Wellspring Living SC

Analysis

Wellspring Living SC is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in November 2009, 17 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Wellspring Living SC reported income of $252k and spending of $208k, spending 83% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $157k to $252k (+61%), an average of +61% a year. The sharpest change came in the year to December 2023, when income rose by 61%. Over the whole period it spent 85% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Wellspring Living SC sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 63rd percentile within SC. Charities of a similar size with the same main cause include Delano Commons Senior Housing ($252k), Providence Blanchet Association ($252k) and Exchange Sunshine Home Corporation ($252k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $38k (18% of expenses). At year end it held assets of $230k against liabilities of -$10k, net assets of $240k. It reported 1 employees.