Overview
What is Wellspring House Inc?
Wellspring House Inc, situated in Gloucester, Massachusetts, is a nonprofit organization dedicated to supporting families and individuals who are at risk of or currently experiencing homelessness. Through its shelter program and case management services, Wellspring House provides a safe space and assistance to families who find market-rate rents unaffordable. The organization's mission goes beyond shelter, aiming to inspire its clients to attain employment and financial stability. This is achieved through education, job training, and career readiness programs. With a team of 46 dedicated individuals, Wellspring House on the North Shore is committed to empowering families and adults to achieve a more secure future.
Official website here: www.wellspringhouse.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 80% (Three-Star out of Four Star rating)
Wellspring House Inc has earned a solid Three-Star rating from Charity Navigator, reflecting a commendable level of accountability and financial management. With a high score of 96 in Accountability & Finance, the organization demonstrates strong governance practices, including a fully independent board and rigorous financial oversight. Notably, there have been no material diversions of assets, and the charity maintains a healthy liabilities to assets ratio of 10.88%.
Despite these strengths, the organization received a lower score of 65 in Impact & Measurement, indicating potential room for improvement in evaluating and demonstrating the effectiveness of its programs. However, its efforts in feedback collection and utilization are exemplary, scoring a perfect 100. This suggests that Wellspring House Inc is committed to understanding the needs of its community and adjusting its strategies accordingly.
Overall, while Wellspring House Inc shows robust financial health and strong governance policies, enhancing its impact measurement practices could further bolster its efficacy in serving its mission. The organization’s dedication to transparency and feedback signifies a positive approach to continuous improvement in its community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Wellspring House Inc legitimate?
Wellspring House Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wellspring House Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $118,046
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,553,596
For more financial information, click here
Official website here: www.wellspringhouse.org
What is the mission statement of Wellspring House Inc?
Wellspring House Inc's mission is centered around inspiring families and adults towards financial stability and employment. They achieve this goal through a variety of means, including providing stable housing, education, job training, and career readiness programs. The organization aims to help individuals who are struggling financially, often due to high market rate rents that exceed their means, by offering shelter and homelessness prevention assistance. Wellspring House Inc's mission is to empower these individuals, enabling them to secure employment and improve their financial situation.
Official website here: www.wellspringhouse.org
Who is the CEO of Wellspring House Inc?
Pete Michaels is the Treasurer of Wellspring House Inc.
Official website here: www.wellspringhouse.org
What is the revenue of Wellspring House Inc?
Wellspring House Inc's revenue in 2023 was $2,987,734.
Official website here: www.wellspringhouse.org
Who are the executives of Wellspring House Inc and what are their salaries?
The average compensation at Wellspring House Inc during 2023 was $36,340. There are 46 employees and 46 volunteers at Wellspring House Inc.
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Official website here: www.wellspringhouse.org
Where can I find the form 990 for Wellspring House Inc?
Wellspring House Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.wellspringhouse.org
Learn more at the official website: www.wellspringhouse.org
Mission Statement of Wellspring House Inc
Wellspring House Inc, a nonprofit organization, inspires families and adults on the North Shore to attain employment and financial stability. They achieve this goal by providing stable housing, education, job training, and career readiness. The mission of Wellspring House Inc is to empower these individuals, enabling them to overcome challenges and secure their financial future.
Wellspring House Inc offers a shelter program and related case management services for homeless families or those at risk of becoming homeless. Families require these services because market-rate rents exceed their means. By offering shelter and homelessness prevention assistance, Wellspring House Inc helps families maintain their housing stability and avoid the hardships associated with homelessness. The organization's mission is a testament to its commitment to supporting families and adults in need, providing them with the tools and resources necessary to achieve long-term financial security.
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Impact
July, 2024
Wellspring House Inc's impact can be seen in how it inspires families and adults on the North Shore to achieve employment and financial security through stable housing, education, job training, and career readiness. The organization provides a family shelter and homelessness prevention program that offers shelter and case management services for homeless families or those at serious risk of homelessness. By addressing the critical need for affordable housing and offering support services, Wellspring House Inc plays a vital role in helping families on the North Shore secure stability and work towards a brighter future.
This information is meant to be a general summary of Wellspring House Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $99,535
- Program Service Revenue: $1,443,983
- Gross Receipts: $3,452,745
Assets and Liabilities:
- Total Assets: $3,410,540
- Total Liabilities: $371,138
- Net Assets: $3,039,402
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$137,730
CONTRACTED SERVICES
Revenue
$129,834
GOVERNMENT AGENCIES
Revenue
$1,176,419
Organization Details
Founding Year
1981
Phone
(978) 281-3558Principal Officer
Pete Michaels
Main Address
302 ESSEX AVENUE, GLOUCESTER, MA, 019302351
Website
www.wellspringhouse.orgNTEE Category
Code: P430 - Human services
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