WELLSPRING FOUNDATION OF SOUTHWEST VIRGINIA

EIN: 262870970 501(c)(3) Health Care

ABINGDON, VA

Total Revenue
$112,913,191
Total Expenses
$463,660
Total Assets
$112,449,531
Net Assets
$112,449,531
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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
2021
Legal Domicile
VA
Principal Officer
WILLIAM HAYTER
Tax Period
2021-07-01 to 2022-06-30

WELLSPRING FOUNDATION OF SOUTHWEST VIRGINIA, founded in 2021, is a major nonprofit in the Health Care sector that reported $112.9M in total revenue in fiscal year 2021. The organization ran a surplus of $112.4M, a strong 100% operating margin.

Mission

THE ORGANIZATION IS ORGANIZED FOR THE PURPOSE OF RECEIVING, MAINTAINING AND ADMINISTERING ASSETS EXCLUSIVELY FOR CHARITABLE OR EDUCATIONAL PURPOSES, INCLUDING, BUT NOT LIMITED TO THE RECOGNIZABLE AND UNMET HEALTHCARE, WELLNESS, ECONOMIC AND EDUCATIONAL NEEDS OF THE COMMUNITIES WHICH THE CORPORATION SERVES, AND TO USE THE WHOLE OR ANY PART OF THE INCOME AND PRINCIPAL WITHIN THEREFROM FOR SUCH PURPOSES EITHER DIRECTLY OR BY CONTRIBUTION TO OTHER ORGANIZATIONS.

Program Service Accomplishments

Program 1

PROVIDE FUNDING TO HEALTCARE ORGANIZATIONS THROUGHOUT SWVA

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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 (2021)

Revenue Breakdown

Contributions & Grants $112,441,723
Program Service Revenue $0
Investment Income $471,468
Other Revenue $0
TOTAL REVENUE $112,913,191

Expense Breakdown

Grants Paid $0
Salaries & Benefits $194,151
Fundraising Expenses $0
Other Expenses $269,509
TOTAL EXPENSES $463,660

Year-over-Year Comparison

2021 2020 Change
Revenue $112,913,191 N/A N/A
Expenses $463,660 N/A N/A
Net Income $112,449,531 N/A N/A
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

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Governance

Voting Members
11
Independent Members
11
Employees
3
Volunteers
N/A

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
12
$135,000
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SEAN MCMURRAY EXECUTIVE DI 40.00
Officer
$135,000 $0 $135,000
DR HAYTHAM ADADA BOARD MEMBER 1.00
Officer Director
$0 $0 $0
DR KAREN ELMORE BOARD MEMBER 1.00
Officer Director
$0 $0 $0
DR RACHEL FOWLKES BOARD MEMBER 1.00
Officer Director
$0 $0 $0
DICK GAIL VICE PRESIDE 1.00
Officer Director
$0 $0 $0
MARVIN GILLIAM BOARD MEMBER 1.00
Officer Director
$0 $0 $0
WILLIAM HAYTER CHAIRMAN 1.00
Officer Director
$0 $0 $0
DONNIE MEADOWS TREASURER 1.00
Officer Director
$0 $0 $0
ERIC MILLER BOARD MEMBER 1.00
Officer Director
$0 $0 $0
DR JOANN PRICE BOARD MEMBER 1.00
Officer Director
$0 $0 $0
THOMAS REVELS BOARD MEMBER 1.00
Officer Director
$0 $0 $0
MIKE SPIEGLER SECRETARY 1.00
Officer 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
2022 $112,913,191 $463,660 $112,449,531 $112,449,531
2019 No data No data No data No data
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