Wellspring Advisors

Wellspring Advisors is a for-profit limited liability corporation (LLC) created to manage Wellspring Philanthropic Fund, a major center-left funding nonprofit. ² It’s been described by Philanthropy News Digest as a “consulting firm for anonymous donors.” ³ The company has also been described as a “private philanthropic advisory firm.” ⁴

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). ^{2 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

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. ²

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. ¹⁰ As of August 2019, Wellspring Philanthropic Fund has approximately 68 staffers, advisers, and consultants. ¹¹