THE WELLSPRING FOUNDATION INC

EIN: 061014227 501(c)(3)

BETHLEHEM, CT

Total Revenue
$5,863,258
Total Expenses
$7,328,785
Total Assets
$7,403,180
Net Assets
$5,280,387
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
CT
Principal Officer
JAMES W DONAGHY CPA
Phone
2032667235
Tax Period
2023-07-01 to 2024-06-30

THE WELLSPRING FOUNDATION INC, founded in 1977, is a community nonprofit that reported $5.9M in total revenue in fiscal year 2023. Revenue decreased 19% compared to the prior year. Expenses of $7.3M exceeded revenue, resulting in a 25% operating deficit.

Mission

WELLSPRING IS A THERAPEUTIC AND EDUCATIONAL CENTER DEDICATED TO HEALING AND LEARNING THROUGH RELATIONAL APPROACHES- TO SELF, OTHERS, CREATION, AND SPIRIT- WHICH TOUCH AND BRING FORTH THE WELLSPRING OF PERSONAL BEING UNIQUE TO EACH INDIVIDUAL, GIVING HOPE TO EACH PERSON AND FAMILY IN OUR CARE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $204,189
Program Service Revenue $5,598,229
Investment Income $60,840
Other Revenue $0
TOTAL REVENUE $5,863,258

Expense Breakdown

Grants Paid $0
Salaries & Benefits $6,046,761
Fundraising Expenses $46,043
Program Expenses $6,120,685
Other Expenses $1,282,024
TOTAL EXPENSES $7,328,785

Year-over-Year Comparison

2023 2022 Change
Revenue $5,863,258 $7,248,521 -0.2%
Expenses $7,328,785 $6,747,457 +0.1%
Net Income $-1,465,527 $501,064 -3.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
11
Employees
147
Volunteers
50

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$303,226
Total Directors
11
$5,560
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DANIEL MURRAY CEO 40.00
Officer
$172,256 $900 $173,156
DR JOHN EWING PSYCH DIR. 18.00
Officer
$130,070 $0 $130,070
PHYLLIS BEAUVAIS PHD DIRECTOR 2.00
Director
$5,115 $445 $5,560
MICHAEL E ACKERMAN DIRECTOR 1.00
Director
$0 $0 $0
BABETTE A BASIL DIRECTOR 2.00
Director
$0 $0 $0
RACHEL BERKOWITZ OFFICER 1.00
Director
$0 $0 $0
JAMES W DONAGHY CPA VICE CHAIRPE 2.00
Director
$0 $0 $0
CYNTHIA HALLENBECK-LIBBY SECRETARY 2.00
Director
$0 $0 $0
JILL HOGAN CHAIRPERSON 2.00
Officer Director
$0 $0 $0
THOMAS W JASPER TREASURER 2.00
Officer Director
$0 $0 $0
MELODEE C MORRISON LCSW DIRECTOR 1.00
Director
$0 $0 $0
ELIZABETH KILBOURN GRAHAM MPA DIRECTOR 1.00
Director
$0 $0 $0
REV ROBERT F TUCKER DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $5,863,258 $7,328,785 $7,403,180 $-1,465,527
2023 $7,248,521 $6,747,457 $7,276,547 $501,064
2022 $5,676,810 $5,952,498 $6,587,130 $-275,688
2021 $5,934,063 $5,650,517 $7,938,638 $283,546
2020 $6,551,128 $6,621,963 $6,687,217 $-70,835
2019 $6,226,321 $6,546,740 $6,587,603 $-320,419
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