Welch Center Inc
- Assets
- $692.0k
- Revenue
- $370.8k
- Investments
- $0.0
- Employees
- 10
- Location
- Duluth, MN
- Founding
- 01/1983
- Data as of
- 12/2023
- EIN
- 41-0850223
Organization Overview
Welch Center Inc is located in Duluth, MN. The organization was established in 1983. According to its NTEE Classification (O20) the organization is classified as: Youth Centers & Clubs, under the broad grouping of Youth Development and related organizations. As of 12/2023, Welch Center Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Welch Center 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 12/2023, Welch Center Inc generated $370.8k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $420.6k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE YOUTH RECREATION AND EDUCATION PROGRAMS WITH THE INTENT TO HAVE POSITIVE EXPERIENCES AND MEET FRIENDS WITH THE INTENT OF DETERING BAD BEHAVIOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOCIAL DEVELOPMENT/REHABILITATION PROGRAM: PROVIDES OPPORTUNITIES FOR YOUTH TO FILL THEIR LEISURE TIME WITH POSITIVE EXPERIENCES, MEET FRIENDS WITH THE INTENT OF DETERING BAD BEHAVIOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russ Salgy Executive Di | Officer | 40 | $81,715 |
Pat Anscomb Board | Trustee | 1 | $0 |
Dustin Fawcett Board | Trustee | 1 | $0 |
Tim Folstad Board | Trustee | 1 | $0 |
Mike Hughes Treasurer | OfficerTrustee | 1 | $0 |
Sharon Hughes Board | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $15,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $294,753 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $309,753 |
| Total Program Service Revenue | $0 |
| Investment income | $891 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $59,912 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $370,774 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,794 |
| 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. | $81,715 |
| Compensation of current officers, directors, key employees. | $16,343 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $122,313 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,631 |
| Payroll taxes | $15,239 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,626 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $17,027 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,624 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,260 |
| Insurance | $10,549 |
| All other expenses | $0 |
| Total functional expenses | $420,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $206,140 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,579 |
| 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 | $13,630 |
| Net Land, buildings, and equipment | $465,607 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $691,956 |
| Accounts payable and accrued expenses | $3,586 |
| 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 | $334,110 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $337,696 |
| Net assets without donor restrictions | $354,260 |
| 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 | $691,956 |