Wellspire LLC FY2022 filing

Tax-deductible

Johnston, IA501(c)(3)Since 2019EIN 83-3724025

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Guided by christian compassion, Wellspire supports the independence, health, and well-being of older adults wherever they call home.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
$2.6M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: 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
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 3
filings with a surplus
Average deficit $3.1M a year · 11% of revenue · last 3 filings
Concern: a surplus in 0 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.6M
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $223K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$78.8M
85% of total assets
Concern: liabilities are 85% 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
$21.3M
Spent
$25.6M
To programs
89%
Net assets
$14.3M
By yearFY2022–FY2024
Revenue
$21.3M
FY2022
Revenue by fiscal year
FY2022$21.3M
FY2023$28.6M
FY2024$31.6M
Expenses
$25.6M
FY2022
Expenses by fiscal year
FY2022$25.6M
FY2023$32.6M
FY2024$32.4M
Net assets
$14.3M
FY2022
Net assets by fiscal year
FY2022$14.3M
FY2023$10.4M
FY2024$9.7M

From the FY2022 Form 990 · 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 Apr 2023.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $22.7M Management & general 11% · $2.9M Fundraising 0% · $262

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

9 people listed on the 990; $2.6M paid to officers and key staff.

Part VII, Section A · reportable compensation
Board Manager
$941,083Pt VII · Sec A
Board Manager
$710,113Pt VII · Sec A
Board Manager
$417,538Pt VII · Sec A
The Summit Executive Director
$141,476Pt VII · Sec A
Board Manager
$123,166Pt VII · Sec A
Fieldstone Executive Director
$114,569Pt VII · Sec A
Illini Restorative Care Executive Director
$105,257Pt VII · Sec A
Vice Chair
$46,490Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022
Douglas Cropper——$941,083
Kurt Andersen——$710,113
Joseph Malas——$417,538
Michelle Linderman——$141,476
Chelsey Killean - Fieldstone$130,078——
Rob Kretzinger——$123,166
Chelsey Killean—$120,070$114,569
Jennifer Dunk—$107,576$105,257

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

Supports older adults' independence, health, and well-being with Christian compassion.

Provided by the organization

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1 program service account for $22.7M of program spending, described in the organization's own filed words · FY2022.
01

The partnership of wesleylife and genesis health system, both non-profit organizations and market leaders, strengthens a common mission to pave the way for older adults in the quad cities of iowa and illinois to lead healthy, fulfilling lives that focus on health and well-being.

$22.7Mprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$223K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$21.3M
Ln 12
Fees for servicesLn 2g$20.0M
Gifts and grantsLn 1h$1.1M
Investment incomeLn 3$148K
Money outPt IX
$25.6M
Ln 25
Programscol B$22.7M
Managementcol C$2.9M
Fundraisingcol D$262
Owns and owesPt X
$14.3M
net assets · Ln 32
Cash and savingsLn 1–2$4.5M
Total assetsLn 16$93.0M
LiabilitiesLn 26$78.8M
PeoplePt VI, VII
9
listed · VII A
PaidVII A9
Voting boardVI 1a5
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Noncash giftsLn 1g$70K
Fees for servicesLn 2g$20.0M
Investment incomeLn 3$148K
Gains on assetsLn 7$26K
Total revenueLn 12$21.3M
Assets in detailPt X, end of year
CashLn 1$2.4M
SavingsLn 2$2.1M
Cash and savings togetherLn 1–2$4.5M
InvestmentsLn 11–13$3.7M
Land, buildings, equipmentLn 10c$80.7M
Other assetsLn 15$65K
Total assetsLn 16$93.0M
LiabilitiesLn 26$78.8M
Net assetsLn 32$14.3M
OperationsPt I, VI
EmployeesI 5492
VolunteersI 632
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$5.1M$4.5M
InvestmentsLn 11–13$4.4M$3.7M
Land, buildings, equipmentLn 10c$69.8M$80.7M
Total assetsLn 16$82.6M$93.0M
LiabilitiesLn 26$63.2M$78.8M
Net assetsLn 32$19.4M$14.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$5K$5K
Pay of current officers, directors and key staffLn 5$2.4M$2.1M$336K
Other salaries and wagesLn 7$9.7M$8.3M$1.4M
Other employee benefitsLn 9$480K$418K$61K
Payroll taxesLn 10$830K$742K$88K
Management feesLn 11a$895K$895K
Legal feesLn 11b$156$156
Investment management feesLn 11f$2K$2K
Other fees for servicesLn 11g$1.6M$1.5M$91K
Advertising and promotionLn 12$211K$7K$204K$262
Office expensesLn 13$77K$7K$71K
Information technologyLn 14$417K$189K$228K
OccupancyLn 16$1.3M$1.3M$41K
TravelLn 17$70K$42K$28K
Conferences, conventions and meetingsLn 19$529$529
InterestLn 20$1.7M$1.7M$8K
Depreciation, depletion and amortizationLn 22$2.4M$2.4M
InsuranceLn 23$558K$558K
Other expenses (24a–d)Ln 24$2.8M$2.5M$267K
All other expensesLn 24e$169K$114K$54K
Total functional expensesLn 25$25.6M$22.7M$2.9M$262

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $31.6M$32.4M−$875K$9.7M 990 PDF
FY2023 $28.6M$32.6M−$4.0M$10.4M 990 PDF
FY2022 Viewing $21.3M$25.6M−$4.3M$14.3M 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
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $21,274,414 across 7 lines filed
VIII-1f All other contributions, gifts and grants$1,143,512
VIII-1g Noncash contributions (included above)$70,350
VIII-1h Total contributions, gifts and grants$1,143,512
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $19,983,341$19,983,341
VIII-3 Investment incomeExcluded from tax $121,490$121,490
VIII-7 Net gain or loss on sales of assetsExcluded from tax $26,071$26,071
VIII-12 Total revenueRelated to mission $19,983,341 · Unrelated business $0 · Excluded from tax $147,561$21,274,414
Part IX · Statement of functional expenses $25,596,980 across 20 lines filed
IX-1 Grants to domestic organizationsPrograms $4,906$4,906
IX-5 Pay of current officers, directors and key staffPrograms $2,065,279 · Management $336,209$2,401,488
IX-7 Other salaries and wagesPrograms $8,283,881 · Management $1,373,767$9,657,648
IX-9 Other employee benefitsPrograms $418,308 · Management $61,448$479,756
IX-10 Payroll taxesPrograms $741,697 · Management $88,399$830,096
IX-11a Management feesPrograms $895,187$895,187
IX-11b Legal feesManagement $156$156
IX-11f Investment management feesPrograms $1,736$1,736
IX-11g Other fees for servicesPrograms $1,503,122 · Management $90,986$1,594,108
IX-12 Advertising and promotionPrograms $6,536 · Management $203,776 · Fundraising $262$210,574
IX-13 Office expensesPrograms $6,802 · Management $70,505$77,307
IX-14 Information technologyPrograms $188,541 · Management $228,279$416,820
IX-16 OccupancyPrograms $1,307,131 · Management $41,229$1,348,360
IX-17 TravelPrograms $41,582 · Management $28,068$69,650
IX-19 Conferences, conventions and meetingsManagement $529$529
IX-20 InterestPrograms $1,722,216 · Management $7,952$1,730,168
IX-22 Depreciation, depletion and amortizationPrograms $2,401,064$2,401,064
IX-23 InsurancePrograms $557,877$557,877
IX-24 Other expenses (24a–d)Programs $2,484,205 · Management $266,759$2,750,964
IX-24e All other expensesPrograms $114,097 · Management $54,489$168,586
IX-25 Total functional expensesPrograms $22,744,167 · Management $2,852,551 · Fundraising $262$25,596,980
Part X · Balance sheet $93,044,438 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $4,812,003$2,376,721
X-2 Savings and temporary cash investmentsStart of year $309,043$2,122,883
X-3 Pledges and grants receivableStart of year $1,412,986$996,673
X-4 Accounts receivableStart of year $1,710,788$2,816,605
X-8 Inventories for sale or useStart of year $0$61,342
X-9 Prepaid expenses and deferred chargesStart of year $199,942$205,527
X-10c Land, buildings and equipment, netStart of year $69,773,399$80,690,896
X-11 Publicly traded securitiesStart of year $4,344,571$3,694,620
X-13 Program-related investmentsStart of year $30,353$13,940
X-15 Other assetsStart of year $0$65,231
X-16 Total assetsStart of year $82,593,085$93,044,438
X-17 Accounts payable and accrued expensesStart of year $2,137,547$2,792,874
X-19 Deferred revenueStart of year $2,774,561$5,736,864
X-20 Tax-exempt bond liabilitiesStart of year $49,940,061$63,786,969
X-25 Other liabilitiesStart of year $8,340,308$6,441,557
X-26 Total liabilitiesStart of year $63,192,477$78,758,264
X-27 Net assets without donor restrictionsStart of year $15,177,858$14,157,937
X-28 Net assets with donor restrictionsStart of year $4,222,750$128,237
X-32 Total net assets or fund balancesStart of year $19,400,608$14,286,174
X-33 Total liabilities and net assetsStart of year $82,593,085$93,044,438
Part XI · Reconciliation of net assets $14,286,174 net assets at year end
XI-1 Total revenue$21,274,414
XI-2 Total expenses$25,596,980
XI-3 Revenue less expenses−$4,322,566
XI-4 Net assets at start of year$19,400,608
XI-5 Net unrealized gains (losses) on investments−$789,899
XI-9 Other changes in net assets−$1,969
XI-10 Net assets at end of year$14,286,174

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

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