Civic Intelligence

Well-Spring Foundation

990 • Fiscal year 2020 • EIN 56-2217797

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

Organization ProfileWWW.WELL-SPRING.ORG
4100 Well Spring DriveGreensboro, NC 27410

(336) 545-5407

Siviq Scores

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

Liabilities / Assets

84th percentile

0.02x

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

2020 filings • NTEE T • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

85th percentile

0.18x

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

2020 filings • NTEE T • $10M-$25M nonprofits • Source year 2020

Net Margin

79th percentile

73%

Higher net margin than 79% of similar nonprofits.

2020 filings • NTEE T • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

97th percentile

$384,399

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 26.6% of source-year revenue.

2020 filings • NTEE T • $10M-$25M nonprofits • Source year 2020

Asset Growth

79th percentile

17%

Faster asset growth than 79% of similar nonprofits.

2020 filings • NTEE T • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

79th percentile

131%

Faster revenue growth than 79% of similar nonprofits.

2020 filings • NTEE T • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$11,341,533

Up $1,682,313 (+17%) from 2019

Net Assets

Up

$11,079,387

Up $1,740,386 (+19%) from 2019

Liabilities

Down

$262,146

Down $58,073 (-18%) from 2019

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin79th percentile

Revenue

Up

$1,446,876

Up $821,119 (+131%) from 2019

Expenses

Up

$391,975

Up $101,784 (+35%) from 2019

Net Income

Up

$1,054,901

Up $719,335 (+214%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

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

$15M$10M$5.0M$0Assets 2010: $7,078,828Liabilities 2010: $216,001Net Assets 2010: $6,862,8272010Assets 2011: $7,314,195Liabilities 2011: $190,041Net Assets 2011: $7,124,1542011Assets 2012: $8,422,820Liabilities 2012: $142,098Net Assets 2012: $8,280,7222012Assets 2013: $9,124,032Liabilities 2013: $134,168Net Assets 2013: $8,989,8642013Assets 2014: $8,827,037Liabilities 2014: $321,865Net Assets 2014: $8,505,1722014Assets 2015: $8,617,540Liabilities 2015: $271,449Net Assets 2015: $8,346,0912015Assets 2016: $8,534,496Liabilities 2016: $114,402Net Assets 2016: $8,420,0942016Assets 2017: $9,311,733Liabilities 2017: $359,331Net Assets 2017: $8,952,4022017Assets 2018: $8,382,707Liabilities 2018: $296,755Net Assets 2018: $8,085,9522018Assets 2019: $9,659,220Liabilities 2019: $320,219Net Assets 2019: $9,339,0012019Assets 2020: $11,341,533Liabilities 2020: $262,146Net Assets 2020: $11,079,3872020Assets 2021: $13,259,937Liabilities 2021: $497,480Net Assets 2021: $12,762,4572021Assets 2022: $11,257,578Liabilities 2022: $478,445Net Assets 2022: $10,779,1332022Assets 2023: $11,697,990Liabilities 2023: $601,750Net Assets 2023: $11,096,2402023Assets 2024: $10,938,452Liabilities 2024: $73,124Net Assets 2024: $10,865,3282024

Highlighted filing

2020

Assets$11,341,533
Liabilities$262,146
Net Assets$11,079,387
Open 2020 Filing

Operations Trend

Revenue Growth79th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $78,2342010Expenses 2011: $74,1802011Revenue 2012: $984,764Expenses 2012: $70,283Net Income 2012: $914,4812012Revenue 2013: $283,772Expenses 2013: $225,057Net Income 2013: $58,7152013Revenue 2014: $1,045,449Expenses 2014: $353,538Net Income 2014: $691,9112014Revenue 2015: $774,230Expenses 2015: $648,893Net Income 2015: $125,3372015Revenue 2016: $546,524Expenses 2016: $631,876Net Income 2016: -$85,3522016Revenue 2017: $1,089,202Expenses 2017: $343,683Net Income 2017: $745,5192017Revenue 2018: $294,889Expenses 2018: $326,568Net Income 2018: -$31,6792018Revenue 2019: $625,757Expenses 2019: $290,191Net Income 2019: $335,5662019Revenue 2020: $1,446,876Expenses 2020: $391,975Net Income 2020: $1,054,9012020Revenue 2021: $2,151,437Expenses 2021: $533,311Net Income 2021: $1,618,1262021Revenue 2022: $1,308,920Expenses 2022: $681,565Net Income 2022: $627,3552022Revenue 2023: $945,355Expenses 2023: $1,322,118Net Income 2023: -$376,7632023Revenue 2024: $1,496,459Expenses 2024: $1,727,371Net Income 2024: -$230,9122024

Highlighted filing

2020

Revenue$1,446,876
Expenses$391,975
Net Income$1,054,901
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.1
Gross Receipts
$1,446,876
Mission and Program Overview

Mission

Well-spring foundation provides financial support to well-spring retirement community. The primary financial support is for health care service provided and charity care.

Well-spring foundation provides financial support to well-spring retirement community. The primary financial support is for health care services provided and charity care.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$9,643,083$11,326,647▲ $1,683,564
Cash and Non-Interest-Bearing Accounts$16,137$14,886▼ $1,251
Total Assets$9,659,220$11,341,533▲ $1,682,313
Liabilities
Escrow Account Liability$295,590$250,025▼ $45,565
Other Liabilities$22,629$12,121▼ $10,508
Accounts Payable and Accrued Expenses$2,000--
Total Liabilities$320,219$262,146▼ $58,073
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,877,062$7,861,999▲ $984,937
Net Assets With Donor Restrictions$2,461,939$3,217,388▲ $755,449
Total Net Assets Fund Balance$9,339,001$11,079,387▲ $1,740,386
Total Liabilities and Net Assets / Fund Balance$9,659,220$11,341,533▲ $1,682,313

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$11,326,647--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$8,717,282$755,522▲ $1,330,618$402,576$11,326,647
2019$7,560,166$85,483▲ $1,359,512$287,879$8,717,282
2018$8,337,152$26,696▼ $526,399$277,283$7,560,166
2017$7,502,261$42,639▲ $1,152,317$360,065$8,337,152
2016$7,529,532$54,812▲ $303,475$385,558$7,502,261
Compensation and Service Providers
Top Officer Pay97th percentile

Board Members and Trustees

NameTitle
Anthony BoydChairperson
Stephen P FlemingPresident
Ann ZurawDirector
Charles T Hagan IiiDirector
Davy DavidsonDirector
Kathryn Cookie BillingsDirector
Wendy GatlinDirector
Charles LucasSecretary
Don GwynnTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$756,655
Program Service Revenue
$0
Investment Income
$690,221
Other Revenue
$0
All Other Contributions
$756,655
Change in Net Assets
$1,054,901
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$391,975
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$240,417--$240,417
Grants to Domestic Orgs$151,558--$151,558
Total Functional Expenses$391,975$0$0$391,975
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Well-spring Retirement CommunityGreensboro, NC501(c)(3)General Support$151,558
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
Miscellaneous$12,121
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

“The well-spring retirement community board of trustees elects all of the well-spring foundation directors.”

Form 990, Part VI, Section A, Line 7B

“The well-spring retirement community board of trustees elects all of the well-spring foundation directors.”

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

“Before the filing of the information tax return 990 for well-spring foundation, the form 990 was reviewed in detail by the treasurer and president. Each member of the well-spring foundation's board of directors was provided with a copy of well-spring foundation's form 990 prior to filing of the form 990.”

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

“The directors shall complete and return to the secretary an annual statement that each of them: (a) has received a copy of the conflict of interest policy; (b) has read and understands the policy; (c) agrees to comply with this policy; (d) understands that the policy applies to all committees; and (e) understands that the organization is a charitable organization and must continuously engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

Form 990, Part VI, Section B, Line 15

“Well-spring foundation has no employees. The process followed by well-spring retirement community (related organization) is as follows: it shall be the policy of well-spring retirement community to annually review the performance of the president and ceo unless circumstances demand more frequent review intervals. The board of trustees shall conduct the president/ceo's review; however the board of trustees may delegate this function to its compensation committee. Procedures for setting compensation: 1) a board of trustees compensation committee shall be appointed annually by the board chair. The committee shall be comprised of the current chair, immediate past chair, chair elect (if any) and 1-2 trustees at large. 2) the committee shall meet approximately thirty days prior to the end of the well-spring retirement community's fiscal year. 3) prior to the meeting, the president/ceo shall provide comparable salary and benefit data through external sources such as the aahsa salary and benefit report, ncanpha wage survey, public record irs form 990s, and independent surveys. 4) prior to the meeting, the president/ceo shall provide a statement of achievements compared to goals for the current year and a preliminary list of performance goals for the succeeding year. 5) at the meeting, the president/ceo shall inform the committee of proposed salary adjustments for senior management for the succeeding year. The president/ceo may present comparable salary data for senior management at the committee's discretion. 6) at the meeting and after presenting year-end results and succeeding year goals, the committee may excuse the president/ceo, enter into executive session and discuss the president/ceo's performance and compensation. 7) at the conclusion of the meeting, the board of trustees' chair shall meet with the president/ceo in order to review the committee's assessment of performance and salary. Salary adjustments to the president/ceo's compensation shall be authorized by signature of the board chair or vice chair only. 8) at the first board of trustees' meeting following the compensation committee's meeting, the board of trustees' chair shall report the committee's findings and the committee's action regarding employment status, recommendations and salary or benefit adjustments for the president/ceo. Executive managers compensation philosophy objective: the compensation committee believes that the primary objectives of well-spring's executive compensation policies should be: 1) to attract and retain talented executives by providing compensation that is, overall, highly competitive with the compensation provided to executives at companies of comparable position in the continuing care retirement community field, while maintaining compensation within levels that are consistent with well-spring's annual budget, financial objectives, operating performance and resident and staff satisfaction; and 2) to provide appropriate incentives for executives to work toward the achievement of well-spring's annual financial performance and business goals based on well-spring's annual budget. The compensation committee reviews executive compensation policies annually taking into consideration well-spring's financial performance, its annual budget, its position in the industry and well-spring's mission statement and core values. The compensation committee believes that in addition to corporate performance, it is appropriate in setting and reviewing executive compensation to consider the level of experience and responsibilities of each executive officer as well as the personal contributions a particular individual may make to the success of well-spring retirement community, inc.”

Form 990, Part VI, Section C, Line 19

“Well-spring foundation's financial statements are consolidated with those of well-spring retirement community. Included with the audited financial statements are schedules, which show stand-alone figures for both well-spring foundation and well-spring retirement community. The consolidated financial statements are part of well-spring's annual disclosure statement, which is filed with the nc department of insurance. The nc department of insurance posts all disclosure statements on their web site. The consolidated financial statements are filed annually with the sec via www.disclosureusa.org. Additionally, copies of governing documents, conflict of interest policy and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Well-spring Foundation
EIN
56-2217797
Phone
3365455407
Address
4100 WELL SPRING DRIVE, GREENSBORO, NC 27410

Signing Officer

Name
Don H Gwynn Jr
Title
CFO
Phone
3365455407
Signed
2021-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Don H Gwynn Jr
Formed
2001
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Cliftonlarsonallen Llp
Address
227 WEST TRADE STREET SUITE 800, CHARLOTTE, NC 28202
Preparer
John Norman
Phone
7049985200
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Change in value of charitable gift annuities 33,096.”

Form 990, Part XII, Line 2C

“Oversight and selection process is unchanged from prior year.”

Financial Statement Notes

PART IV, LINE 2B:

“The community receives charitable gift annuities when a donor contributes assets to the community in exchange for the community paying a fixed annuity through the remainder of the donor's lifetime. The community calculates the present value of expected future annuity payments and records a liability. The difference between the fair value of the charitable gift asset and the present value of the liability for future annuity payments is recorded as either a restricted or unrestricted contribution, depending upon the donor's specification.”

PART V, LINE 4:

“The organization's endowment funds are for the purpose of providing charity care to well-spring retirement community residents and to provide financial support of well-spring retirement community's operational expenses.”

PART X, LINE 2:

“Services, the community, ace and the foundation are nonprofit organizations exempt from federal and state income taxes under internal revenue code section 501(c)(3). Services, the community, the foundation, and ace file as tax-exempt organizations. Should any status be challenged in the future, services, the community, the foundation, and ace are open for examination by federal, state, and local authorities. Management is not aware of any activities that would jeopardize the tax-exempt status of services, the community, the foundation or the ace. Management is not aware of any significant activities that are subject to tax on unrelated business income or excise or other taxes for services, the community or the foundation. Services, the community, the foundation, ace, and management & development follow guidance on the income tax standard regarding the recognition and measurement of uncertain tax positions. The guidance has had no impact on the organization's consolidated financial statements.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Change in value of charitable gift annuities net assets released from restrictions for use in operations”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Donor restricted contributions earnings on permanently restricted net assets”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Transfer of net assets from foundation to well-spring”

Raw XML AppendixShowing 400 of 558 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/MissionDesc0WELL-SPRING FOUNDATION PROVIDES FINANCIAL SUPPORT TO WELL-SPRING RETIREMENT COMMUNITY. THE PRIMARY FINANCIAL SUPPORT IS FOR HEALTH CARE SERVICE PROVIDED AND CHARITY CARE.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0WELL-SPRING RETIREMENT COMMUNITY
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IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt012121
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MISCELLANEOUS
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.15190
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMMUNITY RECEIVES CHARITABLE GIFT ANNUITIES WHEN A DONOR CONTRIBUTES ASSETS TO THE COMMUNITY IN EXCHANGE FOR THE COMMUNITY PAYING A FIXED ANNUITY THROUGH THE REMAINDER OF THE DONOR'S LIFETIME. THE COMMUNITY CALCULATES THE PRESENT VALUE OF EXPECTED FUTURE ANNUITY PAYMENTS AND RECORDS A LIABILITY. THE DIFFERENCE BETWEEN THE FAIR VALUE OF THE CHARITABLE GIFT ASSET AND THE PRESENT VALUE OF THE LIABILITY FOR FUTURE ANNUITY PAYMENTS IS RECORDED AS EITHER A RESTRICTED OR UNRESTRICTED CONTRIBUTION, DEPENDING UPON THE DONOR'S SPECIFICATION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S ENDOWMENT FUNDS ARE FOR THE PURPOSE OF PROVIDING CHARITY CARE TO WELL-SPRING RETIREMENT COMMUNITY RESIDENTS AND TO PROVIDE FINANCIAL SUPPORT OF WELL-SPRING RETIREMENT COMMUNITY'S OPERATIONAL EXPENSES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2SERVICES, THE COMMUNITY, ACE AND THE FOUNDATION ARE NONPROFIT ORGANIZATIONS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). SERVICES, THE COMMUNITY, THE FOUNDATION, AND ACE FILE AS TAX-EXEMPT ORGANIZATIONS. SHOULD ANY STATUS BE CHALLENGED IN THE FUTURE, SERVICES, THE COMMUNITY, THE FOUNDATION, AND ACE ARE OPEN FOR EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. MANAGEMENT IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE THE TAX-EXEMPT STATUS OF SERVICES, THE COMMUNITY, THE FOUNDATION OR THE ACE. MANAGEMENT IS NOT AWARE OF ANY SIGNIFICANT ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES FOR SERVICES, THE COMMUNITY OR THE FOUNDATION. SERVICES, THE COMMUNITY, THE FOUNDATION, ACE, AND MANAGEMENT & DEVELOPMENT FOLLOW GUIDANCE ON THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE HAS HAD NO IMPACT ON THE ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3CHANGE IN VALUE OF CHARITABLE GIFT ANNUITIES NET ASSETS RELEASED FROM RESTRICTIONS FOR USE IN OPERATIONS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4DONOR RESTRICTED CONTRIBUTIONS EARNINGS ON PERMANENTLY RESTRICTED NET ASSETS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt5TRANSFER OF NET ASSETS FROM FOUNDATION TO WELL-SPRING
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc5PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.13220
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueProgramRltdAmt011326647
IRS990ScheduleD/TotalLiabilityAmt012121
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0240417
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0BENEVOLENT ASSISTANCE TO RESIDENTS
IRS990ScheduleI/RecipientTable/CashGrantAmt0151558
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0WELL-SPRING RETIREMENT COMMUNITY
IRS990ScheduleI/RecipientTable/RecipientEIN0561497371
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt04100 WELL SPRING DRIVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0GREENSBORO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd027410
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0WELL-SPRING FOUNDATION REQUIRES WELL-SPRING RETIREMENT COMMUNITY TO PROVIDE SUPPORT FOR FUNDS REQUESTED BEFORE FUNDING WILL OCCUR.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt19402
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt116080
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0STEPHEN P FLEMING
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1DON GWYNN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TREASURER
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0384399
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1230530
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE WELL-SPRING RETIREMENT COMMUNITY BOARD OF TRUSTEES ELECTS ALL OF THE WELL-SPRING FOUNDATION DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE WELL-SPRING RETIREMENT COMMUNITY BOARD OF TRUSTEES ELECTS ALL OF THE WELL-SPRING FOUNDATION DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BEFORE THE FILING OF THE INFORMATION TAX RETURN 990 FOR WELL-SPRING FOUNDATION, THE FORM 990 WAS REVIEWED IN DETAIL BY THE TREASURER AND PRESIDENT. EACH MEMBER OF THE WELL-SPRING FOUNDATION'S BOARD OF DIRECTORS WAS PROVIDED WITH A COPY OF WELL-SPRING FOUNDATION'S FORM 990 PRIOR TO FILING OF THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE DIRECTORS SHALL COMPLETE AND RETURN TO THE SECRETARY AN ANNUAL STATEMENT THAT EACH OF THEM: (A) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; (B) HAS READ AND UNDERSTANDS THE POLICY; (C) AGREES TO COMPLY WITH THIS POLICY; (D) UNDERSTANDS THAT THE POLICY APPLIES TO ALL COMMITTEES; AND (E) UNDERSTANDS THAT THE ORGANIZATION IS A CHARITABLE ORGANIZATION AND MUST CONTINUOUSLY ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4WELL-SPRING FOUNDATION HAS NO EMPLOYEES. THE PROCESS FOLLOWED BY WELL-SPRING RETIREMENT COMMUNITY (RELATED ORGANIZATION) IS AS FOLLOWS: IT SHALL BE THE POLICY OF WELL-SPRING RETIREMENT COMMUNITY TO ANNUALLY REVIEW THE PERFORMANCE OF THE PRESIDENT AND CEO UNLESS CIRCUMSTANCES DEMAND MORE FREQUENT REVIEW INTERVALS. THE BOARD OF TRUSTEES SHALL CONDUCT THE PRESIDENT/CEO'S REVIEW; HOWEVER THE BOARD OF TRUSTEES MAY DELEGATE THIS FUNCTION TO ITS COMPENSATION COMMITTEE. PROCEDURES FOR SETTING COMPENSATION: 1) A BOARD OF TRUSTEES COMPENSATION COMMITTEE SHALL BE APPOINTED ANNUALLY BY THE BOARD CHAIR. THE COMMITTEE SHALL BE COMPRISED OF THE CURRENT CHAIR, IMMEDIATE PAST CHAIR, CHAIR ELECT (IF ANY) AND 1-2 TRUSTEES AT LARGE. 2) THE COMMITTEE SHALL MEET APPROXIMATELY THIRTY DAYS PRIOR TO THE END OF THE WELL-SPRING RETIREMENT COMMUNITY'S FISCAL YEAR. 3) PRIOR TO THE MEETING, THE PRESIDENT/CEO SHALL PROVIDE COMPARABLE SALARY AND BENEFIT DATA THROUGH EXTERNAL SOURCES SUCH AS THE AAHSA SALARY AND BENEFIT REPORT, NCANPHA WAGE SURVEY, PUBLIC RECORD IRS FORM 990S, AND INDEPENDENT SURVEYS. 4) PRIOR TO THE MEETING, THE PRESIDENT/CEO SHALL PROVIDE A STATEMENT OF ACHIEVEMENTS COMPARED TO GOALS FOR THE CURRENT YEAR AND A PRELIMINARY LIST OF PERFORMANCE GOALS FOR THE SUCCEEDING YEAR. 5) AT THE MEETING, THE PRESIDENT/CEO SHALL INFORM THE COMMITTEE OF PROPOSED SALARY ADJUSTMENTS FOR SENIOR MANAGEMENT FOR THE SUCCEEDING YEAR. THE PRESIDENT/CEO MAY PRESENT COMPARABLE SALARY DATA FOR SENIOR MANAGEMENT AT THE COMMITTEE'S DISCRETION. 6) AT THE MEETING AND AFTER PRESENTING YEAR-END RESULTS AND SUCCEEDING YEAR GOALS, THE COMMITTEE MAY EXCUSE THE PRESIDENT/CEO, ENTER INTO EXECUTIVE SESSION AND DISCUSS THE PRESIDENT/CEO'S PERFORMANCE AND COMPENSATION. 7) AT THE CONCLUSION OF THE MEETING, THE BOARD OF TRUSTEES' CHAIR SHALL MEET WITH THE PRESIDENT/CEO IN ORDER TO REVIEW THE COMMITTEE'S ASSESSMENT OF PERFORMANCE AND SALARY. SALARY ADJUSTMENTS TO THE PRESIDENT/CEO'S COMPENSATION SHALL BE AUTHORIZED BY SIGNATURE OF THE BOARD CHAIR OR VICE CHAIR ONLY. 8) AT THE FIRST BOARD OF TRUSTEES' MEETING FOLLOWING THE COMPENSATION COMMITTEE'S MEETING, THE BOARD OF TRUSTEES' CHAIR SHALL REPORT THE COMMITTEE'S FINDINGS AND THE COMMITTEE'S ACTION REGARDING EMPLOYMENT STATUS, RECOMMENDATIONS AND SALARY OR BENEFIT ADJUSTMENTS FOR THE PRESIDENT/CEO. EXECUTIVE MANAGERS COMPENSATION PHILOSOPHY OBJECTIVE: THE COMPENSATION COMMITTEE BELIEVES THAT THE PRIMARY OBJECTIVES OF WELL-SPRING'S EXECUTIVE COMPENSATION POLICIES SHOULD BE: 1) TO ATTRACT AND RETAIN TALENTED EXECUTIVES BY PROVIDING COMPENSATION THAT IS, OVERALL, HIGHLY COMPETITIVE WITH THE COMPENSATION PROVIDED TO EXECUTIVES AT COMPANIES OF COMPARABLE POSITION IN THE CONTINUING CARE RETIREMENT COMMUNITY FIELD, WHILE MAINTAINING COMPENSATION WITHIN LEVELS THAT ARE CONSISTENT WITH WELL-SPRING'S ANNUAL BUDGET, FINANCIAL OBJECTIVES, OPERATING PERFORMANCE AND RESIDENT AND STAFF SATISFACTION; AND 2) TO PROVIDE APPROPRIATE INCENTIVES FOR EXECUTIVES TO WORK TOWARD THE ACHIEVEMENT OF WELL-SPRING'S ANNUAL FINANCIAL PERFORMANCE AND BUSINESS GOALS BASED ON WELL-SPRING'S ANNUAL BUDGET. THE COMPENSATION COMMITTEE REVIEWS EXECUTIVE COMPENSATION POLICIES ANNUALLY TAKING INTO CONSIDERATION WELL-SPRING'S FINANCIAL PERFORMANCE, ITS ANNUAL BUDGET, ITS POSITION IN THE INDUSTRY AND WELL-SPRING'S MISSION STATEMENT AND CORE VALUES. THE COMPENSATION COMMITTEE BELIEVES THAT IN ADDITION TO CORPORATE PERFORMANCE, IT IS APPROPRIATE IN SETTING AND REVIEWING EXECUTIVE COMPENSATION TO CONSIDER THE LEVEL OF EXPERIENCE AND RESPONSIBILITIES OF EACH EXECUTIVE OFFICER AS WELL AS THE PERSONAL CONTRIBUTIONS A PARTICULAR INDIVIDUAL MAY MAKE TO THE SUCCESS OF WELL-SPRING RETIREMENT COMMUNITY, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5WELL-SPRING FOUNDATION'S FINANCIAL STATEMENTS ARE CONSOLIDATED WITH THOSE OF WELL-SPRING RETIREMENT COMMUNITY. INCLUDED WITH THE AUDITED FINANCIAL STATEMENTS ARE SCHEDULES, WHICH SHOW STAND-ALONE FIGURES FOR BOTH WELL-SPRING FOUNDATION AND WELL-SPRING RETIREMENT COMMUNITY. THE CONSOLIDATED FINANCIAL STATEMENTS ARE PART OF WELL-SPRING'S ANNUAL DISCLOSURE STATEMENT, WHICH IS FILED WITH THE NC DEPARTMENT OF INSURANCE. THE NC DEPARTMENT OF INSURANCE POSTS ALL DISCLOSURE STATEMENTS ON THEIR WEB SITE. THE CONSOLIDATED FINANCIAL STATEMENTS ARE FILED ANNUALLY WITH THE SEC VIA WWW.DISCLOSUREUSA.ORG. ADDITIONALLY, COPIES OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CHANGE IN VALUE OF CHARITABLE GIFT ANNUITIES 33,096.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OVERSIGHT AND SELECTION PROCESS IS UNCHANGED FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XII, LINE 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00

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
$11,341,533
Liabilities
$262,146
Net assets
$11,079,387
Revenue
$1,446,876
Expenses
$391,975
Net income
$1,054,901
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$10.9$0.07$10.9$1.50$1.73$0.23
2023Detailed filing. Detailed filing data is available for this year.$11.7$0.60$11.1$0.95$1.32$0.38
2022Detailed filing. Detailed filing data is available for this year.$11.3$0.48$10.8$1.31$0.68$0.63
2021Detailed filing. Detailed filing data is available for this year.$13.3$0.50$12.8$2.15$0.53$1.62
2020Detailed filing. Detailed filing data is available for this year.$11.3$0.26$11.1$1.45$0.39$1.05
2019Detailed filing. Detailed filing data is available for this year.$9.66$0.32$9.34$0.63$0.29$0.34
2018Detailed filing. Detailed filing data is available for this year.$8.38$0.30$8.09$0.29$0.33$0.03
2017Detailed filing. Detailed filing data is available for this year.$9.31$0.36$8.95$1.09$0.34$0.75
2016Detailed filing. Detailed filing data is available for this year.$8.53$0.11$8.42$0.55$0.63$0.09
2015Detailed filing. Detailed filing data is available for this year.$8.62$0.27$8.35$0.77$0.65$0.13
2014Detailed filing. Detailed filing data is available for this year.$8.83$0.32$8.51$1.05$0.35$0.69
2013Detailed filing. Detailed filing data is available for this year.$9.12$0.13$8.99$0.28$0.23$0.06
2012Summary only. Only limited summary data is available for this year.$8.42$0.14$8.28$0.98$0.07$0.91
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.31$0.19$7.12$0.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.08$0.22$6.86$0.08