WELLSPRING LEARNING FOUNDATION INC: Form 990PF, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
WELLSPRING LEARNING FOUNDATION INC (EIN 85-1292200)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-06-25
IRS object ID
202511769349101221
Schema version
2024v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-06-25T16:33:16-04:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN592212206PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BUSH CERNY & CRISSY PABusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line18181 W BROWARD BOULEVARD SUITE 35AddressLine1Txt
CityPLANTATIONCityNm
State AbbreviationFLStateAbbreviationCd
ZIP333242033ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN851292200EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1WELLSPRING LEARNING FOUNDATION INCBusinessNameLine1Txt
Business Name Line2WELLSPRING LEARNING FOUNDATION INCBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlWELLBusinessNameControlTxt
Phone5618450123PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line17369 WESTPORT PLACEAddressLine1Txt
CityWEST PALM BEACHCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33413ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCHARLES C CORNWELLPersonNm
Person TitleOFFICERPersonTitleTxt
Phone5618450123PhoneNum
Signature2025-06-24SignatureDt
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrfalseIRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJOHN S BUSH CPAPreparerPersonNm
PTINP00871327PTIN
Phone9544744100PhoneNum
Preparation2025-06-25PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$162,086FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$11,500ContriRcvdRevAndExpnssAmt
Schedule B Not RequiredYes (X)ScheduleBNotRequiredInd
Interest On Sav Rev And Expnss$3InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$3InterestOnSavNetInvstIncmAmt
Interest On Savings Adj Net Incm$3InterestOnSavingsAdjNetIncmAmt
Dividends Rev And Expnss$1,778DividendsRevAndExpnssAmt
Dividends Net Invst Incm$1,778DividendsNetInvstIncmAmt
Dividends Adj Net Incm$1,778DividendsAdjNetIncmAmt
Total Rev And Expnss$13,281TotalRevAndExpnssAmt
Total Net Invst Incm$1,781TotalNetInvstIncmAmt
Total Adj Net Incm$1,781TotalAdjNetIncmAmt
Accounting Fees Rev And Expnss$2,175AccountingFeesRevAndExpnssAmt
Accounting Fees Net Invst Incm$2,175AccountingFeesNetInvstIncmAmt
Accounting Fees Adj Net Incm$2,175AccountingFeesAdjNetIncmAmt
Interest Rev And Expnss$4InterestRevAndExpnssAmt
Interest Net Invst Incm$4InterestNetInvstIncmAmt
Interest Adj Net Incm$4InterestAdjNetIncmAmt
Other Expenses Rev And Expnss$12,500OtherExpensesRevAndExpnssAmt
Other Expenses Dsbrs Chrtbl$12,500OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$14,679TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$2,179TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Adj Net Incm$2,179TotOprExpensesAdjNetIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$12,500TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$0ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$0ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$14,679TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$2,179TotalExpensesNetInvstIncmAmt
Total Expenses Adj Net Incm$2,179TotalExpensesAdjNetIncmAmt
Total Expenses Dsbrs Chrtbl$12,500TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses-$1,398ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Cash BOY$539CashBOYAmt
Cash EOY$2,196CashEOYAmt
Cash EOYFMV$2,196CashEOYFMVAmt
Corporate Stock BOY$126,014CorporateStockBOYAmt
Corporate Stock EOY$159,890CorporateStockEOYAmt
Corporate Stock EOYFMV$159,890CorporateStockEOYFMVAmt
Total Assets BOY$126,553TotalAssetsBOYAmt
Total Assets EOY$162,086TotalAssetsEOYAmt
Total Assets EOYFMV$162,086TotalAssetsEOYFMVAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind
No Donor Rstr Net Assests BOY$126,553NoDonorRstrNetAssestsBOYAmt
No Donor Rstr Net Assests EOY$162,086NoDonorRstrNetAssestsEOYAmt
Tot Net Ast Or Fund Balances BOY$126,553TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$162,086TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$126,553TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$162,086TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$126,553TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses-$1,398ExcessRevenueOverExpensesAmt
Other Increases$36,931OtherIncreasesAmt
Subtotal$162,086SubtotalAmt
Tot Net Ast Or Fund Balances EOY$162,086TotNetAstOrFundBalancesEOYAmt

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcfalseOrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateFLOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationYes (true)PrivateOperatingFoundationInd
New Substantial ContributorsfalseNewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd
Website AddressN/AWebsiteAddressTxt
Individual With BooksCHARLES C CORNWELLIndividualWithBooksNm
Phone5618450123PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line17369 WESTPORT PLACEAddressLine1Txt
CityWEST PALM BEACHCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33413ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdTitleTitleTxtAverage Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRtCompensationCompensationAmtEmployee Benefit ProgramEmployeeBenefitProgramAmtExpense Account Other AllwncExpenseAccountOtherAllwncAmtAddress Line2USAddress/AddressLine2Txt
CHARLES C CORNWELL
7369 WESTPORT PLACEWEST PALM BEACHFL33413OFFICER000.00$0$0$0
ANDREW CORNWELL
3776 MARKET WALKCLARKSTONGA30021OFFICER000.00$0$0$0
ELIZABETH CORNWELL
2525 LIBERTY PARK DRCAPE CORALFL33909OFFICER000.00$0$0$0UNIT 2305
FieldValueIRS element (for citing)
Comp Of Hghst Pd Empl Or NONENONECompOfHghstPdEmplOrNONETxt
Comp Of Hghst Pd Cntrct Or NONENONECompOfHghstPdCntrctOrNONETxt

Summary Of Direct Chrtbl Acty SummaryOfDirectChrtblActyGrp

FieldValueIRS element (for citing)
Description1VARIOUS, EDUCATIONDescription1Txt
Expenses1$12,500Expenses1Amt

Sum Of Program Related Invst SumOfProgramRelatedInvstGrp

FieldValueIRS element (for citing)
Description1N/ADescription1Txt

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$140,000AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,100AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$141,100TotalFMVOfUnusedAssetsAmt
Adjusted Total FMV Of Unused Ast$141,100AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$2,117CashDeemedCharitableAmt
Net Vl Noncharitable Assets$138,983NetVlNoncharitableAssetsAmt
Minimum Investment Return$6,949MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Sect4942j3j5 Fndtn And Frgn OrgYes (X)Sect4942j3j5FndtnAndFrgnOrgInd

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$12,500ExpensesAndContributionsAmt
Qualifying Distributions$12,500QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Qualifying Distributions$12,500QualifyingDistributionsAmt
Remaining Distri From Corpus$12,500RemainingDistriFromCorpusAmt
Total Corpus$12,500TotalCorpusAmt

Private Operating Foundations PrivateOperatingFoundationsGrp

FieldValueIRS element (for citing)
Section4942j3Yes (X)Section4942j3Ind

Lessor Adj Net Incm Min Invst Ret LessorAdjNetIncmMinInvstRetGrp

FieldValueIRS element (for citing)
Current Year$0CurrentYearAmt
Total$0TotalAmt

Qualifying Distributions QualifyingDistributionsGrp

FieldValueIRS element (for citing)
Current Year$12,500CurrentYearAmt
Year1$10,000Year1Amt
Year2$10,000Year2Amt
Year3$22,500Year3Amt
Total$55,000TotalAmt

Qualifying Distri Made Drt QualifyingDistriMadeDrtGrp

FieldValueIRS element (for citing)
Current Year$12,500CurrentYearAmt
Year1$10,000Year1Amt
Year2$10,000Year2Amt
Year3$22,500Year3Amt
Total$55,000TotalAmt

Two Thirds Minimum Invst Ret TwoThirdsMinimumInvstRetGrp

FieldValueIRS element (for citing)
Current Year$4,633CurrentYearAmt
Year1$4,155Year1Amt
Year2$4,311Year2Amt
Year3$5,291Year3Amt
Total$18,390TotalAmt

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Application Submission Info ApplicationSubmissionInfoGrp

FieldValueIRS element (for citing)
Recipient PersonCHARLES CORNWELLRecipientPersonNm

Recipient US Address RecipientUSAddress

FieldValueIRS element (for citing)
Address Line17369 WESTPORT PLAddressLine1Txt
CityWEST PALM BEACHCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33413ZIPCd
FieldValueIRS element (for citing)
Recipient Phone5618450123RecipientPhoneNum
Recipient Email AddressCAP@CAPCORN.AOLRecipientEmailAddressTxt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$3RelatedOrExemptFunctionIncmAmt

Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$1,778RelatedOrExemptFunctionIncmAmt

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Related Or Exempt Function Incm$1,781RelatedOrExemptFunctionIncmAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$1,781TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Accounting Fees Schedule AccountingFeesSchedule

Accounting Fees Detail AccountingFeesDetail (3 entries)

CategoryCategoryTxtAmtAmtNet Investment IncomeNetInvestmentIncomeAmtAdjusted Net IncomeAdjustedNetIncomeAmt
ACCOUNTING$500$500$500
ADMIN$1,500$1,500$1,500
BANK FEES$175$175$175

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp

FieldValueIRS element (for citing)
StockSECURITIESStockNm
EOY Book Value$159,890EOYBookValueAmt
EOYFMV$159,890EOYFMVAmt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (2 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmt
EXPENSES
GRANTS$12,500$12,500

Other Increases Schedule OtherIncreasesSchedule

Other Increases Detail OtherIncreasesDetail

FieldValueIRS element (for citing)
DescUNREALIZEDDesc
Amt$36,931Amt

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