Wells of Salvation Inc

Analysis

Wells of Salvation Inc is a registered charity in United States, based in Dayton, OH. It received its IRS tax-exemption ruling in June 1980, 46 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 December 2023, Wells of Salvation Inc reported income of $169k and spending of $181k, spending 108% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $206k to $169k (-18%), an average of -9.5% a year. The sharpest change came in the year to December 2023, when income dropped by 19%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wells of Salvation Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 50th percentile within OH. Charities of a similar size with the same main cause include Lanterman Historical Museum Foundation ($169k), Bell Memorial Library ($169k) and Parakaleo Christian Ministries Inc ($169k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 28% of the total. At year end it held assets of $37k against liabilities of $4,164, net assets of $33k.