Wellspring Adoption Agency Inc

Analysis

Wellspring Adoption Agency Inc is a registered charity in United States, based in Golden Valley, MN. It received its IRS tax-exemption ruling in April 1992, 34 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Adoption Agency Inc reported income of $767k and spending of $761k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $824k to $767k (-7.0%), an average of -1.8% a year. Over the whole period it spent 90% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Wellspring Adoption Agency Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MN. Charities of a similar size with the same main cause include Radio Waves of Love Inc ($767k), Quran Foundation Inc ($767k) and DC Ministries Inc ($766k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.7% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $207k (27% of expenses). Other salaries and wages came to $221k. At year end it held assets of $1.1m against liabilities of $0, net assets of $1.1m. It reported 8 employees.