WELLSPRING ADOPTION AGENCY INC

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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

1989

Legal Domicile

Principal Officer

LYNN RICCHIO

Phone

6123790980

Tax Period

2024-01-01 to 2024-12-31

WELLSPRING ADOPTION AGENCY INC, founded in 1989, is a small nonprofit in the Religion sector that reported $827K in total revenue in fiscal year 2024. Expenses of $797K left a modest 4% surplus.

Mission

WELLSPRING ADOPTION AGENCY, INC., DBA ADOPTION MINNESOTA, PROVIDES ADOPTION AND SUPPORT SERVICES FOR BOTH BIRTHPARENT AND ADOPTIVE PARENTS.

Program Service Accomplishments

Program 1

Expenses: $468,962 Revenue: $816,649

WELLSPRING PROVIDES ADOPTION SUPPORT SERVICES TO ADOPTIVE AND BIRTH PARENTS. WELLSPRING PRIMARILY PERFORMS HOMESTUDIES OF ADOPTIVE PARENTS AND COUNSELS BIRTH AND ADOPTIVE PARENTS. THE ORGANIZATION...

WELLSPRING PROVIDES ADOPTION SUPPORT SERVICES TO ADOPTIVE AND BIRTH PARENTS. WELLSPRING PRIMARILY PERFORMS HOMESTUDIES OF ADOPTIVE PARENTS AND COUNSELS BIRTH AND ADOPTIVE PARENTS. THE ORGANIZATION PERFORMED THESE SERVICES IN CONNECCTION WITH 52 ADOPTIONS IN 2024.

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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 (2024)

Revenue Breakdown

Contributions & Grants $5,201

Program Service Revenue $816,649

Investment Income $5,312

Other Revenue $0

TOTAL REVENUE $827,162

Expense Breakdown

Grants Paid $0

Salaries & Benefits $530,562

Fundraising Expenses $0

Program Expenses $468,962

Other Expenses $266,260

TOTAL EXPENSES $796,822

Year-over-Year Comparison

	2024	2023	Change
Revenue	$827,162	$766,790	+0.1%
Expenses	$796,822	$760,773	+0.0%
Net Income	$30,340	$6,017	+4.0%

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

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

$218,980

Total Directors

$125,060

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LYNN RICCHIO	EXECUTIVE DI	40.00	Officer Director	$117,347	$7,713	$125,060
AMANDA WARNER	ASSOCIATE DI	40.00	Officer	$88,124	$5,796	$93,920
REID BORDSON	BOARD MEMBER	N/A	Director	$0	$0	$0
MELISSA OLSEN	VICE PRESIDE	N/A	Director	$0	$0	$0
CARNEN SWENSON	PRESIDENT	N/A	Director	$0	$0	$0
MAYA VUKELICH	BOARD MEMBER	N/A	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	$827,162	$796,822	$1,156,100	$30,340
2023	$766,790	$760,773	$1,125,760	$6,017
2022	$888,633	$778,295	$1,119,743	$110,338
2021	$998,739	$852,890	$1,020,615	$145,849
2020	$916,436	$822,998	$878,098	$93,438
2019	$824,193	$740,563	$775,762	$83,630
2018	$849,774	$782,254	$693,965	$67,520