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Nonprofiteer
← WELL-SPRING FOUNDATION

Form 990 for tax year 2022

Filed by WELL-SPRING FOUNDATION.

Totals

Total revenue
$1,308,920
Total expenses
$681,565
Contributions and grants received
$889,166
Grants paid
$334,310
Program service revenue
$0
Investment income
$419,754
Other revenue
$0
Total assets, end of year
$11,257,578
Total liabilities, end of year
$478,445
Net assets or fund balances, end of year
$10,779,133
Program services expenses (Part IX)
$334,310
Management and general expenses
$347,255
Fundraising expenses
$0
Program service expenses (Part III)
$334,310

Program services were 49.1% 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.

  • 1f · All other contributions, gifts and grants

    $889,166

  • 3 · Investment income

    total $330,633 · excluded $330,633

  • 7a · Gross sales of assets other than inventory

    securities $89,121

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

    securities $0

  • 7c · Gain or loss

    securities $89,121

  • 7d · Net gain or loss

    total $89,121 · excluded $89,121

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $199,033 · program services $199,033

  • 2 · Grants to domestic individuals

    total $135,277 · program services $135,277

  • 11g · Fees: other

    total $347,255 · management and general $347,255

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,478 · end of year $140,013

  • 4 · Accounts receivable

    end of year $400,074

  • 13 · Investments: program-related

    beginning of year $13,245,459 · end of year $10,630,313

  • 15 · Other assets

    beginning of year $0 · end of year $87,178

  • 21 · Escrow or custodial account liability

    beginning of year $204,782 · end of year $179,260

  • 25 · Other liabilities

    beginning of year $292,698 · end of year $299,185

  • 27 · Net assets without donor restrictions

    beginning of year $8,278,414 · end of year $5,437,584

  • 28 · Net assets with donor restrictions

    beginning of year $4,484,043 · end of year $5,341,549

Mission and programs · 2022

Mission

WELL-SPRING FOUNDATION PROVIDES FINANCIAL SUPPORT TO WELL-SPRING RETIREMENT COMMUNITY. THE PRIMARY FINANCIAL SUPPORT IS FOR HEALTH CARE SERVICE PROVIDED AND CHARITY CARE.

Activities or mission (Part I)

WELL-SPRING FOUNDATION PROVIDES FINANCIAL SUPPORT TO WELL-SPRING RETIREMENT COMMUNITY. THE PRIMARY FINANCIAL SUPPORT IS FOR HEALTH CARE SERVICES PROVIDED AND CHARITY CARE.

  • WELL-SPRING FOUNDATION IS ORGANIZED TO SERVE EXCLUSIVELY AS A SUPPORTING ORGANIZATION FOR THE BENEFIT OF WELL-SPRING RETIREMENT COMMUNITY BY CARRYING OUT PURPOSES THAT ARE CONSISTENT WITH AND THAT SUPPORT THE PURPOSE OF WELL-SPRING RETIREMENT COMMUNITY.

    Expenses $334,310 · Grants $334,310

As filed on the 2022 return.

Listed in Part VII

  • ANTHONY BOYD

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2

  • CHARLES LUCAS

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • JENNIFER KOENIG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVY DAVIDSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHARLES T HAGAN III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATHRYN COOKIE BILLINGS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WENDY GATLIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRIAN TUCKMANTEL

    TREASURER

    Total calculated
    $283,263
    From this org
    $0
    From related orgs
    $267,028
    Other
    $16,235
    Hours/week
    2 + 43 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

  • STEPHEN P FLEMING

    PRESIDENT

    Total calculated
    $445,603
    From this org
    $0
    From related orgs
    $409,612
    Other
    $35,991
    Hours/week
    2 + 43 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

    CFO

    Total calculated
    $321,705
    From this org
    $0
    From related orgs
    $289,521
    Other
    $32,184
    Hours/week
    2 + 43 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

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

None.

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

The filer's explanations (Part III)

PART I, LINE 3
COMPENSATION FOR OFFICERS LISTED IN PART VII AND SCHEDULE J PART II WERE PAID BY A RELATED ORGANIZATION. THE PROCEDURES THAT THE RELATED ORGANIZATION FOLLOWS FOR SETTING COMPENSATION ARE AS FOLLOWS: 1. A BOARD OF TRUSTEES COMPENSATION COMMITTEE SHALL BE APPOINTED ANNUALLY BY THE BOARD CHAIR. THE COMMITTEE SHALL BE COMPRISED OF THE CURRENT CHAIR, IMMEDIATE PAST CHAIR, CHAIR-ELECT (IF ANY) AND 1-2 TRUSTEES AT LARGE. 2. THE COMMITTEE SHALL MEET APPROXIMATELY THIRTY DAYS PRIOR TO THE END OF THE WELL-SPRING RETIREMENT COMMUNITY'S FISCAL YEAR. 3. PRIOR TO THE MEETING, THE PRESIDENT/CEO SHALL PROVIDE COMPARABLE SALARY AND BENEFIT DATA THROUGH EXTERNAL SOURCES SUCH AS: THE AAHSA SALARY AND BENEFIT REPORT, NCANPHA WAGE SURVEY, PUBLIC RECORD IRS FORM 990S, AND INDEPENDENT SURVEYS. 4. PRIOR TO THE MEETING, THE PRESIDENT/CEO SHALL PROVIDE A STATEMENT OF ACHIEVEMENTS COMPARED TO GOALS FOR THE CURRENT YEAR AND A PRELIMINARY LIST OF PERFORMANCE GOALS FOR THE SUCCEEDING YEAR. 5. AT THE MEETING, THE PRESIDENT/CEO SHALL INFORM THE COMMITTEE OF PROPOSED SALARY ADJUSTMENTS FOR SENIOR MANAGEMENT FOR THE SUCCEEDING YEAR. THE PRESIDENT/CEO MAY PRESENT COMPARABLE SALARY DATA FOR SENIOR MANAGEMENT AT THE COMMITTEE'S DISCRETION. 6. AT THE MEETING AND AFTER PRESENTING YEAR-END RESULTS AND SUCCEEDING YEAR GOALS, THE COMMITTEE MAY EXCUSE THE PRESIDENT/CEO, ENTER INTO EXECUTIVE SESSION AND DISCUSS THE PRESIDENT/CEO'S PERFORMANCE AND COMPENSATION. 7. AT THE CONCLUSION OF THE MEETING, THE BOARD OF TRUSTEES' CHAIR SHALL MEET WITH THE PRESIDENT/CEO IN ORDER TO REVIEW THE COMMITTEE'S ASSESSMENT OF PERFORMANCE AND SALARY. SALARY ADJUSTMENTS TO THE PRESIDENT/CEO'S COMPENSATION SHALL BE AUTHORIZED BY SIGNATURE OF THE BOARD CHAIR OR VICE CHAIR ONLY. 8. AT THE FIRST BOARD OF TRUSTEES' MEETING FOLLOWING THE COMPENSATION COMMITTEE'S MEETING, THE BOARD OF TRUSTEES' CHAIR SHALL REPORT THE COMMITTEE'S FINDINGS AND THE COMMITTEE'S ACTIONS REGARDING EMPLOYMENT STATUS, RECOMMENDATIONS AND SALARY OR BENEFIT ADJUSTMENTS FOR THE PRESIDENT/CEO. EXECUTIVE MANAGERS COMPENSATION PHILOSOPHY OBJECTIVE: THE COMPENSATION COMMITTEE BELIEVES THAT THE PRIMARY OBJECTIVES OF WELL-SPRING'S EXECUTIVE COMPENSATION POLICIES SHOULD BE: - TO ATTRACT AND RETAIN TALENTED EXECUTIVES BY PROVIDING COMPENSATION THAT IS, OVERALL, HIGHLY COMPETITIVE WITH THE COMPENSATION PROVIDED TO EXECUTIVES AT COMPANIES OF COMPARABLE POSITION IN THE CONTINUING CARE RETIREMENT COMMUNITY FIELD, WHILE MAINTAINING COMPENSATION WITHIN LEVELS THAT ARE CONSISTENT WITH WELL-SPRING'S ANNUAL BUDGET, FINANCIAL OBJECTIVES, OPERATING PERFORMANCE AND RESIDENT AND STAFF SATISFACTION; AND - TO PROVIDE APPROPRIATE INCENTIVES FOR EXECUTIVES TO WORK TOWARD THE ACHIEVEMENT OF WELL-SPRING'S ANNUAL FINANCIAL PERFORMANCE AND BUSINESS GOALS BASED ON WELL-SPRING'S ANNUAL BUDGET. THE COMPENSATION COMMITTEE REVIEWS EXECUTIVE COMPENSATION POLICIES ANNUALLY TAKING INTO CONSIDERATION WELL-SPRING'S FINANCIAL PERFORMANCE, ITS ANNUAL BUDGET, ITS POSITION IN THE INDUSTRY AND WELL-SPRING'S MISSION STATEMENT AND CORE VALUES. THE COMPENSATION COMMITTEE BELIEVES THAT IN ADDITION TO CORPORATE PERFORMANCE, IT IS APPROPRIATE IN SETTING AND REVIEWING EXECUTIVE COMPENSATION TO CONSIDER THE LEVEL OF EXPERIENCE AND RESPONSIBILITIES OF EACH EXECUTIVE OFFICER AS WELL AS THE PERSONAL CONTRIBUTIONS A PARTICULAR INDIVIDUAL MAY MAKE TO THE SUCCESS OF WELL-SPRING RETIREMENT COMMUNITY, INC. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2022

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202303189349313830

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