Well-Spring Services INC FY2020 filing

Tax-deductible

Greensboro, NC501(c)(3)Since 2012Foundations & GrantmakersEIN 90-0885759Revenue $2.5M in FY2020

On file with the IRSwell-spring.org5603 New Garden Village Dr, 27410-8595 · Greensboro, NCTax-exempt since Aug 2014Supporting org, Type I — 509(a)(3)

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Well-Spring Services INC. Supports Well-Spring retirement community INC.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2020 · 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
4 of 4
filings with a surplus
Average surplus $3.3M a year · 70% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Named funders
1
named funder · $16K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.5M
Spent
$0
Net assets
$6.9M
By yearFY2020–FY2024
Revenue
$2.5M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$2.5M
FY2022$3.0M
FY2023$5.0M
FY2024$8.3M
Expenses
$0
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$0
FY2022$9K
FY2023$2.7M
FY2024$3.1M
Net assets
$6.9M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$6.9M
FY2022$10.1M
FY2023$64.8M
FY2024$74.0M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2014.

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

Who runs it and what they're paid

17 people listed on the 990.

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice-Chair
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Stephen P Fleming’s $535K as President CEO is at the 100th percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking 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 · 7 named individuals · Part VII

NameFY2024FY2023
Stephen P Fleming$534,571$447,834
K Alan Tutterow$410,135$434,923
Richard Williams$157,481$145,799
Scott Hinshaw$145,065$123,081
Lynn Wooten$143,867$133,331
Jerry Hayes$131,781$112,073
Janet Holbrook$126,686$111,078

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

Provides support for a retirement community.

Provided by the organization

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1 program · in their own filed words · FY2020
01

The organization provides support services to well-spring retirement community.

Pt IX · col B

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 · FY2023
Total grants receivedfrom 1 funder$16K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$2.5M
Ln 12
Other incomeLn 4–11$2.4M
Gifts and grantsLn 1h$100K
Investment incomeLn 3$51K
Money outPt IX
$0
Ln 25
Owns and owesPt X
$6.9M
net assets · Ln 32
Cash and savingsLn 1–2$368K
Total assetsLn 16$6.9M
LiabilitiesLn 26$0
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$100K
Investment incomeLn 3$51K
Other incomeLn 4–11$2.4M
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$368K
Cash and savings togetherLn 1–2$368K
InvestmentsLn 11–13$753K
Land, buildings, equipmentLn 10c$42K
Other assetsLn 15$4.7M
Total assetsLn 16$6.9M
LiabilitiesLn 26$0
Net assetsLn 32$6.9M
OperationsPt I, VI
EmployeesI 518
VolunteersI 60
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 FY20End FY20
Cash and savingsLn 1–2$617K$368K
InvestmentsLn 11–13$753K
Land, buildings, equipmentLn 10c$61K$42K
Total assetsLn 16$4.4M$6.9M
LiabilitiesLn 26$0$0
Net assetsLn 32$4.4M$6.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Total functional expensesLn 25$0$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $8.3M$3.1M$5.3M$74.0M 990 PDF
FY2023 $5.0M$2.7M$2.4M$64.8M 990 PDF
FY2022 $3.0M$9K$3.0M$10.1M 990 PDF
FY2021 Not on file
FY2020 Viewing $2.5M$0$2.5M$6.9M 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 FY2020 990 (6 parts)
Part I · Summary $2,502,029 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $100,000$100,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $65,837$51,327
I-11 Other revenuePrior year $952,081$2,350,702
I-12 Total revenuePrior year $1,117,918$2,502,029
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $0$0
I-18 Total expensesPrior year $0$0
I-19 Revenue less expensesPrior year $1,117,918$2,502,029
Part VI · Governance 14 of 14 board members independent, no flags
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,502,029 across 5 lines filed
VIII-1d Related organizations$100,000
VIII-1h Total contributions, gifts and grants$100,000
VIII-3 Investment incomeExcluded from tax $51,327$51,327
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $2,350,702$2,350,702
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,402,029$2,502,029
Part IX · Statement of functional expenses $0 across 0 lines filed
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$0
Part X · Balance sheet $6,928,103 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $617,023$367,597
X-4 Accounts receivableStart of year $1,064,954$1,063,723
X-10c Land, buildings and equipment, netStart of year $60,935$42,034
X-11 Publicly traded securities$753,296
X-15 Other assetsStart of year $2,683,162$4,701,453
X-16 Total assetsStart of year $4,426,074$6,928,103
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $4,426,074$6,928,103
X-32 Total net assets or fund balancesStart of year $4,426,074$6,928,103
X-33 Total liabilities and net assetsStart of year $4,426,074$6,928,103
Part XI · Reconciliation of net assets $6,928,103 net assets at year end
XI-1 Total revenue$2,502,029
XI-2 Total expenses$0
XI-3 Revenue less expenses$2,502,029
XI-4 Net assets at start of year$4,426,074
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,928,103

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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