Wellspring Inc
Nonprofit profile at a glance
- EIN
- 311020023
- IRS 990 coverage
- 2016–2024
- Forms available
- Form 990 2024
- Location
- Louisville, KY, USA
- Phone
- 5026374361
- Rating
- 90
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $7,627,989
- Expenses
- $8,032,309
- Assets
- $16,711,544
- Liabilities
- $12,774,956
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- KATHARINE R DOBBINS (CEO)
Highest reported compensation
- KATHARINE R DOBBINS (CEO): $149,873 total reported compensation
- JOHN ALEXANDER (CFO): $126,110 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 promotes mental health recovery and supports individuals in building healthy and hopeful lives through behavioral health, housing, and employment services.
What it reported doing in 2024
Wellspring operates two carf accredited crisis units for adults inpsychiatric crisis. The program offers a comfortable, community-based and cost effective alternative to inpatient hospitalization for adults who need an intensive level of support but do not require the locked down safety of an inpatient hospital. These crisis stabiliazation units(csus) are licensed by the commonwealth of ky and monitored by the office of the inspector general to meet quality standards. The programs provide 24-hour staff support with a multi-disciplinary team approach, including on site services from a psychiatrist, aprn, clinical social workers, art therapists and psych rehab counselors. The programs can accommodate a maximum of 18 people on any given day and served 324 people in fiscal year 2025. The programs work closely with the psychiatric emergency room, hospitals, outpatient providers, families, and other community resources for referrals, diverting 90% from hospitals. In 2023, our accredition was extended for another three-year term.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 90
- Transparency & Controls: 92
- Accountability: 100
- Sustainability: 37
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 94.7%; rating input score 95
- Program expense ratio: 89.9%; rating input score 90
- Fundraising efficiency: $22.32 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings
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: Yes; rating input score 100
- 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: -5.3%; rating input score 20; 20th percentile among comparable filings
- Total-asset coverage ratio: 2.08; rating input score 63; 63rd percentile among comparable filings
- Liabilities to assets ratio: 0.76; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 3.4%; rating input score 66; 66th percentile among comparable filings
Growth
- Program expense growth: 7.2% per year; rating input score 100; 51st percentile among comparable filings
- Revenue growth: 7.3% per year; rating input score 100; 56th percentile among comparable filings
- Asset growth: 22.3% per year; rating input score 100; 87th percentile among comparable filings
Details
- Where the money goes: 94.7% of revenue deployed · 89.9% of spending went to programs
- Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $7.2M in reported program spending
- Leadership: top reported pay $150K · 18 people listed
- Consistency: 32 of 32 current checks pass
- Schedules: 6 filed schedules · includes major donors
- Filing history: 9 filing years from 2016 to 2024
- Contacts: How to reach this organization
- Money network: 2 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.
- High — Sustainability: Operating margin scored 20/100.
- High — Sustainability: Liabilities to assets ratio scored 11/100.