For more information, see Wellspring Philanthropic Fund (Nonprofit)
Wellspring Advisors is a for-profit limited liability corporation (LLC) created to manage Wellspring Philanthropic Fund, a major center-left funding nonprofit. [1] It’s been described by Philanthropy News Digest as a “consulting firm for anonymous donors.” [2] The company has also been described as a “private philanthropic advisory firm.” [3]
The firm was created in Delaware in May 2001; its closely associated private foundation, the Wellspring Philanthropic Fund, was incorporated in New Jersey in in 1999 (though the group considers its formation year 2001). [4] [5]
Contents
Relationship with Wellspring Philanthropic Fund
According to its IRS filing for 2016, Wellspring Advisors: [6]
provides operational, programmatic, administrative and grantmaking support to the foundation [Wellspring Philanthropic Fund]. Wellspring [Advisors] administer’s the foundation’s grantmaking program and interfaces with the foundation’s donor-advised fund grantees . . . . Wellspring staff members develop the foundation’s grantmaking strategy and programs, research potential recipients of advised grants from the foundation’s donor-advised fund accounts[, and] monitor the usage of grants advised by the foundation through its donor-advised fund accounts and performance of such grantees. Wellspring also manages and supports capacity building, convenings and other similar activities to support the effectiveness of the donor-advised fund grantees.
Funding
Payments from Wellspring Philanthropic Fund
From 2001 to 2017, Wellspring Advisors received approximately $142 million in contractor fees from Wellspring Philanthropic Fund (a.k.a. Matan B’Seter Foundation). [7] In January 2018, Wellspring Advisors became an arm of the Wellspring Philanthropic Fund. [8]
| Payments to Wellspring Advisors | |
|---|---|
| 2017 | $18,954,000 |
| 2016 | $18,450,385 |
| 2015 | $16,078,000 |
| 2014 | $15,522,000 |
| 2013 | $13,886,000 |
| 2012 | $12,988,000 |
| 2011 | $11,433,854 |
| 2010 | $8,182,396 |
| 2009 | $7,830,000 |
| 2008 | $5,354,167 |
| 2007 | $4,108,333 |
| 2006 | $3,409,302 |
| 2005 | $2,103,656 |
| 2004 | $1,816,534 |
| 2003 | $1,232,944 |
| 2002 | $880,519 |
| 2001 | $426,241 |
| Grand Total: | $142,656,331 |
Leadership
John R. Taylor is the managing partner of Wellspring Advisors and founder of Wellspring Philanthropic Fund. Business profiles online suggest Taylor previously worked for Berger & Montague P.C. from 1989-1997 and as a litigator for Dechert LLP from 1986 to 1989. [9]
Board of Directors
According to filings with the District of Columbia, Wellspring Advisors is managed by four governors: Adam Barber, John Reid Taylor, William Myles Taylor, and Raymond Eng. [10]
Key Staff
For more information, see Wellspring Philanthropic Fund (Key Staff)
Employee profiles strongly suggest that Wellspring Philanthropic Fund, the foundation, shares staffers with its associated for-profit consulting firm, Wellspring Advisors. Wellspring Philanthropic Fund’s IRS filing for 2017 reports paying nothing ($0) in employee salaries, benefits, or other compensation. [11] As of August 2019, Wellspring Philanthropic Fund has approximately 68 staffers, advisers, and consultants. [12]
