WELLSPRING CULTURAL&EDUCATIONAL FO… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

Principal Officer

ISMAIL YILMAZ

Phone

2039344900

Tax Period

2022-07-01 to 2023-06-30

WELLSPRING CULTURAL&EDUCATIONAL FOUNDATION INC, founded in 2001, is a small nonprofit in the Education sector that reported $342K in total revenue in fiscal year 2022. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $326K left a modest 5% surplus.

Mission

RUN PROGRAMS TO PROMOTE UNDERSTANDING OF TURKISH CULTURE AND TURKISH LANGUAGE IN THE UNITED STATES OF AMERICA.

Program Service Accomplishments

Program 1

Expenses: $267,471

TO ESTABLISH, MAINTAIN AND NOURISH EDUCATIONAL AND CULTURAL PROGRAMS FOR THE BENEFIT OF TURKISH AMERICANS AND PERSONS OF TURKISH-AMERICAN DESCENT.

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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%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $326,168

Program Service Revenue $15,732

Investment Income $0

Other Revenue $0

TOTAL REVENUE $341,900

Expense Breakdown

Grants Paid $0

Salaries & Benefits $153,449

Fundraising Expenses $0

Program Expenses $267,471

Other Expenses $172,409

TOTAL EXPENSES $325,858

Year-over-Year Comparison

	2022	2021	Change
Revenue	$341,900	$254,901	+0.3%
Expenses	$325,858	$127,934	+1.5%
Net Income	$16,042	$126,967	-0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

Total Directors

Key Employees

$88,800

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ISMAIL YILMAZ	PRESIDENT	2.000	Director	$0	$0	$0
ADEM KALKAN	VICE PRESIDENT	2.000	Director	$0	$0	$0
SULEYMAN ER	SECRETARY	2.000	Director	$0	$0	$0
FERHAT SAHIN	TREASURER	2.000	Director	$0	$0	$0
MAHIYE AKSU	MEMBER	2.000	Director	$0	$0	$0
BURAK CIVELEK	MEMBER	2.000	Director	$0	$0	$0
AYSE GENC	MEMBER	2.000	Director	$0	$0	$0
SUAT YIGIT	EXECUITVE DIRECTOR	40.00	Key Emp	$88,800	$0	$88,800

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
2024	No data	No data	No data	No data
2023	$341,900	$325,858	$1,383,073	$16,042
2022	$254,901	$127,934	$1,407,199	$126,967
2021	$154,800	$97,273	$1,326,106	$57,527
2020	$179,124	$137,925	$1,425,571	$41,199
2019	$153,627	$141,840	$1,417,950	$11,787

WELLSPRING CULTURAL&EDUCATIONAL FOUNDATION INC