Better Business Bureau Report for
Day Spring Foundation, Inc.

Better Business Bureau Report issued August 2010
Better Business Bureau Report expires August 2012


This BBB Accredited charity meets all 20 Standards for Charity Accountability. 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
Also known as:Day Spring
Day Spring Baxter Avenue
New Day
Day Spring Woods
Day Spring Homes
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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 44 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, 2009, Day Spring Foundation, Inc.'s program expenses were:

  
Housing and support 1,573,558
Total Program Expenses: $1,573,558
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Governance

               

Chief Executive : Deborah L. Kern, RSM, Executive Director
Compensation*:

Chair of the Board: John B. Reisert
Chair's Profession / Business Affiliation: Senior Account Executive, Skyline Exhibits Kentucky

Board Size: 20

Paid Staff Size: 43

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Fund Raising

               

Method(s) Used:

Fund raising methods include direct mail, invitations to fund raising events, print advertisements, grant proposals, internet, cause-related marketing, raffles
Fund raising costs were 31% of related contributions. (Related contributions, which totaled $540,031, 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’s audited consolidated financial statements (including all accounts for controlled related entities noted above) for the year that ended June 30, 2009.

Ending net assets as reported below include $2,710,370 in unrestricted net assets, $2,487,925 in temporarily restricted net assets, and $136,015 in permanently restricted net assets (Endowment).

Unrestricted net assets include $4,021,274 invested in property and equipment, $151,286 in Board Designated Endowment Investments, and $640,952 in a Board Designated Operating Reserve.




Source of Funds  
Contract revenue 712,830
Contributions 370,491
Residents food and transportation fees 264,337
Rents 245,575
Fundraising 169,540
Interest and divident income 19,842
Miscellaneous 14,615
Unrealized loss on investments -82,374
Loss on sale of investments -93,221
Total Income $1,621,635


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Uses of Funds as a % of Total Expenses

Programs: 80%  Fund Raising: 8%  Administrative: 12% 

Total income   $1,621,635
  Program expenses $1,573,558
  Fund raising expenses 165,988
  Administrative expenses 239,721
 
Total expenses   $1,979,267
Expenses in Excess of Income   (357,632)
Beginning net assets   5,691,942
Ending net assets   5,334,310
Total liabilities   151,444
Total assets   $5,485,754


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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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