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Tax Status Governance Fund Raising Financial

Name:	Wellspring
Address:	225 W. Breckinridge Street
	Louisville, KY 40203
Phone:	502-637-4361
Web Address:	www.wellspringky.org
Also known as: Schizophrenia Foundation Kentucky

Wellspring meets the 20 Standards for Charity Accountability.

Wellspring was founded in 1982 by a small group of area citizens who were concerned about housing and supportive services for adults with severe and persistent mental illness. Over the past 30 years, Wellspring has grown into a multi-faceted organization. The agency takes pride in developing safe, attractive and affordable housing that improves both the lives of clients and the neighborhoods in which the agency’s programs are located. Agency clients may live in housing developed by Wellspring, or the agency may help them locate other housing in the community. In the latter case, Wellspring will provide them with the supportive services they need to be successful or link them to another service provider. Wellspring operates two adult Psychiatric Crisis Stabilization Units, the David J. Block Center and the Frank M. Gaines Center. Through these sites the agency helps adults who are in an acute psychiatric crisis achieve stabilization and avoid hospitalization. While in this program, clients receive intensive treatment, close monitoring with high levels of staff support, and medications prescribed by a psychiatrist. Wellspring also operates a variety of supportive residential housing programs. Journey House is an 8-bed site which serves homeless women who have both mental illness and substances use issues. Ardery House, a 13-bed transitional housing program, serves men and women who are homeless following hospitalization. The average stay for individuals in these supportive housing programs ranges from 9 to 18 months, after which they transition into independent living in the housing of their choice. Wellspring operates three additional supportive housing programs: Broadway Apartments, Concord Apartments, and Crescent House. These permanent supportive programs enable persons with extensive histories of psychiatric hospitalization to live successfully in the community. Wellspring also provides supportive services to an additional 26 persons with severe and persistent mental illness living in leased scattered site units and Wellspring owned apartments. In addition, Wellspring also owns or has secured over 100 units of heavily subsidized rental housing in apartments and single-family homes for persons with severe and persistent mental illness. These tenants have very limited incomes; many would be homeless or live in substandard housing without this resource.

For the fiscal year ended June 30, 2011, Wellspring's program expenses were:

Supportive housing	2,853,783
Total Program Expenses:	$2,853,783

Chief Executive : Katharine R. Dobbins, Executive Director

Compensation*:

Chair of the Board: Jefferey M. Yussman
Chair's Profession / Business Affiliation: Partner, Wyatt, Tarrant & Combs, LLP

Board Size: 18

Paid Staff Size: 128

Method(s) Used:

Methods of fund raising include direct mail, invitations to fund raising events, print advertisements, television, radio, grant proposals, internet, planned giving arrangements, and cause-related marketing. In addition, Wellspring is a Metro United Way member agency.

Fund raising costs were 11% of related contributions. (Related contributions, which totaled $1,932,688, are donations received as a result of fund raising activities.)

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.

The following information is based on Wellspring's audited financial statements - consolidated for the fiscal year ended June 30, 2011. Ending net assets as reported below include $3,717,912 in unrestricted net assets , $941,411 in temporarily restricted net assets, and $327,700 in permanently restricted net assets. Total assets as reported include $4,305,758 invested in property, land, and equipment. The agency reports that contribution and grant revenue includes $40,035 in capital campaign contributions.

Source of Funds
Grants and service fees	2,384,416
Apartment rentals	441,073
Resident services	229,622
Contributions	175,083
Special Events	127,087
Metro United Way	119,133
Increase in beneficial interest in restricted endowment	60,837
Investment Income	978
Realized and unrealized gains on investments	645
Other	292
Loss on disposal of property and equipment	-5,865
Total Income	$3,533,301

Uses of Funds as a % of Total Expenses

Programs: 80%  Fund Raising: 6%  Administrative: 14%

Total income				$3,533,301
	Program expenses			$2,853,783
	Fund raising expenses			204,346
	Administrative expenses			505,221
Total expenses				$3,563,350
Expenses in Excess of Income				(30,049)
Beginning net assets				5,017,072
Ending net assets				4,987,023
Total liabilities				1,479,423
Total assets				$6,466,446