Wellspring

Analysis

Wellspring is a registered charity in United States, based in Springfield, OH. It received its IRS tax-exemption ruling in December 1965, 61 years ago. 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, Wellspring reported income of $742k and spending of $895k, spending 121% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $805k to $742k (-7.8%), an average of -2.0% a year. The sharpest change came in the year to June 2023, when income dropped by 16%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wellspring sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within OH. Charities of a similar size with the same main cause include Northeast Kentucky Regional Health Information Organization Inc ($742k), Mid-Cities Care Corps ($742k) and Park Slope Fifth Avenue District Management Association Inc ($742k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $79k (8.9% of expenses). Other salaries and wages came to $520k. At year end it held assets of $83k against liabilities of $64k, net assets of $19k. It reported 19 employees.