For-profit

Wellspring Advisors

Location:

New York, NY

Type:

Limited Liability Company

Manages:

Wellspring Philanthropic Fund

Managing Partner:

John R. Taylor [13]

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]

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
Grand Total:$142,656,331
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

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]

References

  1. “Wellspring Advisors, LLC – File No. L08493.” District of Columbia, Department of Consumer and Regulatory Affairs. Accessed August 15, 2019. https://corponline.dcra.dc.gov/BizEntity.aspx/ViewEntityData?entityId=2865739 ^
  2. “Anonymous Donors of More Than $1 Billion Revealed.” Philanthropy News Digest. May 9, 2014. Accessed July 18, 2019. https://philanthropynewsdigest.org/news/anonymous-donors-of-more-than-1-billion-revealed ^
  3. “Wellspring Advisors, LLC.” ZoomInfo. Accessed August 27, 2019. https://www.zoominfo.com/c/wellspring-advisors-llc/86311000 ^
  4. “Wellspring Advisors, LLC – File No. L08493.” District of Columbia, Department of Consumer and Regulatory Affairs. Accessed August 15, 2019. https://corponline.dcra.dc.gov/BizEntity.aspx/ViewEntityData?entityId=2865739 ^
  5. “Business Entity Documents.” State of New Jersey Division of Revenue and Enterprise Services: Business Records Service (Wellspring Philanthropic Fund, Inc.). Accessed August 16, 2019. https://www.njportal.com/DOR/businessrecords/EntityDocs/BusinessCopies.aspx ^
  6. Return of Organization Exempt from Income Tax (Form 990-PF). Wellspring Philanthropic Fund. 2015. Part IX-B (Summary of Program-Related Investments).

    See additional information at the bottom of the page. ^

  7. Wellspring Philanthropic Fund (Matan B’Seter Foundation). 2016 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2014 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2013 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2012 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2011 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2010 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2009 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2008 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2007 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2006 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2005 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2004 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2003 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2002 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2001 IRS Form 990.

    Matan B’Seter Foundation (Wellspring Philanthropic Fund). 2000 IRS Form 990.

    All accessed July 22, 2019. https://projects.propublica.org/nonprofits/organizations/223692921 ^

  8. “Wellspring Philanthropic Fund: About Us.” Global Philanthropy Project. Accessed July 18, 2019. https://globalphilanthropyproject.org/about-us/gpp-members/wellspring/ ^
  9. “John R. Taylor.” ZoomInfo. Accessed August 27, 2019. Original URL: https://www.zoominfo.com/p/John-Taylor/1449159272. Archived here: https://www.influencewatch.org/app/uploads/2019/08/John-R.-Taylor.-ZoomInfo.-08.2019.pdf ^
  10. “Wellspring Advisors, LLC – File No. L08493.” District of Columbia, Department of Consumer and Regulatory Affairs. Accessed August 15, 2019. https://corponline.dcra.dc.gov/BizEntity.aspx/ViewEntityData?entityId=2865739 ^
  11. Return of Organization Exempt from Income Tax (Form 990). Wellspring Philanthropic Fund. Schedule A, Part I, Line 13. ^
  12. “Wellspring Philanthropic Fund.” LinkedIn. Accessed August 20, 2019. Original URL: https://www.linkedin.com/company/wellspring-advisors/people/. Archived here: https://www.influencewatch.org/app/uploads/2019/08/Wellspring-Phil-Fund-LinkedIn-Staff.-08.2019.png. ^
  13. “John R. Taylor.” ZoomInfo. Accessed August 27, 2019. https://www.zoominfo.com/p/John-Taylor/1449159272 ^

Directors, Employees & Supporters

  1. Andrew Shechtel
    Co-Founder (TGS Management)
  2. Joyce Malombe
    Senior Program Officer, International Children's Education
  3. John R. Taylor
    Managing Partner
  4. Rebecca Fox
    Program Officer
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Wellspring Advisors

10 Times Square
Suite 1600
New York, NY 10018