Wellspring Foundation Of Southwest Virginia
- Assets
- $112.4m
- Revenue
- $112.9m
- Investments
- $0.0
- Employees
- 3
- Location
- Abingdon, VA
- Founding
- 11/2008
- Data as of
- 06/2022
- EIN
- 26-2870970
Organization Overview
Wellspring Foundation Of Southwest Virginia, operating under the name Wellspring Foundation Of Swva, is located in Abingdon, VA. The organization was established in 2008. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 06/2022, Wellspring Foundation Of Swva employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellspring Foundation Of Swva is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS ORGANIZED FOR THE PURPOSE OF RECEIVING, MAINTAINING AND ADMINISTERING ASSETS EXCLUSIVELY FOR CHARITABLE OR EDUCATIONAL PURPOSES, INCLUDING, BUT NOT LIMITED TO THE RECOGNIZABLE AND UNMET HEALTHCARE, WELLNESS, ECONOMIC AND EDUCATIONAL NEEDS OF THE COMMUNITIES WHICH THE CORPORATION SERVES, AND TO USE THE WHOLE OR ANY PART OF THE INCOME AND PRINCIPAL WITHIN THEREFROM FOR SUCH PURPOSES EITHER DIRECTLY OR BY CONTRIBUTION TO OTHER ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDING TO HEALTCARE ORGANIZATIONS THROUGHOUT SWVA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Mcmurray Executive Di | Officer | 40 | $135,000 |
Dr Haytham Adada Board Member | OfficerTrustee | 1 | $0 |
Dr Rachel Fowlkes Board Member | OfficerTrustee | 1 | $0 |
Marvin Gilliam Board Member | OfficerTrustee | 1 | $0 |
Dick Gail Vice Preside | OfficerTrustee | 1 | $0 |
William Hayter Chairman | OfficerTrustee | 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 | $112,441,723 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,441,723 |
| Total Program Service Revenue | $0 |
| Investment income | $471,468 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $112,913,191 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $135,000 |
| Compensation of current officers, directors, key employees. | $135,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,080 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,520 |
| Payroll taxes | $12,551 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,737 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $161,144 |
| Advertising and promotion | $19,361 |
| Office expenses | $44,961 |
| Information technology | $169 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,665 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $550 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $18,922 |
| All other expenses | $0 |
| Total functional expenses | $463,660 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $386,482 |
| 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 | $112,062,949 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $100 |
| Total assets | $112,449,531 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $112,449,531 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $112,449,531 |
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| Organization Name | Assets | Revenue |
|---|---|---|
Intrahealth International Inc Chapel Hill, NC | $25,698,138 | $95,131,742 |
Moses Cone Medical Services Inc Greensboro, NC | $66,450,127 | $85,429,043 |
Norton Properties Inc Louisville, KY | $374,509,086 | $60,233,665 |
West Virginia University Hospitals East Inc Martinsburg, WV | $676,755 | $63,515,006 |
Bricklayers And Allied Craftworkers International Health Fund Washington, DC | $54,125,903 | $67,880,287 |
Sheet Metal Workers National Health Fund Goodlettsville, TN | $59,855,607 | $61,652,205 |
Corvesta Inc Roanoke, VA | $82,180,783 | -$1,235,003 |
Inova Health System Foundation Fairfax, VA | $6,680,265,525 | $824,217,139 |
Carolina Medicorp Enterprises Llc Winston Salem, NC | $11,898,708 | $46,315,888 |
Childrens Health System Inc Norfolk, VA | $122,433,385 | $34,959,405 |
Fauquier Health Foundation Warrenton, VA | $249,193,841 | $9,571,718 |
Chesapeake Regional Medical Group Chesapeake, VA | $4,557,734 | $12,231,172 |