Program Service Revenue
$29,082,328
Investment Income
$482,645
Other Revenue
$302,434
Change in Net Assets
$449,915

Audited Revenue Reconciliation

Revenue per Audited Statements
$30,051,841
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$191,843
Total Revenue per Audited Statements
$30,243,684
Total Revenue per Form 990
$30,051,841
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$16,385,068
Other Expenses$13,216,858
Total Fundraising Expense$206,721
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,454,616$686,732$140,851$13,282,199
Interest$2,148,252$118,452$57$2,266,761
Depreciation Depletion$1,768,029$97,487-$1,865,516
Other Employee Benefits$1,399,263$77,154$7,952$1,484,369
Fees for Services Other$1,040,302$57,361$454$1,098,117
Occupancy$809,803$44,652$1,609$856,064
Payroll Taxes$734,546$40,502$10,638$785,686
Other Expenses$608,539$33,554-$642,093
All Other Expenses$543,835$29,984$20,144$593,963
Office Expenses$492,045$27,131$12,293$531,469
Current Officers, Directors, Trustees, and Key Employees-$437,291-$437,291
Pension Plan Contributions$369,220$20,358$5,945$395,523
Insurance$308,983$17,037$1,717$327,737
Travel$118,511$6,535$1,958$127,004
Information Technology$75,669$4,172-$79,841
Fees for Services Legal$71,485$3,942-$75,427
Advertising$47,566$2,623$3,103$53,292
Fees for Service Investment Mgmnt Fees$47,886$2,640-$50,526
Fees for Services Accounting$25,276$1,394-$26,670
Total Functional Expenses$27,444,650$1,950,555$206,721$29,601,926

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$29,601,926
Total Expenses per Audited Statements$29,601,926
Total Expenses per Form 990$29,601,926
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Entrance Fees$1,336,871
Security Deposits$142,750

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANew Hope Cultural Education Facilities Finance Corporation2014-12-03$53,550,122Refinance certain tax-exempt notes & finance construction and certain funds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$53,550,122$22,028,619$1,195,000$1,071,002

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the board, ceo and cfo prior to filing. The return is reviewed for accuracy with any changes being discussed and submitted to the cpa firm preparing the return.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy applies to all members and officers of the board of trustees as well as key management employees. Upon date of employment or appointment onto board, these individuals must sign a conflict of interest statement stating that they have read and are familiar with the by-laws and, in particular, article 66 regarding conflict of interest, and that they will comply with requirement to report, in writing, any apparent conflict of interest to the board chair. The board chair in consultation with appropriate board members and key management will determine if a conflict exists and determine appropriate restrictions on a case-by-case basis for an individual with a conflict of interest. The conflict of interest policy was reviewed and updated statements were signed by all board members during a 2017 board meeting.

Form 990, Part VI, Section B, Line 15

The salaries for the ceo and other key employees are set by the executive committee of the board each october for the following year. Each committee member is provided with the salary history of each of these employees since his/her employment date. The human resource manager participates each year in the salary surveys for leading age and leading age texas. The results of these surveys are provided to the ceo to present to the executive committee. The ceo discusses each employee's strengths, weaknesses, accomplishments, and overall performance with this committee. The committee takes all of this information, along with their perception of the employee based on their own interactions, and determines, by employee, the salary adjustment to be made. Then, the ceo leaves the meeting, and the committee goes through the same procedure to evaluate him. The board chair gathers all of the information on raises and signs off. The documentation is then forwarded to the cfo for processing after the last payroll of the year.

Form 990, Part VI, Section C, Line 19

The governing documents, policies, and financial statements are made available to the public upon request from management.

Filing and Contact Details

Filer

Filer Name
Wesleyan Homes Inc
EIN
74-1459599
Phone
5128681205
Address
PO BOX 486, GEORGETOWN, TX 78627

Signing Officer

Name
Kevin Byrne
Title
Chief Financial Officer
Phone
5128681205
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Byrne
Formed
1955
Legal Domicile
TX
Voting Board Members
35
Independent Board Members
35
Employees
658
Volunteers
500

Preparer

Firm
Cliftonlarsonallen Llp
Address
5001 SPRING VALLEY ROAD SUITE 600W, DALLAS, TX 75244
Preparer
Michael Siegel
Phone
9723835700
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in investment value of risk retention group 141,182. Equity transfer -45,645.

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

The organization's income tax returns are subject to review and examination by federal and state authorities. The organization is not aware of any activities that would jeopardize its tax-exempt status. The organization reports any activities that are subject to tax on unrelated business income or excise or other taxes, and files proper returns related to these activities.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in investment in risk retention group 141,182.

Raw XML AppendixShowing 400 of 1,016 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0WESLEYAN HOMES, INC. CURRENTLY PROVIDES HOSPICE AND HOME HEALTH SERVICES AND OPERATES THREE FACILITIES LOCATED IN GEORGETOWN, TEXAS. (1) THE WESLEYAN AT ESTRELLA INDEPENDENT LIVING, A 246-UNIT INDEPENDENT LIVING RETIREMENT COMMUNITY, PROVIDING HOUSING, DIETARY AND OTHER RELATED SERVICES, (2) THE WESLEYAN AT ESTRELLA ASSISTED LIVING, A 84-UNIT ASSISTED LIVING RETIREMENT COMMUNITY, PROVIDING CERTIFIED MEMORY CARE SERVICES, AND (3) THE WESLEYAN AT SCENIC, A 184-BED LICENSED NURSING FACILITY, PROVIDING TWENTY-FOUR HOURS PER DAY SKILLED NURSING CARE, HOSPICE, REHABILITATION AND OTHER RELATED SERVICES. THESE PROFESSIONAL PATIENT CARE AND BENEFITS ARE PROVIDED REGARDLESS OF FINANCIAL CONSIDERATIONS AND QUALIFICATIONS. WESLEYAN HOMES SERVED OVER 1,000 RESIDENTS IN 2017.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Summary only. Only limited summary data is available for this year.$93.8$85.2$8.55$27.3$27.3$0.00
2023Summary only. Only limited summary data is available for this year.$94.9$86.5$8.48$30.1$31.1$0.97
2022Summary only. Only limited summary data is available for this year.$98.4$89.5$8.96$33.6$35.2$1.62
2021Summary only. Only limited summary data is available for this year.$102$90.9$11.3$32.4$34.1$1.64
2020Summary only. Only limited summary data is available for this year.$105$92.4$13.0$34.9$37.6$2.68
2019Summary only. Only limited summary data is available for this year.$107$92.1$15.2$31.4$31.9$0.51
2018Summary only. Only limited summary data is available for this year.$71.7$56.4$15.3$32.3$31.4$0.88
2017Detailed filing. Detailed filing data is available for this year.$73.8$58.8$15.0$30.1$29.6$0.45
2016Summary only. Only limited summary data is available for this year.$73.1$58.7$14.4$25.0$24.1$0.90
2015Summary only. Only limited summary data is available for this year.$70.4$57.0$13.4$22.2$21.7$0.51
2014Summary only. Only limited summary data is available for this year.$71.1$55.8$15.2$22.5$19.8$2.70
2013Summary only. Only limited summary data is available for this year.$37.2$24.7$12.5$19.7$19.6$0.01
2012Summary only. Only limited summary data is available for this year.$37.4$25.0$12.4$19.0
2011Summary only. Only limited summary data is available for this year.$36.2$25.4$10.9$18.0
2010Summary only. Only limited summary data is available for this year.$35.4$24.7$10.7$17.2