Wells Mountain Initiative Inc
- Assets
- $2.1m
- Revenue
- $84.2k
- Investments
- $1.9m
- Employees
- 5
- Location
- Bristol, VT
- Founding
- 09/2006
- Data as of
- 12/2022
- 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 12/2022, 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 12/2022, Wells Mountain Initiative Inc generated $84.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (33.9%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. 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
2022
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 |
|---|---|---|---|
Robert Dill Director | Trustee | 1 | $0 |
Christopher Lutz Director | Trustee | 1 | $0 |
Kenneth Forester Director | Trustee | 1 | $0 |
Gwenael Apollon Director | Trustee | 1 | $0 |
Didier Blesin Director | Trustee | 1 | $0 |
Gail Nystrom Director | Trustee | 1 | $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 | $434,272 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $434,272 |
| Total Program Service Revenue | $0 |
| Investment income | $45,022 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$411,714 |
| Net Income from Fundraising Events | $16,602 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $84,182 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $539,924 |
| 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 | $286,661 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,384 |
| Payroll taxes | $22,126 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,454 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $28,414 |
| Fees for services: Other | $1,160 |
| Advertising and promotion | $1,817 |
| Office expenses | $13,614 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,525 |
| Travel | $24,052 |
| 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 | $1,342 |
| Total functional expenses | $1,008,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $198,758 |
| 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 | $1,945,152 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,143,910 |
| Accounts payable and accrued expenses | $2,214 |
| 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 | $2,214 |
| 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 | $2,141,696 |
| Total liabilities and net assets/fund balances | $2,143,910 |