2025-11-13T05:23:38-06:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 500 EAST PRATT STREET 4TH FLOOR BALTIMORE MD 21202 990 2024-01-01 205289427 WESLEY RYDELL HOUSING CORPORATION WESL 7036423830 2311 HUNTINGTON AVENUE 204 ALEXANDRIA VA 22303 KAMILAH MCAFEE CEO 7036423830 2025-11-10 1 1 DAMIEN NICKLE P00802786 4107834900 2024 2025-03-06 01:10:19Z KAMILAH MCAFEE 2311 HUNTINGTON AVENUE 204 ALEXANDRIA VA 22303 1908647 0 X N/A X 2005 VA TO PROVIDE 98 UNITS OF AFFORDABLE HOUSING TO FAMILIES AND INDIVIDUALS. 3 2 0 2 0 0 0 0 1775814 1902275 7649 6358 0 14 1783463 1908647 0 0 0 0 216308 42754 0 0 0 1644577 1956194 1860885 1998948 -77422 -90301 11603285 11321146 15230956 15039118 -3627671 -3717972 TO PROVIDE 98 UNITS OF AFFORDABLE HOUSING TO FAMILIES AND INDIVIDUALS. 0 0 1777108 1902289 TO PROVIDE 98 UNITS OF AFFORDABLE HOUSING TO FAMILIES AND INDIVIDUALS. 1777108 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 2 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X CHRIS CHERRY CFO 7036423830 2311 HUNTINGTON AVENUE ALEXANDRIA VA 22303 KAMILAH MCAFEE SECRETARY/BOARD MEMBER 0.20 40.00 X X 0 270674 28094 MICHAEL T CRANNA PRESIDENT 0.20 1.00 X X 0 0 0 KIMBERLY ARMSTRONG TREASURER 0.20 1.00 X X 0 0 0 CHRIS CHERRY CFO 0.20 40.00 X 0 209160 18495 0 479834 46589 0 0 1 0 0 RENTAL REVENUE 531110 1391230 1391230 RENTAL ASSISTANCE PAYM 531110 496509 496509 TENANT CHARGES 531110 14536 14536 1902275 6358 6358 14 14 14 1908647 1902289 0 6358 X 30995 30995 11759 11759 281678 186585 95093 998 998 13590 13590 9147 9147 16930 16930 634297 634297 534044 534044 113157 113157 345310 345310 4075 4075 DUES & SUBSCRIPTIONS 1201 1201 OTHER RENTAL EXPENSES 1039 1039 BAD DEBTS 538 538 OTHER TAXES AND LICENSE 190 190 1998948 1777108 221840 0 170329 243742 128795 122622 13020 6709 17002340 6105690 11241960 10896650 49181 51423 11603285 11321146 1757571 1860947 9718 2731 39064 39242 13424603 13136198 15230956 15039118 X -3627671 -3717972 -3627671 -3717972 11603285 11321146 -90301 0 X 0 1 X 1 0 X 1636795 1676059 1683441 1775814 1902275 8674384 1636795 1676059 1683441 1775814 1902275 8674384 0 0 0 8674384 692 170 1444 7649 6358 16313 692 170 1444 7649 6358 16313 14 14 1637487 1676229 1684885 1783463 1908647 8690711 0.99810 0.99860 0.00190 0.00140 X SCHEDULE A, PART III, LINE 12, EXPLANATION FOR OTHER INCOME: MISCELLANEOUS INCOME $14 1 1 X 6471000 6471000 10395363 5981235 4414128 20653 13041 7612 115324 111414 3910 10896650 X 1908647 0 1908647 0 1908647 1998948 0 1998948 0 1998948 PART IV, LINE 2B: THE AMOUNT OF $39,242 ON THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION REPRESENTS FUNDS DEPOSITED IN A SAVINGS ACCOUNT WITH A BALANCE WHICH IS AT LEAST EQUAL TO THE TENANTS' SECURITY DEPOSITS. VIRGINIA RENT ESCROW LAW REQUIRES THE CORPORATION TO MAINTAIN A SEPARATE ACCOUNT FOR DEPOSITS PAID BY THE TENANTS, AND TO CREDIT THE DEPOSITS ANNUALLY WITH INTEREST AT 4% BELOW THE FEDERAL RESERVE BOARD DISCOUNT RATE AS OF JANUARY 1 OF EACH YEAR. TENANT SECURITY DEPOSITS ARE HELD IN A FEDERALLY INSURED BANK. PART X, LINE 2: THE CORPORATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR UNRELATED BUSINESS INCOME AS DEFINED IN THE CODE. THE CORPORATION DID NOT HAVE ANY UNRELATED BUSINESS INCOME DURING THE YEAR ENDED DECEMBER 31, 2024. DUE TO ITS TAX-EXEMPT STATUS, THE CORPORATION IS NOT SUBJECT TO INCOME TAXES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE CORPORATION WILL BE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE INTERNAL REVENUE SERVICE, TAX YEARS SINCE 2021 REMAIN OPEN. 0 0 0 0 0 0 0 0 0 KAMILAH MCAFEE SECRETARY/BOARD MEMBER 0 270674 0 0 0 0 0 11000 0 17094 0 298768 0 0 CHRIS CHERRY CFO 0 209160 0 0 0 0 0 8566 0 9929 0 227655 0 0 FORM 990, PART VI, SECTION A, LINE 3 THE PROJECT IS OBLIGATED UNDER THE TERMS OF A MANAGEMENT AGREEMENT WITH WESLEY PROPERTY MANAGEMENT COMPANY LLC (WPMC), AN AFFILIATE ORGANIZATION. UNDER THE TERMS OF THE AGREEMENT, THE PROJECT WILL PAY A FEE TOTALING 5% OF GROSS RENTAL COLLECTIONS TO WPMC FOR PROPERTY MANAGEMENT SERVICES. THE CALCULATED FEE IS PAID ON A MONTHLY BASIS. DURING THE YEAR ENDED DECEMBER 31, 2024, PROPERTY MANAGEMENT FEES TOTALING $95,093 WERE CHARGED TO OPERATIONS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ARE ELECTED BY A MAJORITY VOTE OF THE WESLEY HOUSING DEVELOPMENT CORPORATION OF NORTHERN VIRGINIA (WHDC) BOARD OF DIRECTORS IN ACCORDANCE WITH THE ARTICLES OF INCORPORATION SECTION IV. WHDC IS THE SOLE MEMBER OF WESLEY RYDELL HOUSING CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 IS SENT TO THE GOVERNING BODY (BOARD OF DIRECTORS). THE BOARD OF DIRECTORS REVIEWS THE FORM 990 AND RESOLVES ANY QUESTIONS. THE BOARD OF DIRECTORS SENDS APPROVAL TO THE TAX PREPARER TO FINALIZE THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICTS OF INTEREST POLICY REQUIRES EACH DIRECTOR AND/OR OFFICER TO ANNUALLY DISCLOSE HIS/HER KNOWLEDGE AND UNDERSTANDING OF THE POLICY WHICH INCLUDES THE DUTY OF THE DIRECTOR AND/OR OFFICER TO DISCLOSE TO THE BOARD OF DIRECTORS ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. THE BOARD OF DIRECTORS (EXCLUDING ANY MEMBER WHICH IS PARTY TO THE CONFLICT) IS RESPONSIBLE FOR REVIEWING THE POTENTIAL CONFLICT AND MAKING THE DETERMINATION IF AN ACTUAL CONFLCT OF INTEREST EXISTS. UPON KNOWLEDGE THAT A CONFLICT WAS NOT PROPERLY DISCLOSED TO THE BOARD OF DIRECTORS, APPROPRIATE CORRECTIVE AND DISCIPLINARY ACTIONS SHALL BE TAKEN. INDIVIDUALS PARTY TO ANY CONFLICTS OF INTEREST SHALL BE PRECLUDED FROM VOTING ON ANY MATTERS ASSOCIATED WITH THE ARRANGEMENT OR TRANSACTION INVOLVING SUCH CONFLICT. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 16 OCCUPANCY EXPENSE: UTILITIES $97,196 PROPERTY INSURANCE $40,682 REPAIRS & MAINTENANCE $316,057 REAL ESTATE TAXES $180,362 TOTAL OCCUPANCY EXPENSE $634,297 ACT V INC 2311 HUNTINGTON AVENUE ALEXANDRIA VA 22303 541527218 HOUSING AND SERVICES FOR LOW AND MODERATE INCOME FAMILIES VA 501(C)(3) PF WESLEY HOUSING DEVELOPMENT CORPORATION OF NORTHERN VIRGINIA 0 CIRCLE PROPERTIES INC 2311 HUNTINGTON AVENUE ALEXANDRIA VA 22303 541149593 HOUSING AND SERVICES FOR LOW AND MODERATE INCOME FAMILIES - 74 UNITS VA 501(C)(4) WESLEY HOUSING DEVELOPMENT CORPORATION OF NORTHERN VIRGINIA 0 PERRY S HALL INC 2311 HUNTINGTON AVENUE ALEXANDRIA VA 22303 541358850 HOUSING AND SERVICES FOR LOW AND MODERATE INCOME FAMILIES VA 501(C)(3) LINE 10 WESLEY HOUSING DEVELOPMENT CORPORATION OF NORTHERN VIRGINIA 0 SEVEN CORNERS APT INC 2311 HUNTINGTON AVENUE ALEXANDRIA VA 22303 541246483 HOUSING AND SERVICES FOR LOW AND MODERATE INCOME FAMILIES VA 501(C)(4) WESLEY HOUSING DEVELOPMENT CORPORATION OF 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