Civic Intelligence

Wellspring Inc.

990 • Fiscal year 2019 • EIN 31-1020023

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 29, 2020

PO Box 1927Louisville, KY 40201

(502) 637-4361

Siviq Scores

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

Liabilities / Assets

56th percentile

0.21x

Higher debt load relative to assets than 56% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

46th percentile

0.14x

Higher debt load relative to revenue than 46% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

27th percentile

-4.0%

Higher net margin than 27% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

18th percentile

-4.3%

Faster asset growth than 18% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

64th percentile

9.7%

Faster revenue growth than 64% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Down

$3,464,301

Down $156,632 (-4.3%) from 2018

Net Assets

Down

$2,743,002

Down $191,853 (-6.5%) from 2018

Liabilities

Up

$721,299

Up $35,221 (+5.1%) from 2018

Revenue

Up

$5,218,215

Up $459,970 (+9.7%) from 2018

Expenses

Up

$5,427,664

Up $365,476 (+7.2%) from 2018

Net Income

Up

-$209,449

Up $94,494 (+31%) from 2018

Historical Trend

Balance Sheet Trend

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

$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

2019

Assets$3,464,301
Liabilities$721,299
Net Assets$2,743,002

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2019

Revenue$5,218,215
Expenses$5,427,664
Net Income-$209,449
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 29, 2020
Return Version
2018v3.1
Gross Receipts
$5,340,717
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.

To promote the recovery of persons with mental illness through leadership in the development of quality housing and rehabilitation services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,192,378$2,019,165▼ $173,213
Cash and Non-Interest-Bearing Accounts$288,161$320,195▲ $32,034
Accounts Receivable$208,506$258,295▲ $49,789
Savings and Temporary Cash Investments$195,574$193,282▼ $2,292
Other Notes and Loans Receivable, Net$131,554$139,454▲ $7,900
Pledges and Grants Receivable$187,825$120,462▼ $67,363
Prepaid Expenses and Deferred Charges$6,906$4,150▼ $2,756
Total Assets$3,620,933$3,464,301▼ $156,632
Other Assets Total$410,029$409,298▼ $731
Liabilities
Accounts Payable and Accrued Expenses$329,136$389,279▲ $60,143
Mortgage Notes Payable Secured by Investment Property$349,498$328,280▼ $21,218
Other Liabilities$7,444$3,740▼ $3,704
Total Liabilities$686,078$721,299▲ $35,221
Net Assets / Fund Balance
Unrestricted Net Assets$2,283,761$2,127,088▼ $156,673
Permanently Rstr Net Assets$405,764$615,914▲ $210,150
Temporarily Rstr Net Assets$245,330$0▼ $245,330
Total Net Assets Fund Balance$2,934,855$2,743,002▼ $191,853
Total Liabilities and Net Assets / Fund Balance$3,620,933$3,464,301▼ $156,632

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,077,911$2,775,989$3,853,900
Equipment$561,724-$561,724
Land$379,530-$379,530
Other Assets Org$409,298--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$405,055-▲ $16,852$17,445$404,462
2017$394,296-▲ $27,384$16,625$405,055
2016$360,841-▲ $49,923$16,468$394,296
2015$376,074-▼ $15,233-$360,841
2014$379,505-▼ $3,431-$376,074
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Katharine R DobbinsCEOFT$106,065$11,526$117,591
John AlexanderCFOFT$78,778$9,595$88,373

Board Members and Trustees

NameTitle
Alan MacdonaldChair
Dawn CroftRecent Past Chair
Carrie SchanieVice Chair
Cissy MillsBoard Member
George W Rapp JrBoard Member
Jeff YussmanBoard Member
John TrawickBoard Member
Margaret PenningtonBoard Member
Paul CoomesBoard Member
Rich FreemanBoard Member
Rif El-mallakh MdBoard Member
Rolandas ByrdBoard Member
William FrielBoard Member
Curtiss ScottSecretary
Steve KerrickTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,871,686
Program Service Revenue
$2,406,775
Investment Income
$164
Other Revenue
$-60,410
All Other Contributions
$240,795
Change in Net Assets
$-209,449

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeReported AmountValuation Method
Clothing and Household Goods$43,000Selling Price
Total Noncash Contributions$43,000-

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,218,215
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$140,096
Total Revenue per Audited Statements
$5,358,311
Total Revenue per Form 990
$5,218,215
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,945,728
Other Expenses$2,481,936
Total Fundraising Expense$172,495
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$2,200,101$200,742$115,000$2,515,843
Insurance$366,957$50,471$17,222$434,650
All Other Expenses$237,863$57,395$11,002$306,260
Depreciation Depletion$201,852$15,684-$217,536
Payroll Taxes$159,312$28,041$8,637$195,990
Fees for Services Other$185,796$4,780$1,061$191,637
Current Officers, Directors, Trustees, and Key Employees-$184,843-$184,843
Other Expenses$121,581$10,489$912$132,982
Other Employee Benefits$33,089$14,372$1,591$49,052
Office Expenses$15,735$20,996$11,170$47,901
Travel$34,060$628-$34,688
Fees for Services Accounting$226$21,453-$21,679
Interest$17,377$1,548-$18,925
Conferences and Meetings$1,093$2,218$251$3,562
Advertising--$535$535
Total Functional Expenses$4,619,087$636,082$172,495$5,427,664

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,550,165
Expenses per Audited Statements$5,427,663
Total Expenses per Form 990$5,427,663
Expenses Not Reported on Form 990$122,502
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 Direct Expenses$122,502
Fundraising Gross Income$62,092
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Derby Preview Party$268,636$62,092$76,959$-14,867
Total Events$268,636$62,092$122,502$-60,410
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security and Resident Deposits$3,740
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 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
2020-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katharine R Dobbins
Formed
1981
Legal Domicile
Ky
Voting Board Members
15
Independent Board Members
15
Employees
137
Volunteers
37

Preparer

Firm
Jones Nale & Mattingly Plc
Address
642 SOUTH FOURTH ST STE 300, LOUISVILLE, KY 40202
Preparer
Kathy K Chlon
Phone
5025830248
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in beneficial interest in restricted endowment 17,595.

FORM 990, PART XII, LINE 2C:

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 17,594. Special event expenses 122,502.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Special event expenses 122,502.

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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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IRS990/Desc0WELLSPRING OPERATES TWO CARF ACCREDITED CRISIS UNITS FOR ADULTS IN PSYCHIATRIC CRISIS. THE PROGRAM OFFERS A COMMUNITY-BASED AND COST EFFECTIVE ALTERNATIVE TO INPATIENT HOSPITILIZATION 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 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. THE PROGRAMS CAN ACCOMMODATE A MAXIMUM OF 18 PEOPLE ON ANY GIVEN DAY AND SERVED 560 PEOPLE IN FISCAL YEAR 2019. THE PROGRAMS WORK CLOSELY WITH THE PSYCHIATRIC EMERGENCY ROOM, HOSPITALS, AND OUTPATIENT PROVIDERS FOR REFERRALS, DIVERTING 90% FROM HOSITALIZATION.
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
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IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
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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/OtherExpensesGrp/Desc3UTILITIES AND TELEPHONE
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IRS990/OtherExpensesGrp/FundraisingAmt1912
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt022422
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt110489
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IRS990/OtherExpensesGrp/TotalAmt2133314
IRS990/OtherExpensesGrp/TotalAmt3132982
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IRS990/PayrollTaxesGrp/FundraisingAmt08637
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt028041
IRS990/PayrollTaxesGrp/ProgramServicesAmt0159312
IRS990/PayrollTaxesGrp/TotalAmt0195990
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0405764
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0615914
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IRS990/PrincipalOfficerNm0KATHARINE R DOBBINS
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1171377
IRS990/ProgSrvcAccomActy2Grp/Desc0WELLSPRING'S SUPPORTIVE AND AFFORDABLE HOUSING PROGRAMS SERVE ADULTS WITH SERIOUS MENTAL ILLNESS WHO ARE LIVING ON INCOMES WELL BELOW THE FPI.IN 2019 WE PROVIDED 100 ADULTS WITH MENTAL ILLNESS HOUSING IN PROPERTIES OWNED BY WELLSPRING AND NEARLY 250 PEOPLE IN SCATTERED SITE MAINSTREAM RENTAL UNITS. SERVICES SUCH AS CASE MANAGEMENT ARE AVAILABLE AND MANY CLIENTS RECEIVE THESE SERVICES. TO QUALIFY FOR THESE SERVICES A CLIENT MUST HAVE A DOCUMENTED MENTAL HEALTH DISABILITY/ILLNESS, HISTORY OF SUBSTANCE ABUSE, OR HOMELESSNESS. APPROXIMATELY 350 ADULTS WERE IN WELLSPRING HOUSING PROGRAMS IN FISCAL YEAR 2019.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt02512306
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0817206
IRS990/ProgSrvcAccomActy3Grp/Desc0WELLSPRING'S SUPPORTED EMPLOYMENT PROGRAM IS BASED ON AN EVIDENCED MODEL CALLED IPS OR INDIVIDUAL PLACEMENT & SUPPORT THAT WAS DEVELOPED AT DARTMOUTH COLLEGE. THIS APPROACH FOCUSES ON HELPING CLIENTS 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 THESE GOALS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0179358
IRS990/ProgSrvcAccomActyOtherGrp/Desc0PASS & ACT SERVICES - WELLSPRING HAS BEEN GROWING THE OUTPATIENT SERVICES OFFERED THROUGH OUR BHSO (BEHAVIORAL HEALTH SERVICES ORGANIZATION). WE ARE PROVIDING OUTPATIENT GROUP, INDIVIDUAL THERAPY, CASE MANAGEMENT, AND PEER SUPPORT AS WELL AS INTENSIVELY SUPPORTED PROGRAMS LIKE ASSERTIVE COMMUNITY TREATMENT TEAM AND WISH WHICH PROVIDES SEVEN DAY A WEEK SUPPORT SERVICES TO HIGHLY VULNERABLE CLIENTS. IN 2017, WE BECAME ACCREDITED IN OUTPATIENT SERVICE, CASE MANAGEMENT, AND COMMUNITY HOUSING IN ADDITION TO RE-ACCREDITING OUR CRISIS STABILIZATION PROGRAMS.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0323778
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt0246876
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt010428269
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0164

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