Workforce Inc

Analysis

Workforce Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in February 2004, 22 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Workforce Inc reported income of $14.2m and spending of $8.5m, leaving 40% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.2m to $14.2m (+556%), an average of +60% a year. The sharpest change came in the year to June 2022, when income rose by 92%. Over the whole period it spent 69% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Workforce Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IN. Charities of a similar size with the same main cause include Campus Partners for Community Urban Redevelopment ($14.1m), Accion Social de Puerto Rico Inc ($14.2m) and Micro Enterprise Services of Oregon ($14.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 81% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $124k (1.5% of expenses). At year end it held assets of $19.3m against liabilities of $8.6m, net assets of $10.7m.