Well of Mercy

Analysis

Well of Mercy is a registered charity in United States, based in Hamptonville, NC. It received its IRS tax-exemption ruling in March 1946, 80 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Well of Mercy reported income of $919k and spending of $721k, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $507k to $919k (+81%), an average of +16% a year. The sharpest change came in the year to June 2021, when income rose by 41%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Well of Mercy sits at the 77th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within NC. Charities of a similar size with the same main cause include CCSR Inc ($919k), Wee Pals Child Care Center Inc ($919k) and The Jefferson County Food Bank Association ($919k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $72k (10.0% of expenses). Other salaries and wages came to $275k. At year end it held assets of $2.4m against liabilities of $27k, net assets of $2.4m. It reported 15 employees.