Wellsprings Village Inc

Analysis

Wellsprings Village Inc is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in September 1988, 38 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 2022, Wellsprings Village Inc reported income of $487k and spending of $502k, spending 103% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $427k to $487k (+14%), an average of +4.5% a year. Over the whole period it spent 112% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Wellsprings Village Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 74th percentile within TX. Charities of a similar size with the same main cause include San Francisco Bay Area Little Brothers - Friends of the Elderly ($487k), Wee Care Inc ($488k) and Step by Step Inc ($487k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 106% of the total. Compensation of current officers, directors and key employees was $70k (14% of expenses). Other salaries and wages came to $178k. At year end it held assets of $1.8m against liabilities of $177k, net assets of $1.6m. It reported 13 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.