Transcanwork Inc

Analysis

Transcanwork Inc is a registered charity in United States, based in W Hollywood, CA. It received its IRS tax-exemption ruling in August 2019, 7 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 December 2023, Transcanwork Inc reported income of $1.2m and spending of $1.1m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $333k to $1.2m (+251%), an average of +37% a year. The sharpest change came in the year to December 2021, when income rose by 70%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Transcanwork Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within CA. Charities of a similar size with the same main cause include Project H O M E Community Development Corporation ($1.2m), Clearwater Economic Development Association Inc ($1.2m) and Jewish Federation of Rockland County ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $124k (11% of expenses). Other salaries and wages came to $598k. At year end it held assets of $131k against liabilities of $89k, net assets of $41k. It reported 11 employees.