Wellfare Inc
- Assets
- $802.4k
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 1
- Location
- Brokolyn, NY
- Founding
- Data as of
- 12/2022
- EIN
- 85-2658123
Organization Overview
Wellfare Inc is located in Brokolyn, NY. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellfare 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 12/2022, Wellfare Inc generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 47.1% each year . All expenses for the organization totaled $2.6m during the year ending 12/2022. 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
TO TRANSFORM THE STATE OF GROCERY AND NUTRITION IN LOW-INCOME COMMUNITIES ACROSS THE COUNTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, WE DISTRIBUED 9,291 BETTER BOXES CARRYING $2,304,192 WORTH OF PREMIUM GROCERIES TO FAMILIES IN NEED. 2,637 INDIVIDUALS WERE SUBSCRIBED AND PICKING UP A BOX EVERY MONTH.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cole Riley Chair & CEO | OfficerTrustee | 80 | $68,000 |
Ryan Lewendon Treasurer | OfficerTrustee | 2 | $0 |
Josh Wand Secretary | OfficerTrustee | 2 | $0 |
Benjamin Chesler Director | 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 | $3,002,668 |
| Noncash contributions included in lines 1a–1f | $2,708,265 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,002,668 |
| Total Program Service Revenue | $1,131 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $3,003,799 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,304,193 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $68,000 |
| Compensation of current officers, directors, key employees. | $10,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,202 |
| 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 | $31,419 |
| Advertising and promotion | $20,593 |
| Office expenses | $0 |
| Information technology | $5,160 |
| Royalties | $0 |
| Occupancy | $93,537 |
| Travel | $4,204 |
| 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 | $4,355 |
| All other expenses | $0 |
| Total functional expenses | $2,573,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,077 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $734,265 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,050 |
| Total assets | $802,392 |
| Accounts payable and accrued expenses | $30,675 |
| 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 | $30,675 |
| Net assets without donor restrictions | $746,717 |
| Net assets with donor restrictions | $25,000 |
| 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 | $802,392 |