Wellcore Inc

Analysis

Wellcore Inc is a registered charity in United States, based in Blauvelt, NY. It received its IRS tax-exemption ruling in January 2008, 18 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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, Wellcore Inc reported income of $873k and spending of $855k, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $502k to $873k (+74%), an average of +15% a year. The sharpest change came in the year to June 2023, when income rose by 70%. Over the whole period it spent 101% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Wellcore Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within NY. Charities of a similar size with the same main cause include Heartmatters Inc ($873k), Top Buttons Inc ($873k) and Prosper Sports Association Inc ($873k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $190k (22% of expenses). Other salaries and wages came to $247k. At year end it held assets of $175k against liabilities of $83k, net assets of $92k. It reported 32 employees.