Worknet Inc

Analysis

Worknet Inc is a registered charity in United States, based in Honolulu, HI. It received its IRS tax-exemption ruling in February 2001, 25 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Worknet Inc reported income of $129k and spending of $115k, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $175k to $129k (-27%), an average of -7.5% a year. The sharpest change came in the year to December 2020, when income dropped by 36%. Over the whole period it spent 110% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Worknet Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 42nd percentile within HI. Charities of a similar size with the same main cause include Community Faith Outreach Ministries Inc ($128k), Lifestream Charities Inc ($129k) and Servicespace ($128k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 11% of the total. Other salaries and wages came to $63k. At year end it held assets of $35k against liabilities of $201k, net assets of -$166k.