Wellspring Philantropic Fund Inc
- Assets
- $180.0m
- Revenue
- $375.0m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 11/2000
- Data as of
- 11/2023
- EIN
- 22-3692921
Organization Overview
Wellspring Philantropic Fund Inc is located in New York, NY. The organization was established in 2000. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellspring Philantropic Fund 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 11/2023, Wellspring Philantropic Fund Inc generated $375.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $319.8m during the year ending 11/2023. While expenses have increased by 6.5% 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.
Since 2017, Wellspring Philantropic Fund Inc has awarded 6,393 individual grants totaling $1,939,320,589. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAPACITY BUILDING
GRANTEE COLLABORATION
STRATEGIC COMMUNICATIONS
REGIONAL EDUCATION LEARNING INITIATIVE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bltn Holdings Llc Member | 1 | $0 | |
C Fred Taylor Trustee | 1 | $0 | |
John R Taylor President/trustee | 40 | $806,757 | |
W Myles Taylor Trustee | 1 | $0 | |
Jennifer Reynoso Sec./gc Thru Feb 2023 Then Trustee | 15 | $117,907 | |
Raymond Eng Treasurer/dir. Of Finance | 40 | $284,802 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rand Construction Corporation | 11/29/23 | $5,904,381 |
Civlegacy Foundation | 11/29/23 | $1,121,000 |
Constructomics Llc | 11/29/23 | $734,187 |
The Switzer Group Incorporated | 11/29/23 | $639,502 |
Cbli Centre | 11/29/23 | $540,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $366,225,000 |
| Interest on Savings | $8,438,403 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $295,019 |
| Total Revenue | $374,958,422 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,607,170 |
| Other employee salaries and wages | $17,661,233 |
| Pension plans, employee benefits | $6,940,858 |
| Interest | $0 |
| Taxes | $120,000 |
| Depreciation | $663,990 |
| Occupancy | $3,243,597 |
| Travel, conferences, and meetings | $1,595,292 |
| Printing and publications | $0 |
| Other expenses | $2,884,992 |
| Total operating and administrative expenses | $43,771,880 |
| Contributions, gifts, grants paid | $276,051,676 |
| Total expenses and disbursements | $319,823,556 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $105,888,800 |
| Savings and temporary cash investments | $9,974,492 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $694,118 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $11,186,740 |
| Other assets | $52,265,339 |
| Total assets | $180,009,489 |
| Accounts payable and accrued expenses | $1,506,056 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $52,399,531 |
| Total liabilities | $53,905,587 |
Grants Awarded
Over the last fiscal year, Wellspring Philantropic Fund Inc has awarded $276,012,426 in support to 997 organizations.
| Grant Recipient | Amount |
|---|---|
9TO5 NATIONAL ASSOCIATION OF WORKING WOMEN INC PURPOSE: LEADERSHIP REIMAGINED | $100,000 |
A NEW WAY OF LIFE REENTRY PROJECT PURPOSE: GENERAL OPERATING SUPPORT | $404,000 |
A BETTER BALANCE PURPOSE: GENERAL OPERATING SUPPORT | $250,000 |
ACCELERATE CHANGE INC PURPOSE: GEN Z FOR CIVIC ENGAGEMENT | $200,000 |
ACCESS NOW PURPOSE: GENERAL OPERATING SUPPORT | $250,000 |
ACENTO ACCION LOCAL PURPOSE: GENERAL OPERATING SUPPORT | $50,000 |