We Are Wellspring!
Statement of Activity Year Ended June 30, 2010 (Unaudited) Revenue Rounded Federal, State & Local Government Grants 60% $ 2,062,442 Capital Campaign 12% $ 409,987 Contributions 8% $ 263,176 Apartment Rentals 9% $ 302,632 Medicaid & Medicare 9% $ 304,214 Metro United Way 3% $ 111,081 Total Revenue 100% $ 3,453,532 Expenses Client Services and Supported Housing 80% $ 2,522,648 Management and General 10% $ 438,107 Capital Campaign 5% $ 59,691 Other Fundraising 5% $ 163,642 Total Expenses (Includes $136,000 deprecation) 100% $3,184,088 Current Year Increase in Net Assets $269,444
“Wellspring’s Concord House is my home away from home. Here, I’m treated well – yet challenged every day. I’m supported and loved … and it is like family to me!” ~ Stacey
Statement of Financial Position Year Ended June 30, 2010 (Unaudited) Assets Rounded Cash and Cash Equivalents $ 526,965 Grants and Accounts Receivable $ 961,873 Endowments $ 285,565 Other Assets $ 455,671 Property and Equipment, Net $ 2,340,675 Total Assets $4,570,749 Liabilities and Net Assets Liabilities Accounts Payable $ 47,449 Accrued Expenses $ 180,355 Other Current Liabilities $ 19,970 Mortgage Notes Payable $ 577,954 Total Liabilities $825,728 Net Assets Unrestricted $ 2,308,971 Temporarily restricted $ 1,150,485 Permanently restricted $ 285,565 Total Net Assets $3,745,021 Total Liabilites and Net Assets $4,570,749 living solutions for mental health recovery