Workforce Midsouth Inc

Analysis

Workforce Midsouth Inc is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in February 2022, 4 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Workforce Midsouth Inc reported income of $12.7m and spending of $13.2m, spending 104% of its income. Across the 3 years on record, from June 2021 to June 2023, income grew from $10.5m to $12.7m (+21%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 26%. Over the whole period it spent 101% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Workforce Midsouth Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within TN. Charities of a similar size with the same main cause include Tremont Monterey Day Care Center Inc ($12.7m), Independent Living Services Inc ($12.7m) and Terrebonne Arc ($12.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $2.2m against liabilities of $2.5m, net assets of -$329k. It reported 30 employees.