Wellspring Foundation Of Southwest Virginia
- Assets
- $158.5m
- Revenue
- $27.1m
- Investments
- $149.5m
- Employees
- 3
- Location
- Abingdon, VA
- Founding
- 11/2008
- Data as of
- 06/2024
- 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 06/2024, 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.
Since 2023, Wellspring Foundation Of Swva has awarded 28 individual grants totaling $5,470,169. 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
2024
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 |
|---|---|---|---|
William Hayter Board Member | 2 | $0 | |
Donnie Meadows Board Member | 2 | $0 | |
Dr Haytham Adada Board Member | 2 | $0 | |
Dr Karen Elmore Board Member | 2 | $0 | |
Marvin Gilliam Chair | 2 | $0 | |
Karl Kindig Board Member | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Corporate Image | 6/29/23 | $61,975 |
Bruce Behringer | 6/29/23 | $55,499 |
Ubs Financial Services | 6/29/23 | $355,222 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $23,591,679 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,049,383 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $508,891 |
| Capital Gain Net Income | $508,891 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $27,149,953 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $591,534 |
| Other employee salaries and wages | $56,021 |
| Pension plans, employee benefits | $159,072 |
| Interest | $0 |
| Taxes | $67,413 |
| Depreciation | $0 |
| Occupancy | $41,473 |
| Travel, conferences, and meetings | $8,146 |
| Printing and publications | $0 |
| Other expenses | $111,032 |
| Total operating and administrative expenses | $1,109,640 |
| Contributions, gifts, grants paid | $4,885,853 |
| Total expenses and disbursements | $5,995,493 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $511,404 |
| Savings and temporary cash investments | $8,492,788 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,859,932 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,313 |
| Total assets | $158,481,087 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Wellspring Foundation Of Southwest Virginia has awarded $4,885,853 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
APPALACHIAN HIGHLANDS COMM DENTAL PURPOSE: COMMUNITY SUPPORT | $213,699 |
FAIRVIEW HOUSING MANAGEMENT CORP PURPOSE: COMMUNITY SUPPORT | $200,000 |
COMMUNITIES IN SCHOOLS OF APP HIGH PURPOSE: COMMUNITY SUPPORT | $227,380 |
UNITED WAY OF SW VA PURPOSE: COMMUNITY SUPPORT | $122,040 |
MOUNT ROGERS COMMUNITY SERVICES PURPOSE: COMMUNITY SUPPORT | $16,769 |
RUSSELL COUNTY VA PURPOSE: COMMUNITY SUPPORT | $20,146 |