Wellmed Charitable Foundation

Analysis

Wellmed Charitable Foundation is a registered charity in United States, based in San Antonio, TX. It received its IRS tax-exemption ruling in May 2007, 19 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 December 2023, Wellmed Charitable Foundation reported income of $3.8m and spending of $4.0m, spending 103% of its income. Across the 6 years on record, from December 2018 to December 2023, income fell from $4.4m to $3.8m (-12%), an average of -2.5% a year. The sharpest change came in the year to December 2019, when income rose by 46%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wellmed Charitable Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within TX. Charities of a similar size with the same main cause include African American Leadership Forum ($3.8m), Elizabeth Ann Clune Montessori School of Ithaca ($3.8m) and Leadership Preparotory Academy Inc ($3.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Other salaries and wages came to $441k. At year end it held assets of $4.2m against liabilities of $735k, net assets of $3.4m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.