Overview
What is Wellspring Adoption Agency Inc?
Wellspring Adoption Agency Inc, operating under the name Adoption Minnesota, is a nonprofit organization situated in Golden Valley, Minnesota. With a workforce of eight individuals, their primary mission is to provide adoption and support services for both birth and adoptive parents. This encompasses conducting thorough home studies for potential adoptive parents and offering counseling to both birth and adoptive families. In 2022, they were instrumental in 63 adoptions, demonstrating their commitment to facilitating the adoption process. Their services aim to ensure a smooth transition for all parties involved.
Official website here: www.adoption-minnesota.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement, 69%)
Wellspring Adoption Agency Inc has received a Two-Star rating from Charity Navigator, indicating a need for improvement in its organizational practices and financial accountability. The agency scored 69% overall, showing strong points in areas such as independent board membership and financial audits, which received perfect scores. However, the low score of 6 out of 25 points for program expense ratio suggests that a significant portion of its budget may not be allocated directly to its programs.
While the organization maintains a majority of independent board members and has no reported asset diversion issues, it lacks some critical policies and transparency measures. The absence of a whistleblower policy, document retention policy, and missing tax forms on its website indicate areas where the agency could enhance its operational integrity and public trust.
Overall, while Wellspring Adoption Agency Inc demonstrates certain strengths, particularly in governance and financial management, it faces important challenges regarding transparency and program efficiency that need to be addressed to improve its standing and effectiveness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Wellspring Adoption Agency Inc legitimate?
Wellspring Adoption Agency Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wellspring Adoption Agency 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $229,125
For more financial information, click here
Official website here: www.adoption-minnesota.com
What is the mission statement of Wellspring Adoption Agency Inc?
Wellspring Adoption Agency Inc, also known as Adoption Minnesota, is dedicated to offering adoption and support services for both birth parents and adoptive parents. Their mission, in essence, is to facilitate the adoption process and provide necessary assistance to all parties involved. The agency primarily conducts home studies for prospective adopters and offers counseling services to both birth and adoptive parents. In 2022, they were involved in 63 adoptions, demonstrating their commitment to this cause.
Official website here: www.adoption-minnesota.com
Who is the CEO of Wellspring Adoption Agency Inc?
Lynn Ricchio is the Executive Di of Wellspring Adoption Agency Inc.
Official website here: www.adoption-minnesota.com
What is the revenue of Wellspring Adoption Agency Inc?
Wellspring Adoption Agency Inc's revenue in 2022 was $888,633.
Official website here: www.adoption-minnesota.com
Who are the executives of Wellspring Adoption Agency Inc and what are their salaries?
The average compensation at Wellspring Adoption Agency Inc during 2022 was $28,641. There are 8 employees at Wellspring Adoption Agency Inc.
Here are 6 key members and their salaries:
- Compensation: $133,600
- Related: $0
- Other: $0
- Compensation: $103,206
- 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
Official website here: www.adoption-minnesota.com
Where can I find the form 990 for Wellspring Adoption Agency Inc?
Wellspring Adoption Agency Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.adoption-minnesota.com
Learn more at the official website: www.adoption-minnesota.com
Mission Statement of Wellspring Adoption Agency Inc
Wellspring Adoption Agency Inc, also known as Adoption Minnesota, is committed to providing adoption and support services for both birthparents and adoptive parents. Their mission, in essence, is to facilitate the adoption process and offer necessary assistance to both sets of parents. The organization primarily focuses on conducting home studies for prospective adoptive parents and offering counseling services to birth and adoptive parents in relation to the adoption process. In the year 2022, Wellspring Adoption Agency Inc was instrumental in executing 63 adoptions, demonstrating their dedication and effectiveness in carrying out their mission.
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Impact
July, 2024
Wellspring Adoption Agency Inc, operating as Adoption Minnesota, has had a significant impact by providing adoption and support services to both birthparents and adoptive parents. In 2022, the organization conducted services in connection with 63 adoptions. Wellspring primarily focuses on performing homestudies for adoptive parents and offering counseling to both birth and adoptive parents in order to facilitate successful adoptions. Through its work, Wellspring Adoption Agency Inc plays a crucial role in bringing families together and supporting individuals through the adoption process.
This information is meant to be a general summary of Wellspring Adoption Agency 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 2022.
- Investment Income: $724
- Program Service Revenue: $882,426
- Gross Receipts: $888,633
Assets and Liabilities:
- Total Assets: $1,119,743
- Total Liabilities: $0
- Net Assets: $1,119,743
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PACKAGE INCOME
Revenue
$376,555
BIRTH PARENT CONUSELING
Revenue
$198,950
OTHER INCOME
Revenue
$188,326
HOME STUDY
Revenue
$118,595
Organization Details
Founding Year
1989
Phone
(612) 379-0980Principal Officer
Lynn Ricchio
Main Address
8441 WAYZATA BLVD SUITE 220, GOLDEN VALLEY, MN, 55426
Website
www.adoption-minnesota.comNTEE Category
Code: X99Z - Religion related
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