Wellspring Cultural and Educational Foundation Inc

Analysis

Wellspring Cultural and Educational Foundation Inc is a registered charity in United States, based in Milford, CT. It received its IRS tax-exemption ruling in November 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Wellspring Cultural and Educational Foundation Inc reported income of $342k and spending of $326k, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $154k to $342k (+123%), an average of +22% a year. The sharpest change came in the year to June 2022, when income rose by 65%. Over the whole period it spent 77% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wellspring Cultural and Educational Foundation Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 61st percentile within CT. Charities of a similar size with the same main cause include Montgomery County Cancer Association ($342k), NJ Education and Parnasah Institute ($342k) and C I R C L E ($342k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 4.6% of the total. Compensation of current officers, directors and key employees was $89k (27% of expenses). Other salaries and wages came to $43k. At year end it held assets of $1.4m against liabilities of $952k, net assets of $431k. It reported 2 employees.