Wellspring House Inc
- Assets
- $3.4m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 47
- Location
- Gloucester, MA
- Founding
- 01/1983
- Data as of
- 06/2022
- EIN
- 04-2735048
Organization Overview
Wellspring House Inc is located in Gloucester, MA. The organization was established in 1983. According to its NTEE Classification (P43) the organization is classified as: Family Violence Shelters, under the broad grouping of Human Services and related organizations. As of 06/2022, Wellspring House Inc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellspring House 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 06/2022, Wellspring House Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $2.6m during the year ending 06/2022. While expenses have increased by 6.0% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WELLSPRING INSPIRES FAMILIES AND ADULTS ON THE NORTH SHORE TO ACHIEVE EMPLOYMENT AND FINANCIAL SECURITY THROUGH STABLE HOUSING, EDUCATION, JOB TRAINING AND CAREER READINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAMILY SHELTER AND HOMELESSNESS PREVENTION: A SHELTER PROGRAM AND RELATED CASE MANAGEMENT SERVICES FOR HOMELESS FAMILIES OR THOSE AT SERIOUS RISK FOR HOMELESSNESS. FAMILIES REQUIRE SHELTER AND/OR HOMELESSNESS PREVENTION ASSISTANCE BECAUSE MARKET RATE RENTS ARE BEYOND THEIR MEANS.
AFFORDABLE HOUSING: PROVISION OF SUBSIDIZED HOUSING THROUGH A PARTNERSHIP WITH GLOUCESTER HOUSING AUTHORITY
COMMUNITY EDUCATION: OFFERING EDUCATION, JOB TRAINING AND CAREER READINESS OPPORTUNITIES TO HELP YOUTH AND ADULTS SECURE EMPLOYMENT WITH HIGHER WAGES TO ACHIEVE FINANCIAL SECURITY
MEDICLERK TRAINING PROGRAM: 450-HOUR JOB TRAINING COURSE PREPARING LOCAL ADULTS FOR ADMINISTRATIVE POSITIONS IN HEALTH CARE ENVIORNMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa A Dimond President And Executive Director | OfficerTrustee | 40 | $112,359 |
Faith Emerson Clerk | OfficerTrustee | 2 | $0 |
Liz Furber Treasurer | OfficerTrustee | 2 | $0 |
Patricia Fae Ho Chairperson | OfficerTrustee | 2 | $0 |
Amy Kingman Board Member | Trustee | 2 | $0 |
Larry Oaks Board Member | Trustee | 2 | $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 | $1,317,437 |
| Noncash contributions included in lines 1a–1f | $26,932 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,317,437 |
| Total Program Service Revenue | $1,063,892 |
| Investment income | $41,254 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $26,592 |
| Net Income from Fundraising Events | $83,504 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,538,599 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $36,212 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $114,300 |
| Compensation of current officers, directors, key employees. | $57,150 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,405,267 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $156,233 |
| Payroll taxes | $141,266 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,108 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,745 |
| Fees for services: Other | $105,167 |
| Advertising and promotion | $2,298 |
| Office expenses | $52,473 |
| Information technology | $31,810 |
| Royalties | $0 |
| Occupancy | $106,225 |
| Travel | $3,325 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $10,496 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $68,005 |
| Insurance | $41,911 |
| All other expenses | $220,321 |
| Total functional expenses | $2,589,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,697 |
| Savings and temporary cash investments | $329,927 |
| Pledges and grants receivable | $401,631 |
| Accounts receivable, net | $246,665 |
| 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 | $37,682 |
| Net Land, buildings, and equipment | $723,801 |
| Investments—publicly traded securities | $1,594,103 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,414,506 |
| Accounts payable and accrued expenses | $214,250 |
| 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 | $118,926 |
| Unsecured mortgages and notes payable | $150,000 |
| Other liabilities | $0 |
| Total liabilities | $483,176 |
| Net assets without donor restrictions | $2,383,874 |
| Net assets with donor restrictions | $547,456 |
| 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 | $3,414,506 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Wellspring House Inc has recieved totaling $56,000.
| Awarding Organization | Amount |
|---|---|
Linden Foundation Inc Boston, MA PURPOSE: GENERAL OPERATING/PROGRAM SUPPORT | $30,000 |
Institution For Savings In Newbrypt & Its Vcnty Chrtble Foundation Inc Newburyport, MA PURPOSE: EXEMPT PURPOSE | $25,000 |
The Naduse Foundation Beverly, MA PURPOSE: CHARITABLE | $1,000 |
Endowment Analysis
| Beg. Balance | $1,912,462 |
| Earnings | -$211,397 |
| Other Expense | $503 |
| Ending Balance | $1,700,562 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Providence House Inc Brooklyn, NY | $11,799,175 | $12,655,263 |
New Hampshire Coalition Against Domestic & Sexual Violence Concord, NH | $3,363,017 | $10,638,008 |
Center For The Elimination Of Violence In The Family In The Family Inc New York, NY | $9,460,119 | $8,697,198 |
The Safe Center Li Inc Bethpage, NY | $2,855,738 | $7,306,002 |
Center For Safety & Change Inc New City, NY | $3,967,929 | $6,915,695 |
New York Asian Womens Center Inc New York, NY | $8,928,323 | $11,674,247 |
Violence Intervention Program New York, NY | $4,083,768 | $6,193,892 |
Retreat Inc East Hampton, NY | $4,862,145 | $6,323,052 |
Willow Domestic Violence Center Of Greater Rochester Inc Rochester, NY | $6,348,046 | $4,729,045 |
Y W C A Of The Mohawk Valley Utica, NY | $2,053,721 | $3,990,438 |
Independence House Inc Hyannis, MA | $3,439,495 | $4,660,983 |
New Bedford Womens Center Inc New Bedford, MA | $2,527,443 | $3,733,458 |