Wellspring House Inc

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 06/2022, Wellspring House Inc employed 47 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 06/2022, Wellspring House Inc generated $2.5m 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 $2.6m during the year ending 06/2022. While expenses have increased by 6.0% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

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.


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


MEDICLERK TRAINING PROGRAM: 450-HOUR JOB TRAINING COURSE PREPARING LOCAL ADULTS FOR ADMINISTRATIVE POSITIONS IN HEALTH CARE ENVIORNMENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Melissa A Dimond
President And Executive Director
$112,359
Liz Furber
Treasurer
$0
Patricia Fae Ho
Chairperson
$0
Faith Emerson
Clerk
$0
Rosemary Costello
Board Member
$0
Joelle Moroney
Board Member
$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$1,317,437
Noncash contributions included in lines 1a–1f $26,932
Total Revenue from Contributions, Gifts, Grants & Similar$1,317,437
Total Program Service Revenue$1,063,892
Investment income $41,254
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $26,592
Net Income from Fundraising Events $83,504
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,538,599

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Wellspring House Inc has recieved totaling $56,000.

Awarding OrganizationAmount
Linden Foundation Inc

Boston, MA

PURPOSE: GENERAL OPERATING/PROGRAM SUPPORT

$30,000
$25,000
The Naduse Foundation

Beverly, MA

PURPOSE: CHARITABLE

$1,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,912,462
Earnings-$211,397
Other Expense$503
Ending Balance$1,700,562

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