Civic Intelligence

Wellspring House Inc.

990 • Fiscal year 2020 • EIN 04-2735048

Jul 01, 2019 to Jun 30, 2020 • Filed on Sep 01, 2020

302 Essex AvenueGloucester, MA 01930-2351

(978) 281-3558

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

62nd percentile

0.20x

Higher debt load relative to assets than 62% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

67th percentile

0.28x

Higher debt load relative to revenue than 67% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

29th percentile

-4.1%

Higher net margin than 29% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

75th percentile

$116,756

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

56th percentile

8.7%

Faster asset growth than 56% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

39th percentile

-5.3%

Faster revenue growth than 39% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$3,260,333

Up $262,323 (+8.7%) from 2019

Net Assets

Down

$2,610,802

Down $65,259 (-2.4%) from 2019

Liabilities

Up

$649,531

Up $327,582 (+102%) from 2019

Revenue

Down

$2,327,157

Down $129,823 (-5.3%) from 2019

Expenses

Up

$2,423,306

Up $88,914 (+3.8%) from 2019

Net Income

Down

-$96,149

Down $218,737 (-178%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,625,848Liabilities 2011: $404,341Net Assets 2011: $1,221,5072011Assets 2012: $1,621,459Liabilities 2012: $347,824Net Assets 2012: $1,273,6352012Assets 2013: $1,684,703Liabilities 2013: $331,785Net Assets 2013: $1,352,9182013Assets 2014: $2,087,223Liabilities 2014: $312,772Net Assets 2014: $1,774,4512014Assets 2015: $2,585,660Liabilities 2015: $366,803Net Assets 2015: $2,218,8572015Assets 2016: $2,728,840Liabilities 2016: $403,104Net Assets 2016: $2,325,7362016Assets 2017: $2,902,876Liabilities 2017: $349,004Net Assets 2017: $2,553,8722017Assets 2018: $2,817,387Liabilities 2018: $342,790Net Assets 2018: $2,474,5972018Assets 2019: $2,998,010Liabilities 2019: $321,949Net Assets 2019: $2,676,0612019Assets 2020: $3,260,333Liabilities 2020: $649,531Net Assets 2020: $2,610,8022020Assets 2021: $3,606,829Liabilities 2021: $355,752Net Assets 2021: $3,251,0772021Assets 2022: $3,414,506Liabilities 2022: $483,176Net Assets 2022: $2,931,3302022Assets 2023: $3,410,540Liabilities 2023: $371,138Net Assets 2023: $3,039,4022023Assets 2024: $3,807,986Liabilities 2024: $639,797Net Assets 2024: $3,168,1892024Assets 2025: $3,668,590Liabilities 2025: $359,596Net Assets 2025: $3,308,9942025

Highlighted filing

2020

Assets$3,260,333
Liabilities$649,531
Net Assets$2,610,802

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $1,409,3052011Revenue 2012: $1,299,286Expenses 2012: $1,241,830Net Income 2012: $57,4562012Revenue 2013: $1,406,874Expenses 2013: $1,360,852Net Income 2013: $46,0222013Revenue 2014: $1,733,005Expenses 2014: $1,415,792Net Income 2014: $317,2132014Revenue 2015: $2,154,136Expenses 2015: $1,721,990Net Income 2015: $432,1462015Revenue 2016: $2,156,777Expenses 2016: $2,017,958Net Income 2016: $138,8192016Revenue 2017: $2,524,883Expenses 2017: $2,256,799Net Income 2017: $268,0842017Revenue 2018: $2,129,127Expenses 2018: $2,248,487Net Income 2018: -$119,3602018Revenue 2019: $2,456,980Expenses 2019: $2,334,392Net Income 2019: $122,5882019Revenue 2020: $2,327,157Expenses 2020: $2,423,306Net Income 2020: -$96,1492020Revenue 2021: $2,898,885Expenses 2021: $2,535,203Net Income 2021: $363,6822021Revenue 2022: $2,538,599Expenses 2022: $2,589,694Net Income 2022: -$51,0952022Revenue 2023: $2,987,734Expenses 2023: $2,952,397Net Income 2023: $35,3372023Revenue 2024: $3,515,654Expenses 2024: $3,503,039Net Income 2024: $12,6152024Revenue 2025: $4,816,564Expenses 2025: $4,393,086Net Income 2025: $423,4782025

Highlighted filing

2020

Revenue$2,327,157
Expenses$2,423,306
Net Income-$96,149
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Sep 1, 2020
Return Version
2019v5.1
Gross Receipts
$2,706,839
Mission and Program Overview

Mission

Wellspring inspires families and adults on the north shore to achieve employment and financial security through stable housing, education, job training and career readiness.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,359,780$1,479,555▲ $119,775
Land, Buildings, and Equipment, Net$754,084$819,759▲ $65,675
Savings and Temporary Cash Investments$558,282$645,007▲ $86,725
Pledges and Grants Receivable$174,700$156,410▼ $18,290
Accounts Receivable$123,527$106,858▼ $16,669
Prepaid Expenses and Deferred Charges$17,536$31,165▲ $13,629
Cash and Non-Interest-Bearing Accounts$10,101$21,579▲ $11,478
Total Assets$2,998,010$3,260,333▲ $262,323
Liabilities
Accounts Payable and Accrued Expenses$173,509$357,594▲ $184,085
Mortgage Notes Payable Secured by Investment Property$148,440$291,937▲ $143,497
Total Liabilities$321,949$649,531▲ $327,582
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,311,357$2,295,602▼ $15,755
Net Assets With Donor Restrictions$364,704$315,200▼ $49,504
Total Net Assets Fund Balance$2,676,061$2,610,802▼ $65,259
Total Liabilities and Net Assets / Fund Balance$2,998,010$3,260,333▲ $262,323

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$661,724$1,295,857$1,957,581
Equipment$52,621$51,045$103,666
Land$83,957-$83,957
Other Land Buildings$21,457$0$21,457

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$1,448,375$12,000▲ $83,458-$1,531,955
2018$1,319,924$66,597▲ $102,112$28,158$1,448,375
2017$1,141,813$132,777▲ $57,934-$1,319,924
2016$1,017,683$1,750▲ $131,801-$1,141,813
2015$1,038,362$2,850▼ $8,134-$1,017,683
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Melissa DimondPresident and Executive DirectorFT$114,437$2,319$116,756

Board Members and Trustees

NameTitle
Rosemary CostelloChairperson
Allison MuellerBoard Member
Amy KingmanBoard Member
Caroline HoveyBoard Member
Eliza CowanBoard Member
Faith EmersonBoard Member
Jennifer RobitailleBoard Member
Joelle MoroneyBoard Member
Julia FrostBoard Member
Larry OaksBoard Member
Liz FurberBoard Member
Nicole TwomeyBoard Member
Patricia Fae HoBoard Member
Tracey GouldBoard Member
Trina SmithBoard Member
Julie RiordanClerk
Michelle LangilleClerk
Jay BothwickTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,276,125
Program Service Revenue
$880,994
Investment Income
$61,335
Other Revenue
$108,703
All Other Contributions
$1,276,125
Change in Net Assets
$-96,149

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded360$40,605Nyse Fair Market Value (FMV)
Other Non Cash Contri Table124$33,164Retail Value
Other Non Cash Contri Table8$8,250Appraisal
Other Non Cash Contri Table13$7,523Retail Value
Clothing and Household Goods-$4,200-
Other Non Cash Contri Table5$4,187Retail Value
Total Noncash Contributions510$97,929-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,319,883
Revenue Not Reported on Financial Statements
$7,274
Revenue Not Reported on Form 990
$85,408
Total Revenue per Audited Statements
$2,405,291
Total Revenue per Form 990
$2,327,157
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,680,215
Other Expenses$713,996
Total Fundraising Expense$363,025
Grants and Similar Amounts Paid$29,095
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$975,516$80,598$229,928$1,286,042
All Other Expenses$261,442$1,712$33,193$296,347
Other Employee Benefits$91,808$23,292$28,368$143,468
Payroll Taxes$97,031$13,042$21,580$131,653
Current Officers, Directors, Trustees, and Key Employees$59,526$59,526$0$119,052
Occupancy$74,856$4,461$4,461$83,778
Depreciation Depletion$46,398$7,733$7,733$61,864
Office Expenses$33,721$4,314$19,140$57,175
Fees for Services Other$33,786$13,400$5,182$52,368
Insurance$25,410$6,509$4,235$36,154
Fees for Services Accounting$10,919$23,709$879$35,507
Information Technology$21,505$4,608$4,608$30,721
Grants to Domestic Individuals$29,095--$29,095
Travel$8,090$0$363$8,453
Interest$5,656$990$975$7,621
Fees for Service Investment Mgmnt Fees$0$7,274$0$7,274
Other Expenses$819$5,739$14$6,572
Advertising$1,107$0$0$1,107
Total Functional Expenses$1,797,394$262,887$363,025$2,423,306

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,470,550
Total Expenses per Form 990$2,423,306
Expenses per Audited Statements$2,416,032
Expenses Not Reported on Form 990$54,518
Expenses Not Reported on Financial Statements$7,274
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$124,721
Fundraising Direct Expenses$21,525
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
WOMEN'S LUNCHEON$112,030$112,030$11,374$100,656
Total Events$112,030$112,030$11,374$100,656
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Wellspring House Inc
EIN
04-2735048
Phone
9782813558
Address
302 ESSEX AVENUE, GLOUCESTER, MA 01930-2351

Signing Officer

Name
Melissa a Dimond
Title
Executive Director
Phone
9782813558
Signed
2020-09-01
Discuss with paid preparer
Yes

Organization Details

Formed
1981
Legal Domicile
Ma
Voting Board Members
19
Independent Board Members
18
Employees
49
Volunteers
352

Preparer

Firm
Bernard Johnson & Company Pc
Address
15 MAIN STREET, TOPSFIELD, MA 01983
Preparer
Julie A Couto CPA
Phone
9788872220
Supplemental Narrative

Additional Explanations

Pt VI, Line 15A

The executive compensation program is administered by the board of directors through its executive committee, in conjunction with the executive director. The executive committee is responsible for establishing and maintaining a competitive compensation program for the key executives of the organization. The committee meets as needed to review the performance of and to make compensation determinations for the executive director, based in part on an annual survey of performance completed by all members of the board of directors and in part on a review of competitive practices for comparable positions among similarly situated organizations. A performance evaluation of the executive director is prepared and conducted in the fall of each year and is intended to ensure that the feedback from the board is communicated and reflected in the executive director's base salary, incentive opportunity and objectives and goals for the then current fiscal year. The executive director is responsible for establishing base salaries, incentive opportunities and objectives and goals for the other key executives of the organization, within the overall budget approved by the board of directors and based in part upon a review of competitive practices for comparable positions among similarly situated organizations.

Pt VI, Line 19

UPON REQUEST

Pt VI, Line 11B

The board of directors authorized the finance committee to review and approve the form 990 prior to its filing. The form 990 was then authorized and signed by an officer of the organization.

Pt VI, Line 12C

The board of directors requires an annual declaration from all board members and senior management as to the existence and disclosure of any potential conflicts of interest. The board members sign a disclosure statement. Any potential conflicts are discussed by the dis-interested board members, while the party in potential conflict is required to leave the room. Board meeting minutes will document the discussion and decision making process. In the event of a potential conflict, procedures to obtain competitive bids and diligence on fair market value will be established.

Form 990, Part III, Line 4D

Mediclerk training program: 450-hour job training 207777. 0. 74701.

Form 990, Part IX, Line 24E

Participant expenses 292876. 259706. 0. 33170.

Form 990, Part IX, Line 24E

Staff training 3471. 1736. 1712. 23.

Financial Statement Notes

Other

The robert clark rogers education opportunity fund -

Pt V, Line 4

Earnings from this fund are used to provide program

Pt V, Line 4

Participants with eduation assistance

Pt V, Line 4

General board-designated endowment - the earnings on the

Pt V, Line 4

Fund are spent based on the needs of the organization

Pt V, Line 4

As determined by the board of directors.

Pt V, Line 4

The permanently restricted gilbert endowment -the earnings

Pt V, Line 4

On the fund are unrestricted and may be used to support

Pt V, Line 4

The operations of the organization

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IRS990/GainOrLossGrp/SecuritiesAmt024589
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IRS990/InsuranceGrp/TotalAmt036154
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IRS990/MissionDesc0WELLSPRING INSPIRES FAMILIES AND ADULTS ON THE NORTH SHORE TO ACHIEVE EMPLOYMENT AND FINANCIAL SECURITY THROUGH STABLE HOUSING, EDUCATION, JOB TRAINING AND CAREER READINESS.
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0291937
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IRS990/OfficeExpensesGrp/FundraisingAmt019140
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IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1CONTRACTED SERVICES
IRS990/ProgramServiceRevenueGrp/Desc2GOVERNMENT AGENCIES
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2665953
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IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt20
IRS990/ProgSrvcAccomActy2Grp/Desc0AFFORDABLE HOUSING: PROVISION OF SUBSIDIZED HOUSING THROUGH A PARTNERSHIP WITH GLOUCESTER HOUSING AUTHORITY
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0138534
IRS990/ProgSrvcAccomActy3Grp/Desc0COMMUNITY EDUCATION: OFFERING EDUCATION, JOB TRAINING AND CAREER READINESS OPPORTUNITIES TO HELP YOUTH AND ADULTS SECURE EMPLOYMENT WITH HIGHER WAGES TO ACHIEVE FINANCIAL SECURITY
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0617785
IRS990/ProgSrvcAccomActy3Grp/GrantAmt08098
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt01806
IRS990/ProgSrvcAccomActyOtherGrp/Desc0MEDICLERK TRAINING PROGRAM: 450-HOUR JOB TRAINING COURSE PREPARING LOCAL ADULTS FOR ADMINISTRATIVE POSITIONS IN HEALTH CARE ENVIORNMENTS.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0207777

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.67$0.36$3.31$4.82$4.39$0.42
2024Detailed filing. Detailed filing data is available for this year.$3.81$0.64$3.17$3.52$3.50$0.01
2023Detailed filing. Detailed filing data is available for this year.$3.41$0.37$3.04$2.99$2.95$0.04
2022Detailed filing. Detailed filing data is available for this year.$3.41$0.48$2.93$2.54$2.59$0.05
2021Detailed filing. Detailed filing data is available for this year.$3.61$0.36$3.25$2.90$2.54$0.36
2020Detailed filing. Detailed filing data is available for this year.$3.26$0.65$2.61$2.33$2.42$0.10
2019Detailed filing. Detailed filing data is available for this year.$3.00$0.32$2.68$2.46$2.33$0.12
2018Detailed filing. Detailed filing data is available for this year.$2.82$0.34$2.47$2.13$2.25$0.12
2017Detailed filing. Detailed filing data is available for this year.$2.90$0.35$2.55$2.52$2.26$0.27
2016Detailed filing. Detailed filing data is available for this year.$2.73$0.40$2.33$2.16$2.02$0.14
2015Detailed filing. Detailed filing data is available for this year.$2.59$0.37$2.22$2.15$1.72$0.43
2014Detailed filing. Detailed filing data is available for this year.$2.09$0.31$1.77$1.73$1.42$0.32
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$0.33$1.35$1.41$1.36$0.05
2012Summary only. Only limited summary data is available for this year.$1.62$0.35$1.27$1.30$1.24$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.63$0.40$1.22$1.41