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Nonprofiteer
← WELL-SPRING RET COMMUNITY

Form 990 for tax year 2022

Filed by WELL-SPRING RET COMMUNITY.

Totals

Total revenue
$36,704,666
Total expenses
$36,925,554
Contributions and grants received
$825,163
Grants paid
$1,078,134
Program service revenue
$34,365,310
Investment income
$1,416,879
Other revenue
$97,314
Total assets, end of year
$137,378,238
Total liabilities, end of year
$98,561,523
Net assets or fund balances, end of year
$38,816,715
Program services expenses (Part IX)
$33,511,077
Management and general expenses
$3,366,066
Fundraising expenses
$48,411
Program service expenses (Part III)
$33,511,077

Program services were 90.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $334,310

  • 1f · All other contributions, gifts and grants

    $490,853

  • 2a · Program service revenue: RESIDENT FEES

    total $33,105,220 · related or exempt $33,105,220

  • 2b · Program service revenue: HEALTH CARE SERVICES

    total $318,891 · related or exempt $318,891

  • 2f · All other program service revenue

    total $941,199 · related or exempt $941,199

  • 3 · Investment income

    total $1,392,333 · excluded $1,392,333

  • 6a · Gross rents

    real property $97,314

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $97,314

  • 6d · Net rental income or loss

    total $97,314 · excluded $97,314

  • 7a · Gross sales of assets other than inventory

    securities $140 · other assets $24,406

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $140 · other assets $24,406

  • 7d · Net gain or loss

    total $24,546 · excluded $24,546

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,078,134 · program services $1,078,134

  • 7 · Other salaries and wages

    total $14,156,317 · program services $12,536,580 · management and general $1,619,737

  • 9 · Other employee benefits

    total $1,687,755 · program services $1,419,962 · management and general $267,793

  • 10 · Payroll taxes

    total $978,048 · program services $840,864 · management and general $137,184

  • 11a · Fees: management

    total $655,506 · management and general $612,123 · fundraising $43,383

  • 11b · Fees: legal

    total $74,947 · management and general $74,947

  • 11c · Fees: accounting

    total $118,075 · management and general $118,075

  • 11g · Fees: other

    total $1,496,101 · program services $1,496,101

  • 12 · Advertising and promotion

    total $483,775 · program services $35,321 · management and general $448,454

  • 13 · Office expenses

    total $1,496,375 · program services $1,484,404 · management and general $11,971

  • 16 · Occupancy

    total $1,481,787 · program services $1,469,933 · management and general $11,854

  • 17 · Travel

    total $14,494 · program services $12,436 · management and general $2,058

  • 19 · Conferences, conventions and meetings

    total $53,384 · program services $45,803 · management and general $7,581

  • 20 · Interest

    total $1,201,229 · program services $1,201,229

  • 22 · Depreciation, depletion and amortization

    total $7,049,685 · program services $6,997,971 · management and general $51,714

  • 23 · Insurance

    total $321,884 · program services $319,309 · management and general $2,575

  • 24a · Other expenses: FOOD

    total $2,041,610 · program services $2,041,610

  • 24b · Other expenses: EQUIP. RENTAL & MAINT.

    total $1,956,200 · program services $1,956,200

  • 24c · Other expenses: MAINT. & HORTICULTURE

    total $477,624 · program services $477,624

  • 24d · Other expenses: RESIDENT ACTIVITIES

    total $84,666 · program services $84,666

  • 24e · All other expenses

    total $17,958 · program services $12,930 · fundraising $5,028

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,553,836 · end of year $1,457,218

  • 3 · Pledges and grants receivable

    beginning of year $1,473,687 · end of year $1,127,087

  • 4 · Accounts receivable

    beginning of year $941,169 · end of year $801,185

  • 8 · Inventories for sale or use

    beginning of year $75,316 · end of year $99,181

  • 9 · Prepaid expenses and deferred charges

    beginning of year $99,745 · end of year $169,830

  • 10a · Land, buildings and equipment: cost or other basis

    $150,479,225

  • 10b · Land, buildings and equipment: accumulated depreciation

    $66,502,611

  • 10c · Land, buildings and equipment, net

    beginning of year $83,020,262 · end of year $83,976,614

  • 12 · Investments: other securities

    beginning of year $40,773,323 · end of year $30,129,604

  • 15 · Other assets

    beginning of year $13,158,330 · end of year $19,617,519

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,512,382 · end of year $5,860,340

  • 19 · Deferred revenue

    beginning of year $42,563,519 · end of year $48,732,606

  • 20 · Tax-exempt bond liabilities

    beginning of year $45,449,221 · end of year $42,999,421

  • 25 · Other liabilities

    beginning of year $4,737,584 · end of year $969,156

  • 27 · Net assets without donor restrictions

    beginning of year $41,461,071 · end of year $37,445,957

  • 28 · Net assets with donor restrictions

    beginning of year $1,371,891 · end of year $1,370,758

Mission and programs · 2022

Mission

WELL-SPRING IS A NOT-FOR-PROFIT ORGANIZATION PROVIDING AGING-ADULT SERVICES WHICH CREATE AN EXPERIENCE THAT EXCEEDS THE NEEDS OF AN EVOLVING POPULATION OF OLDER ADULTS.

Activities or mission (Part I)

TO PROVIDE RETIREMENT LIVING SERVICES.

  • WELL-SPRING RETIREMENT COMMUNITY, INC ("WELL-SPRING"), A NORTH CAROLINA NONPROFIT CORPORATION, WAS ORGANIZED FOR THE PURPOSE OF OPERATING A CONTINUING CARE RETIREMENT COMMUNITY. WELL-SPRING IS GOVERNED BY A BOARD OF TRUSTEES COMPOSED OF CIVIC LEADERS, CURRENTLY CONSISTING OF 17 INDIVIDUALS, WHO SERVE WITHOUT COMPENSATION FOR STAGGERED THREE-YEAR TERMS. A MULTI-DENOMINATIONAL GROUP OF CHURCHES IN GREENSBORO, NORTH CAROLINA INITIALLY SPONSORED AND PROVIDED LEADERSHIP TO WELL-SPRING. REV. RUL. 72-124, 1972-1 C.B. 145, SETS OUT REQUIREMENTS THAT "HOME FOR THE AGED" MUST MEET TO QUALIFY FOR SECTION 501(C) 3 EXEMPTION. THE INTERNAL REVENUE SERVICE PROVIDED THE FOLLOWING REQUIREMENTS: (1) SATISFACTION OF THE NEED FOR HOUSING THROUGH THE PROVISION OF EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS AND SIMILAR NEEDS OF AGED.

    Expenses $33,511,077 · Grants $1,078,134 · Revenue $34,365,310

As filed on the 2022 return.

Listed in Part VII

  • Kenneth Boggs

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Kathryn Cookie Billings

    VICE-CHAIR, IMM. PAST CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Richard Beard

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Anthony Boyd

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Chris Brown

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Dan Camia

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Tim Clontz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Sally Cone

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Susan Cox

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Ginna Freyaldenhoven

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Wendy Gatlin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Danny Gatling

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Mark Hyman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jennifer Koenig

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Bonnie McAlister

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Susan McDonald

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Bob Powell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Susan Shumaker

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Carole Simms

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Leslye Tuck

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Dale Whitfield

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Ben Zuraw

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Stephen P Fleming

    PRESIDENT/CEO

    Total calculated
    $445,603
    From this org
    $0
    From related orgs
    $409,612
    Other
    $35,991
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $0 + $355,216 related
    Bonus
    $0 + $53,364 related
    Other
    $0 + $1,032 related
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $23,791 related
    Filer's total
    $0 + $445,603 related

  • K Alan Tutterow

    SECRETARY

    Total calculated
    $321,705
    From this org
    $0
    From related orgs
    $289,521
    Other
    $32,184
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $0 + $257,002 related
    Bonus
    $0 + $30,935 related
    Other
    $0 + $1,584 related
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $19,984 related
    Filer's total
    $0 + $321,705 related

  • Brian Tuckmantel

    TREASURER

    Total calculated
    $283,263
    From this org
    $0
    From related orgs
    $267,028
    Other
    $16,235
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $0 + $266,728 related
    Bonus
    $0
    Other
    $0 + $300 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $16,235 related
    Filer's total
    $0 + $283,263 related

  • Misti Ridenour

    DIRECTOR OF HEALTHCARE

    Total calculated
    $209,134
    From this org
    $196,300
    From related orgs
    $0
    Other
    $12,834
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $172,614
    Bonus
    $23,134
    Other
    $552
    Deferred
    $5,159
    Nontaxable benefits
    $7,675
    Filer's total
    $209,134

  • Janet Holbrook

    CONTROLLER

    Total calculated
    $137,914
    From this org
    $126,406
    From related orgs
    $0
    Other
    $11,508
    Hours/week
    40 + 5 related

  • Philip Johnson

    DIRECTOR OF FACILITIES

    Total calculated
    $127,628
    From this org
    $116,366
    From related orgs
    $0
    Other
    $11,262
    Hours/week
    40

  • Susan Suek

    DIRECTOR OF NURSING

    Total calculated
    $123,006
    From this org
    $115,331
    From related orgs
    $0
    Other
    $7,675
    Hours/week
    40

  • George Galvin

    DIRECTOR OF DINING SERVICES

    Total calculated
    $118,549
    From this org
    $101,235
    From related orgs
    $0
    Other
    $17,314
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • WELL-SPRING MANAGEMENT & DEVELOPMENT COMPANY INC

    C · MANAGEMENT SERVICES · NC

    Directly controlled by WELL-SPRING SERVICES

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202323189349302312

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