These are the detailed financial statements behind our End of FY 2025/26 Financial Report. Select a tab to view each statement. Each statement is followed by notes that explain the numbers. All figures are for the fiscal year September 1, 2025 through August 31, 2026, unless noted otherwise.

Balance Sheet

Balance Sheet (as of August 31, 2026)

Wellspring remains in a very strong financial position. Total assets grew with the purchase of two properties next to the church: 3830 S. Acoma in May and 3839 S. Broadway in June. After year end, Wellspring also closed on 3843 S. Broadway (September 29, 2026). We bought all three properties to make room for growth in both ministry programs and support services. After these purchases, our cash position remains strong. Our long-term note payable (mortgage) balance now stands at $672,915.

Amounts are shown to the nearest dollar, as in our accounting reports.

Notes to the Balance Sheet

Note 1. Other Current Assets. The August 31, 2025 balance includes deposits in transit of $195k (deposits recorded before year end that had not yet cleared the bank).

Note 2. Total Fixed Assets. Includes the purchase of two properties during the 2025/26 fiscal year.

← Back to the report: FY 2025/26 Financial Report

2025/26 Budget vs. Actual

2025/26 Budget vs. Actual

Positive variances are favorable (more income or less spending than budgeted). Negative variances, shown in parentheses, are unfavorable.

Amounts are shown to the nearest dollar, as in our accounting reports.

Notes to the Budget vs. Actual

Note 3. General Giving. General giving finished $1,003,748 above budget, for two reasons. First, extraordinary gifts (single gifts of $50,000 or more) made up $825,000 of the positive variance. Second, the number of donors grew by 9%, and giving per donor grew by 3.5%.

Note 4. Other General Income. Other income is made up of interest and special events income, such as camps and retreats.

Note 5. Ministry Expenses. Total ministry expenses were $22,098 (8.97%) over budget. This reflects the ongoing disruption and changes caused by the construction project. In addition, an open position in the Worship department meant bringing in guest worship leaders, which raised the department's costs. The same open position helped produce payroll savings, which partly offset these costs (see Note 6).

Note 6. Payroll. Payroll is the largest expense in our budget (53.33% of total general expense), and it receives careful stewardship from the management team. Payroll came in $80,287 (4.06%) under budget, mostly because of savings from open positions and the move of financial controller fees from payroll to administration (see Note 7).

Note 7. Administration. Administration was $98,196 over budget for the year. There were two unbudgeted expenses: the 25th anniversary celebration and recruiting fees for a new leadership position. Financial controller fees were also moved from payroll to administration.

Note 8. Property. Property expenses were $51,700 over budget because of repairs and maintenance on the two properties purchased during the year. During construction, the property at 3839 S. Broadway has served as office space for our five-person operations team.

Note 9. Diocesan Tithe. Our tithe to the Diocese is 10% of general giving. Because general giving was $1,003,748 over budget, the tithe was $100,375 over budget.

Note 10. Net General Income. Net general income does not include income or losses from designated funds, which are reported separately (see Note 11). The budget projected a net general loss of $184,140. Actual net general income was $669,224, a positive variance of $853,364.

Note 11. Net Designated Fund Income. Net designated fund income is designated giving minus spending from those funds. The Board of Directors sets up designated funds for specific purposes, and donors can direct their gifts to them. We have four donor-designated funds: the Well Homeless Fund, the Deacons Fund, the 3 Streams Institute Fund, and the Stephen Ministries Fund. Last year, designated giving fell $95,374 short of designated spending. The 3 Streams Institute Fund spent $132,955 more than it received. Giving to the other three funds was greater than their spending, which offset part of that shortfall. The 3 Streams Institute Fund balance covered its shortfall, going from $431,074 at the beginning of the year to $298,118 at year end. The Board also maintains a separate Sabbatical Reserve, which had a balance of $46,547 at year end. See the 2025/26 Designated Funds tab.

Note 12. Net Income. Net income was $573,850. That is $757,990 better than the budgeted loss of $184,140, mainly because general giving came in so far above budget. Net income excludes the Confidential Project (the construction project), which is fully funded by a generous donation to Wellspring.

← Back to the report: FY 2025/26 Financial Report

2026/27 Proposed Budget

2026/27 Proposed Budget

The proposed budget covers September 1, 2026 through August 31, 2027. Change is the FY 2026/27 budget minus FY 2025/26 actual; decreases are shown in parentheses. Percentages are calculated from the dollar amounts.

Amounts are shown to the nearest dollar, as in our accounting reports, so some totals may differ from the sum of their parts by $1.

Notes to the Proposed Budget

Note 13. General Giving. We propose budgeting general giving at $3,600,000, compared with actual FY 2025/2026 giving of $4,103,748. This reflects the Board's conservative approach. The budget does count on last year's growth in donors and giving per donor continuing. However, it heavily discounts last year's extraordinary giving, so day-to-day operations don't depend on extraordinary gifts. If Wellspring receives major extraordinary gifts this year, those funds can go toward capital projects and paying down debt.

Note 14. Payroll. Payroll is budgeted at $2,124,697, an increase of $229,193 (12.09%) over FY 2025/26 actual payroll of $1,895,504. The increase reflects added leadership in Human Resources and added depth in our Worship Ministry.

Note 15. Administration. Administrative costs are budgeted at $390,845, an increase of $88,467 over FY 2025/26. Costs are going up because of rising insurance costs and because financial controller costs have moved from payroll to administration.

Note 16. Property. Property costs, including utilities, janitorial, maintenance, and repairs, are budgeted at $328,071, an increase of $62,656. This is because of the new space (the lobby, several new offices, and the renovation of the Well) and the three properties we've acquired.

Note 17. Net General Income. Net general income includes $258,553 of depreciation and amortization, which are non-cash expenses. On paper, this results in an accounting loss of $244,356.

Note 18. Net Designated Fund Income. Net designated fund income is budgeted to break even, meaning designated giving will fully cover designated spending.

Note 19. Net Income Excluding Non-Cash Expenses. Leaving out non-cash expenses, the budget shows a modest cash surplus of $14,197, which is essentially break-even.

← Back to the report: FY 2025/26 Financial Report

2025/26 Designated Funds