Wells Mountain Initiative Inc
- Assets
- $3.1m
- Revenue
- $541.1k
- Investments
- $2.6m
- Employees
- 5
- Location
- Bristol, VT
- Founding
- 09/2006
- Data as of
- 12/2021
- EIN
- 20-3823604
Organization Overview
Wells Mountain Initiative Inc is located in Bristol, VT. The organization was established in 2006. According to its NTEE Classification (Q99) the organization is classified as: International, Foreign Affairs & National Security N.E.C., under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2021, Wells Mountain Initiative Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wells Mountain Initiative 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 12/2021, Wells Mountain Initiative Inc generated $541.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.9% each year . All expenses for the organization totaled $849.5k during the year ending 12/2021. While expenses have increased by 20.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE SOCIAL CHANGE THROUGH EDUCATION AND COMMUNITY BUILDING BY PROVIDING BRIGHT YOUNG PEOPLE IN THE DEVELOPING WORLD WITH STUDENT SCHOLARSHIPS AND SKILLS TRAINING, BUILDING A NETWORK OF GRASSROOTS LEADERS WHO ARE CATALYZING COMMUNITY TRANSFORMATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED PROGRAMMING AND FUNDING FOR YOUNG PEOPLE AND INITIATIVES IN THE DEVELOPING WORLD TO SUPPORT POST-SECONDARY EDUCATION, LEADERSHIP DEVELOPMENT AND COMMUNITY DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jordyn Wells Director/executive Director | Officer | 40 | $96,163 |
Rick Kushel Director/treasurer | Officer | 1 | $0 |
Mary Clark Romney Director/secretary | Officer | 1 | $0 |
Thomas M Wells Director/chairman | Officer | 4 | $0 |
Robert Dill Director | Trustee | 1 | $0 |
Christopher Lutz Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $37,302 |
| All other contributions, gifts, grants, and similar amounts not included above | $533,761 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $571,063 |
| Total Program Service Revenue | $0 |
| Investment income | $52,021 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$103,526 |
| Net Income from Fundraising Events | $21,529 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $541,087 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $100 |
| Grants and other assistance to Foreign Orgs/Individuals | $453,863 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $216,959 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,850 |
| Payroll taxes | $16,607 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,252 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,007 |
| Fees for services: Other | $1,410 |
| Advertising and promotion | $2,037 |
| Office expenses | $31,963 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,650 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $3,057 |
| Total functional expenses | $849,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $457,430 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,609,559 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,066,989 |
| Accounts payable and accrued expenses | $1,410 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,410 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $3,065,579 |
| Total liabilities and net assets/fund balances | $3,066,989 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wells Mountain Initiative Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Palmedo Family Foundation Inc Ketchum, ID PURPOSE: GENERAL | $10,000 |
Endowment Analysis
| Beg. Balance | $1,290,691 |
| Earnings | $1,424,480 |
| Admin Expense | $31,872 |
| Net Contributions | $3,132 |
| Ending Balance | $2,686,431 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ibm International Foundation Armonk, NY | $379,735,895 | $37,675,246 |
International Brotherhood Of Electl Wkrs 43 & Electrical Contract Wlfr Syracuse, NY | $54,107,460 | $23,322,409 |
American Friends Of Hebron Yeshiva Jerusalem Inc New York, NY | $25,067,213 | $12,744,013 |
American Friends Of Nishmat New York, NY | $924,715 | $3,909,273 |
Worldscale Assoc Nyc Inc New York, NY | $4,101,775 | $1,283,281 |
Aleph Society Inc New York, NY | $1,195,690 | $2,418,228 |
Latin American And Caribbean Network For Democracy Inc Wayland, MA | $106,495 | $1,142,210 |
American Friends Of Sucath David Inc Brooklyn, NY | $50,628 | $601,691 |
American Friends Of Bnei Akiva Yeshivas In Israel Inc New York, NY | $232,193 | $1,234,954 |
International Grooving & Grinding Assoc Inc West Coxsackie, NY | $2,039,990 | $893,129 |
Wells Mountain Initiative Inc Bristol, VT | $3,066,989 | $541,087 |
International Association Of Special Investigation Units Inc Albany, NY | $1,780,499 | $772,689 |