Welllife Network Inc

Analysis

Welllife Network Inc is a registered charity in United States, based in New Hyde Park, NY. It received its IRS tax-exemption ruling in October 1980, 46 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Welllife Network Inc reported income of $133.9m and spending of $130.5m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $113.6m to $133.9m (+18%), an average of +4.2% a year. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Welllife Network Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Metropolitan Family Services ($133.8m), Food Bank Contra Costa and Solano ($134.7m) and The Moorings Incorporated ($132.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.6% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $796k (0.6% of expenses). Other salaries and wages came to $69.0m. At year end it held assets of $129.6m against liabilities of $102.5m, net assets of $27.0m. It reported 1,529 employees.