Civic Intelligence

Wellspring Cultural and Educational Foundation Inc.

990 • Fiscal year 2020 • EIN 06-1610852

Jul 01, 2019 to Jun 30, 2020 • Filed on May 17, 2021

Organization ProfileWWW.PUTNAMSCIENCE.ORG
9 Research DriveMilford, CT 06460

(203) 934-4900

Siviq Scores

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

Liabilities / Assets

84th percentile

0.58x

Higher debt load relative to assets than 84% of similar nonprofits.

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

Liabilities / Revenue

95th percentile

4.61x

Higher debt load relative to revenue than 95% of similar nonprofits.

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

Net Margin

76th percentile

23%

Higher net margin than 76% of similar nonprofits.

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

Top Officer Pay

50th percentile

$60,800

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 33.9% of source-year revenue.

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

Asset Growth

34th percentile

0.5%

Faster asset growth than 34% of similar nonprofits.

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

Revenue Growth

72nd percentile

17%

Faster revenue growth than 72% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$1,425,571

Up $7,621 (+0.5%) from 2019

Net Assets

Up

$599,265

Up $12,723 (+2.2%) from 2019

Liabilities

Down

$826,306

Down $5,102 (-0.6%) from 2019

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin76th percentile

Revenue

Up

$179,124

Up $25,497 (+17%) from 2019

Expenses

Down

$137,925

Down $3,915 (-2.8%) from 2019

Net Income

Up

$41,199

Up $29,412 (+250%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth34th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $2,876,620Liabilities 2010: $1,217,185Net Assets 2010: $1,659,4352010Assets 2011: $3,523,076Liabilities 2011: $1,372,146Net Assets 2011: $2,150,9302011Assets 2012: $3,849,186Liabilities 2012: $1,028,422Net Assets 2012: $2,820,7642012Assets 2013: $3,908,439Liabilities 2013: $1,157,207Net Assets 2013: $2,751,2322013Assets 2014: $3,154,682Liabilities 2014: $1,324,256Net Assets 2014: $1,830,4262014Assets 2015: $3,005,146Liabilities 2015: $1,202,419Net Assets 2015: $1,802,7272015Assets 2016: $1,098,430Liabilities 2016: $252Net Assets 2016: $1,098,1782016Assets 2017: $1,652,208Liabilities 2017: $665,800Net Assets 2017: $986,4082017Assets 2018: $1,460,975Liabilities 2018: $854,718Net Assets 2018: $606,2572018Assets 2019: $1,417,950Liabilities 2019: $831,408Net Assets 2019: $586,5422019Assets 2020: $1,425,571Liabilities 2020: $826,306Net Assets 2020: $599,2652020Assets 2021: $1,326,106Liabilities 2021: $721,298Net Assets 2021: $604,8082021Assets 2022: $1,407,199Liabilities 2022: $985,413Net Assets 2022: $421,7862022Assets 2023: $1,383,073Liabilities 2023: $952,463Net Assets 2023: $430,6102023Assets 2024: $1,345,431Liabilities 2024: $892,474Net Assets 2024: $452,9572024

Highlighted filing

2020

Assets$1,425,571
Liabilities$826,306
Net Assets$599,265
Open 2020 Filing

Operations Trend

Revenue Growth72nd percentile

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

$4.0M$2.0M$0-$2.0MExpenses 2010: $2,401,5822010Expenses 2011: $3,013,1742011Expenses 2012: $3,254,0112012Revenue 2013: $2,851,339Expenses 2013: $2,920,871Net Income 2013: -$69,5322013Revenue 2014: $1,560,286Expenses 2014: $2,482,817Net Income 2014: -$922,5312014Revenue 2015: $2,201,803Expenses 2015: $2,179,133Net Income 2015: $22,6702015Revenue 2016: $454,948Expenses 2016: $1,208,624Net Income 2016: -$753,6762016Revenue 2017: $201,171Expenses 2017: $220,176Net Income 2017: -$19,0052017Revenue 2018: $121,880Expenses 2018: $147,463Net Income 2018: -$25,5832018Revenue 2019: $153,627Expenses 2019: $141,840Net Income 2019: $11,7872019Revenue 2020: $179,124Expenses 2020: $137,925Net Income 2020: $41,1992020Revenue 2021: $154,800Expenses 2021: $97,273Net Income 2021: $57,5272021Revenue 2022: $254,901Expenses 2022: $127,934Net Income 2022: $126,9672022Revenue 2023: $341,900Expenses 2023: $325,858Net Income 2023: $16,0422023Revenue 2024: $288,977Expenses 2024: $266,630Net Income 2024: $22,3472024

Highlighted filing

2020

Revenue$179,124
Expenses$137,925
Net Income$41,199
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 17, 2021
Return Version
2019v5.0
Gross Receipts
$187,724
Mission and Program Overview

Mission

Science, mathematics, and technology, it is a small structured school delivering a rigorous, innovative educational program to boys

Run programs to promote understanding of turkish culture and turkish language in the usaprogramslanguage lessonscreening filmorganizing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,165,027$1,165,027→ $0
Other Notes and Loans Receivable, Net$160,000$160,000→ $0
Accounts Receivable$58,622$58,622→ $0
Cash and Non-Interest-Bearing Accounts$3,322$40,843▲ $37,521
Pledges and Grants Receivable$29,900--
Total Assets$1,417,950$1,425,571▲ $7,621
Other Assets Total$1,079$1,079→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$831,408$826,306▼ $5,102
Total Liabilities$831,408$826,306▼ $5,102
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$586,542$599,265▲ $12,723
Total Net Assets Fund Balance$586,542$599,265▲ $12,723
Total Liabilities and Net Assets / Fund Balance$1,417,950$1,425,571▲ $7,621

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$271,425$30,030$301,455
Other Land Buildings$21,510-$21,510
Equipment$10,215-$10,215
Buildings$589,714$39,202$1,079
Land$272,163--
Other Assets Org$1,079--
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Enes YapiciExecutive DirectorFT$60,800$60,800

Board Members and Trustees

NameTitle
Omer F KizilcikPresident
Ismail YilmazVice President
Beyza SariaydinMember
Neslihan BolatMember
Suleyman ErMember
Mehmet HasankahyaogluSecretary
Ahmet MarasTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$178,324
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$800
All Other Contributions
$178,324
Change in Net Assets
$41,199
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$68,045
Other Expenses$56,765
Grants and Similar Amounts Paid$13,115
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$44,713$11,178-$55,891
Interest$29,022$7,255-$36,277
Grants to Domestic Orgs$13,115--$13,115
Payroll Taxes$9,723$2,431-$12,154
Occupancy$6,348$1,587-$7,935
Insurance$4,184$1,019-$5,203
Other Expenses$2,584$646-$3,230
Conferences and Meetings$2,563--$2,563
Advertising$892$223-$1,115
Total Functional Expenses$113,514$24,401$0$137,925
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
Backup withholding compliance
No
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
No
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

Governance Explanations

Part VI Line 11B

“Organization's process to review form 990 draft of return is sent to”

Part VI Line 11B

“The accountant who reviews it with the president of wcc.”

Part VI Line 19

“Governing documents disclosure explanation upon request.”

Filing and Contact Details

Filer

Filer Name
Wellspring Cultural&educational Foundation Inc
EIN
06-1610852
In Care Of
% OMER F KIZILCIK
Phone
2039344900
Address
9 RESEARCH DRIVE, MILFORD, CT 06460

Signing Officer

Name
Omer F Kizilcik
Title
President
Phone
2039344900
Signed
2021-05-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Omer F Kizilcik
Formed
2001
Legal Domicile
Ct
Voting Board Members
7
Independent Board Members
7
Employees
1
Volunteers
32

Preparer

Firm
Confidence Accounting Services LLC
Address
345 CLIFTON AVE, CLIFTON, NJ 07011-2618
Preparer
Ismail Konuk
Phone
2014066825
Supplemental Narrative

Additional Explanations

Part XI Line 9

“Reconciliation of changes- other prior period adjustment”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/AgentTrusteeEtcInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0589714
IRS990ScheduleD/BuildingsGrp/DepreciationAmt039202
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0627837
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01079
IRS990ScheduleD/DisclosedForCharitablePrpsInd0false
IRS990ScheduleD/DisclosedOrgLegCtrlInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt010215
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt010215
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0272163
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0272163
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0271425
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt030030
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0301455
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01079
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CLOSING COST
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt021510
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt021510
IRS990ScheduleD/Section170hRqrStsfdInd0false
IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01165027
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01079
IRS990ScheduleD/WrittenPolicyMonitoringInd0false
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION'S PROCESS TO REVIEW FORM 990 DRAFT OF RETURN IS SENT TO
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ACCOUNTANT WHO REVIEWS IT WITH THE PRESIDENT OF WCC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS DISCLOSURE EXPLANATION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3RECONCILIATION OF CHANGES- OTHER PRIOR PERIOD ADJUSTMENT
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part VI Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part VI Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Part XI Line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CT
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01417950
IRS990/TotalAssetsEOYAmt01425571
IRS990/TotalAssetsGrp/BOYAmt01417950
IRS990/TotalAssetsGrp/EOYAmt01425571
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0178324
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt024401
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0113514
IRS990/TotalFunctionalExpensesGrp/TotalAmt0137925
IRS990/TotalGrossUBIAmt0800
IRS990/TotalLiabilitiesBOYAmt0831408
IRS990/TotalLiabilitiesEOYAmt0826306
IRS990/TotalLiabilitiesGrp/BOYAmt0831408
IRS990/TotalLiabilitiesGrp/EOYAmt0826306
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0586542
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0599265
IRS990/TotalProgramServiceExpensesAmt0113514
IRS990/TotalReportableCompFromOrgAmt060800
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0179124
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0800
IRS990/TotalVolunteersCnt032
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01417950
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01425571
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt09 RESEARCH DRIVE
IRS990/USAddress/CityNm0MILFORD
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006460
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0OMER F KIZILCIK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02039344900
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WELLSPRING CULTURAL&EDUCATIONAL FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0WELL
ReturnHeader/Filer/EIN0061610852
ReturnHeader/Filer/InCareOfNm0% OMER F KIZILCIK
ReturnHeader/Filer/PhoneNum02039344900
ReturnHeader/Filer/USAddress/AddressLine1Txt09 RESEARCH DRIVE
ReturnHeader/Filer/USAddress/CityNm0MILFORD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006460
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0475513111
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CONFIDENCE ACCOUNTING SERVICES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0345 CLIFTON AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CLIFTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0070112618
ReturnHeader/PreparerPersonGrp/PhoneNum02014066825
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ISMAIL KONUK
ReturnHeader/ReturnTs02021-05-17T20:10:07-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,425,571
Liabilities
$826,306
Net assets
$599,265
Revenue
$179,124
Expenses
$137,925
Net income
$41,199
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$0.89$0.45$0.29$0.27$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.38$0.95$0.43$0.34$0.33$0.02
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.41$0.99$0.42$0.25$0.13$0.13
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.33$0.72$0.60$0.15$0.10$0.06
2020Detailed filing. Detailed filing data is available for this year.$1.43$0.83$0.60$0.18$0.14$0.04
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.42$0.83$0.59$0.15$0.14$0.01
2018Summary only. Only limited summary data is available for this year.$1.46$0.85$0.61$0.12$0.15$0.03
2017Summary only. Only limited summary data is available for this year.$1.65$0.67$0.99$0.20$0.22$0.02
2016Summary only. Only limited summary data is available for this year.$1.10$0.00$1.10$0.45$1.21$0.75
2015Detailed filing. Detailed filing data is available for this year.$3.01$1.20$1.80$2.20$2.18$0.02
2014Detailed filing. Detailed filing data is available for this year.$3.15$1.32$1.83$1.56$2.48$0.92
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.91$1.16$2.75$2.85$2.92$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.85$1.03$2.82$3.25
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.52$1.37$2.15$3.01
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.88$1.22$1.66$2.40