Workforce Resource Inc

Analysis

Workforce Resource Inc is a registered charity in United States, based in Wichita Falls, TX. It received its IRS tax-exemption ruling in July 2005, 21 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 September 2023, Workforce Resource Inc reported income of $13.1m and spending of $13.1m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $8.1m to $13.1m (+63%), an average of +13% a year. The sharpest change came in the year to September 2022, when income rose by 32%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Workforce Resource 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 97th percentile within TX. Charities of a similar size with the same main cause include Fashion Center District Management Association Inc ($13.0m), World Business Chicago ($13.1m) and United Housing Connections ($13.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $81k (0.6% of expenses). Other salaries and wages came to $366k. At year end it held assets of $3.8m against liabilities of $3.3m, net assets of $456k. It reported 9 employees.