Adoption Minnesota

Legal name: Wellspring Adoption Agency Inc

Nonprofit profile at a glance

EIN
411712804
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Golden Valley, MN, US
Phone
612-333-0593
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Religion Related N.E.C.
Affiliation
Religious (unspecified)

Official website

Reported finances

Revenue
$827,162
Expenses
$796,822
Assets
$1,156,100
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • CARNEN SWENSON (PRESIDENT)

Highest reported compensation

  • LYNN RICCHIO (EXECUTIVE DI): $125,060 total reported compensation
  • AMANDA WARNER (ASSOCIATE DI): $93,920 total reported compensation

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

Overview

Mission

Wellspring Adoption Agency Inc. (doing business as Adoption Minnesota) provides licensed, nonprofit adoption services, including birth parent counseling, adoptive parent home studies, and placement coordination, serving expectant parents, adoptive families, and children in Minnesota.

What it reported doing in 2024

Wellspring provides adoption support services to adoptive and birth parents. Wellspring primarily performs homestudies of adoptive parents and counsels birth and adoptive parents. The organization performed these services in connecction with 52 adoptions in 2024.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 90
  • Accountability: 72
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57%; rating input score 57
  • Program expense ratio: 58.9%; rating input score 59
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 18th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.7%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 1.45; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 27.5%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 44th percentile among comparable filings

Details

  • What they do: 6 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 57% of revenue deployed · 58.9% of spending went to programs
  • Governance: 4 of 5 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $469K in reported program spending
  • Leadership: top reported pay $125K · 6 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.