Civic Intelligence

Wellspring Cooperative Corporation

EIN 46-5509253 • 501(c)3 • Indian Orchard, MA

Profile

Wellspring's mission is to create an economy that is cooperative, equitable, democratic, and sustainable. We work with historically under-served communities in the greater springfield region by developing a network of worker cooperatives and by supporting communuty-led initiatives to cultivate cooperatives and collective well-being.

PO Box 51116Indian Orchard, MA 01151

www.wellspringcoop.org

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.51x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

85th percentile

0.74x

Higher debt load relative to revenue than 85% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

80th percentile

29%

Higher net margin than 80% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

81st percentile

24%

Faster asset growth than 81% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

48th percentile

6.0%

Faster revenue growth than 48% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,289,726

Up $249,723 (+24%) from 2023

Liabilities

Down

$655,293

Down $3,313 (-0.5%) from 2023

Net Assets

Up

$634,433

Up $253,036 (+66%) from 2023

Revenue

Up

$882,780

Up $50,058 (+6.0%) from 2023

Expenses

Down

$629,744

Down $28,881 (-4.4%) from 2023

Net Income

Up

$253,036

Up $78,939 (+45%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2014: $3,639Liabilities 2014: $02014Assets 2015: $215Liabilities 2015: $02015Assets 2016: $55,552Liabilities 2016: $0Net Assets 2016: $55,5522016Assets 2017: $64,057Liabilities 2017: $0Net Assets 2017: $64,0572017Assets 2018: $47,598Liabilities 2018: $02018Assets 2019: $17,761Liabilities 2019: $0Net Assets 2019: $17,7612019Assets 2020: $120,546Liabilities 2020: $0Net Assets 2020: $120,5462020Assets 2021: $156,253Liabilities 2021: $0Net Assets 2021: $156,2532021Assets 2022: $680,277Liabilities 2022: $473,046Net Assets 2022: $207,2312022Assets 2023: $1,040,003Liabilities 2023: $658,606Net Assets 2023: $381,3972023Assets 2024: $1,289,726Liabilities 2024: $655,293Net Assets 2024: $634,4332024

Highlighted filing

2024

Assets$1,289,726
Liabilities$655,293
Net Assets$634,433

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2014: $5,525Expenses 2014: $1,885Net Income 2014: $3,6402014Revenue 2015: $27,396Expenses 2015: $30,669Net Income 2015: -$3,2732015Revenue 2016: $99,579Expenses 2016: $44,242Net Income 2016: $55,3372016Revenue 2017: $152,141Expenses 2017: $143,636Net Income 2017: $8,5052017Revenue 2018: $116,015Expenses 2018: $132,474Net Income 2018: -$16,4592018Revenue 2019: $206,939Expenses 2019: $236,776Net Income 2019: -$29,8372019Revenue 2020: $314,784Expenses 2020: $211,999Net Income 2020: $102,7852020Revenue 2021: $407,844Expenses 2021: $372,137Net Income 2021: $35,7072021Revenue 2022: $365,841Expenses 2022: $336,695Net Income 2022: $29,1462022Revenue 2023: $832,722Expenses 2023: $658,625Net Income 2023: $174,0972023Revenue 2024: $882,780Expenses 2024: $629,744Net Income 2024: $253,0362024

Highlighted filing

2024

Revenue$882,780
Expenses$629,744
Net Income$253,036

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$882,780
Mission and Program Overview

Mission

Community development in low income area

To create a network of worker-owned firms to provide jobs and wealth for low-income residents of the city.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$114,217$520,410▲ $406,193
Accounts Receivable$255,332$101,130▼ $154,202
Land, Buildings, and Equipment, Net$11,589$9,806▼ $1,783
Prepaid Expenses and Deferred Charges$0$1,400▲ $1,400
Total Assets$1,040,003$1,289,726▲ $249,723
Other Assets Total$658,865$656,980▼ $1,885
Liabilities
Other Liabilities$639,320$638,459▼ $861
Mortgage Notes Payable Secured by Investment Property$15,350$16,236▲ $886
Accounts Payable and Accrued Expenses$3,936$598▼ $3,338
Total Liabilities$658,606$655,293▼ $3,313
Net Assets / Fund Balance
Net Assets With Donor Restrictions$53,861$370,345▲ $316,484
Net Assets Without Donor Restrictions$327,536$264,088▼ $63,448
Total Net Assets Fund Balance$381,397$634,433▲ $253,036
Total Liabilities and Net Assets / Fund Balance$1,040,003$1,289,726▲ $249,723

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,806$2,674$12,480
Other Assets Org$2,605--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Fred RoseCo-directorFT$87,722$87,722
Emily KawanoCo-directorFT$86,180$86,180

Board Members and Trustees

NameTitle
Ernesto CruzPresident
Lesenia FieldsVice President
Charlie SchweikDirector
Clive NdlovuDirector
Ivelice LefebvreDirector
Julia AgronDirector
Terry GibsonDirector
Todd BaileyDirector
Trayce WhitfieldDirector
Jeff JonesClerk
Moyah SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$854,253
Program Service Revenue
$13,145
Investment Income
$15,382
Other Revenue
$0
All Other Contributions
$501,323
Change in Net Assets
$253,036
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$262,844
Other Expenses$230,752
Grants and Similar Amounts Paid$136,148
Total Fundraising Expense$29,794
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$173,902-$173,902
Grants to Domestic Orgs$136,148--$136,148
Other Salaries and Wages$26,427$13,488$26,427$66,342
Fees for Services Other-$22,743-$22,743
Payroll Taxes$2,486$17,628$2,486$22,600
Fees for Services Accounting-$19,662-$19,662
Interest$15,375--$15,375
All Other Expenses-$11,037-$11,037
Occupancy$8,360--$8,360
Office Expenses$4,955$699$699$6,353
Other Expenses$25,615$5,816-$5,816
Depreciation Depletion$1,783--$1,783
Insurance$113$804$113$1,030
Advertising$486$69$69$624
Total Functional Expenses$327,983$271,967$29,794$629,744
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wellspring Community Harvest IncIndian Orchard, MA-Go Fresh Mobile Market$99,648
Wellspring Harvest CorporationIndian Orchard, MA-Wellspring Harvest$36,500
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Investors$532,500
Accrued Interest$100,389
Operating Lease Obligation$5,570
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
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

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

The board of directors reviews and approves the form 990 before it is filed.

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

If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member the opportunity to explain the alleged failure to disclose. If after hearing the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.

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.

Filing and Contact Details

Filer

Filer Name
Wellspring Cooperative Corporation
EIN
46-5509253
Phone
4135222204
Address
PO BOX 51116, INDIAN ORCHARD, MA 01151

Signing Officer

Name
Fred Rose
Title
Co-director
Phone
4135222204
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Fred Rose
Formed
2014
Legal Domicile
Ma
Voting Board Members
13
Independent Board Members
13
Employees
5
Volunteers
25

Preparer

Firm
Spinelli CPA Pc
Address
146 WEST BOYLSTON DRIVE SUITE 302, WORCESTER, MA 01606
Preparer
Karen Spinelli
Phone
5083656522
Supplemental Narrative

Additional Explanations

Form XII, Line 2C

The board of directors is responsible for oversight of the organization's financial statements and selection of an independent accountant. These processes have not changed during the year.

Raw XML AppendixShowing 400 of 494 raw XML fields

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/OtherExpensesGrp/ManagementAndGeneralAmt15816
IRS990/OtherExpensesGrp/ProgramServicesAmt0106235
IRS990/OtherExpensesGrp/ProgramServicesAmt125615
IRS990/OtherExpensesGrp/TotalAmt0106235
IRS990/OtherExpensesGrp/TotalAmt125615
IRS990/OtherExpensesGrp/TotalAmt26119
IRS990/OtherExpensesGrp/TotalAmt35816
IRS990/OtherLiabilitiesGrp/BOYAmt0639320
IRS990/OtherLiabilitiesGrp/EOYAmt0638459
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt026427
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt013488
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt026427
IRS990/OtherSalariesAndWagesGrp/TotalAmt066342
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt02486
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt017628
IRS990/PayrollTaxesGrp/ProgramServicesAmt02486
IRS990/PayrollTaxesGrp/TotalAmt022600
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01400
IRS990/PrincipalOfficerNm0FRED ROSE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0FEE FOR SERVICES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt013145
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt013145
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0803770
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0275424
IRS990/PYInvestmentIncomeAmt015376
IRS990/PYOtherExpensesAmt0130408
IRS990/PYOtherRevenueAmt08680
IRS990/PYProgramServiceRevenueAmt013576
IRS990/PYRevenuesLessExpensesAmt0174097
IRS990/PYSalariesCompEmpBnftPaidAmt0261473
IRS990/PYTotalExpensesAmt0667305
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0841402
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0253036
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt013145
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0854253
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0803770
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0365841
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02023864
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt015382
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt015376
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt030758
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt013145
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt013576
IRS990ScheduleA/OtherIncome170Grp/TotalAmt026721
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.97240
IRS990ScheduleA/PublicSupportPY170Pct00.96880
IRS990ScheduleA/PublicSupportTotal170Amt02023864
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0854253
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0803770
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0365841
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02023864
IRS990ScheduleA/TotalSupportAmt02081343
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt09806
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02674
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt012480
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0632889
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt121486
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt22605
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM WELLSPRING HARVEST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OPERATING RIGHT OF USE LEASED ASSETS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0100389
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1532500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt25570
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO INVESTORS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2OPERATING LEASE OBLIGATION
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09806
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0656980
IRS990ScheduleD/TotalLiabilityAmt0638459
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt036500
IRS990ScheduleI/RecipientTable/CashGrantAmt199648
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0WELLSPRING HARVEST
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1GO FRESH MOBILE MARKET
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0WELLSPRING HARVEST CORPORATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1WELLSPRING COMMUNITY HARVEST INC
IRS990ScheduleI/RecipientTable/RecipientEIN0475679674
IRS990ScheduleI/RecipientTable/RecipientEIN1852410273
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0121 PINEVALE STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1PO BOX 51116
IRS990ScheduleI/RecipientTable/USAddress/CityNm0INDIAN ORCHARD
IRS990ScheduleI/RecipientTable/USAddress/CityNm1INDIAN ORCHARD
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd001151
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd101151
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE FORM 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER THE OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF AFTER HEARING THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS IS RESPONSIBLE FOR OVERSIGHT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THESE PROCESSES HAVE NOT CHANGED DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0WELLSPRING COOPERATIVE CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0WELLSPRING INVESTMENT FUND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0811628119
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0RAISE CAPITAL TO SUPPORT WELLSPRING COOPERATIVE CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 12A, I
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO BOX 51116
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0INDIAN ORCHARD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd001151

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