Wellspring Charitable Foundation
Wellspring Charitable Foundation reports zero revenue and assets in its latest filing, raising questions about its current operational status despite historical financial strength.
EIN: 208103381 · Portland, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $252K |
| Program Spending | 75% |
| Net Assets | $5.3M |
| Transparency Score | 65/100 |
Is Wellspring Charitable Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Wellspring Charitable Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Wellspring Charitable Foundation
Wellspring Charitable Foundation (EIN: 208103381) is a nonprofit organization based in Portland, ME. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wellspring Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wellspring Charitable Foundation is a small nonprofit, with 4 years of IRS 990 filings on record (2011–2014). Revenue has grown at a compound annual rate of -12.3%.
Key Financial Metrics (2014)
From the most recent IRS 990 filing on record:
| Total Revenue | $685K |
| Total Expenses | $252K |
| Surplus / Deficit | +$433K |
| Total Assets | $5.3M |
| Net Assets | $5.3M |
| Operating Margin | 63.2% |
| Months of Reserves | 251.4 months |
Financial Health Grade: A
In 2014, Wellspring Charitable Foundation reported a surplus of $433K with revenue exceeding expenses, holds 251.4 months of operating reserves (strong position).
Financial Trends
Over 4 years of filings (2011–2014), Wellspring Charitable Foundation's revenue has declined at a compound annual growth rate (CAGR) of -12.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2014 | -11.8% | +65.9% | +8.9% |
| 2013 | +51.0% | +188.9% | +14.8% |
| 2012 | -49.3% | -74.6% | +12.3% |
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Wellspring Charitable Foundation with a Mission Score of 65 out of 100 (Good). 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: 75%
- fundraising: 10%
According to IRS 990 filings, Wellspring Charitable Foundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2014)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $433K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation was consistently reported as 0% across all available filings, indicating that no officers received compensation, which is a positive sign of financial stewardship for an organization that historically managed millions in assets.
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 Wellspring Charitable Foundation's IRS 990 filings:
- Latest filing reports $0 revenue and $0 assets, indicating potential cessation of operations or significant reporting issue.
- Lack of detailed program spending information in the provided summary makes it difficult to assess direct impact.
- NTEE code is unknown, which limits understanding of its specific charitable focus.
Strengths
The following positive indicators were identified for Wellspring Charitable Foundation:
- Historically strong asset base, ranging from $3.7M to $5.2M, indicating financial stability in prior periods.
- No reported liabilities in any filing period, demonstrating excellent financial health.
- 0% officer compensation reported across all filings, indicating strong financial stewardship regarding executive pay.
- Consistently low expense ratios relative to revenue in historical filings, suggesting efficient management of resources or focus on asset growth.
Frequently Asked Questions about Wellspring Charitable Foundation
Is Wellspring Charitable Foundation a legitimate charity?
Wellspring Charitable Foundation (EIN: 208103381) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 65/100. It has 4 years of IRS 990 filings on record. 3 red flags identified. 4 strengths noted. Financial health grade: A.
How does Wellspring Charitable Foundation spend its money?
Wellspring Charitable Foundation directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Wellspring Charitable Foundation tax-deductible?
Wellspring Charitable Foundation is registered as a tax-exempt nonprofit (EIN: 208103381). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Wellspring Charitable Foundation's spending goes to programs?
Wellspring Charitable Foundation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Wellspring Charitable Foundation located?
Wellspring Charitable Foundation is headquartered in Portland, Maine and files with the IRS under EIN 208103381.
How many years of IRS 990 filings does Wellspring Charitable Foundation have?
Wellspring Charitable Foundation has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data.
Is Wellspring Charitable Foundation still operational?
The latest filing showing $0 revenue and assets strongly suggests the organization may no longer be operational or has undergone a significant structural change. Further investigation into their current status would be required.
What caused the sudden drop to $0 revenue and assets?
The IRS 990 filings do not provide narrative explanations for such changes. This could be due to a dissolution, merger, or a change in reporting requirements, but the filings themselves do not specify.
How did Wellspring Charitable Foundation utilize its assets historically?
Based on its historical financial structure (significant assets, low expenses relative to revenue), it likely operated as a grant-making foundation, accumulating and investing assets to support charitable causes through grants, though specific grant details are not provided in this summary.
Filing History
IRS 990 filing history for Wellspring Charitable Foundation showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2011–2014), Wellspring Charitable Foundation's revenue has declined by 32.5%, moving from $1.0M to $685K. Total assets increased by 40.4% over the same period, from $3.8M to $5.3M. Total functional expenses rose by 21.8%, from $207K to $252K. In its most recent filing year (2014), Wellspring Charitable Foundation reported a surplus of $433K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2014 | $685K | $252K | $5.3M | $0 | — | View 990 |
| 2013 | $777K | $152K | $4.8M | $0 | — | View 990 |
| 2012 | $515K | $53K | $4.2M | $0 | — | View 990 |
| 2011 | $1.0M | $207K | $3.8M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2014: Revenue of $685K, expenses of $252K, and assets of $5.3M (revenue -11.8% year-over-year).
- 2013: Revenue of $777K, expenses of $152K, and assets of $4.8M (revenue +51.0% year-over-year).
- 2012: Revenue of $515K, expenses of $53K, and assets of $4.2M (revenue -49.3% year-over-year).
- 2011: Revenue of $1.0M, expenses of $207K, and assets of $3.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wellspring Charitable Foundation:
Data Sources and Methodology
This transparency report for Wellspring Charitable Foundation 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.