Well-Spring Ret Community

Analysis

Well-Spring Ret Community is a registered charity in United States, based in Greensboro, NC. It received its IRS tax-exemption ruling in November 1987, 39 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Well-Spring Ret Community reported income of $39.9m and spending of $41.1m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $33.0m to $39.9m (+21%), an average of +4.8% a year. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Well-Spring Ret Community sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Waverly Heights ($39.9m), Episcopal Retirement Homes Inc ($40.0m) and Forestdale Inc ($39.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.4% and program service revenue 93% of the total. Other salaries and wages came to $15.8m. At year end it held assets of $138.7m against liabilities of $96.6m, net assets of $42.1m. It reported 652 employees.