Better Business Bureau Report for
Day Spring Foundation, Inc.

Better Business Bureau Report issued September 2012
Better Business Bureau Report expires October 2014


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Day Spring Foundation, Inc.
Address: 3430 Day Spring Court
  Louisville, KY 40213
Phone: 502-636-5990
Web Address: www.dayspringky.org
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Better Business Bureau Comments

Year, State Incorporated: 1989, Kentucky
Affiliates: None
Stated Purpose: The Day Spring Foundation community empowers adults with intellectual disabilities to live fulfilling lives by offering support in a residential setting. We share a way of life that values the gifts of every community member. Day Spring Foundation, Inc., was formed for the purpose of soliciting charitable contributions for support of its controlled related entities which include Day Spring, Inc., Day Spring Baxter Avenue, Inc., New Day, Inc., Day Spring Woods, Inc., and Day Spring Homes, Inc.

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Evaluation Conclusions

              

Day Spring Foundation, Inc. meets the 20 Standards for Charity Accountability.
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Programs

              

Day Spring Inc. provides housing and direct support to 46 adults with intellectual disabilities through three community living homes and two buildings with individual apartments in the Metro Louisville area. Day Spring also provides outreach services (educational and social opportunities) to adults with intellectual disabilities and their families in the larger community.

For the fiscal year ended June 30, 2012, Day Spring Foundation, Inc.'s program expenses were:

  
Housing and support 1,388,242
Total Program Expenses: $1,388,242
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Governance

              

Chief Executive : Sarah Trester, Executive Director
Compensation*: 

Chair of the Board: Patrick Magill
Chair's Profession / Business Affiliation: Relationship Manager, Stock Yards Bank and Trust

Board Size: 20

Paid Staff Size: 43

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Fund Raising

              

Method(s) Used:

Methods of fund raising include direct mail, invitations to fund raising events, grant proposals, internet, cause-related marketing, and raffles.
Fund raising costs were 32% of related contributions. (Related contributions, which totaled $521,688, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Day Spring Foundation, Inc.'s audited financial statements - consolidated for the fiscal year ended June 30, 2012.

Ending net assets as reported below include $2,698,799 in unrestricted net assets, $2,457,676 in temporarily restricted net assets, and $161,517 in permanently restricted net assets (Endowment).

Unrestricted net assets include $1,371,609 invested in property and equipment, $458,221 available for operations, $260,654 in Board Designated Endowment Investments, and $608,315 in a Board Designated Operating Reserve.




Source of Funds  
Contract revenue 818,772
Contributions 363,479
Rents 255,506
Special events, net 158,209
Unrealized gain on investments 136,810
Resident food and transportation fees 130,212
Gain on sale of investments 18,656
Interest and dividend income 15,222
Miscellaneous 1,356
Total Income $1,898,222


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Uses of Funds as a % of Total Expenses

Programs: 75%  Fund Raising: 9%  Administrative: 16% 

Total income $1,898,222
Program expenses $1,388,242
Fund raising expenses 167,633
Administrative expenses 295,828
Total expenses $1,851,703
Income in Excess of Expenses 46,519
Beginning net assets 5,271,473
Ending net assets 5,317,992
Total liabilities 163,821
Total assets $5,481,813


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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