Work Services Corporation

Analysis

Work Services Corporation is a registered charity in United States, based in Wichita Falls, TX. It received its IRS tax-exemption ruling in December 1989, 37 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, Work Services Corporation reported income of $46.1m and spending of $44.6m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $33.2m to $46.1m (+39%), an average of +8.5% a year. Over the whole period it spent 92% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Work Services Corporation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include GRHS Foundation Inc ($46.0m), Goodwill Central Coast ($46.1m) and Goodwill Industries of the Columbia ($45.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $770k (1.7% of expenses). Other salaries and wages came to $26.7m. At year end it held assets of $68.3m against liabilities of $4.2m, net assets of $64.1m. It reported 1,233 employees.