Wellspring Cultural And Educational Foundation Inc
- Assets
- $1.3m
- Revenue
- $154.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Milford, CT
- Founding
- 11/2002
- Data as of
- 06/2021
- EIN
- 06-1610852
Organization Overview
Wellspring Cultural And Educational Foundation Inc is located in Milford, CT. The organization was established in 2002. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellspring Cultural And Educational Foundation 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 06/2021, Wellspring Cultural And Educational Foundation Inc generated $154.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (35.8%) each year. All expenses for the organization totaled $97.3k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (40.4%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
RUN PROGRAMS TO PROMOTE UNDERSTANDING OF TURKISH CULTURE AND TURKISH LANGUAGE IN THE USAPROGRAMSLANGUAGE LESSONSCREENING FILMORGANIZING
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ESTABLISH, MAINTAIN AND NOURISH EDUCATIONAL AND CULTURAL PROGRAMS FOR THE BENEFIT OF TURKISH AMERICANS AND PERSONS OF TURKISH-AMERICAN DESCENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Suat Yigit Executive Director | Officer | 40 | $60,800 |
Neslihan Bolat Member | Trustee | 2 | $0 |
Beyza Sariaydin Member | Trustee | 2 | $0 |
Omer F Kizilcik President | Trustee | 8 | $0 |
Mehmet Hasankahyaoglu Treasurer | Trustee | 2 | $0 |
Ismail Yilmaz Secretary | 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 | $155,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $155,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$200 |
| 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 | $154,800 |
| 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. | $60,800 |
| Compensation of current officers, directors, key employees. | $12,160 |
| 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 | $36,473 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $97,273 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $160,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,165,027 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,079 |
| Total assets | $1,326,106 |
| 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 | $721,298 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $721,298 |
| Net assets without donor restrictions | $604,808 |
| 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 | $1,326,106 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Wellspring Cultural And Educational Foundation Inc has recieved totaling $26,224.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $17,345 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $8,731 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $98 |
Pfizer Foundation Inc New York, NY PURPOSE: ANNUAL GIVING CAMPAIGN | $50 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jumoke Academy Inc Hartford, CT | $8,246,246 | $11,046,484 |
Yeshiva Tiferes Yisroel Brooklyn, NY | $12,406,666 | $10,084,609 |
Metropolitan Montessori School New York, NY | $29,899,366 | $8,129,408 |
The Bement School Inc Deerfield, MA | $22,940,290 | $8,963,162 |
University Urology Inc Buffalo, NY | $263,782 | $9,014,963 |
The New Life Child Development Center Inc Brooklyn, NY | $2,502,824 | $9,022,777 |
Solomon Schechter Day School Of Nassau County Williston Park, NY | $2,812,107 | $7,961,287 |
Japanese Educational Institute Of New York New Rochelle, NY | $17,178,023 | $7,604,311 |
Shining Hope For Communities Inc New York, NY | $42,723,081 | $30,462,819 |
Hebrew Educational Society Of Brooklyn Brooklyn, NY | $10,100,072 | $10,549,475 |
Geneva School Of Manhattan New York, NY | $12,693,801 | $8,025,908 |
Lulac Head Start Inc New Haven, CT | $9,754,249 | $9,404,982 |