Wellspire LLC

Analysis

Wellspire LLC is a registered charity in United States, based in Johnston, IA. It received its IRS tax-exemption ruling in April 2023, 3 years ago. 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 December 2023, Wellspire LLC reported income of $28.1m and spending of $32.6m, spending 116% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $21.3m to $28.1m (+32%), an average of +32% a year. The sharpest change came in the year to December 2023, when income rose by 32%. Over the whole period it spent 118% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wellspire LLC sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within IA. Charities of a similar size with the same main cause include Le Jardin Academy Inc ($28.1m), New Hampshire Public Defender ($28.2m) and Boys & Girls Clubs of the Valley Inc ($28.1m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 96% of the total. Other salaries and wages came to $14.4m. At year end it held assets of $88.8m against liabilities of $78.4m, net assets of $10.4m. It reported 623 employees.