Civic Intelligence

Wellspring Karitas Foundation

990 • Fiscal year 2017 • EIN 23-2176303

Jan 01, 2017 to Dec 31, 2017 • Filed on May 09, 2018

Organization Profilewww.KaritasFoundation.org
1275 Rose LaneBerwyn, PA 19312

(610) 647-4142

Siviq Scores

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

Liabilities / Assets

59th percentile

0.00x

Higher debt load relative to assets than 59% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

58th percentile

0.00x

Higher debt load relative to revenue than 58% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

76th percentile

20%

Higher net margin than 76% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

83rd percentile

$19,948

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

85th percentile

52%

Faster asset growth than 85% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

91st percentile

81%

Faster revenue growth than 91% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$232,986

Up $79,852 (+52%) from 2016

Net Assets

Up

$232,159

Up $80,263 (+53%) from 2016

Liabilities

Down

$827

Down $411 (-33%) from 2016

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin76th percentile

Revenue

Up

$404,917

Up $181,165 (+81%) from 2016

Expenses

Up

$324,654

Up $114,336 (+54%) from 2016

Net Income

Up

$80,263

Up $66,829 (+497%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

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

$600K$400K$200K$0Assets 2010: $82,048Liabilities 2010: $159Net Assets 2010: $81,8892010Assets 2011: $111,346Liabilities 2011: $1,109Net Assets 2011: $110,2372011Assets 2012: $122,528Liabilities 2012: $189Net Assets 2012: $122,3392012Assets 2013: $71,699Liabilities 2013: $3,350Net Assets 2013: $68,3492013Assets 2014: $170,838Liabilities 2014: $680Net Assets 2014: $170,1582014Assets 2015: $138,882Liabilities 2015: $420Net Assets 2015: $138,4622015Assets 2016: $153,134Liabilities 2016: $1,238Net Assets 2016: $151,8962016Assets 2017: $232,986Liabilities 2017: $827Net Assets 2017: $232,1592017Assets 2018: $417,985Liabilities 2018: $3,248Net Assets 2018: $414,7372018Assets 2019: $386,438Liabilities 2019: $768Net Assets 2019: $385,6702019Assets 2020: $319,529Liabilities 2020: $4,383Net Assets 2020: $315,1462020Assets 2021: $345,679Liabilities 2021: $684Net Assets 2021: $344,9952021Assets 2022: $400,581Liabilities 2022: $57Net Assets 2022: $400,5242022Assets 2023: $341,989Liabilities 2023: $4,347Net Assets 2023: $337,6422023Assets 2024: $359,985Liabilities 2024: $623Net Assets 2024: $359,3622024

Highlighted filing

2017

Assets$232,986
Liabilities$827
Net Assets$232,159
Open 2017 Filing

Operations Trend

Revenue Growth91st percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $129,3732010Expenses 2011: $123,0372011Expenses 2012: $148,3692012Revenue 2013: $91,690Expenses 2013: $145,680Net Income 2013: -$53,9902013Revenue 2014: $263,849Expenses 2014: $162,040Net Income 2014: $101,8092014Revenue 2015: $195,990Expenses 2015: $227,686Net Income 2015: -$31,6962015Revenue 2016: $223,752Expenses 2016: $210,318Net Income 2016: $13,4342016Revenue 2017: $404,917Expenses 2017: $324,654Net Income 2017: $80,2632017Revenue 2018: $510,956Expenses 2018: $328,378Net Income 2018: $182,5782018Revenue 2019: $235,493Expenses 2019: $264,560Net Income 2019: -$29,0672019Revenue 2020: $224,749Expenses 2020: $295,273Net Income 2020: -$70,5242020Revenue 2021: $282,743Expenses 2021: $252,894Net Income 2021: $29,8492021Revenue 2022: $354,843Expenses 2022: $299,314Net Income 2022: $55,5292022Revenue 2023: $263,521Expenses 2023: $326,403Net Income 2023: -$62,8822023Revenue 2024: $402,071Expenses 2024: $380,351Net Income 2024: $21,7202024

Highlighted filing

2017

Revenue$404,917
Expenses$324,654
Net Income$80,263
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
May 9, 2018
Return Version
2017v2.2
Gross Receipts
$404,917
Mission and Program Overview

Mission

To provide: a) Programs that enhance

To provide: a) programs that enhance the health and welfare of children, b)vocational development opportunities for low income people seeking a more secure economic future, c)see attached note

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$148,099$221,116▲ $73,017
Cash and Non-Interest-Bearing Accounts$5,035$11,870▲ $6,835
Total Assets$153,134$232,986▲ $79,852
Liabilities
Accounts Payable and Accrued Expenses$1,238$827▼ $411
Total Liabilities$1,238$827▼ $411
Net Assets / Fund Balance
Unrestricted Net Assets$151,896$232,159▲ $80,263
Total Net Assets Fund Balance$151,896$232,159▲ $80,263
Total Liabilities and Net Assets / Fund Balance$153,134$232,986▲ $79,852
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Erik FriendCEOFT$14,419$5,529$19,948

Board Members and Trustees

NameTitle
Howard Friend JnrPresident
Brian GibsonBoard Member
Deedee RisherBoard Member
Linda StevensonBoard Member
Elizabeth KilloughSecretary
David FunkhouserTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$404,855
Program Service Revenue
$0
Investment Income
$62
Other Revenue
$0
All Other Contributions
$404,855
Change in Net Assets
$80,263
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$243,419
Other Expenses$62,746
Salaries, Compensation, and Employee Benefits$18,489
Total Fundraising Expense$8,558
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$229,419--$229,419
Current Officers, Directors, Trustees, and Key Employees$8,400$2,400$1,200$12,000
Grants to Domestic Individuals$8,000--$8,000
Travel$4,996$1,427$714$7,137
Grants to Domestic Orgs$6,000--$6,000
Other Employee Benefits$3,870$1,106$553$5,529
Office Expenses$402$3,212$402$4,016
Advertising$0$0$3,274$3,274
Fees for Services Accounting$0$2,650$0$2,650
Other Expenses$1,021$292$146$1,459
Payroll Taxes$672$192$96$960
Insurance$312$89$45$446
Total Functional Expenses$301,414$14,682$8,558$324,654
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Urban EducationPhiladelphia, PA501c3Educate children$6,000

International Summary

Offices
0
Employees
1
Spending
$229,419

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
North AmericaGrants to recipientsSee Sch F part II01$229,419
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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
Yes
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
WellspringKaritas Foundation
EIN
23-2176303
Phone
6106474142
Address
1275 Rose Lane, Berwyn, PA 19312

Signing Officer

Name
Howard Friend
Title
President
Phone
6106474142
Signed
2018-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Howard Friend
Formed
1981
Legal Domicile
Pa
Voting Board Members
1
Independent Board Members
1
Employees
1
Volunteers
10

Preparer

Firm
Julian Sur CPA
Address
675 Lancaster Ave, Berwyn, PA 19312-1636
Preparer
Julian Sur CPA
Phone
6106474833
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The Board President reviews and approves the form 990 and notes his approval of all informational filings in the Board minutes prior to the filing of any returns.”

Pt VI, Line 12C

“Annually the President distributes to the Board, a list of all vendors with whom the Foundation has transacted business. Annually all board members make written disclosures, if any, of all reportable conflicts on a disclosure statement. The President reviews and approves all completed forms in accordance with the Foundation's conflict of interest policy.”

Pt VI, Line 2

“The executive director of the Foundation is the son of the President and received a wage of $14,419.”

Pt VI, Line 15A

“The wage of the executive director is considered to be consistent with market levels.”

Pt VI, Line 15B

“The wage of the executive director is considered to be reasonable.”

Pt VI, Line 19

“The President makes available, the governing documents, conflict of interest policy and financial statements, upon written request within 3 business days.”

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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt0229419
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0North America
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0See Sch F part II
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Grants to recipients
IRS990ScheduleF/BoycottCountriesInd0false
IRS990ScheduleF/ForeignCorpOwnershipInd0false
IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0true
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt061500
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt160000
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt220000
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt387919
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0Grants
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt1Grants
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt2Grants
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt3Grants
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0See note
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt1See note
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt2See note
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt3See note
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0North America
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt1North America
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt2North America
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt3North America
IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/SubtotalEmployeesCnt01
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt0229419
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0The executive director is on site at all locations where the grants are funded and ensures the funds are used for the mission of the Foundation.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt I Line 2
IRS990ScheduleF/Total501c3OrgCnt00
IRS990ScheduleF/TotalEmployeeCnt01
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalOtherOrgCnt04
IRS990ScheduleF/TotalSpentAmt0229419
IRS990ScheduleF/TransferToForeignCorpInd0false
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt08000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Home renovations
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt010
IRS990ScheduleI/RecipientTable/CashGrantAmt06000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501c3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Educate children
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Urban Education
IRS990ScheduleI/RecipientTable/RecipientEIN0821945121
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01315 Walnut St
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Philadelphia
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0PA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd019107
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Board President reviews and approves the form 990 and notes his approval of all informational filings in the Board minutes prior to the filing of any returns.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Annually the President distributes to the Board, a list of all vendors with whom the Foundation has transacted business. Annually all board members make written disclosures, if any, of all reportable conflicts on a disclosure statement. The President reviews and approves all completed forms in accordance with the Foundation's conflict of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The executive director of the Foundation is the son of the President and received a wage of $14,419.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The wage of the executive director is considered to be consistent with market levels.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The wage of the executive director is considered to be reasonable.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The President makes available, the governing documents, conflict of interest policy and financial statements, upon written request within 3 business days.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0PA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0153134
IRS990/TotalAssetsEOYAmt0232986
IRS990/TotalAssetsGrp/BOYAmt0153134
IRS990/TotalAssetsGrp/EOYAmt0232986
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0404855
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt08558
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt014682
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0301414
IRS990/TotalFunctionalExpensesGrp/TotalAmt0324654
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01238
IRS990/TotalLiabilitiesEOYAmt0827
IRS990/TotalLiabilitiesGrp/BOYAmt01238
IRS990/TotalLiabilitiesGrp/EOYAmt0827
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0151896
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0232159
IRS990/TotalOtherCompensationAmt05529
IRS990/TotalProgramServiceExpensesAmt0301414
IRS990/TotalReportableCompFromOrgAmt014419
IRS990/TotalRevenueGrp/ExclusionAmt062
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0404917
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0153134
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0232986
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt0714
IRS990/TravelGrp/ManagementAndGeneralAmt01427
IRS990/TravelGrp/ProgramServicesAmt04996
IRS990/TravelGrp/TotalAmt07137
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0151896
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0232159
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01275 Rose Lane
IRS990/USAddress/CityNm0Berwyn
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019312
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0www.KaritasFoundation.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0HOWARD FRIEND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06106474142
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WellspringKaritas Foundation
ReturnHeader/Filer/BusinessNameControlTxt0WELL
ReturnHeader/Filer/EIN0232176303

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$232,986
Liabilities
$827
Net assets
$232,159
Revenue
$404,917
Expenses
$324,654
Net income
$80,263
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.60$0.01$3.59$4.02$3.80$0.22
2023Detailed filing. Detailed filing data is available for this year.$3.42$0.04$3.38$2.64$3.26$0.63
2022Detailed filing. Detailed filing data is available for this year.$4.01$0.00$4.01$3.55$2.99$0.56
2021Detailed filing. Detailed filing data is available for this year.$3.46$0.01$3.45$2.83$2.53$0.30
2020Detailed filing. Detailed filing data is available for this year.$3.20$0.04$3.15$2.25$2.95$0.71
2019Detailed filing. Detailed filing data is available for this year.$3.86$0.01$3.86$2.35$2.65$0.29
2018Detailed filing. Detailed filing data is available for this year.$4.18$0.03$4.15$5.11$3.28$1.83
2017Detailed filing. Detailed filing data is available for this year.$2.33$0.01$2.32$4.05$3.25$0.80
2016Detailed filing. Detailed filing data is available for this year.$1.53$0.01$1.52$2.24$2.10$0.13
2015Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.38$1.96$2.28$0.32
2014Detailed filing. Detailed filing data is available for this year.$1.71$0.01$1.70$2.64$1.62$1.02
2013Detailed filing. Detailed filing data is available for this year.$0.72$0.03$0.68$0.92$1.46$0.54
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.00$1.22$1.48
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.11$0.01$1.10$1.23
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.82$0.00$0.82$1.29