Wellspring Ministries Of Alaska Inc
- Assets
- $5.4m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 22
- Location
- Anchorage, AK
- Founding
- 01/2001
- Data as of
- 06/2023
- EIN
- 92-0168999
Organization Overview
Wellspring Ministries Of Alaska Inc is located in Anchorage, AK. The organization was established in 2001. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 06/2023, Wellspring Ministries Of Alaska Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellspring Ministries Of Alaska 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 06/2023, Wellspring Ministries Of Alaska Inc generated $1.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $1.0m during the year ending 06/2023. While expenses have increased by 2.3% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
MINISTRY OF SPIRITUAL HEALING, PERSONAL SALVATION, TEACHING, & ENCOURAGEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEACHING OF THE GOSPEL OF JESUS UNTO SALVATION, AND RECOGNITION OF THOSE THINGS WHICH SEPARATE FROM CHRIST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Hadley Director/sr | Trustee | 40 | $75,500 |
Arthur Mathias President/tr | OfficerTrustee | 20 | $50,000 |
Monica Mosier Director/sec | OfficerTrustee | 40 | $43,200 |
Janice Coulter Director | Trustee | 20 | $7,800 |
Patricia Mathias Vice Preside | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $569,713 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $569,713 |
| Total Program Service Revenue | $201,104 |
| Investment income | $794 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $266,625 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,038,236 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $81,020 |
| Grants and other assistance to Foreign Orgs/Individuals | $127,795 |
| 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 | $270,726 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,191 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $44,437 |
| Advertising and promotion | $34,168 |
| Office expenses | $59,223 |
| Information technology | $4,799 |
| 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 | $72,425 |
| Insurance | $20,103 |
| All other expenses | $8,337 |
| Total functional expenses | $1,034,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,105,073 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,613 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $22,392 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,262,912 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $23,216 |
| Other assets | $0 |
| Total assets | $5,422,206 |
| Accounts payable and accrued expenses | $7,879 |
| 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 | $2,089,489 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,097,368 |
| Net assets without donor restrictions | $3,324,838 |
| 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 | $5,422,206 |