Wells Family Foundation Inc

Analysis

Wells Family Foundation Inc is a registered charity in United States, based in Lancaster, CA. It received its IRS tax-exemption ruling in September 2022, 4 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, Wells Family Foundation Inc reported income of $71k and spending of $50k, leaving 31% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $55k to $71k (+29%), an average of +29% a year. The sharpest change came in the year to December 2023, when income rose by 29%. Over the whole period it spent 71% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Wells Family Foundation Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 30th percentile within CA. Charities of a similar size with the same main cause include Second Hand Rose the Thrift Shop Inc ($71k), Crisis Services Foundation Inc ($71k) and Legacy Events for Education Inc ($71k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $36k against liabilities of $0, net assets of $36k.