Wellmore Inc

Analysis

Wellmore Inc is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in March 1953, 73 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Wellmore Inc reported income of $20.6m and spending of $19.9m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $19.3m to $20.6m (+6.4%), an average of +1.6% a year. The sharpest change came in the year to June 2023, when income rose by 15%. Over the whole period it spent 95% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Wellmore Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within CT. Charities of a similar size with the same main cause include Harrison Community Hospital Inc ($20.6m), Central Suffolk Hospital Foundation ($20.6m) and Somos Healthcare Providers Inc ($20.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $884k (4.4% of expenses). Other salaries and wages came to $11.6m. At year end it held assets of $16.3m against liabilities of $7.4m, net assets of $8.9m. It reported 320 employees.