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← WELLSPRING COOPERATIVE CORPORATION

Form 990 for tax year 2023

Filed by WELLSPRING COOPERATIVE CORPORATION.

What the amendment changed

Compared with the return it replaced , filed 14 November 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$817,543 changed to $832,722
Total expenses
$647,181 changed to $658,625
Contributions and grants received
$799,810 changed to $803,770
Grants paid
$42,390 changed to $275,424
Program service revenue
$17,536 changed to $13,576
Investment income
$1 changed to $15,376
Other revenue
$196 changed to $0
Total assets, end of year
$422,875 changed to $1,040,003
Total liabilities, end of year
$45,282 changed to $658,606
Net assets or fund balances, end of year
$377,593 changed to $381,397
Program services expenses
$392,173 changed to $416,738
Management and general expenses
$230,075 changed to $212,396
Fundraising expenses
$24,933 changed to $29,491
Program service expenses (Part III)
$392,173 changed to $416,738

Totals

Total revenue
$832,722
Total expenses
$658,625
Contributions and grants received
$803,770
Grants paid
$275,424
Program service revenue
$13,576
Investment income
$15,376
Other revenue
$0
Total assets, end of year
$1,040,003
Total liabilities, end of year
$658,606
Net assets or fund balances, end of year
$381,397
Program services expenses (Part IX)
$416,738
Management and general expenses
$212,396
Fundraising expenses
$29,491
Program service expenses (Part III)
$416,738

Program services were 63.3% 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.

  • 1e · Government grants (contributions)

    $615,240

  • 1f · All other contributions, gifts and grants

    $188,530

  • 2a · Program service revenue: FEE FOR SERVICES

    total $13,576 · related or exempt $13,576

  • 3 · Investment income

    total $15,376 · excluded $15,376

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $275,424 · program services $275,424

  • 5 · Compensation of officers, directors and key employees

    total $170,612 · management and general $170,612

  • 7 · Other salaries and wages

    total $70,134 · program services $26,482 · management and general $17,170 · fundraising $26,482

  • 10 · Payroll taxes

    total $20,727 · program services $2,280 · management and general $16,167 · fundraising $2,280

  • 11c · Fees: accounting

    total $2,883 · management and general $2,883

  • 11g · Fees: other

    total $1,132 · management and general $1,132

  • 12 · Advertising and promotion

    total $1,355 · program services $1,057 · management and general $149 · fundraising $149

  • 13 · Office expenses

    total $3,580 · program services $2,792 · management and general $394 · fundraising $394

  • 16 · Occupancy

    total $7,745 · program services $7,745

  • 20 · Interest

    total $15,375 · program services $15,375

  • 22 · Depreciation, depletion and amortization

    total $891 · program services $891

  • 23 · Insurance

    total $1,689 · program services $186 · management and general $1,317 · fundraising $186

  • 24a · Other expenses: CONTRACT SERVICES

    total $78,167 · program services $78,167

  • 24b · Other expenses: PROGRAM SUPPLIES

    total $5,839 · program services $5,839

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $825 · management and general $825

  • 24d · Other expenses: LICENSE AND FEES

    total $745 · management and general $745

  • 24e · All other expenses

    total $1,502 · program services $500 · management and general $1,002

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $200,436 · end of year $114,217

  • 4 · Accounts receivable

    beginning of year $479,841 · end of year $255,332

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

    $12,480

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

    $891

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $11,589

  • 15 · Other assets

    beginning of year $0 · end of year $658,865

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $3,936

  • 18 · Grants payable

    beginning of year $36,000 · end of year $0

  • 19 · Deferred revenue

    beginning of year $437,046 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $654,670

  • 27 · Net assets without donor restrictions

    beginning of year $156,042 · end of year $327,536

  • 28 · Net assets with donor restrictions

    beginning of year $51,189 · end of year $53,861

Mission and programs · 2023

Mission

WELLSPRING'S MISSION IS TO CREATE AN ECONOMY THAT IS COOPERATIVE EQUITABLE, DEMOCRATIC, AND SUSTAINABLE. WE WORK WITH HISTORICALLY UNDER-SERVED COMMUNITIES IN THE GREATER SPRINGFIELD REGION.

Activities or mission (Part I)

TO CREATE A NETWORK OF WORKER-OWNED FIRMS TO PROVIDE JOBS AND WEALTH FOR LOW-INCOME RESIDENTS OF THE CITY.

  • COOPERATIVE BUSINESS DEVELOPMENT - WELLSPRING SUPPORTS THE FORMATION OF NEW COOPERATIVE BUSINESS, ASSISTED EMERGING COOPERATIVE BUSINESS AND PARTICIPATED IN NATIONAL CHILDCARE COLLABORATION AND TRIANING. COMMUNICATIONS ABOUT WELLSPRING'S COOPERATIVE MISSION AND PROGRAMS BOTH INTERNALLY AND IN THE WIDER COMMUNITY THROUGH NEWSLETTERS, SOCIAL MEDIA AND PUBLIC EVENTS.

    Expenses $416,738 · Grants $275,424 · Revenue $13,576

As filed on the 2023 return.

Listed in Part VII

  • Trayce Whitfield

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Ernesto Cruz

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Ronald Molina-Brantley

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Todd Bailey

    CLERK

    Total calculated
    $0
    Hours/week
    0.5

  • Natalie Cotton-Nessler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Terry Gibson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Boone Sheer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jorge Perez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Julia Agron

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jeff Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • James Jasper

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Alex Rodriguez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Emily Kawano

    CO-DIRECTOR

    Total calculated
    $85,306
    From this org
    $85,306
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Fred Rose

    CO-DIRECTOR

    Total calculated
    $85,306
    From this org
    $85,306
    From related orgs
    $0
    Other
    $0
    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.

Grants on this return

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.

  • WELLSPRING INVESTMENT FUND

    501(C)(3) · RAISE CAPITAL TO SUPPORT WELLSPRING COOPERATIVE CORPORATION · MA

    Directly controlled by WELLSPRING COOPERATIVE CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
18 November 2025
IRS schema version
2023v6.0
Source object
202503229349302090

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