Well House
- Assets
- $1.6m
- Revenue
- $554.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Grand Rapids, MI
- Founding
- 11/1988
- Data as of
- 12/2022
- EIN
- 38-2779457
Organization Overview
Well House is located in Grand Rapids, MI. The organization was established in 1988. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Well House employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Well House 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, Well House generated $554.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $691.9k 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
WELL HOUSE EXPANDS, PROVIDES, AND SAFEGUARDS LOW COST HOUSING OPTIONS FOR VULNERABLE POPULATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WELL HOUSE PROVIDES PERMANENT HOUSING FOR INDIVIDUALS AND FAMILIES WHO ARE EXPERIENCING CHRONIC HOMELESSNESS AND WHO ARE NO LONGER ABLE TO ACCESS HOUSING THROUGH TRADITIONAL MARKETS. BY PRIORITIZING PLACEMENTS FOR THOSE EXPERIENCING NUMEROUS BARRIERS, WE HELP OUR NEIGHBORS COME IN FROM THE STREETS, EMERGENCY SHELTERS AND OTHER UNHEALTHY CONDITIONS BRINGING THEM INTO SAFE, STABLE HOUSING IN A SUPPORTIVE COMMUNITY. ADDRESSING THE PRIMARY NEED FOR HOUSING ALLOWS TENANTS WITH ECONOMIC, HEALTH, BEHAVIORAL, AND SOCIAL PROBLEMS TO STABILIZE AND RECOVER FROM TRAUMAS THAT LED THEM TO HOMELESSNESS, AND TO REDEVELOP INDEPENDENT LIVING SKILLS. DURING 2022 WELL HOUSE PROVIDED HOUSING FOR APPROXIMATELY 60 RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Glover Executive Di | Officer | 40 | $82,319 |
Derek Devries Board Chair | OfficerTrustee | 1 | $0 |
Brent Geers Board Secret | OfficerTrustee | 1 | $0 |
Bryant Mitchell Board Treasu | OfficerTrustee | 1 | $0 |
Heather Cronkright Board Member | Trustee | 1 | $0 |
Jenifer Jackson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $23,429 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $317,772 |
| Noncash contributions included in lines 1a–1f | $6,174 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $341,201 |
| Total Program Service Revenue | $226,140 |
| Investment income | $53 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$12,834 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $554,560 |
| 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. | $92,629 |
| Compensation of current officers, directors, key employees. | $18,526 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $85,511 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,657 |
| Payroll taxes | $13,932 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,843 |
| Fees for services: Accounting | $33,403 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $56,250 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,023 |
| Advertising and promotion | $65,471 |
| Office expenses | $18,180 |
| Information technology | $6,553 |
| Royalties | $0 |
| Occupancy | $176,922 |
| Travel | $1,521 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,841 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $58,971 |
| Insurance | $1,697 |
| All other expenses | $22,510 |
| Total functional expenses | $691,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $355,369 |
| Savings and temporary cash investments | $1,053 |
| Pledges and grants receivable | $60,169 |
| Accounts receivable, net | $6,011 |
| 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 | $1,119,729 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,260 |
| Total assets | $1,567,591 |
| Accounts payable and accrued expenses | $24,849 |
| 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 | $540,296 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $42,439 |
| Total liabilities | $607,584 |
| Net assets without donor restrictions | $794,156 |
| Net assets with donor restrictions | $165,851 |
| 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 | $1,567,591 |