Consistent deficit spending, with expenses regularly exceeding revenue (e.g., $88,565 expenses vs. $58,178 revenue in 2023).
Gradual decline in total assets over the past decade (from $881,323 in 2014 to $705,711 in 2023) due to deficit operations.
Strengths
Zero reported officer compensation across all filings, indicating efficient use of funds for mission.
Consistent filing of IRS Form 990s, demonstrating good transparency.
Relatively stable revenue stream over the past decade, suggesting a reliable base of support.
Spending Breakdown
How Wellspring Bridge Apartments Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Wellspring Bridge Apartments Inc
Is Wellspring Bridge Apartments Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Wellspring Bridge Apartments Inc (EIN: 208284525) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
Is Wellspring Bridge Apartments Inc a good charity to donate to?
Wellspring Bridge Apartments Inc has a Mission Score of 75/100. Revenue: $67K. Assets: $689K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Wellspring Bridge Apartments Inc?
The Employer Identification Number (EIN) for Wellspring Bridge Apartments Inc is 208284525. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Wellspring Bridge Apartments Inc spend its money?
Wellspring Bridge Apartments Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Wellspring Bridge Apartments Inc's tax-exempt status?
You can verify Wellspring Bridge Apartments Inc's tax-exempt status using EIN 208284525 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Wellspring Bridge Apartments Inc. demonstrates consistent financial operations, primarily focused on its program services. The organization's revenue has been relatively stable over the past decade, averaging around $47,000 annually, with a slight increase to $58,178 in the most recent filing (202306). However, expenses have consistently exceeded revenue, leading to a gradual decline in assets from $881,323 in 2014 to $705,711 in 2023. This trend of deficit spending, with expenses like $88,565 in 2023 against $58,178 in revenue, indicates a reliance on existing assets to cover operational costs. The organization's transparency is strong, as evidenced by its consistent filing of IRS Form 990s and the clear reporting of zero officer compensation, suggesting a volunteer-led or very lean administrative structure.