Wells College
Wells College faces persistent operating deficits and declining assets in recent years.
EIN: 150532276 · Aurora, NY · NTEE: B420 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $43.9M |
| Total Expenses | $32.8M |
| Program Spending | 80% |
| Net Assets | $61.2M |
| Transparency Score | 55/100 |
Is Wells College Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Wells College directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Wells College
Wells College (EIN: 150532276) is a nonprofit organization based in Aurora, NY, classified under NTEE code B420. The organization reported total revenue of $43.9M and total assets of $59.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wells College's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wells College is a large nonprofit that has been operating for 76 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $29.6M |
| Total Expenses | $32.8M |
| Surplus / Deficit | $-3,216,357 |
| Total Assets | $69.2M |
| Total Liabilities | $7.9M |
| Net Assets | $61.2M |
| Operating Margin | -10.9% |
| Debt-to-Asset Ratio | 11.5% |
| Months of Reserves | 25.3 months |
Financial Health Grade: B
In 2023, Wells College reported a deficit of $3.2M with expenses exceeding revenue, holds 25.3 months of operating reserves (strong position), has a debt-to-asset ratio of 11.5% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Wells College's revenue has declined at a compound annual growth rate (CAGR) of -1.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.9% | +10.9% | -2.7% |
| 2022 | +28.0% | +11.6% | -10.2% |
| 2021 | -25.8% | -9.4% | +6.2% |
| 2020 | -3.9% | -18.1% | +2.3% |
| 2019 | -8.6% | +0.6% | -1.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1950 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Wells College with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Wells College allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $3.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 11.5%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, which is highly unusual for an institution of Wells College's size and revenue. This could indicate that executive compensation is reported under other expense categories or that the highest-paid individuals are not formally classified as officers, potentially obscuring a complete picture of leadership remuneration.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Wells College's IRS 990 filings:
- Persistent operating deficits (5 out of 7 recent years)
- Declining asset base from $79.1M in 2021 to $69.1M in 2023
- Unusual reporting of 0% officer compensation across all filings
Strengths
The following positive indicators were identified for Wells College:
- Substantial asset base of $69.1 million in 2023, providing some financial cushion
- Long history of IRS 990 filings (13 filings), indicating consistent reporting
Frequently Asked Questions about Wells College
Is Wells College a legitimate charity?
Wells College (EIN: 150532276) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 55/100. It has 13 years of IRS 990 filings on record. Total revenue: $43.9M. 3 red flags identified. 2 strengths noted. Financial health grade: B.
How does Wells College spend its money?
Wells College directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Wells College tax-deductible?
Wells College is registered as a tax-exempt nonprofit (EIN: 150532276). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Wells College's spending goes to programs?
Wells College directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Wells College compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Wells College is near average for NTEE category B420 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Wells College located?
Wells College is headquartered in Aurora, New York and files with the IRS under EIN 150532276. It is classified under NTEE code B420.
How many years of IRS 990 filings does Wells College have?
Wells College has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $43.9M in total revenue.
Why does Wells College consistently report 0% officer compensation?
The consistent reporting of 0% officer compensation across all 13 filings is highly unusual for an organization with revenues in the tens of millions. This warrants further investigation to understand how executive leadership is compensated and reported, as it could impact transparency.
What is the plan to address the recurring operating deficits?
Wells College has experienced operating deficits in 5 of the last 7 years, including a $3.2 million deficit in 2023. Understanding the strategies to bring expenses in line with revenue is crucial for long-term financial stability.
Why have the organization's assets decreased by over $10 million since 2021?
Assets have declined from $79,137,888 in 2021 to $69,172,770 in 2023. This significant reduction, alongside operating deficits, suggests potential use of reserves or asset depreciation that needs clarification.
Filing History
IRS 990 filing history for Wells College showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Wells College's revenue has declined by 16.7%, moving from $35.5M to $29.6M. Total assets increased by 3.9% over the same period, from $66.6M to $69.2M. Total functional expenses rose by 8.3%, from $30.3M to $32.8M. In its most recent filing year (2023), Wells College reported a deficit of $3.2M, with expenses exceeding revenue. The organization holds $7.9M in liabilities against $69.2M in assets (debt-to-asset ratio: 11.5%), resulting in net assets of $61.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $29.6M | $32.8M | $69.2M | $7.9M | — | — |
| 2022 | $30.2M | $29.6M | $71.1M | $7.5M | — | View 990 |
| 2021 | $23.6M | $26.5M | $79.1M | $8.9M | — | — |
| 2020 | $31.8M | $29.3M | $74.5M | $8.1M | — | View 990 |
| 2019 | $33.1M | $35.7M | $72.8M | $9.1M | — | View 990 |
| 2018 | $36.2M | $35.5M | $74.2M | $8.8M | — | View 990 |
| 2017 | $34.4M | $35.4M | $72.4M | $8.8M | — | View 990 |
| 2016 | $40.8M | $36.3M | $70.7M | $8.1M | — | View 990 |
| 2015 | $35.4M | $34.2M | $69.6M | $8.2M | — | View 990 |
| 2014 | $34.8M | $33.0M | $67.5M | $6.0M | — | View 990 |
| 2013 | $31.6M | $32.7M | $64.5M | $5.1M | — | View 990 |
| 2012 | $26.7M | $30.0M | $62.7M | $3.8M | — | View 990 |
| 2011 | $35.5M | $30.3M | $66.6M | $2.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $29.6M, expenses of $32.8M, and assets of $69.2M (revenue -1.9% year-over-year).
- 2022: Revenue of $30.2M, expenses of $29.6M, and assets of $71.1M (revenue +28.0% year-over-year).
- 2021: Revenue of $23.6M, expenses of $26.5M, and assets of $79.1M (revenue -25.8% year-over-year).
- 2020: Revenue of $31.8M, expenses of $29.3M, and assets of $74.5M (revenue -3.9% year-over-year).
- 2019: Revenue of $33.1M, expenses of $35.7M, and assets of $72.8M (revenue -8.6% year-over-year).
- 2018: Revenue of $36.2M, expenses of $35.5M, and assets of $74.2M (revenue +5.4% year-over-year).
- 2017: Revenue of $34.4M, expenses of $35.4M, and assets of $72.4M (revenue -15.8% year-over-year).
- 2016: Revenue of $40.8M, expenses of $36.3M, and assets of $70.7M (revenue +15.4% year-over-year).
- 2015: Revenue of $35.4M, expenses of $34.2M, and assets of $69.6M (revenue +1.6% year-over-year).
- 2014: Revenue of $34.8M, expenses of $33.0M, and assets of $67.5M (revenue +10.3% year-over-year).
- 2013: Revenue of $31.6M, expenses of $32.7M, and assets of $64.5M (revenue +18.4% year-over-year).
- 2012: Revenue of $26.7M, expenses of $30.0M, and assets of $62.7M (revenue -24.9% year-over-year).
- 2011: Revenue of $35.5M, expenses of $30.3M, and assets of $66.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wells College:
Data Sources and Methodology
This transparency report for Wells College 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.