Wellspring Second Chance Center

Analysis

Wellspring Second Chance Center is a registered charity in United States, based in Brooklyn Center, MN. It received its IRS tax-exemption ruling in January 2010, 16 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. 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 Second Chance Center reported income of $695k and spending of $699k, spending 101% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $429k to $695k (+62%), an average of +62% a year. The sharpest change came in the year to December 2023, when income rose by 62%. Over the whole period it spent 101% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Wellspring Second Chance Center sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 74th percentile within MN. Charities of a similar size with the same main cause include Love& Hope Rescue Mission ($695k), Ouachita Valley Health System ($695k) and Sutter Davis Hospital Foundation and Community Board ($695k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 3.8% of the total. Compensation of current officers, directors and key employees was $83k (12% of expenses). Other salaries and wages came to $208k. It paid $7,500 in professional fundraising fees. At year end it held assets of $113k against liabilities of $44k, net assets of $69k. It reported 7 employees.