Better Business Bureau Report for
Day Spring Foundation, Inc.

Better Business Bureau Report issued October 2014
Better Business Bureau Report expires October 2016


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: Day Spring, Inc. 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. is the umbrella corporation that is responsible for fundraising. Day Spring, Inc. is the operational entity that oversees services to residents. 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 services to 50 adults with intellectual disabilities with 7 residential locations 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. Day Spring staff includes licensed social workers, a RN, and direct support professionals who work closely with each individual resident to help them live as fully as possible. Support includes, but is not limited to: case management, meal preparation, healthy meal choices; transportation to purchase groceries, to and from work, medical appointments, day programs, and volunteer activities; exercise and recreation; cleaning of laundry and living space; and personal care and assistance with activities of daily living. Over 80% of the residents of Day Spring participate and give back in the greater community at least 20 hours a week via employment, participating in a day program, or volunteering.

For the fiscal year ended June 30, 2014, Day Spring Foundation, Inc.'s program expenses were:

  
Housing and Support 1,725,794
Total Program Expenses: $1,725,794
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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 & Trust Company

Board Size: 21

Paid Staff Size: 60

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Fund Raising

              

Method(s) Used:

Methods of fund raising include direct mail, invitations to fund raising events, grant proposals, internet, planned giving arrangements, cause-related marketing
Fund raising costs were 48% of related contributions. (Related contributions, which totaled $479,426, 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, 2014.

Source of Funds  
Contract Revenue 1,339,005
Contributions 299,712
Rents 276,816
Special Events Net 179,714
Resident Fees /transportation/food 173,833
Unrealized gain on Investments 86,095
Gain on Sale of Investments 67,530
Interest Income 36,816
Total Income $2,459,521


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Uses of Funds as a % of Total Expenses

Programs: 70%  Fund Raising: 9%  Administrative: 21% 

Total income $2,459,521
Program expenses $1,725,794
Fund raising expenses 229,074
Administrative expenses 508,497
Total expenses $2,463,365
Expenses in Excess of Income (3,844)
Beginning net assets 5,279,321
Ending net assets 5,275,477
Total liabilities 418,643
Total assets $5,694,120

The BBB has determined that fund raising expenses are reasonable relative to standard 9.

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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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