Wellspring Educational Services Inc

Analysis

Wellspring Educational Services Inc is a registered charity in United States, based in Walnut Creek, CA. It received its IRS tax-exemption ruling in December 2013, 13 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Wellspring Educational Services Inc reported income of $4.0m and spending of $3.2m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $4.0m (+16%), an average of +3.7% a year. The sharpest change came in the year to June 2021, when income rose by 16%. Over the whole period it spent 77% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wellspring Educational Services Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Alliance Charter Academy ($4.0m), PMC Support Corporation ($4.0m) and University Health Services Inc ($4.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $261k (8.2% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $5.6m against liabilities of $323k, net assets of $5.2m. It reported 103 employees.