Overview
What is Wellspring Foundation Of Southwest Virginia?
The Wellspring Foundation of Southwest Virginia is a nonprofit organization based in Abingdon, Virginia. Established for charitable and educational purposes, the Foundation focuses on addressing the healthcare, wellness, economic, and educational needs within the communities it serves. By managing and administering assets specifically for these causes, the organization seeks to make a significant impact both directly and indirectly, through contributions to other organizations. With a team of three dedicated individuals, the Wellspring Foundation of Southwest Virginia is committed to enhancing the quality of life for people in Southwest Virginia.
What are the reviews and ratings of this charity?
The Wellspring Foundation of Southwest Virginia is currently not rated by Charity Navigator as it lacks sufficient data to calculate specific beacon scores, such as Accountability & Finance, or Impact & Measurement. The absence of a rating is neutral, merely indicating that the organization has not been evaluated yet. Charity Navigator requires at least three years of financial data to provide a reliable evaluation, but Wellspring Foundation has only two years of electronically filed IRS Form 990 data.
Despite the lack of a full evaluation, available data shows that the foundation operates independently and is a supporting entity for other organizations under the 509(a)(3) foundation code. Financials provide insight into its leadership structure, noting the executive director's yearly salary as $135,000, while other board members do not receive compensation. This aligns with practices where non-executive board members typically volunteer their services.
The foundation does not have available data concerning its impact, leadership adaptability, or community engagement practices, resulting in an unscored status for these metrics. This gap in constituent feedback and strategic innovations is not uncommon among newer or smaller nonprofits and does not immediately imply inefficiency or dysfunction. Efforts to expand their transparency and data reporting could enhance their evaluability in the future. No user reviews are available from GreatNonprofits for additional context.
This AI summary has been generated from information found on Charity Navigator.
Is Wellspring Foundation Of Southwest Virginia legitimate?
Wellspring Foundation Of Southwest Virginia is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wellspring Foundation Of Southwest Virginia 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: $135,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $28,080
For more financial information, click here
What is the mission statement of Wellspring Foundation Of Southwest Virginia?
The Wellspring Foundation of Southwest Virginia is a charitable organization with a mission to use its assets exclusively for charitable and educational purposes. This includes addressing the recognized and unmet healthcare, wellness, economic, and educational needs within the communities it serves. The foundation aims to make a difference directly or by contributing to other organizations, using both income and principal for these purposes.
Who is the CEO of Wellspring Foundation Of Southwest Virginia?
William Hayter is the Executive Di of Wellspring Foundation Of Southwest Virginia.
What is the revenue of Wellspring Foundation Of Southwest Virginia?
Wellspring Foundation Of Southwest Virginia's revenue in 2022 was $112,913,191.
Who are the executives of Wellspring Foundation Of Southwest Virginia and what are their salaries?
The average compensation at Wellspring Foundation Of Southwest Virginia during 2022 was $54,360. There are 3 employees at Wellspring Foundation Of Southwest Virginia.
Here are 12 key members and their salaries:
- Compensation: $135,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Wellspring Foundation Of Southwest Virginia?
Wellspring Foundation Of Southwest Virginia's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Wellspring Foundation Of Southwest Virginia
Wellspring Foundation of Southwest Virginia is a charitable organization with a mission to receive, maintain, and administer assets exclusively for the benefit of communities in need, particularly in areas of recognizable and unmet healthcare, wellness, economic, and educational requirements. The organization is dedicated to using its income and principal to support these causes directly or indirectly through contributions to other organizations.
In simple terms, the Wellspring Foundation of Southwest Virginia is committed to making a difference in the lives of those who are facing challenges in various aspects of their lives. By focusing on the healthcare, wellness, economic, and educational needs of the communities it serves, the organization aims to improve living conditions and create opportunities for individuals to thrive. Through the use of its financial resources, the Wellspring Foundation is able to make a significant impact, whether by providing direct assistance or by partnering with other organizations to amplify its reach. Ultimately, the foundation's goal is to enhance the overall wellbeing of the communities it serves and contribute to a better future for all.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Wellspring Foundation of Southwest Virginia significantly impacts the community by addressing unmet healthcare, wellness, economic, and educational needs. By providing funding to healthcare organizations throughout Southwest Virginia, it enhances access to essential services and improves overall community health. The foundation focuses on recognizing specific local challenges and strategically allocates resources to tackle them, ensuring that the income generated and maintained is used effectively to support these vital sectors. Its commitment to both charitable and educational purposes plays a crucial role in fostering healthier, more informed communities, ultimately contributing to improved well-being for residents across the region.
This information is meant to be a general summary of Wellspring Foundation Of Southwest Virginia. 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 2022.
- Investment Income: $471,468
- Gross Receipts: $112,913,191
Assets and Liabilities:
- Total Assets: $112,449,531
- Total Liabilities: $0
- Net Assets: $112,449,531
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2021
Principal Officer
William Hayter
Main Address
851 FRENCH MOORE JR BLVD STE 100, ABINGDON, VA, 24210
NTEE Category
Code: E112 - Health
If you are a representative of Wellspring Foundation Of Southwest Virginia and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.