Better Business Bureau Report for
Wellspring, Inc.

Better Business Bureau Report issued March 2018
Better Business Bureau Report expires March 2019


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: Wellspring, Inc.
Address: 225 W. Breckinridge Street
  Louisville, KY 40203
Phone: 502-637-4361
Web Address: www.wellspringky.org
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Better Business Bureau Comments

Year, State Incorporated: 1982, Kentucky
Affiliates: Wellspring Apartments, Inc, Clover Hill Apartments, Inc., Patrick Henry Apartments, Inc., Wellspring Bridge Apartments, Inc., Amity Apartments, Inc., Tonini Apartments, Inc
Stated Purpose: Wellspring's mission is to promote mental health recovery and support individuals in building healthy and hopeful lives through behavioral health, housing and employment services. An underlying premise of Wellspring's work is the belief that when adults with mental illness have the stability and dignity of housing, then the work of psychiatric rehabilitation and recovery can begin.

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Evaluation Conclusions

              

Wellspring, Inc. meets the 20 Standards for Charity Accountability.
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Programs

              

Wellspring, founded in 1982, promotes recovery from mental illness through leadership in the development of quality housing and rehabilitation services. Annually, Wellspring serves approximately 750 clients who have a variety of psychiatric illnesses. Wellspring offers Crisis Stabilization Programs, an extensive Supportive Housing Program, and an Affordable Housing Program with over 125 units of deeply subsidized rental housing. Wellspring offers recovery-oriented programming, with the focus on person-centered, individualized care, utilizing a multi-disciplinary approach to support clients along their individual paths to recovery. Wellspring facilitates clients’ community integration by strengthening neighborhood connections and offering high quality housing and person-centered supportive services. Financial management, program practices and outcomes, and business and employment practices are all overseen by a volunteer Board of Directors comprised of community leaders, mental health professionals, and concerned family members. Wellspring collaborates with Centerstone, New Directions Housing Corporation, the Family Health Centers’ Phoenix Health Center, the Coalition for the Homeless, Louisville Metro Continuum of Care, the Louisville Metro Department of Community Services & Revitalization, the Metropolitan Housing Coalition, the Kentucky Mental Health Coalition, Bridgehaven, and NAMI Louisville. Wellspring is a participating member of the Metro United Way and a Centerstone affiliate agency.

For the fiscal year ended June 30, 2017, Wellspring, Inc.'s program expenses were:

  
Supported housing 4,465,593
Total Program Expenses: $4,465,593
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Governance

              

Chief Executive : Katharine Dobbins, Chief Executive Officer
Compensation*: 
$113,376

Chair of the Board: Dawn Croft
Chair's Profession / Business Affiliation: Attorney, YUM!

Board Size: 16

Paid Staff Size: 112

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

Methods of fund raising include direct mail, telephone, invitations to fund raising events, print advertisements, grant proposals, internet, and cause-related marketing.

In addition, Wellspring is a Metro United Way member agency.

Fund raising costs were 7% of related contributions. (Related contributions, which totaled $4,153,026, 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 Wellspring, Inc.'s audited financial statements for the fiscal year ended June 30, 2017.

Ending net assets as reported below include $3,578,864 in unrestricted net assets, $303,396 in temporarily restricted net assets, and $394,296 in permanently restricted net assets.

Total assets as reported include $3,986,303 invested in property, land, and equipment, net.



Source of Funds  
Grants and service fees 3,502,333
Apartment rentals 614,301
Contributions 340,051
Special Events 232,952
Resident services 151,007
Metro United Way 77,690
Gain on disposal of property 56,635
Increase in beneficial interest in restricted endowment 50,281
Other 4,496
Investment Income 434
Total Income $5,030,180


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Uses of Funds as a % of Total Expenses

Programs: 82%  Fund Raising: 5%  Administrative: 13% 

Total income $5,030,180
Program expenses $4,465,593
Fund raising expenses 280,042
Administrative expenses 720,225
Total expenses $5,465,860
Expenses in Excess of Income (435,680)
Beginning net assets 4,712,236
Ending net assets 4,276,556
Total liabilities 1,487,647
Total assets $5,764,203


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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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