2012-08-01T15:36:07-05:00 2011-12-31 410746749 CLIFTONLARSONALLEN LLP 101 N TRYON STREET SUITE 1000 CHARLOTTE NC 28246 990 2011-01-01 561497371 WELL-SPRING RETIREMENT COMMUNITY INC WELL 3365455418 4100 WELL SPRING DRIVE GREENSBORO NC 27410 K ALAN TUTTEROW 3365455418 2012-07-05 1 GREGORY W JOHNS P00535091 7049985200 2011 2016-02-24 21:20:13Z K ALAN TUTTEROW 4100 WELL SPRING DRIVE GREENSBORO NC 27410 30801873 0 X WWW.WELL-SPRING.ORG X 1987 NC TO PROVIDE RETIREMENT LIVING SERVICES. 18 18 506 72 0 0 953771 253685 20470203 21126598 712287 145848 -85830 -1138406 22050431 20387725 914262 869329 0 0 10034175 10567955 15476 3930 3930 8787065 8782112 19750978 20223326 2299453 164399 62392268 61726054 56661505 55853497 5730763 5872557 X WELL-SPRING IS A NOT-FOR-PROFIT COMMUNITY PROVIDING RETIREMENT LIVING SERVICES WHICH CREATE AN EXPERIENCE THAT EXCEEDS THE NEEDS OF AN EVOLVING POPULATION OF OLDER ADULTS IN A SPIRITUALLY NURTURING SETTING.WE ARE COMMITTED TO: -THE CONTINUING PHYSICAL, MENTAL AND SPIRITUAL CARE, WELL-BEING AND HAPPINESS OF OUR RESIDENTS, -DEVELOPING, OBTAINING AND RETAINING EFFECTIVE AND EFFICIENT MANAGEMENT AND EMPLOYEES, -PROVIDING UNSURPASSED CUSTOMER SERVICE AND VALUE, -BEING FISCALLY RESPONSIBLE AND KNOWLEDGEABLE OF INDUSTRY BEST PRACTICES, -INTEGRITY, ETHICAL CONDUCT, AND OPEN AND HONEST COMMUNICATIONS, -WELCOMING, ENCOURAGING AND HONORING DIVERSITY, AND -BEING GOOD CITIZENS, COMMUNITY LEADERS AND ADVOCATES FOR THE NEEDS OF OLDER ADULTS. 0 0 18245960 869329 21126598 WELL-SPRING RETIREMENT COMMUNITY, INC ("WELL-SPRING"), A NORTH CAROLINA NONPROFIT CORPORATION, WAS ORGANIZED FOR THE PURPOSE OF OPERATING A CONTINUING CARE RETIREMENT COMMUNITY. WELL-SPRING IS GOVERNED BY A BOARD OF TRUSTEES COMPOSED OF CIVIC LEADERS, CURRENTLY CONSISTING OF 18 INDIVIDUALS, WHO SERVE WITHOUT COMPENSATION FOR STAGGERED THREE-YEAR TERMS. A MULTI-DENOMINATIONAL GROUP OF CHURCHES IN GREENSBORO, NORTH CAROLINA SPONSOR AND PROVIDE LEADERSHIP TO WELL-SPRING.REV. RUL. 72-124, 1972-1 C.B. 145, SETS OUT REQUIREMENTS THAT "HOME FOR THE AGED" MUST MEET TO QUALIFY FOR SECTION 501(C) (3) EXEMPTION. THE INTERNAL REVENUE SERVICE PROVIDED THE FOLLOWING REQUIREMENTS: (1) SATISFACTION OF THE NEED FOR HOUSING THROUGH THE PROVISION OF EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS AND SIMILAR NEEDS OF AGED PERSONS; (2) SATISFACTION OF THE NEED FOR HEALTH CARE THROUGH PROVISION OF PHYSICAL AND MENTAL HEALTH SERVICES DIRECTLY OR THROUGH CONTINUING ARRANGEMENTS WITH OUTSIDE ORGANIZATIONS; AND (3) SATISFACTION OF THE NEED FOR FINANCIAL SECURITY THROUGH MAINTAINING IN RESIDENCE ANY PERSONS WHO BECOME UNABLE TO PAY THEIR REGULAR CHARGE AND THROUGH PROVIDING SERVICES AT THE LOWEST FEASIBLE COST. WELL-SPRING SATISFIES ALL THREE REQUIREMENTS.PROGRAM SERVICES REVENUE AND EXPENSE RELATE TO THE PROVISION OF EMOTIONAL, RECREATIONAL, SOCIAL, RELIGIOUS AND SIMILAR NEEDS OF THE RESIDENTS, AS WELL AS THE PROVISION OF PHYSICAL AND MENTAL HEALTH SERVICES. RENTAL INCOME IS RECEIVED FROM BEAUTY/BARBER SHOP, THERAPY COMPANY AND GUEST UNITS LOCATED ON THE WELL-SPRING PREMISES FOR THE CONVENIENCE OF THE ELDERLY RESIDENTS. IN ADDITION, REVENUES RECEIVED FROM OTHER INCOME RELATE TO THE PROCESSING OF APPLICATIONS FOR RESIDENTS AND RELATE TO WELL-SPRING'S EXEMPT PURPOSE OF PROVIDING FOR THE PRIMARY NEEDS OF ELDERLY INDIVIDUALS. IN CONJUNCTION WITH ITS COMMITMENT TO MAINTAINING PERSONS IN RESIDENCE WHO BECOME UNABLE TO PAY, WELL-SPRING HAS ESTABLISHED A BENEVOLENCE FUND WHICH WILL BE USED FOR THE EXCLUSIVE PURPOSE OF PROVIDING CHARITY TO RESIDENTS IN NEED. A BENEVOLENCE COMMITTEE DETERMINES WHICH RESIDENTS OF WELL-SPRING SHOULD RECEIVED BENEFITS FROM THE FUND. 18245960 1 1 0 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 69 0 506 1 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X K ALAN TUTTEROW 3365455418 4100 WELL SPRING DRIVE GREENSBORO NC 27410 D HAYES CLEMENT JR 4.00 X X 0 0 0 DAVID R HOWARD 3.00 X X 0 0 0 JAMES M WARD 2.00 X 0 0 0 WILLIAM R CROWDER 1.00 X 0 0 0 K WILLIAM FRASER 2.00 X 0 0 0 MARVIN PINSON 1.00 X 0 0 0 REV HOWARD CHUBBS 1.00 X 0 0 0 ROBERT E SEVIER 1.00 X 0 0 0 CHARLES L WEILL JR 2.00 X 0 0 0 DAVID M WORTH 1.00 X 0 0 0 SALLY B CONE 1.00 X 0 0 0 SHARON DANIEL 1.00 X 0 0 0 KENNETH K BOGGS 2.00 X 0 0 0 WILLIAM A MCLAUGHLIN 1.00 X 0 0 0 PAUL H LIVINGSTON JR 1.00 X 0 0 0 MACARTHUR SIMS 1.00 X 0 0 0 SUSAN L WILLIAMS 1.00 X 0 0 0 THOMAS WRIGHT 1.00 X 0 0 0 STEPHEN P FLEMING 40.00 X 221453 0 27227 K ALAN TUTTEROW 40.00 X 147669 0 22467 BARBARA W ADAMS 40.00 X 79057 0 8805 GEORGE GALVIN 40.00 X 106952 0 17218 MISTI BYLER 40.00 X 101609 0 9267 656740 0 84984 4 0 1 0 RENTENBACH CONSTRUCTORS INC 2400 SUTHERLAND AVENUE KNOXVILLE TN 37919 CONSTRUCTION 2429602 UNITED HEALTH CARE INSURANCE 22561 NETWORK PLACE CHICAGO IL 606731225 EMPLOYEE MEDICAL INSURANCE 936724 US FOODSERVICE PO BOX 602292 CHARLOTE NC 282602292 FOOD 907213 DUKE ENERGY PO BOX 70516 CHARLOTTE NC 282720516 ELECTRICITY 467541 MODERN SYSTEMS INC 1111 OLD STAGE ROAD YADKINVILLE NC 27055 CONSTRUCTION 282258 17 159583 94102 253685 RESIDENT FEES 623990 19651594 19651594 1475004 1475004 21126598 547605 547605 97325 90293 7032 7032 7032 9922098 10240951 82904 -318853 -82904 -401757 -401757 DEBT EXTINGUISHMENT LO 900099 -291393 -291393 JV LOSS PROVISION 900003 -854045 -854045 -1145438 20387725 21126598 0 -992558 869329 869329 452599 452599 8045603 7169341 876262 203809 171939 31870 1019886 859271 160615 846058 713760 132298 22397 22397 68000 68000 3930 3930 636618 636618 239028 9633 229395 636504 636504 888682 888682 22711 22711 28528 28528 831560 831560 3111342 3111342 219865 219865 FOOD 985106 985106 EQUIP. RENTAL & MAINT. 828911 828911 RESIDENT ACTIVITIES 82852 82852 MAINT. & HORTICULTURE 76218 76218 103790 103790 20223326 18245960 1973436 3930 3287844 2482038 4115805 4296583 367281 164719 316360 701447 40903 42546 92714 68001 66412097 28951343 37395209 37460754 16048527 16048102 727625 461864 62392268 61726054 1849638 1782294 30992393 31815406 22390000 20390000 1429474 1865797 56661505 55853497 X 5179867 5530235 550896 342322 5730763 5872557 62392268 61726054 X 164399 -22605 X X 0 1 1 X 0 X 140607 83659 77302 65470 253685 620723 16756057 18460376 19371522 20470203 21126598 96184756 578114 621205 609323 1808642 17474778 19165240 20058147 20535673 21380283 98614121 643430 464839 600131 818129 1077960 3604489 480356 825450 489065 496077 1194898 3485846 1123786 1290289 1089196 1314206 2272858 7090335 91523786 1355105 1159246 725470 715696 132202 4087719 1355105 1159246 725470 715696 132202 4087719 87124 97325 184449 18829883 20324486 20783617 21338493 21609810 102886289 0.88960 0.90010 0.03970 0.05230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 1695 1695 0 EXPLANATION OF OTHER LOBBYING ACTIVITIES: PART II-B, LINE 1I: A PORTION OF THE ORGANIZATION'S ASSOCIATION DUES IS ATTRIBUTABLE TO LOBBYING. 0 602097 25055 627152 1023437 -500000 318933 240273 602097 2830213 2830213 54492175 22996615 31495560 0 5282175 3351880 1930295 3807534 2602848 1204686 37460754 INVESTMENTS 16048102 F 16048102 REFUNDABLE FEES 672911 ADMISSION DEPOSITS 310553 OTHER LIABILITIES 43288 OBLIGATIONS UNDER JOINT VENTURE 839045 1865797 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: WELL-SPRING AND THE FOUNDATION ARE NOT-FOR-PROFIT ORGANIZATIONS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). WELL-SPRING AND THE FOUNDATION FILE AS TAX-EXEMPT ORGANIZATIONS. SHOULD ANY STATUS BE CHALLENGED IN THE FUTURE, WELL-SPRING AND THE FOUNDATION ARE OPEN FOR EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. MANAGEMENT IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE THE TAX-EXEMPT STATUS OF WELL-SPRING OR THE FOUNDATION. MANAGEMENT IS NOT AWARE OF ANY SIGNIFICANT ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES FOR WELL-SPRING OR THE FOUNDATION. WELL-SPRING AND THE FOUNDATION HAVE ADOPTED GUIDANCE ON THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE IMPLEMENTATION HAS HAD NO IMPACT ON THE COMMUNITY'S CONSOLIDATED FINANCIAL STATEMENTS. 1 ALZHEIMER'S ASSOCIATION 122 N ELM STREET SUITE 800 GREENSBORO NC 27401 561440727 501(C)(3) 5175 MEMORY WALK AMERICAN HEART ASSOCIATION 4217 PARK PLACE COURT GLEN ALLEN VA 23060 135613797 501(C)(3) 10150 HEART WALK APPALACHIAN STATE UNIVERSITY 231 PLEMMONS STUDENT UNION BOONE NC 28608 561176030 501(C)(3) 10000 HEALTH CARE MANAGMENT SCHOLARSHIP BELL HOUSE 2400 SUMMIT AVENUE GREENSBORO NC 27405 561145963 501(C)(3) 12000 OPERATING SUPPORT EASTERN MUSIC FESTIVAL 200 N DAVIE STREET STE 303 GREENSBORO NC 27401 560771005 501(C)(3) 5000 OPERATING SUPPORT CAROLINA THEATRE 310 S GREENE ST GREENSBORO NC 27401 560746180 501(C)(3) 6080 OPERATING SUPPORT TRIAD STAGE 232 S ELM STREET GREENSBORO NC 27401 621743981 501(C)(3) 7025 OPERATING SUPPORT UNCG PO BOX 26170 GREENSBORO NC 27402 566001468 501(C)(3) 100000 NURSING SCHOLARSHIP UNITED WAY OF GREATER GREENSBORO 1500 YANCEYVILLE STREET GREENSBORO NC 27405 560668555 501(C)(3) 11550 OPERATING SUPPORT WELL-SPRING FOUNDATION 4100 WELL SPRING DRIVE GREENSBORO NC 27410 562217797 501(C)(3) 540000 OPERATING SUPPORT GREENSBORO DAY SCHOOL 5401 LAWNDALE AVENUE GREENSBORO NC 27455 560949932 501(C)(3) 5000 OPERATING SUPPORT PACE OF GUILFORD & ROCKINGHAM COUNTIES 1471 E CONE BLVD GREENSBORO NC 27455 271560334 501(C)(3) 11986 FMV FOOD SERVICE SUPPORT OPERATING SUPPORT 12 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: WELL-SPRING RETIREMENT COMMUNITY RECEIVES PERIODIC REPORTS FOR THE ORGANIZATION TO WHOM FUNDS WERE DONATED TO ESTABLISH SCHOLARSHIPS. X X X X 0 0 0 0 0 0 0 0 0 STEPHEN P FLEMING 197730 0 19500 0 4223 0 6737 0 20490 0 248680 0 0 0 K ALAN TUTTEROW 126967 0 9912 0 10790 0 4450 0 18017 0 170136 0 0 0 HEALTH CARE FACILITIES FIRST MORTGAGE REVENUE REFUNDING BONDS SERIES 2003C 521309402 NONEAVAIL 2010-11-10 7065000 TO REFUND THE 2003C BONDS 0 0 0 NC MEDICAL CARE COMMISSION (SERIES 2003ABC) 521309402 657902M58 2003-12-23 27437618 PARTIAL REFUNDING OF 1997 BONDS 1 0 0 1998 1 0 1 1 3338456 4021219 548752 1998 0 0 1 1 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 BEFORE THE FILING OF THE INFORMATION TAX RETURN 990 FOR WELL-SPRING RETIREMENT COMMUNITY, THE FORM 990 WAS REVIEWED IN DETAIL BY THE CHIEF FINANCIAL OFFICER AND CHIEF EXECUTIVE OFFICER. EACH MEMBER OF THE WELL-SPRING RETIREMENT COMMUNITY'S BOARD OF TRUSTEES WAS PROVIDED WITH A COPY OF WELL-SPRING RETIREMENT COMMUNITY'S FORM 990 PRIOR TO FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE TRUSTEES SHALL COMPLETE AND RETURN TO THE SECRETARY AN ANNUAL STATEMENT THAT EACH OF THEM: (A) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; (B) HAS READ AND UNDERSTANDS THE POLICY; (C) AGREES TO COMPLY WITH THIS POLICY; (D) UNDERSTANDS THAT THE POLICY APPLIES TO ALL COMMITTEES; AND (E) UNDERSTANDS THAT THE ORGANIZATION IS A CHARITABLE ORGANIZATION AND MUST CONTINUOUSLY ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 PRESIDENT/CEO COMPENSATION: IT SHALL BE THE POLICY OF WELL-SPRING RETIREMENT COMMUNITY TO ANNUALLY REVIEW THE PERFORMANCE OF THE PRESIDENT AND CEO UNLESS CIRCUMSTANCES DEMAND MORE FREQUENT REVIEW INTERVALS. THE PRESIDENT/CEO'S REVIEW SHALL BE CONDUCTED BY THE BOARD OF TRUSTEES; HOWEVER THE BOARD OF TRUSTEES MAY DELEGATE THIS FUNCTION TO ITS COMPENSATION COMMITTEE. PROCEDURES FOR SETTING COMPENSATION: 1. A BOARD OF TRUSTEES COMPENSATION COMMITTEE SHALL BE APPOINTED ANNUALLY BY THE BOARD CHAIR. THE COMMITTEE SHALL BE COMPRISED OF THE CURRENT CHAIR, IMMEDIATE PAST CHAIR, CHAIR-ELECT (IF ANY) AND 1-2 TRUSTEES AT LARGE. 2. THE COMMITTEE SHALL MEET APPROXIMATELY THIRTY DAYS PRIOR TO THE END OF THE WELL-SPRING RETIREMENT COMMUNITY'S FISCAL YEAR. 3. PRIOR TO THE MEETING, THE PRESIDENT/CEO SHALL PROVIDE COMPARABLE SALARY AND BENEFIT DATA THROUGH EXTERNAL SOURCES SUCH AS: THE AAHSA SALARY AND BENEFIT REPORT, NCANPHA WAGE SURVEY, PUBLIC RECORD IRS FORM 990S, AND INDEPENDENT SURVEYS. 4. PRIOR TO THE MEETING, THE PRESIDENT/CEO SHALL PROVIDE A STATEMENT OF ACHIEVEMENTS COMPARED TO GOALS FOR THE CURRENT YEAR AND A PRELIMINARY LIST OF PERFORMANCE GOALS FOR THE SUCCEEDING YEAR. 5. AT THE MEETING, THE PRESIDENT/CEO SHALL INFORM THE COMMITTEE OF PROPOSED SALARY ADJUSTMENTS FOR SENIOR MANAGEMENT FOR THE SUCCEEDING YEAR. THE PRESIDENT/CEO MAY PRESENT COMPARABLE SALARY DATA FOR SENIOR MANAGEMENT AT THE COMMITTEE'S DISCRETION. 6. AT THE MEETING AND AFTER PRESENTING YEAR-END RESULTS AND SUCCEEDING YEAR GOALS, THE COMMITTEE MAY EXCUSE THE PRESIDENT/CEO, ENTER INTO EXECUTIVE SESSION AND DISCUS THE PRESIDENT/CEO'S PERFORMANCE AND COMPENSATION. 7. AT THE CONCLUSION OF THE MEETING, THE BOARD OF TRUSTEES' CHAIR SHALL MEET WITH THE PRESIDENT/CEO IN ORDER TO REVIEW THE COMMITTEE'S ASSESSMENT OF PERFORMANCE AND SALARY. SALARY ADJUSTMENTS TO THE PRESIDENT/CEO'S COMPENSATION SHALL BE AUTHORIZED BY SIGNATURE OF THE BOARD CHAIR OR VICE CHAIR ONLY. 8. AT THE FIRST BOARD OF TRUSTEES' MEETING FOLLOWING THE COMPENSATION COMMITTEE'S MEETING, THE BOARD OF TRUSTEES' CHAIR SHALL REPORT THE COMMITTEE'S FINDINGS AND THE COMMITTEE'S ACTIONS REGARDING EMPLOYMENT STATUS, RECOMMENDATIONS AND SALARY OR BENEFIT ADJUSTMENTS FOR THE PRESIDENT/CEO. EXECUTIVE MANAGERS COMPENSATION PHILOSOPHY OBJECTIVE: THE COMPENSATION COMMITTEE BELIEVES THAT THE PRIMARY OBJECTIVES OF WELL-SPRING'S EXECUTIVE COMPENSATION POLICIES SHOULD BE: -TO ATTRACT AND RETAIN TALENTED EXECUTIVES BY PROVIDING COMPENSATION THAT IS, OVERALL, HIGHLY COMPETITIVE WITH THE COMPENSATION PROVIDED TO EXECUTIVES AT COMPANIES OF COMPARABLE POSITION IN THE CONTINUING CARE RETIREMENT COMMUNITY FIELD, WHILE MAINTAINING COMPENSATION WITHIN LEVELS THAT ARE CONSISTENT WITH WELL-SPRING'S ANNUAL BUDGET, FINANCIAL OBJECTIVES, OPERATING PERFORMANCE AND RESIDENT AND STAFF SATISFACTION; AND -TO PROVIDE APPROPRIATE INCENTIVES FOR EXECUTIVES TO WORK TOWARD THE ACHIEVEMENT OF WELL-SPRING'S ANNUAL FINANCIAL PERFORMANCE AND BUSINESS GOALS BASED ON WELL-SPRING'S ANNUAL BUDGET. THE COMPENSATION COMMITTEE REVIEWS EXECUTIVE COMPENSATION POLICIES ANNUALLY TAKING INTO CONSIDERATION WELL-SPRING'S FINANCIAL PERFORMANCE, ITS ANNUAL BUDGET, ITS POSITION IN THE INDUSTRY AND WELL-SPRING'S MISSION STATEMENT AND CORE VALUES. THE COMPENSATION COMMITTEE BELIEVES THAT IN ADDITION TO CORPORATE PERFORMANCE, IT IS APPROPRIATE IN SETTING AND REVIEWING EXECUTIVE COMPENSATION TO CONSIDER THE LEVEL OF EXPERIENCE AND RESPONSIBILITIES OF EACH EXECUTIVE OFFICER AS WELL AS THE PERSONAL CONTRIBUTIONS A PARTICULAR INDIVIDUAL AMY MAKE TO THE SUCCESS OF WELL-SPRING RETIREMENT COMMUNITY, INC. FORM 990, PART VI, SECTION C, LINE 19 WELL-SPRING RETIREMENT COMMUNITY'S FINANCIAL STATEMENTS ARE CONSOLIDATED WITH THOSE OF WELL-SPRING FOUNDATION. INCLUDED WITH THE AUDITED FINANCIAL STATEMENTS ARE SCHEDULES WHICH SHOW STAND ALONE FIGURES FOR BOTH WELL-SPRING FOUNDATION AND WELL-SPRING RETIREMENT COMMUNITY. THE CONSOLIDATED FINANCIAL STATEMENTS ARE PART OF WELL-SPRING'S ANNUAL DISCLOSURE STATEMENT WHICH IS FILED WITH THE NC DEPARTMENT OF INSURANCE. THE NC DEPARTMENT OF INSURANCE POST ALL DISCLOSURE STATEMENTS ON THEIR WEB SITE. THE CONSOLIDATED FINANCIAL STATEMENTS ARE FILED ANNUALLY WITH THE SEC VIA EMMA (ELECTRONIC MUNICIPAL MARKET ACCESS). ADDITIONALLY, COPIES OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -96,550. FOUNDATION NET ASSETS RELEASED 73,945. TOTAL TO FORM 990, PART XI, LINE 5: -22,605. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. FORM 990, PART VII, LINE 1A, COLUMN (B): AVERAGE HOURS PER WEEK LISTED IN COLUMN (B) INCLUDE HOURS UTILIZED TOWARDS BOTH THE FILING ORGANIZATION AND RELATED ORGANIZATIONS. WELL-SPRING FOUNDATION 4100 WELL SPRING DRIVE GREENSBORO NC 27410 562217797 FUNDRAISING NC 501(C)(3) LINE 11A, I N/A 0 PACE OF GUILFORD & ROCKINGHAM COUNTIES INC 721 GREEN VALLEY ROAD GREENSBORO NC 27408 271560334 ALL INCLUSIVE ELDERLY CARE NC 501(C)(3) LINE 9 N/A 0 PACE OF SOUTHERN PIEDMONT INC 6133 THE PLAZA CHARLOTTE NC 28215 274683614 ALL INCLUSIVE ELDERLY CARE NC 501(C)(3) LINE 9 N/A 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 0 1 WELL SPRING FOUNDATION B 540000 CASH TRANSACTION WELL SPRING FOUNDATION R 159583 CASH TRANSACTION WELL SPRING FOUNDATION C 73945 CASH TRANSACTION