Wellspan Properties INC FY2022 filing

Tax-deductible

York, PA501(c)(3)Since 1987HousingEIN 22-2842252Revenue $20.5M in FY2022

On file with the IRSwellspan.orgPo Box 2767, 17405-2767 · York, PATax-exempt since Mar 1988Publicly supported — 509(a)(2)

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The purpose of Wellspan Properties is to develop medical centers and lease to tax-exempt affiliates.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990-TIndependent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990-T
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $2.2M a year · 11% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$149.8M
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 5 voting members
Concern: none of 5 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$20.5M
+7% vs prior year
Spent
$16.0M
To programs
97%
Net assets
$30.9M
By yearFY2020–FY2024
Revenue
$20.5M
FY2022▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$17.7M
FY2021$19.2M
FY2022$20.5M
FY2023$27.0M
FY2024$18.8M
FY2024$17.1M
Expenses
$16.0M
FY2022▼ -12%
Tap a bar for its year
Expenses by fiscal year
FY2020$15.3M
FY2021$18.2M
FY2022$16.0M
FY2023$24.8M
FY2024$17.9M
FY2024$17.4M
Net assets
$30.9M
FY2022▲ +26%
Tap a bar for its year
Net assets by fiscal year
FY2020$18.0M
FY2021$24.5M
FY2022$30.9M
FY2023$31.9M
FY2024$34.9M
FY2024$34.7M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1988.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $15.5M Management & general 3% · $466K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990-T.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
Executive VP & CFO - Wellspan Health
$0Pt VII · Sec A
Director (departed 12/21)
$0Pt VII · Sec A
President & CEO - Wellspan Health
$0Pt VII · Sec A
$0Pt VII · Sec A
Former Director
$0Pt VII · Sec A
See Wellspan Properties INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Develops medical centers and leases them to tax-exempt affiliates.

Provided by the organization

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1 program · $15.5M · in their own filed words · FY2021
01

Wellspan properties, inc. ("WP") is a charitable corporation that supports a parent company, wellspan health ("WSH"), and related companies, collectively a health care delivery system, in york, adams, lancaster and surrounding counties.

$15.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2022 990-T, line by line.

1The main four
Money in
$20.5M
Fees for services$20.4M
Investment income$117K
Other income$14
Money out
$16.0M
Programs$15.5M
Management$466K
Owns and owes
$30.9M
net assets
Cash and savings$6.6M
Total assets$180.7M
Liabilities$149.8M
People
7
listed
Paid0
Voting board5
Independent0
2In more detail
Revenue in detail
Fees for services$20.4M
Investment income$117K
Other income$14
Total revenue$20.5M
Assets in detailEnd of year
Cash and savings together$6.6M
Total assets$180.7M
Liabilities$149.8M
Net assets$30.9M
Operations
Employees0
Volunteers0
Fiscal year endsJune
Conflict-of-interest policyYes
Whistleblower policyYes
Records policyYes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $18.8M$17.9M$842K$34.9M 990 PDF
FY2023 $27.0M$24.8M$2.2M$31.9M 990 PDF
FY2022 Viewing $20.5M$16.0M$4.6M$30.9M 990 PDF
FY2021 $19.2M$18.2M$1.0M$24.5M 990 PDF
FY2020 $17.7M$15.3M$2.3M$18.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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