Civic Intelligence

Wellspring Inc

EIN 31-1020023 • 501(c)3 • Louisville, KY

Profile

Wellspring promotes mental health recovery and supports individuals in building healthy and hopeful lives through behavioral health, housing, and employment services.

PO Box 1927Louisville, KY 40201

www.wellspringky.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

58th percentile

0.19x

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

501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

44th percentile

0.12x

Higher debt load relative to revenue than 44% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

35th percentile

-0.5%

Higher net margin than 35% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

17th percentile

-5.3%

Faster asset growth than 17% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

32nd percentile

-1.1%

Faster revenue growth than 32% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Up

$14,276,140

Up $5,312,395 (+59%) from 2023

Liabilities

Up

$9,994,625

Up $5,317,991 (+114%) from 2023

Net Assets

Down

$4,281,515

Down $5,596 (-0.1%) from 2023

Revenue

Down

$7,574,893

Down $221,978 (-2.8%) from 2023

Expenses

Up

$7,633,142

Up $827,946 (+12%) from 2023

Net Income

Down

-$58,249

Down $1,049,924 (-106%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2017: $4,037,543Liabilities 2017: $827,103Net Assets 2017: $3,210,4402017Assets 2018: $3,620,933Liabilities 2018: $686,078Net Assets 2018: $2,934,8552018Assets 2019: $3,464,301Liabilities 2019: $721,299Net Assets 2019: $2,743,0022019Assets 2020: $3,893,097Liabilities 2020: $1,378,283Net Assets 2020: $2,514,8142020Assets 2021: $4,225,957Liabilities 2021: $860,120Net Assets 2021: $3,365,8372021Assets 2022: $4,000,310Liabilities 2022: $750,583Net Assets 2022: $3,249,7272022Assets 2023: $8,963,745Liabilities 2023: $4,676,634Net Assets 2023: $4,287,1112023Assets 2024: $14,276,140Liabilities 2024: $9,994,625Net Assets 2024: $4,281,5152024

Highlighted filing

2024

Assets$14,276,140
Liabilities$9,994,625
Net Assets$4,281,515

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2017: $4,495,542Expenses 2017: $4,934,060Net Income 2017: -$438,5182017Revenue 2018: $4,758,245Expenses 2018: $5,062,188Net Income 2018: -$303,9432018Revenue 2019: $5,218,215Expenses 2019: $5,427,664Net Income 2019: -$209,4492019Revenue 2020: $5,490,508Expenses 2020: $5,728,198Net Income 2020: -$237,6902020Revenue 2021: $6,404,279Expenses 2021: $5,673,506Net Income 2021: $730,7732021Revenue 2022: $6,332,385Expenses 2022: $6,366,638Net Income 2022: -$34,2532022Revenue 2023: $7,796,871Expenses 2023: $6,805,196Net Income 2023: $991,6752023Revenue 2024: $7,574,893Expenses 2024: $7,633,142Net Income 2024: -$58,2492024

Highlighted filing

2024

Revenue$7,574,893
Expenses$7,633,142
Net Income-$58,249

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Mar 7, 2025
Return Version
2023v6.0
Gross Receipts
$7,726,371
Mission and Program Overview

Mission

Wellspring promotes mental health recovery and supports individuals in building healthy and hopeful lives through behavioral health, housing, and employment services.

Wellspring's mission is to lead our community in developing housing, providing evidence-based treatment and strengthening recovery for adults with mental illness.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,443,094$10,003,734▲ $5,560,640
Cash and Non-Interest-Bearing Accounts$1,158,290$1,425,522▲ $267,232
Savings and Temporary Cash Investments$826,716$1,005,216▲ $178,500
Other Notes and Loans Receivable, Net$326,894$694,045▲ $367,151
Pledges and Grants Receivable$1,504,273$349,280▼ $1,154,993
Accounts Receivable$236,644$323,565▲ $86,921
Prepaid Expenses and Deferred Charges$43,173$14,920▼ $28,253
Total Assets$8,963,745$14,276,140▲ $5,312,395
Other Assets Total$424,661$459,858▲ $35,197
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,318,901$9,430,702▲ $5,111,801
Accounts Payable and Accrued Expenses$297,461$311,281▲ $13,820
Other Liabilities$60,272$252,642▲ $192,370
Total Liabilities$4,676,634$9,994,625▲ $5,317,991
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,655,761$2,963,776▲ $308,015
Net Assets With Donor Restrictions$1,631,350$1,317,739▼ $313,611
Total Net Assets Fund Balance$4,287,111$4,281,515▼ $5,596
Total Liabilities and Net Assets / Fund Balance$8,963,745$14,276,140▲ $5,312,395

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,167,991$2,470,760$11,638,751
Land$759,460-$759,460
Equipment$76,283$624,902$701,185

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$424,661-▲ $52,653$17,456$459,858
2022$400,744-▲ $45,709$21,792$424,661
2021$502,752-▼ $78,356$20,151$400,744
2020$400,751-▲ $121,195$19,194$502,752
2019$409,298-▲ $10,337$18,884$400,751
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Katharine R DobbinsCEOFT$131,827$14,024$145,851
John AlexanderCFOFT$117,350$6,328$123,678

Board Members and Trustees

NameTitle
William FrielChair
Alexis MillsBoard Member
Carrie SchanieBoard Member
Chris HaraganBoard Member
George W Rapp JrBoard Member
Jennifer Wood MdBoard Member
Jill BrenzelBoard Member
Josh StearnsBoard Member
Kathleen CoganBoard Member
Margaret PenningtonBoard Member
Michael PattersonBoard Member
Rolandas ByrdBoard Member
Steve KerrickBoard Member
Timothy ManningBoard Member
Tracy E DavisBoard Member
Serrita BellSecretary
Curtiss ScottTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,719,284
Program Service Revenue
$3,326,282
Investment Income
$409,377
Other Revenue
$119,950
All Other Contributions
$370,764
Change in Net Assets
$-58,249

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeReported AmountValuation Method
Other Non Cash Contri Table$17,000Fair Market Value (FMV)
Other Non Cash Contri Table$10,000Fair Market Value (FMV)
Other Non Cash Contri Table$3,000Fair Market Value (FMV)
Total Noncash Contributions$30,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,574,893
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$168,331
Total Revenue per Audited Statements
$7,743,224
Total Revenue per Form 990
$7,574,893
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,595,884
Other Expenses$3,037,258
Total Fundraising Expense$213,961
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,431,576$92,491$117,524$3,641,591
All Other Expenses$401,175$21,116$12,056$434,347
Other Employee Benefits$324,513$27,558$8,825$360,896
Payroll Taxes$247,051$22,625$8,719$278,395
Current Officers, Directors, Trustees, and Key Employees-$249,177-$249,177
Other Expenses$197,055$12,527$1,734$211,316
Insurance$172,432$11,126$2,604$186,162
Fees for Services Other$156,214$24,318$4,130$184,662
Depreciation Depletion$151,216$2,162-$153,378
Information Technology$76,918$31,545-$108,463
Pension Plan Contributions$46,371$16,738$2,716$65,825
Office Expenses$18,509$6,153$33,121$57,783
Travel$48,390$1,382-$49,772
Fees for Services Accounting-$46,894-$46,894
Interest$13,220$5,189-$18,409
Fees for Services Management--$7,088$7,088
Conferences and Meetings$1,477$1,943$24$3,444
Total Functional Expenses$6,770,233$648,948$213,961$7,633,142

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,748,820
Expenses per Audited Statements$7,633,142
Total Expenses per Form 990$7,633,142
Expenses Not Reported on Form 990$115,678
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$235,628
Fundraising Direct Expenses$115,678
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Derby Preview Party$265,628$235,628$54,579$181,049
Total Events$265,628$235,628$115,678$119,950
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$196,836
Payee Services$24,530
Security and Resident Deposits$22,476
Deferred Rent$8,800
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The cfo and ceo of the organization prepare a summary of the 990. This summary is attached to the 990 and sent to the board of directors to review prior to the filing deadline. The board of directors is encouraged to review the 990 in detail. Any questions or concerns that board members may have on the 990 are answered by the cfo and the ceo.

Form 990, Part VI, Section B, Line 12C

Officers and board members of the organization are required to disclose annually all conflicts of interest. The organization also documents any potential conflicts of interest in the board minutes.

Form 990, Part VI, Section B, Line 15

The board of directors determines the annual raises for all employees and officers. The raises are determined using a calculation starting with a flat percentage increase across the board and then adjusted based on staff position and performance review.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. The financial statements are also included in the organization's annual report.

Filing and Contact Details

Filer

Filer Name
Wellspring Inc
EIN
31-1020023
Phone
5026374361
Address
PO BOX 1927, LOUISVILLE, KY 40201

Signing Officer

Name
Katharine R Dobbins
Title
CEO
Phone
5026374361
Signed
2025-03-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katharine R Dobbins
Formed
1981
Legal Domicile
Ky
Voting Board Members
17
Independent Board Members
17
Employees
130
Volunteers
217

Preparer

Firm
Jones Nale & Mattingly Plc
Address
401 WEST MAIN STREET SUITE 1100, LOUISVILLE, KY 40202
Preparer
Larry Gumbel
Phone
5025830248
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in beneficial interest in restricted endowment 52,653.

990

No change from prior year.

Financial Statement Notes

PART V, LINE 4:

The organization's endowment funds consist of beneficial interests in assets held by the community foundation of louisville. The beneficial interests in assets held are comprised of grant funds which were contributed to the community foundation of louisville for the right to receive a guaranteed percentage distribution of fair market value of the endowment fund quarterly. The organization does not have input or authority over the nature and type of investments held in the funds. The trustees of the community foundation of louisville have sole discretion over the investments and the amount and timing of distributions from the fund. As required by accounting principles generally accepted in the united states of america, net assets associated with endowment funds, including funds designated by the board of directors to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. All funds distributed or made available for distribution under the agreement with louisville community foundation, net of related investment expenses, are included with net assets with donor restrictions. Increases or decreases in fair market value of the endowment fund increase or decrease net assets with donor restrictions. Earnings on this fund are distributed quarterly and used as determined by the board of directors.

PART X, LINE 2:

The organization's accounting policy provides that a tax expense/benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. The organization has no uncertian tax positions resulting in an accrual of a tax expense or benefit.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in beneficial interest in restricted endowment 52,653. Special events expenses, netted 115,678.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Special events expenses, netted 115,678.

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IRS990/Desc0WELLSPRING OPERATES TWO CARF ACCREDITED CRISIS UNITS FOR ADULTS INPSYCHIATRIC CRISIS. THE PROGRAM OFFERS A COMFORTABLE, COMMUNITY-BASED AND COST EFFECTIVE ALTERNATIVE TO INPATIENT HOSPITALIZATION FOR ADULTS WHO NEED AN INTENSIVE LEVEL OF SUPPORT BUT DO NOT REQUIRE THE LOCKED DOWN SAFETY OF AN INPATIENT HOSPITAL. THESE CRISIS STABILIAZATION UNITS(CSUS) ARE LICENSED BY THE COMMONWEALTH OF KY AND MONITORED BY THE OFFICE OF THE INSPECTOR GENERAL TO MEET QUALITY STANDARDS. THE PROGRAMS PROVIDE 24-HOUR STAFF SUPPORT WITH A MULTI-DISCIPLINARY TEAM APPROACH, INCLUDING ON SITE SERVICES FROM A PSYCHIATRIST, APRN, CLINICAL SOCIAL WORKERS, ART THERAPISTS AND PSYCH REHAB COUNSELORS. THE PROGRAMS CAN ACCOMMODATE A MAXIMUM OF 18 PEOPLE ON ANY GIVEN DAY AND SERVED 333 PEOPLE IN FISCAL YEAR 2024. THE PROGRAMS WORK CLOSELY WITH THE PSYCHIATRIC EMERGENCY ROOM, HOSPITALS, OUTPATIENT PROVIDERS, FAMILIES, AND OTHER COMMUNITY RESOURCES FOR REFERRALS, DIVERTING 90% FROM HOSPITALS. IN 2023, OUR ACCREDITION WAS EXTENDED FOR ANOTHER THREE-YEAR TERM.
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IRS990/Form990PartVIISectionAGrp/PersonNm15JILL BRENZEL
IRS990/Form990PartVIISectionAGrp/PersonNm16JOSH STEARNS
IRS990/Form990PartVIISectionAGrp/PersonNm17JOHN ALEXANDER
IRS990/Form990PartVIISectionAGrp/PersonNm18KATHARINE R DOBBINS
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IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
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IRS990/FundraisingDirectExpensesAmt0115678
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IRS990/GrantsToOrganizationsInd00
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IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt031545
IRS990/InformationTechnologyGrp/ProgramServicesAmt076918
IRS990/InformationTechnologyGrp/TotalAmt0108463
IRS990/InsuranceGrp/FundraisingAmt02604
IRS990/InsuranceGrp/ManagementAndGeneralAmt011126
IRS990/InsuranceGrp/ProgramServicesAmt0172432
IRS990/InsuranceGrp/TotalAmt0186162
IRS990/InterestGrp/ManagementAndGeneralAmt05189
IRS990/InterestGrp/ProgramServicesAmt013220
IRS990/InterestGrp/TotalAmt018409
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IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0WELLSPRING PROMOTES MENTAL HEALTH RECOVERY AND SUPPORTS INDIVIDUALS IN BUILDING HEALTHY AND HOPEFUL LIVES THROUGH BEHAVIORAL HEALTH, HOUSING, AND EMPLOYMENT SERVICES.
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0119950
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IRS990/OfficeExpensesGrp/ProgramServicesAmt018509
IRS990/OfficeExpensesGrp/TotalAmt057783
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt08825
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0360896
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IRS990/OtherExpensesGrp/Desc1MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc2PROGRAMS
IRS990/OtherExpensesGrp/Desc3UTILITIES AND TELEPHONE
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IRS990/OtherExpensesGrp/FundraisingAmt11734
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt212527
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IRS990/PayrollTaxesGrp/ProgramServicesAmt0247051
IRS990/PayrollTaxesGrp/TotalAmt0278395
IRS990/PensionPlanContributionsGrp/FundraisingAmt02716
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt016738
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt046371
IRS990/PensionPlanContributionsGrp/TotalAmt065825
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IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt043173
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt014920
IRS990/PrincipalOfficerNm0KATHARINE R DOBBINS
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IRS990/ProgramServiceRevenueGrp/Desc0CLIENT SERVICES
IRS990/ProgramServiceRevenueGrp/Desc1APARTMENT RENTALS
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1166770
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1166770
IRS990/ProgSrvcAccomActy2Grp/Desc0WELLSPRING'S SUPPORTIVE AND AFFORDABLE HOUSING PROGRAMS SERVE ADULTSWITH SERIOUS MENTAL ILLNESS WHO ARE LIVING ON INCOMES WELL BELOW THEFPL-TYPICALLY, <50% OF AMI. IN FISCAL YEAR 2023 WE PROVIDED 100+ ADULTS WITH MENTAL ILLNESS HOUSING IN PROPERTIES OWNED BY WELLSPRING AND OVER 450 PEOPLE IN SCATTERED SITE MAINSTREAM RENTAL UNITS. SERVICES LIKE CASE MANAGEMENT, PEER SUPPORT, AND THERAPY ARE AVAILABLE TO CLIENTS IN OUR HOUSING PROGRAMS. TO QUALIFY FOR THESE PROGRAMS A CLIENT MUST HAVE A DOCUMENTED MENTAL HEALTH DISABILITY/ILLNESS, MANY HAVE A SUBSTANCE ABUSE D/O, A PHYSICAL HEALTH CONDITION, AND /OR ARE HOMELESS. MORE THAN 522 PEOPLE PARTICIPATED IN WELLSPRING HOUSING PROGRAMS IN FISCAL YEAR 2024. IN 2023, WE EXTENDED OUR ACCREDITATION IN COMMUNITY HOUSING FOR ANOTHER 3 YEARS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt02931267
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01280080
IRS990/ProgSrvcAccomActy3Grp/Desc0WELLSPRING, THROUGH OUR BHSO (BEHAVIORAL HEALTH ORGANIZATION), PROVIDES OUTPATIENT GROUP TX, INDIVIDUAL THERAPY, CASE MANAGEMENT AND PEER SUPPORT AS WELL AS INTENSIVELY SUPPORTED SPECIALTY PROGRAMS LIKE ASSERTIVE COMMUNITY TREATMENT (ACT) TEAM, WISH WHICH PROVIDES SEVEN DAY A WEEK SUPPORT SERVICES TO HIGHLY VULNERABLE CLIENTS, AND PIC (PROGRAM FOR INTEGRATED CARE) WHICH IS A SAMHSA SUPPORTED PROGRAM FOR ADULTS WITH CO-OCCURRING MENTAL ILLNESS AND SUBSTANCE USE DISORDERS. IN 2023, WE EXTENDED OUR ACCREDITATION IN OUTPATIENT SERVICE AND CASE MANAGEMENT FOR ANOTHER 3 YEARS (THE MAXIMUM ACHIEVABLE OUTCOME). WE SERVED 643 PEOPLE THROUGH OUR BHSO IN 2024.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt01707610
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0796775
IRS990/ProgSrvcAccomActyOtherGrp/Desc0WELLSPRING'S SUPPORTED EMPLOYMENT PROGRAM IS BASED ON AN EVIDENCED BASED MODEL CALLED IPS OR INDIVIDUAL PLACEMENT & SUPPORT. THIS APPROACH FOCUSES ON HELPING CLIENTS WITH MENTAL ILLNESS TO DEVELOP EMPLOYMENT GOALS THAT TRULY REFLECT THEIR INTERESTS, VALUES, SKILLS, AND EXPERIENCES AND SEEKS TO HELP THESE CLIENTS FIND COMPETITIVE EMPLOYMENT THAT ALIGNS WITH THEIR GOALS.
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IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt025500
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IRS990/RevenueAmt01223927

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