Wellspring House Inc
- Assets
- $3.4m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 46
- Location
- Gloucester, MA
- Founding
- 01/1983
- Data as of
- 06/2023
- EIN
- 04-2735048
Organization Overview
Wellspring House Inc is located in Gloucester, MA. The organization was established in 1983. According to its NTEE Classification (P43) the organization is classified as: Family Violence Shelters, under the broad grouping of Human Services and related organizations. As of 06/2023, Wellspring House Inc employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellspring House Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Wellspring House Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $3.0m during the year ending 06/2023. While expenses have increased by 3.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WELLSPRING INSPIRES FAMILIES AND ADULTS ON THE NORTH SHORE TO ACHIEVE EMPLOYMENT AND FINANCIAL SECURITY THROUGH STABLE HOUSING, EDUCATION, JOB TRAINING AND CAREER READINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAMILY SHELTER AND HOMELESSNESS PREVENTION: A SHELTER PROGRAM AND RELATED CASE MANAGEMENT SERVICES FOR HOMELESS FAMILIES OR THOSE AT SERIOUS RISK FOR HOMELESSNESS. FAMILIES REQUIRE SHELTER AND/OR HOMELESSNESS PREVENTION ASSISTANCE BECAUSE MARKET RATE RENTS ARE BEYOND THEIR MEANS.
MEDICLERK TRAINING PROGRAM: 450-HOUR JOB TRAINING COURSE PREPARING LOCAL ADULTS FOR ADMINISTRATIVE POSITIONS IN HEALTH CARE ENVIORNMENTS.
AFFORDABLE HOUSING: PROVISION OF SUBSIDIZED HOUSING THROUGH A PARTNERSHIP WITH GLOUCESTER HOUSING AUTHORITY
COMMUNITY EDUCATION: OFFERING EDUCATION, JOB TRAINING AND CAREER READINESS OPPORTUNITIES TO HELP YOUTH AND ADULTS SECURE EMPLOYMENT WITH HIGHER WAGES TO ACHIEVE FINANCIAL SECURITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosemary Costello Board Member | Trustee | 2 | $0 |
Melissa A Dimond President And Executive Director | OfficerTrustee | 40 | $116,106 |
Karim Benali Board Member | Trustee | 2 | $0 |
Julia Frost Board Member | Trustee | 2 | $0 |
Patricia Fae Ho Chairperson | OfficerTrustee | 2 | $0 |
Michelle Langille Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,358,038 |
| Noncash contributions included in lines 1a–1f | $62,117 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,358,038 |
| Total Program Service Revenue | $1,443,983 |
| Investment income | $42,956 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $56,579 |
| Net Income from Fundraising Events | $73,866 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,987,734 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $87,501 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $118,046 |
| Compensation of current officers, directors, key employees. | $59,023 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,553,596 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $148,822 |
| Payroll taxes | $149,376 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,495 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,403 |
| Fees for services: Other | $106,184 |
| Advertising and promotion | $645 |
| Office expenses | $81,835 |
| Information technology | $29,550 |
| Royalties | $0 |
| Occupancy | $112,643 |
| Travel | $7,837 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,352 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $72,292 |
| Insurance | $41,896 |
| All other expenses | $326,094 |
| Total functional expenses | $2,952,397 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $175,739 |
| Savings and temporary cash investments | $223,716 |
| Pledges and grants receivable | $278,183 |
| Accounts receivable, net | $291,525 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,115 |
| Net Land, buildings, and equipment | $675,755 |
| Investments—publicly traded securities | $1,724,507 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,410,540 |
| Accounts payable and accrued expenses | $270,348 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $100,790 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $371,138 |
| Net assets without donor restrictions | $2,492,233 |
| Net assets with donor restrictions | $547,169 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,410,540 |