Well-Spring Services Inc
- Assets
- $7.1m
- Revenue
- $172.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Greensboro, NC
- Founding
- 08/2014
- Data as of
- 12/2021
- EIN
- 90-0885759
Organization Overview
Well-Spring Services Inc, operating under the name Well-Spring Group Home Care From Well-Spring Solutions, is located in Greensboro, NC. The organization was established in 2014. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Well-Spring Group Home Care From Well-Spring Solutions 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 12/2021, Well-Spring Group Home Care From Well-Spring Solutions generated $172.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (19.1%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WELL-SPRING SERVICES, INC. (THE "CORPORATION") WAS CREATED FOR THE PURPOSE OF SUPPORTING WELL-SPRING RETIREMENT COMMUNITY, INC. (THE "RETIREMENT COMMUNITY"), WHICH IS TAX-EXEMPT PURSUANT TO INTERNAL REVENUE CODE (THE "CODE") SECTIONS 501(C)(3) AND 509(A)(1).
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES SUPPORT SERVICES TO WELL-SPRING RETIREMENT COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sally Cone Immediate Past Chair | OfficerTrustee | 1 | $0 |
Kenneth Boggs Chair | OfficerTrustee | 1 | $0 |
Paul H Livingston Jr Secretary | OfficerTrustee | 1 | $0 |
K Alan Tutterow COO | Officer | 1 | $0 |
Stephen P Fleming President/ceo | Officer | 1 | $0 |
Don Gwynn Cfo/treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $500,000 |
| Government grants | $0 |
| 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 | $500,000 |
| Total Program Service Revenue | $0 |
| Investment income | $49,262 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $71 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $171,950 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $531,124 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,463,695 |
| 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 | $23,158 |
| Investments—publicly traded securities | $754,625 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,324,070 |
| Total assets | $7,096,672 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $7,096,672 |
| 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 | $7,096,672 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Well-Spring Services Inc has recieved totaling $516,450.
| Awarding Organization | Amount |
|---|---|
Well-Spring Ret Community Greensboro, NC PURPOSE: GENERAL SUPPORT | $500,000 |
Community Foundation Of Greater Greensboro Inc Greensboro, NC PURPOSE: GENERAL SUPPORT | $16,450 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cf Foundation Inc Atlanta, GA | $60,851,215 | $5,130,874 |
The David Belk Cannon Foundation Gastonia, NC | $0 | $4,765,855 |
World Poultry Foundation Inc Tucker, GA | $28,014,565 | $2,601,293 |
Seymour Family Foundation Irrev Charitable Trust Uad 12-21-15 Charlotte, NC | $3,421,952 | $6,290,943 |
Waterfall Foundation Inc Atlanta, GA | $17,781,141 | $467,284 |
Ted And Drama Russell Family Foundation Knoxville, TN | $97,704,141 | $6,828,732 |
Commonwealth Foundation V Richmond, VA | $38,532,929 | $6,620,642 |
Commonwealth Foundation Iv Richmond, VA | $38,533,029 | $6,621,693 |
R E B Foundation Richmond, VA | $74,287,615 | $7,129,947 |
Wythe-Bland Foundation Wytheville, VA | $49,336,372 | $2,855,357 |
National Heritage Foundation Inc Ashburn, VA | $4,189,529 | $1,236,211 |
Charity Assets Trust Cumming, GA | $3,483 | $1,605,049 |