New Workforce Directions INC FY2023 filing

Tax-deductible

Tulsa, OK501(c)(3)EmploymentEIN 27-2323749

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Madison strategies group's mission is to build and strengthen job skills, see sch "o"madison strategies group's mission is to build and strengthen the talent and skill of those job seekers we serve. We empower job seekers with the ability to effectively meet the needs of our employer partners. By investing and engaging in innovative solutions and partnerships, we provide hope for those we serve, our business partners, and the community at large.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$285K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $97K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$285K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $1.3M
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$567K
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.0M
-48% vs prior year
Spent
$3.9M
To programs
90%
Net assets
$2.6M
By yearFY2020–FY2024
Revenue
$2.0M
FY2023▼ -48%
Revenue by fiscal year
FY2020$3.0M
FY2021$5.0M
FY2022$3.8M
FY2023$2.0M
FY2024$3.6M
Expenses
$3.9M
FY2023▲ +2%
Expenses by fiscal year
FY2020$2.3M
FY2021$3.0M
FY2022$3.9M
FY2023$3.9M
FY2024$3.9M
Net assets
$2.6M
FY2023▼ -43%
Net assets by fiscal year
FY2020$2.5M
FY2021$4.6M
FY2022$4.5M
FY2023$2.6M
FY2024$2.3M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2011.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $3.5M Management & general 8% · $330K Fundraising 1% · $54K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990; $285K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$180,824Pt VII · Sec A
$104,300Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Karen Pennington’s $193K as Executive Director is at the 82nd percentile of top reported officer pay among 1245 $1–10M employment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Karen Pennington$192,663$180,824$164,447$156,192$112,217
Steve Tumpkin$110,620$104,300———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See New Workforce Directions INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Builds and strengthens job skills for seekers, empowering them to meet employer needs.

Provided by the organization

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1 program · $3.5M · in their own filed words · FY2023
01

Madison strategies group's mission is to build and strengthen job skills, see schedule "o" for DETAIL.MADISON strategies group operates multiple workforce development programs in tulsa that provide underserved residents with no-cost education, employment, and advancement opportunities that lead to greater financial security and economic…

$3.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 4 funders$1.3M
See all 4 funders →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$2.0M
Ln 12
Gifts and grantsLn 1h$2.0M
Fees for servicesLn 2g$12K
Money outPt IX
$3.9M
Ln 25
Programscol B$3.5M
Managementcol C$330K
Fundraisingcol D$54K
Owns and owesPt X
$2.6M
net assets · Ln 32
Cash and savingsLn 1–2$892K
Total assetsLn 16$3.1M
LiabilitiesLn 26$567K
PeoplePt VI, VII
14
listed · VII A
PaidVII A2
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0M
Government grantsLn 1e$1.5M
Fees for servicesLn 2g$12K
Total revenueLn 12$2.0M
Assets in detailPt X, end of year
CashLn 1$892K
Cash and savings togetherLn 1–2$892K
Land, buildings, equipmentLn 10c$705K
Other assetsLn 15$427K
Total assetsLn 16$3.1M
LiabilitiesLn 26$567K
Net assetsLn 32$2.6M
OperationsPt I, VI
EmployeesI 538
VolunteersI 612
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$476K$892K
Land, buildings, equipmentLn 10c$1.7M$705K
Total assetsLn 16$5.1M$3.1M
LiabilitiesLn 26$609K$567K
Net assetsLn 32$4.5M$2.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$181K$170K$5K$5K
Other salaries and wagesLn 7$1.3M$1.3M$39K$39K
Other employee benefitsLn 9$139K$132K$3K$4K
Payroll taxesLn 10$109K$105K$2K$3K
Accounting feesLn 11c$110K$110K
Other fees for servicesLn 11g$239K$234K$5K
Office expensesLn 13$119K$98K$21K
OccupancyLn 16$226K$150K$76K
TravelLn 17$12K$12K
Depreciation, depletion and amortizationLn 22$402K$382K$16K$4K
InsuranceLn 23$15K$10K$5K
Other expenses (24a–d)Ln 24$1.0M$983K$42K
All other expensesLn 24e$6K$6K
Total functional expensesLn 25$3.9M$3.5M$330K$54K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.6M$3.9M−$300K$2.3M 990 PDF
FY2023 Viewing $2.0M$3.9M−$1.9M$2.6M 990 PDF
FY2022 $3.8M$3.9M−$58K$4.5M 990 PDF
FY2021 $5.0M$3.0M$2.1M$4.6M 990 PDF
FY2020 $3.0M$2.3M$737K$2.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $1,982,898 across 5 lines filed
VIII-1e Government grants$1,499,686
VIII-1f All other contributions, gifts and grants$470,712
VIII-1h Total contributions, gifts and grants$1,970,398
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $12,500$12,500
VIII-12 Total revenueRelated to mission $12,500 · Unrelated business $0 · Excluded from tax $0$1,982,898
Part IX · Statement of functional expenses $3,928,575 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $170,385 · Management $5,255 · Fundraising $5,184$180,824
IX-7 Other salaries and wagesPrograms $1,267,134 · Management $39,079 · Fundraising $38,555$1,344,768
IX-9 Other employee benefitsPrograms $132,177 · Management $3,449 · Fundraising $3,511$139,137
IX-10 Payroll taxesPrograms $104,786 · Management $1,513 · Fundraising $2,995$109,294
IX-11c Accounting feesManagement $109,932$109,932
IX-11g Other fees for servicesPrograms $233,527 · Management $5,000$238,527
IX-13 Office expensesPrograms $98,010 · Management $21,316$119,326
IX-16 OccupancyPrograms $150,309 · Management $75,814$226,123
IX-17 TravelPrograms $12,164$12,164
IX-22 Depreciation, depletion and amortizationPrograms $382,066 · Management $16,087 · Fundraising $4,022$402,175
IX-23 InsurancePrograms $10,115 · Management $5,259$15,374
IX-24 Other expenses (24a–d)Programs $983,185 · Management $41,989$1,025,174
IX-24e All other expensesManagement $5,757$5,757
IX-25 Total functional expensesPrograms $3,543,858 · Management $330,450 · Fundraising $54,267$3,928,575
Part X · Balance sheet $3,127,645 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $475,971$892,427
X-3 Pledges and grants receivableStart of year $2,899,038$1,032,051
X-9 Prepaid expenses and deferred chargesStart of year $54,260$71,551
X-10c Land, buildings and equipment, netStart of year $1,686,541$704,669
X-15 Other assetsStart of year $0$426,947
X-16 Total assetsStart of year $5,115,810$3,127,645
X-17 Accounts payable and accrued expensesStart of year $155,948$190,395
X-25 Other liabilitiesStart of year $453,178$376,243
X-26 Total liabilitiesStart of year $609,126$566,638
X-27 Net assets without donor restrictionsStart of year $3,357,193$2,024,854
X-28 Net assets with donor restrictionsStart of year $1,149,491$536,153
X-32 Total net assets or fund balancesStart of year $4,506,684$2,561,007
X-33 Total liabilities and net assetsStart of year $5,115,810$3,127,645
Part XI · Reconciliation of net assets $2,561,007 net assets at year end
XI-1 Total revenue$1,982,898
XI-2 Total expenses$3,928,575
XI-3 Revenue less expenses−$1,945,677
XI-4 Net assets at start of year$4,506,684
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,561,007

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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