Well-Spring Ret Community

Organization Overview

Well-Spring Ret Community, operating under the name Well-Spring A Life Plan Community, is located in Greensboro, NC. The organization was established in 1987. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 12/2021, Well-Spring A Life Plan Community employed 635 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Well-Spring A Life Plan Community 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 A Life Plan Community generated $37.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $33.6m during the year ending 12/2021. While expenses have increased by 5.1% 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.

Since 2014, Well-Spring A Life Plan Community has awarded 122 individual grants totaling $5,063,120. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE RETIREMENT LIVING SERVICES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

WELL-SPRING RETIREMENT COMMUNITY, INC ("WELL-SPRING"), A NORTH CAROLINA NONPROFIT CORPORATION, WAS ORGANIZED FOR THE PURPOSE OF OPERATING A CONTINUING CARE RETIREMENT COMMUNITY. WELL-SPRING IS GOVERNED BY A BOARD OF TRUSTEES COMPOSED OF CIVIC LEADERS, CURRENTLY CONSISTING OF 17 INDIVIDUALS, WHO SERVE WITHOUT COMPENSATION FOR STAGGERED THREE-YEAR TERMS. A MULTI-DENOMINATIONAL GROUP OF CHURCHES IN GREENSBORO, NORTH CAROLINA INITIALLY SPONSORED AND PROVIDED LEADERSHIP TO WELL-SPRING. REV. RUL. 72-124, 1972-1 C.B. 145, SETS OUT REQUIREMENTS THAT "HOME FOR THE AGED" MUST MEET TO QUALIFY FOR SECTION 501(C) 3 EXEMPTION. THE INTERNAL REVENUE SERVICE PROVIDED THE FOLLOWING REQUIREMENTS: (1) SATISFACTION OF THE NEED FOR HOUSING THROUGH THE PROVISION OF EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS AND SIMILAR NEEDS OF AGED.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Samet Corporation
Construction
$10,587,886
Cne Improvement
Construction
$1,280,855
Duke Energy
Utilities
$546,287
Laboratory Corporation Of America Holdin
Healthcare
$505,125
Us Foodservice Inc
Food
$1,213,631
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$507,727
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,543,898
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$2,051,625
Total Program Service Revenue$31,548,311
Investment income $0
Tax Exempt Bond Proceeds $2,046,974
Royalties $0
Net Rental Income $77,264
Net Gain/Loss on Asset Sales $2,073,545
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $37,797,719

Grants Awarded

Over the last fiscal year, Well-Spring Ret Community has awarded $995,800 in support to 15 organizations.

Grant RecipientAmount

WELL SPRING SERVICES INC

Org PageRecipient Profile

Greensboro, NC

PURPOSE: GENERAL SUPPORT

$500,000

ADULT CENTER FOR ENRICHMENT INC

Org PageRecipient Profile

Greensboro, NC

PURPOSE: GENERAL SUPPORT

$269,000

Greensboro, NC

PURPOSE: GENERAL SUPPORT

$82,000

AUTHORACARE COLLECTIVE

Org PageRecipient Profile

Greensboro, NC

PURPOSE: GENERAL SUPPORT

$42,500

UNIVERSITY OF NC CTR FOR PUBLIC MEDIA

PURPOSE: GENERAL SUPPORT

$14,800

DOWNTOWN GREENWAY

Org PageRecipient Profile

Greensboro, NC

PURPOSE: GENERAL SUPPORT

$12,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Well-Spring Ret Community has recieved totaling $16,150.

Awarding OrganizationAmount
Community Foundation Of Greater Greensboro Inc

Greensboro, NC

PURPOSE: GENERAL SUPPORT

$9,650
Community Foundation Of Greater Greensboro Inc

Greensboro, NC

PURPOSE: GENERAL SUPPORT

$5,500
The Seymour Levin Foundation Inc

Greensboro, NC

PURPOSE: PROGRAM SUPPORT

$1,000
View Grant Recipient Profile

Endowment Analysis

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