Well-Spring Foundation

Analysis

Well-Spring Foundation is a registered charity in United States, based in Greensboro, NC. It received its IRS tax-exemption ruling in April 2001, 25 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Well-Spring Foundation reported income of $945k and spending of $1.3m, spending 140% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $626k to $945k (+51%), an average of +11% a year. The sharpest change came in the year to December 2020, when income rose by 131%. Over the whole period it spent 50% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Well-Spring Foundation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within NC. Charities of a similar size with the same main cause include Ruth Cheatham Foundation College Fund ($945k), Corvallis Public Schools Foundation ($946k) and United Way of Kentucky ($944k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% of the total. At year end it held assets of $11.7m against liabilities of $602k, net assets of $11.1m.