Wellspring, Inc.
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
Wellspring, Inc. meets the 20 Standards for Charity Accountability.
Stated Purpose:
Wellspring promotes mental health recovery and supports individuals in building hopeful and healthy lives through behavioral health, housing, and employment services.
Year, State Incorporated:
1981, KY
Wellspring is a unique, mental health, and housing organization serving Louisville’s complex needs – and has done so since it opened its first mental health recovery program in 1982. It was the first organization in Kentucky to focus on supportive housing and it remains the only agency with a primary focus on housing and intensive support for adults with serious mental illness. Wellspring programs are available to adults of any socioeconomic capacity; however, many people enter Wellspring after being chronically homeless especially because of Wellspring’s Assertive Community Treatment team that focusses on chronically homeless adults with serious mental illness. Wellspring will serve approximately 1,600 adults in Louisville this year – the majority of whom live well below the poverty level on Supplemental Security Income and Medicaid. Wellspring also operates the region’s only adult psychiatric crisis stabilization units, which help reduce hospitalizations and alleviate client symptoms for hundreds of adults in psychiatric crisis each year. The organization also provides a supported employment program that places and supports adults with mental illness in meaningful jobs with Louisville businesses. Wellspring collaborates closely with many community partners, such as: The Coalition for the Homeless, Family Health Centers (Phoenix Health), Metropolitan Housing Coalition, Metro United Way, New Directions Housing Corporation, Seven Counties, and National Alliance on Mental Illnesses – Louisville.
For the year ended June 30, 2023, Wellspring, Inc.'s program expenses were:
| Supported housing | $6,426,426 |
| Total Program Expenses | $6,426,426 |
Chief Executive
Katharine Dobbins, CEO
Chair of the Board
Mr. Bill Friel
Chair's Profession / Business Affiliation
Principal Broker, Weichert Realtors, ABG Properties
Board Size
17
Paid Staff Size
94
Method(s) Used:
Direct mail appeals, Invitations to fund raising events, Print advertisements (newspapers, magazines, etc.), Television, Radio, Grant proposals, Internet, Planned giving arrangements, Cause-related marketing (affinity credit cards, consumer product sales, etc.), Appeals via Social Media (Facebook, etc.), Solicitations for Used Clothing
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Wellspring, Inc.'s audited financial statements - consolidated for the year ended June 30, 2023.
Source of Funds
| Grants and service fees | $6,559,798 |
| Resident services | $664,104 |
| Apartment rentals | $662,802 |
| Contributions | $234,463 |
| Special events | $222,153 |
| Increase in beneficial interest in restricted endowment | $45,709 |
| Contributed nonfinancial assets | $34,700 |
| Investment income | $17,860 |
| Other | $3,555 |
| Metro United Way | $2,590 |
| Total Income | $8,447,734 |
Programs: 84% Fundraising: 4% Administrative: 11%
| Total Income | $8,447,734 |
| Total expenses: | $7,606,726 |
| Program expenses | $6,426,426 |
| Fundraising expenses | $334,167 |
| Administrative expenses | $846,133 |
| Other expenses | $0 |
| Income in Excess of Expenses | $841,008 |
| Beginning Net Assets | $5,491,344 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $6,332,352 |
| Total Liabilities | $5,771,523 |
| Total Assets | $12,103,875 |
Total assets as reported above include $7,687,238 in property and equipment, net.
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Report completed by:
BBB serving Greater Kentucky and South Central Indiana