Overview
What is Wellspring Cooperative Corporation?
Wellspring Cooperative Corporation is a nonprofit organization situated in Indian Orchard, Massachusetts. Their mission is to foster an equitable, democratic, and sustainable economy by establishing a network of worker-owned businesses, particularly in historically underserved communities within the Greater Springfield region. In 2021, they supported the formation of three new cooperative businesses and assisted 11 emerging cooperatives. They also participated in a national childcare collaboration and training. In addition to their business development efforts, Wellspring communicates their cooperative mission and programs to both internal and external communities through newsletters, social media, and public events. They engage with the local community by organizing the Grow Indian Orchard Network, which carries out community improvement programs, including leadership in the redevelopment of the Indian Orchard Fire Station, and managing the Go Fresh Mobile Market to address food access needs across Springfield. Wellspring Cooperative Corporation currently employs a total of 5 individuals.
Official website here: www.wellspringcoop.org
What do the Facebook reviews say about Wellspring Cooperative Corporation?
Wellspring Cooperative Corporation has begun to gather support on Facebook, with early reviews highlighting its positive impact on the community. The organization is praised for producing high-quality, pesticide-free lettuce while also generating local employment opportunities. One enthusiastic supporter emphasized the environmental benefits of sourcing lettuce locally, advocating against the carbon footprint associated with transporting produce from far away.
Overall, the sentiment surrounding Wellspring Cooperative Corporation is quite favorable, especially regarding its commitment to sustainable practices and community engagement. The emphasis on quality and local job creation resonates well with those who value environmentally friendly solutions and local economies. As more reviews accumulate, it will be interesting to see the further development of community support for this nonprofit.
This AI summary has been generated from reviews found on Facebook.
Is Wellspring Cooperative Corporation legitimate?
Wellspring Cooperative Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wellspring Cooperative Corporation 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: $170,612
Professional Fundraising Fees: $0
Other Salaries and Wages: $70,437
For more financial information, click here
Official website here: www.wellspringcoop.org
What is the mission statement of Wellspring Cooperative Corporation?
Wellspring Cooperative Corporation's mission is centered around fostering a cooperative, equitable, democratic, and sustainable economy. The organization works with historically underserved communities, primarily in the larger Springfield region. They aim to achieve this by establishing a network of worker cooperatives and supporting community-led initiatives that promote cooperatives and collective well-being. This approach is designed to provide employment opportunities and generate wealth for low-income residents.
Official website here: www.wellspringcoop.org
What is the revenue of Wellspring Cooperative Corporation?
Wellspring Cooperative Corporation's revenue in 2023 was $817,543.
Official website here: www.wellspringcoop.org
Who are the executives of Wellspring Cooperative Corporation and what are their salaries?
The average compensation at Wellspring Cooperative Corporation during 2023 was $60,262. There are 4 employees and 25 volunteers at Wellspring Cooperative Corporation.
Here are 14 key members and their salaries:
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Official website here: www.wellspringcoop.org
Where can I find the form 990 for Wellspring Cooperative Corporation?
Wellspring Cooperative Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.wellspringcoop.org
Learn more at the official website: www.wellspringcoop.org
Mission Statement of Wellspring Cooperative Corporation
Wellspring Cooperative Corporation is dedicated to establishing a cooperative, equitable, democratic, and sustainable economy. This mission-driven organization works with historically underserved communities in the greater Springfield region by developing a network of worker cooperatives and supporting community-led initiatives that foster cooperatives and collective well-being. By nurturing these cooperatives, Wellspring Cooperative Corporation aims to provide job opportunities and wealth for low-income residents, ultimately contributing to a more equitable society.
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Impact
October, 2024
Wellspring Cooperative Corporation fosters a transformative economic landscape by creating a network of worker-owned businesses that directly address the needs of low-income residents in Indian Orchard and the Greater Springfield region. Through cooperative business development, Wellspring has successfully supported the formation of three new cooperative enterprises and assisted 11 emerging cooperatives, thereby enhancing job opportunities and facilitating wealth generation within the community.
In addition, Wellspring plays a pivotal role in community engagement by spearheading initiatives like the Grow Indian Orchard network, which focuses on improving local conditions and revitalizing community resources, such as the redevelopment of the Indian Orchard Fire Station. Their involvement in managing the Go Fresh Mobile Market addresses food access issues, ensuring that community members have reliable access to nutritious options.
Wellspring's commitment to a cooperative, equitable, and sustainable economy helps empower historically underserved communities. By promoting collective well-being and fostering democratic business practices, Wellspring enables local residents to take ownership of their economic futures and cultivate a thriving community. Through ongoing communications and community programs, they not only raise awareness of their mission but also build strong relationships that reinforce community resilience and collaboration.
This information is meant to be a general summary of Wellspring Cooperative Corporation. 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: $1
- Program Service Revenue: $17,536
- Gross Receipts: $817,543
Assets and Liabilities:
- Total Assets: $156,253
- Total Liabilities: $0
- Net Assets: $156,253
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE FOR SERVICES
Revenue
$17,536
Organization Details
Founding Year
2014
Principal Officer
Fred Rose
Website
www.wellspringcoop.orgNTEE Category
Code: S30 - Community improvement
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