Wellspring Family Services

Analysis

Wellspring Family Services is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in November 1923, 103 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, Wellspring Family Services reported income of $31.3m and spending of $31.2m, spending 100% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $15.0m to $31.3m (+108%), an average of +28% a year. The sharpest change came in the year to December 2020, when income rose by 82%. Over the whole period it spent 97% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Wellspring Family Services 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 WA. Charities of a similar size with the same main cause include New Directions Youth and Family Services Inc ($31.3m), Life Patterns Inc ($31.4m) and Friends of Switchpoint Inc ($31.3m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 38% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $1.0m (3.3% of expenses). Other salaries and wages came to $8.3m. At year end it held assets of $19.4m against liabilities of $9.8m, net assets of $9.7m. It reported 178 employees.