2025-11-13T04:43:49-06:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 500 EAST PRATT STREET 4TH FLOOR BALTIMORE MD 21202 990 2024-01-01 330998489 WESLEY ASI OF NORTHERN VIRGINIA WESL 7036423830 2311 HUNTINGTON AVENUE ALEXANDRIA VA 22303 KAMILAH MCAFEE SECRETARY 7036423830 2025-11-10 1 0 DAMIEN NICKLE P00802786 4107834900 2024 2025-03-06 01:10:19Z KAMILAH MCAFEE 2311 HUNTINGTON AVENUE ALEXANDRIA VA 22303 263556 0 X N/A X 2002 VA PROVIDE LOW-INCOME HOUSING AND SERVICES TO HANDICAPPED PEOPLE LIVING IN 22 UNITS. 3 2 0 7 0 0 0 186742 244205 76746 70 68 0 0 244275 263556 0 0 0 0 72558 15658 0 0 0 213177 286591 285735 302249 -41460 -38693 2010633 1977378 2963745 2969183 -953112 -991805 TO PROVIDE LOW INCOME HOUSING AND SERVICES FOR PERSONS WITH DISABILITIES IN A 22 UNIT FACILITY. 0 0 260002 76746 PROVIDES 22 UNITS OF LOW-INCOME HOUSING AND SERVICES TO PERSONS WITH DISABILITIES 260002 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 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 0 0 0 0 X CHRIS CHERRY CFO 7036423830 2311 HUNTINGTON AVENUE ALEXANDRIA VA 22303 KAMILAH MCAFEE SECRETARY 0.20 40.00 X X 0 270674 28094 KIMBERLY ARMSTRONG TREASURER 0.20 1.00 X X 0 0 0 MICHAEL T CRANNA PRESIDENT 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 186742 186742 RENTAL INCOME 531110 68310 68310 LAUNDRY & VENDING 531110 4574 4574 TENANT CHARGES 531110 3862 3862 76746 68 68 263556 76746 0 68 X 12612 12612 3046 3046 75277 49460 25817 821 821 16430 16430 7667 7667 2201 2201 115467 115467 43 43 61577 61577 915 915 BAD DEBTS 3510 3510 FINANCIAL EXPENSES 1261 1261 TAXES, LICENSES & PERMI 1226 1226 OTHER RENTING EXPENSES 196 196 302249 260002 42247 0 5270 12352 141529 145565 313 1514 2998000 1187125 1856067 1810875 7454 7072 2010633 1977378 3056 9097 1689 1081 5953 5958 2534800 2534800 418247 418247 2963745 2969183 X -953112 -991805 -953112 -991805 2010633 1977378 -38693 0 X 0 1 X 1 1 1 X 5000 186742 191742 225645 242335 235327 244205 76746 1024258 225645 242335 240327 244205 263488 1216000 0 0 0 1216000 239 123 66 70 68 566 239 123 66 70 68 566 28817 28817 254701 242458 240393 244275 263556 1245383 0.97640 0.97590 0.00050 0.00040 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 525000 525000 2364660 1085198 1279462 108340 101927 6413 1810875 DUE TO WHDC 418247 418247 X 263556 0 263556 0 263556 302249 0 302249 0 302249 PART IV, LINE 2B: THE AMOUNT OF $5,958, AS OF DECEMBER 31, 2024, ON THE STATEMENT OF FINANCIAL POSITION, REPRESENTS FUNDS DEPOSITED IN A SAVINGS ACCOUNT WITH A BALANCE WHICH SHOULD BE 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 HAS APPLIED FOR AND RECEIVED A DETERMINATION FROM THE INTERNAL REVENUE SERVICE ("IRS") TO BE TREATED AS A TAX-EXEMPT ENTITY PURSUANT TO SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2024. DUE TO ITS TAX-EXEMPT STATUS, THE CORPORATION IS NOT SUBJECT TO INCOME TAXES. THE CORPORATION IS REQUIRED TO FILE AND DOES FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THE CORPORATION HAS NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. INCOME TAX RETURNS FILED BY THE CORPORATION ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2021 REMAIN OPEN. 0 0 0 0 0 0 0 0 0 KAMILAH MCAFEE SECRETARY 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 CORPORATION 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 CORPORATION WILL PAY A FEE TOTALING 10% 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 $25,817 WERE CHARGED TO OPERATIONS. FORM 990, PART VI, SECTION A, LINE 7A BOARD OF DIRECTORS ARE ELECTED BY A MAJORITY VOTE OF THE MEMBERS. ALL DIRECTORS MUST BE MEMBERS OR DIRECTORS OF WESLEY HOUSING DEVELOPMENT CORPORATION OF NORTHERN VIRGINIA (WHDC) AND ACCESSIBLE SPACE, INC. IN ACCORDANCE WITH THE ARTICLES OF INCORPORATION ARTICLE IV AND BYLAWS ARTICLE II 2.2. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT TAX RETURN IS SENT TO THE GOVERNING BODY (BOARD OF DIRECTORS). THE BOARD OF DIRECTORS REVIEWS THE RETURN 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 CONFLICT 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 CONFLICT 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 $30,612 REPAIRS & MAINTENANCE $65,931 REAL ESTATE TAXES $10,355 PROPERTY & LIABILITY INSURANCE $8,569 TOTAL OCCUPANCY EXPENSE $115,467 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 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