WELL-SPRING RETIREMENT COMMUNITY INC
Programs
Program 1 [2020]
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 17 INDIVIDUALS, WHO SERVE WITHOUT COMPENSATION FOR STAGGERED THREE-YEAR TERMS. A MULTI-DENOMINATIONAL GROUP OF CHURCHES IN GREENSBORO, NORTH CAROLINA INITIALLY SPONSORED AND PROVIDED 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.GeographiesNot indicatedDatesJan 1, 2020 – Dec 31, 2020Source990No causes providedNo populations provided–$28MContinuing Care Retirement Community
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 25 INDIVIDUALS WHO SERVE WITHOUT COMPENSATION FOR STAGGERED THREE-YEAR TERMS. A MULTI-DENOMINATIONAL GROUP OF CHURCHES IN GREENSBORO NORTH CAROLINA INITIALLY SPONSORED AND PROVIDED 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 501C 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.GeographiesNot indicatedDatesJan 1, 2024 – Dec 31, 2024Source990No causes providedNo populations provided–$37.7M
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