Well-Spring Foundation

Nonprofit profile at a glance

EIN
562217797
IRS 990 coverage
2010–2025
Forms available
Form 990 2025, Form 990-T 2025
Location
Greensboro, NC, USA
Phone
3365455418
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Public Foundations

Reported finances

Revenue
$24,984,519
Expenses
$1,571
Assets
$35,958,884
Liabilities
$110,608

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • STEPHEN P FLEMING (PRESIDENT)

Highest reported compensation

  • STEPHEN P FLEMING (PRESIDENT): $711,026 total reported compensation
  • K ALAN TUTTEROW (TREASURER): $454,699 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

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.

What it reported doing in 2025

Well-spring foundation is organized to serve exclusively as a supporting organization for the benefit of well-spring retirement community by carrying out purposes that are consistent with and that support the purpose of well-spring retirement community.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 89
  • Accountability: 100
  • Sustainability: 87
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 100%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 22,889.17; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 5,024.2%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 1.5% per year; rating input score 100; 15th percentile among comparable filings
  • Revenue growth: 24% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 7.8% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $711K · 9 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 43 of 43 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.