Workmoney Foundation Inc

Analysis

Workmoney Foundation Inc is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in August 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 December 2023, Workmoney Foundation Inc reported income of $17.3m and spending of $11.8m, leaving 31% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $3.4m to $17.3m (+405%), an average of +405% a year. The sharpest change came in the year to December 2023, when income rose by 405%. Over the whole period it spent 57% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Workmoney Foundation Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within WI. Charities of a similar size with the same main cause include Putnam County Comprehensive Services Inc ($17.3m), Puget Sound Regional Services ($17.3m) and Eight Cap Inc ($17.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $119k (1.0% of expenses). Other salaries and wages came to $251k. It paid $217k in professional fundraising fees. At year end it held assets of $9.1m against liabilities of $240k, net assets of $8.8m.