Wellspring Ministries of Alaska Inc

Analysis

Wellspring Ministries of Alaska Inc is a registered charity in United States, based in Anchorage, AK. It received its IRS tax-exemption ruling in January 2001, 25 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 June 2023, Wellspring Ministries of Alaska Inc reported income of $1.0m and spending of $1.0m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $828k to $1.0m (+25%), an average of +5.8% a year. The sharpest change came in the year to June 2022, when income rose by 47%. Over the whole period it spent 74% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Wellspring Ministries of Alaska Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 78th percentile within AK. Charities of a similar size with the same main cause include Agape Christi Academy ($1.0m), Servant of Jesus & Mary ($1.0m) and Great Commission Media Ministries - USA ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 55% and program service revenue 19% of the total. Other salaries and wages came to $271k. At year end it held assets of $5.4m against liabilities of $2.1m, net assets of $3.3m. It reported 22 employees.