Worksource Enterprises

Analysis

Worksource Enterprises is a registered charity in United States, based in Danville, IL. It received its IRS tax-exemption ruling in August 1971, 55 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, Worksource Enterprises reported income of $2.4m and spending of $2.3m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.3m to $2.4m (+2.6%), an average of +0.7% a year. The sharpest change came in the year to June 2020, when income rose by 113%. 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, Worksource Enterprises sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within IL. Charities of a similar size with the same main cause include Middle Georgia Consortium Inc ($2.4m), Itasca Economic Development Corporation ($2.4m) and Cincinnati Goodwill Work Services Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 0.6% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $8.4m against liabilities of $858k, net assets of $7.6m. It reported 97 employees.