Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1987.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
90 cents of each dollar spent went to programs.
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
24 people listed on the 990; $648K paid to officers and key staff.
Misti Ridenour’s $236K as Executive Director is at the 59th percentile of top reported officer pay among 3122 $10–100M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2020 |
|---|---|---|---|---|
| Misti Ridenour | $236,213 | $218,836 | $196,300 | $152,923 |
| Michael Jones | $171,264 | $145,664 | — | — |
| George Galvin | — | — | $101,235 | $147,941 |
| Todd Dumke | $141,889 | $130,916 | — | — |
| Susan Suek | $140,490 | $136,821 | $115,331 | — |
| Alison Munroe- Lyles | — | — | — | $134,780 |
| Philip Johnson | $126,277 | $127,950 | $116,366 | $104,339 |
| Janet Holbrook | — | — | $126,406 | $108,177 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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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 15aYes
Programs and updates
Operates a continuing care retirement community in North Carolina, providing comprehensive housing, healthcare, and support services for older adults.
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Well-spring retirement community, inc ("well-spring"), a north carolina nonprofit corporation, was organized for the purpose of operating a continuing care retirement community. Well-spring is governed by a board of trustees composed of civic leaders, currently consisting of 17 individuals, who serve without compensation for staggered…
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $3.2M | $2.7M |
| InvestmentsLn 11–13 | $29.2M | $35.8M |
| Land, buildings, equipmentLn 10c | $74.4M | $73.3M |
| Total assetsLn 16 | $118.1M | $121.9M |
| LiabilitiesLn 26 | $84.5M | $85.5M |
| Net assetsLn 32 | $33.6M | $36.4M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $913K | $913K | ||
| Other salaries and wagesLn 7 | $11.1M | $9.5M | $1.6M | |
| Pension plan contributionsLn 8 | $167K | $143K | $24K | |
| Other employee benefitsLn 9 | $1.7M | $1.4M | $238K | |
| Payroll taxesLn 10 | $942K | $808K | $134K | |
| Management feesLn 11a | $852K | $813K | $39K | |
| Legal feesLn 11b | $57K | $57K | ||
| Accounting feesLn 11c | $95K | $95K | ||
| Lobbying feesLn 11d | $4K | $4K | ||
| Other fees for servicesLn 11g | $1.7M | $1.7M | ||
| Advertising and promotionLn 12 | $173K | $24K | $149K | |
| Office expensesLn 13 | $1.3M | $1.2M | $10K | |
| OccupancyLn 16 | $1.1M | $1.1M | $9K | |
| TravelLn 17 | $6K | $5K | $819 | |
| Conferences, conventions and meetingsLn 19 | $20K | $17K | $3K | |
| InterestLn 20 | $1.0M | $1.0M | ||
| Depreciation, depletion and amortizationLn 22 | $6.6M | $6.5M | $53K | |
| InsuranceLn 23 | $284K | $281K | $2K | |
| Other expenses (24a–d)Ln 24 | $3.2M | $3.2M | ||
| All other expensesLn 24e | $35K | $35K | ||
| Total functional expensesLn 25 | $31.2M | $28.0M | $3.2M | $39K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $43.0M | $41.4M | $1.6M | $45.6M | 990 PDF |
| FY2023 | $39.9M | $41.1M | −$1.2M | $42.1M | 990 PDF |
| FY2022 | $36.7M | $36.9M | −$221K | $38.8M | 990 PDF |
| FY2021 | Not on file | ||||
| FY2020 Viewing | $33.2M | $31.2M | $2.0M | $36.4M | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $33,222,208 across 8 lines filed
Part IX · Statement of functional expenses $31,177,091 across 20 lines filed
Part X · Balance sheet $121,871,576 assets, 18 lines filed
Part XI · Reconciliation of net assets $36,406,700 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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