Wellspring Endowment Inc
- Assets
- $90.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Sugar Land, TX
- Founding
- 09/2014
- Data as of
- 12/2022
- EIN
- 46-0849564
Organization Overview
Wellspring Endowment Inc is located in Sugar Land, TX. The organization was established in 2014. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellspring Endowment 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 12/2022, Wellspring Endowment Inc generated $151.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 22.6% each year . All expenses for the organization totaled $161.3k during the year ending 12/2022. While expenses have increased by 16.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
PROVIDE EDUCATIONAL SERVICES FOR THE MUSLIM COMMUNITY IN HOUSTON ZAKAT DISTRIBUTION FOR NEEDY INDIVIDUALS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Bradford Chairmandirector | 0 | $90,000 | |
Mohammed Anwar Trusteesecretary | 0 | $0 | |
Hani Shaabi Trusteetreasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $148,632 |
| Total Program Service Revenue | $2,400 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $151,032 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $90,000 |
| Professional fees and other payments to independent contractors | $7,097 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $64,233 |
| Total expenses | $161,330 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $90,887 |
| Other assets | $0 |
| Total assets | $90,887 |
| Total liabilities | $1,000 |
| Net assets or fund balances | $89,887 |