Wellspring Of Life
- Assets
- $108.2k
- Revenue
- $155.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Black Mountain, NC
- Founding
- 01/2013
- Data as of
- 12/2022
- EIN
- 27-0540298
Organization Overview
Wellspring Of Life is located in Black Mountain, NC. The organization was established in 2013. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, Wellspring Of Life employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellspring Of Life 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, Wellspring Of Life generated $155.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $131.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 7 years. 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
CHARITABLE AND RELIGIOUS PURPOSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPAGATING THE GOSPEL OF JESUS CHRIST AND PROMOTING PEACE ANDRECONCILIATION OF THE KOREAN PENINSULA AND THE PACIFIC RIM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roger Smith Board Member | Trustee | 1 | $0 |
John Kim Board Member | Trustee | 1 | $0 |
James Linton Executive Director | OfficerTrustee | 20 | $0 |
Jason Brock Treasurer | OfficerTrustee | 2 | $0 |
Larry Wilson Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $163,693 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $163,693 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | -$7,767 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $155,926 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,988 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,901 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,260 |
| Advertising and promotion | $0 |
| Office expenses | $6,498 |
| Information technology | $1,520 |
| Royalties | $0 |
| Occupancy | $18,704 |
| Travel | $3,136 |
| 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 | $4,129 |
| All other expenses | $14,581 |
| Total functional expenses | $131,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,361 |
| 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 | $93,146 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,717 |
| Total assets | $108,224 |
| Accounts payable and accrued expenses | $9,920 |
| 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 | $5,700 |
| Other liabilities | $12,325 |
| Total liabilities | $27,945 |
| Net assets without donor restrictions | $80,279 |
| 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 | $108,224 |