WELLSPRING INC

EIN: 311020023 501(c)(3)

LOUISVILLE, KY

Total Revenue
$7,574,893
Total Expenses
$7,633,142
Total Assets
$14,276,140
Net Assets
$4,281,515
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1981
Legal Domicile
KY
Principal Officer
KATHARINE R DOBBINS
Phone
5026374361
Tax Period
2023-07-01 to 2024-06-30

WELLSPRING INC, founded in 1981, is a community nonprofit that reported $7.6M in total revenue in fiscal year 2023.

Mission

WELLSPRING'S MISSION IS TO LEAD OUR COMMUNITY IN DEVELOPING HOUSING, PROVIDING EVIDENCE-BASED TREATMENT AND STRENGTHENING RECOVERY FOR ADULTS WITH MENTAL ILLNESS.

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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 $3,719,284
Program Service Revenue $3,326,282
Investment Income $409,377
Other Revenue $119,950
TOTAL REVENUE $7,574,893

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,595,884
Fundraising Expenses $213,961
Program Expenses $6,770,233
Other Expenses $3,037,258
TOTAL EXPENSES $7,633,142

Year-over-Year Comparison

2023 2022 Change
Revenue $7,574,893 $7,796,871 0.0%
Expenses $7,633,142 $6,805,196 +0.1%
Net Income $-58,249 $991,675 -1.1%
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
17
Independent Members
17
Employees
130
Volunteers
217

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
5
$269,529
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVE KERRICK BOARD MEMBER 1.00
Director
$0 $0 $0
WILLIAM FRIEL CHAIR 1.00
Officer Director
$0 $0 $0
TRACY E DAVIS BOARD MEMBER 1.00
Director
$0 $0 $0
CURTISS SCOTT TREASURER 1.00
Officer Director
$0 $0 $0
CHRIS HARAGAN BOARD MEMBER 1.00
Director
$0 $0 $0
GEORGE W RAPP JR BOARD MEMBER 1.00
Director
$0 $0 $0
CARRIE SCHANIE BOARD MEMBER 1.00
Director
$0 $0 $0
KATHLEEN COGAN BOARD MEMBER 1.00
Director
$0 $0 $0
MARGARET PENNINGTON BOARD MEMBER 1.00
Director
$0 $0 $0
MICHAEL PATTERSON BOARD MEMBER 1.00
Director
$0 $0 $0
ROLANDAS BYRD BOARD MEMBER 1.00
Director
$0 $0 $0
SERRITA BELL SECRETARY 1.00
Officer Director
$0 $0 $0
TIMOTHY MANNING BOARD MEMBER 1.00
Director
$0 $0 $0
ALEXIS MILLS BOARD MEMBER 1.00
Director
$0 $0 $0
JENNIFER WOOD MD BOARD MEMBER 1.00
Director
$0 $0 $0
JILL BRENZEL BOARD MEMBER 1.00
Director
$0 $0 $0
JOSH STEARNS BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN ALEXANDER CFO 40.00
Officer
$117,350 $6,328 $123,678
KATHARINE R DOBBINS CEO 40.00
Officer
$131,827 $14,024 $145,851
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 $7,574,893 $7,633,142 $14,276,140 $-58,249
2023 $7,796,871 $6,805,196 $8,963,745 $991,675
2022 $6,332,385 $6,366,638 $4,000,310 $-34,253
2021 $6,404,279 $5,673,506 $4,225,957 $730,773
2020 $5,490,508 $5,728,198 $3,893,097 $-237,690
2019 $5,218,215 $5,427,664 $3,464,301 $-209,449
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