Wells College

Analysis

Wells College is a registered charity in United States, based in Aurora, NY. It received its IRS tax-exemption ruling in June 1950, 76 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Wells College reported income of $29.6m and spending of $32.8m, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $33.1m to $29.6m (-10%), an average of -2.7% a year. The sharpest change came in the year to June 2022, when income rose by 28%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wells College sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within NY. Charities of a similar size with the same main cause include Santa Fe Indian School ($29.6m), Roxbury Latin School Inc ($29.6m) and The Childrens Scholarship Fund ($29.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 32% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $1.1m (3.4% of expenses). Other salaries and wages came to $8.9m. At year end it held assets of $69.2m against liabilities of $7.9m, net assets of $61.2m. It reported 518 employees.