The Wellspring Group Inc

Analysis

The Wellspring Group Inc is a registered charity in United States, based in Spring, TX. It received its IRS tax-exemption ruling in May 2004, 22 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 March 2024, The Wellspring Group Inc reported income of $1.8m and spending of $1.7m, spending 95% of its income. Across the 6 years on record, from March 2019 to March 2024, income grew from $244k to $1.8m (+622%), an average of +48% a year. The sharpest change came in the year to March 2020, when income rose by 289%. Over the whole period it spent 97% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, The Wellspring Group Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 88th percentile within TX. Charities of a similar size with the same main cause include Institute for Christoformity ($1.8m), Gabriel Media ($1.8m) and Links Players International Inc ($1.8m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 89% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $501k (30% of expenses). Other salaries and wages came to $334k. At year end it held assets of $790k against liabilities of $18k, net assets of $772k. It reported 11 employees.