Well-spring Services Inc

Nonprofit profile at a glance

EIN
900885759
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-EZ 2013
Location
Greensboro, NC, USA
Phone
3365455421
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$8,319,572
Expenses
$3,062,428
Assets
$76,033,764
Liabilities
$2,049,151

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

32 people listed

Executive titles in this filing

  • STEPHEN P FLEMING (PRESIDENT CEO)

Highest reported compensation

  • STEPHEN P FLEMING (PRESIDENT CEO): $583,772 total reported compensation
  • K ALAN TUTTEROW (SECRETARY CFO): $447,875 total reported compensation
  • RICHARD WILLIAMS (VP OF HUMAN RESOURCES): $192,901 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Well-spring services inc. The corporation was created for the purpose of supporting well-spring retirement community inc. The retirement community which is tax-exempt pursuant to internal revenue code the code sections 501c3 and 509a1.

What it reported doing in 2024

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

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 81% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - 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 reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 88
  • Accountability: 100
  • Sustainability: 83
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.1%; rating input score 37
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 63.2%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 24.83; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 60.3%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 44% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 25.7% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 36.5% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 37.1% of revenue deployed · 100% of spending went to programs
  • Governance: 25 of 25 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $3.1M in reported program spending
  • Leadership: top reported pay $584K · 32 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $226K reported
  • Consistency: 42 of 42 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 37/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.