Springwell Network Inc
EIN: 561097900 · Winston Salem, NC · NTEE: P73Z
Is Springwell Network Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Springwell Network Inc
Springwell Network Inc (EIN: 561097900) is a nonprofit organization based in Winston Salem, NC, classified under NTEE code P73Z. The organization reported total revenue of $2.6M and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Springwell Network Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Springwell Network Inc is a mid-size nonprofit that has been operating for 50 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.1M |
| Total Expenses | $2.3M |
| Surplus / Deficit | $-204,669 |
| Total Assets | $2.2M |
| Total Liabilities | $630K |
| Net Assets | $1.6M |
| Operating Margin | -9.8% |
| Debt-to-Asset Ratio | 28.5% |
| Months of Reserves | 11.6 months |
Financial Health Grade: B
In 2023, Springwell Network Inc reported a deficit of $205K with expenses exceeding revenue, holds 11.6 months of operating reserves (strong position), has a debt-to-asset ratio of 28.5% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Springwell Network Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.8% | +2.4% | -6.8% |
| 2022 | -20.3% | +2.3% | -10.4% |
| 2021 | +13.1% | +2.0% | +14.2% |
| 2020 | -6.5% | +5.3% | +2.2% |
| 2019 | +2.2% | +1.3% | +16.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1976 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Springwell Network Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Springwell Network Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $205K, with expenses exceeding revenue.
- Debt-to-asset ratio: 28.5%.
Frequently Asked Questions about Springwell Network Inc
Is Springwell Network Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Springwell Network Inc (EIN: 561097900) insufficient data. 0 red flags identified, 0 strengths noted.
How does Springwell Network Inc spend its money?
Detailed spending breakdown data is not yet available for Springwell Network Inc. Check back for updated IRS 990 analysis.
Are donations to Springwell Network Inc tax-deductible?
Springwell Network Inc is registered as a tax-exempt nonprofit (EIN: 561097900). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Springwell Network Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Springwell Network Inc's revenue has grown by 14.6%, moving from $1.8M to $2.1M. Total assets increased by 155.8% over the same period, from $865K to $2.2M. Total functional expenses rose by 18.4%, from $1.9M to $2.3M. In its most recent filing year (2023), Springwell Network Inc reported a deficit of $205K, with expenses exceeding revenue. The organization holds $630K in liabilities against $2.2M in assets (debt-to-asset ratio: 28.5%), resulting in net assets of $1.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.1M | $2.3M | $2.2M | $630K | — | View 990 |
| 2022 | $2.0M | $2.2M | $2.4M | $594K | — | View 990 |
| 2021 | $2.5M | $2.2M | $2.6M | $611K | — | — |
| 2020 | $2.2M | $2.1M | $2.3M | $622K | — | View 990 |
| 2019 | $2.4M | $2.0M | $2.3M | $634K | — | View 990 |
| 2018 | $2.3M | $2.0M | $1.9M | $644K | — | View 990 |
| 2017 | $2.3M | $2.2M | $1.7M | $694K | — | View 990 |
| 2016 | $2.2M | $1.9M | $1.6M | $730K | — | View 990 |
| 2015 | $2.0M | $2.0M | $1.4M | $807K | — | View 990 |
| 2014 | $1.9M | $1.9M | $682K | $102K | — | View 990 |
| 2013 | $1.8M | $1.9M | $644K | $37K | — | View 990 |
| 2012 | $1.9M | $1.8M | $720K | $44K | — | View 990 |
| 2011 | $1.8M | $1.9M | $865K | $258K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.1M, expenses of $2.3M, and assets of $2.2M (revenue +4.8% year-over-year).
- 2022: Revenue of $2.0M, expenses of $2.2M, and assets of $2.4M (revenue -20.3% year-over-year).
- 2021: Revenue of $2.5M, expenses of $2.2M, and assets of $2.6M (revenue +13.1% year-over-year).
- 2020: Revenue of $2.2M, expenses of $2.1M, and assets of $2.3M (revenue -6.5% year-over-year).
- 2019: Revenue of $2.4M, expenses of $2.0M, and assets of $2.3M (revenue +2.2% year-over-year).
- 2018: Revenue of $2.3M, expenses of $2.0M, and assets of $1.9M (revenue +1.4% year-over-year).
- 2017: Revenue of $2.3M, expenses of $2.2M, and assets of $1.7M (revenue +4.7% year-over-year).
- 2016: Revenue of $2.2M, expenses of $1.9M, and assets of $1.6M (revenue +10.3% year-over-year).
- 2015: Revenue of $2.0M, expenses of $2.0M, and assets of $1.4M (revenue +6.0% year-over-year).
- 2014: Revenue of $1.9M, expenses of $1.9M, and assets of $682K (revenue +2.3% year-over-year).
- 2013: Revenue of $1.8M, expenses of $1.9M, and assets of $644K (revenue -2.2% year-over-year).
- 2012: Revenue of $1.9M, expenses of $1.8M, and assets of $720K (revenue +2.2% year-over-year).
- 2011: Revenue of $1.8M, expenses of $1.9M, and assets of $865K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Springwell Network Inc:
Data Sources and Methodology
This transparency report for Springwell Network Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.