WELLSPRING SECOND CHANCE CENTER (EIN 263277422) - Form 990 Financial Analysis & Trantor Score

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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

2010

Legal Domicile

Principal Officer

Deseria Galloway

Phone

6122962895

Tax Period

2023-01-01 to 2023-12-31

WELLSPRING SECOND CHANCE CENTER, founded in 2010, is a small nonprofit in the Mental Health sector that reported $695K in total revenue in fiscal year 2023. Revenue surged 62% from the prior year, signaling strong growth momentum.

Mission

The Well Spring Second Chance Center Mission is to shepherd community resources, meet basic needs, promote self-sufficiency, assist and protect the vulnerable, formerly incarcerated, marginalized persons, and preserve families through the efficient and cost-effective delivery of services expertise, crisis management and with an emphasis in the area of improving lives of ex-offenders. We provide diversionary programing and do not go in prisons. With the exemption of Criminal Sexual Contact (CSC) Clients

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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 (2023)

Revenue Breakdown

Contributions & Grants $653,599

Program Service Revenue $26,122

Investment Income $10,500

Other Revenue $4,875

TOTAL REVENUE $695,096

Expense Breakdown

Grants Paid $13,307

Salaries & Benefits $337,323

Fundraising Expenses $7,500

Program Expenses $446,398

Other Expenses $340,477

TOTAL EXPENSES $698,607

Year-over-Year Comparison

	2023	2022	Change
Revenue	$695,096	$429,384	+0.6%
Expenses	$698,607	$438,997	+0.6%
Net Income	$-3,511	$-9,613	-0.6%

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

$83,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Deseria Galloway	CEO	40	Officer	$83,000	$0	$83,000
Lilene Moore	Director at Large	1	Director	$0	$0	$0
Henry Galloway	Program Chair	1	Director	$0	$0	$0
Devon Gilchrist	Website Chair	1	Director	$0	$0	$0
Lucius Luther	Member at Large	1	Director	$0	$0	$0
Kentral Galloway	Director	1	Director	$0	$0	$0
Troy Cuff	Director	1	Director	$0	$0	$0
Rob Murray	Board Chair	1	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
2024	No data	No data	No data	No data
2023	$695,096	$698,607	$113,450	$-3,511
2022	$429,384	$438,997	$115,862	$-9,613

WELLSPRING SECOND CHANCE CENTER