Workwell Industries Inc

Analysis

Workwell Industries Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in March 1980, 46 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 May 2023, Workwell Industries Inc reported income of $3.7m and spending of $3.5m, spending 95% of its income. Across the 5 years on record, from May 2019 to May 2023, income fell from $4.1m to $3.7m (-10%), an average of -2.6% a year. The sharpest change came in the year to May 2022, when income rose by 17%. Over the whole period it spent 95% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Workwell Industries Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within KY. Charities of a similar size with the same main cause include Rise Academy ($3.7m), Wasatch Community Gardens ($3.7m) and Regenesis Institute ($3.7m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 15% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $158k (4.5% of expenses). Other salaries and wages came to $1.5m. It paid $9,000 in professional fundraising fees. At year end it held assets of $3.2m against liabilities of $1.4m, net assets of $1.9m. It reported 133 employees.