Wellspring Foundation for Education

Analysis

Wellspring Foundation for Education is a registered charity in United States, based in Canada. It received its IRS tax-exemption ruling in August 2014, 12 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3).

In the financial year ending December 2023, Wellspring Foundation for Education reported income of $1.8m and spending of $1.8m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $1.8m (+5.3%), an average of +1.3% a year. Over the whole period it spent 110% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Wellspring Foundation for Education sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 85th percentile. Charities of a similar size with the same main cause include Alimenta LA Solidaridad Inc ($1.8m), US Institute of Diplomacy and Human Rights ($1.8m) and Israel Scholarship Education Foundation ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% of the total. Compensation of current officers, directors and key employees was $328k (18% of expenses). Other salaries and wages came to $970k. At year end it held assets of $794k against liabilities of $15k, net assets of $779k.

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.