Worknet INC EIN 52-2267430

Worknet INC FY2022 filing

EIN  52-2267430 Public charity (501(c)(3)) Honolulu, HI
Form 990 (PDF)
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Size
<$100K
What they do
Provides job training, life skills, and support services to help people overcome barriers to employment.
Leadership
Charles B Williams · President/Director · $40K
Money in and out
$132K revenue, $120K expenses
Bottom line
92% program efficiency

Provides job training, life skills, and support services to help people overcome barriers to employment. For fiscal year 2022 it reported $132K in revenue, $120K in expenses, and $-179K in net assets.Pt I

Where the money goes · FY2022
Total revenue
$132K
Pt VIII · Ln 12
Total expenses
$120K
Pt IX · Ln 25
Net assets
$-179K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $11K
Where spending went · Part IX cols B–D
Program services $0.92 Management & general $0.08
Program efficiency
92%
of spending reaches programs
Operating runway
1.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
+9%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$132K
FY2022▲ +14%
Expenses
$120K
FY2022▼ -27%
Total assets
$24K
FY2022▲ +108%
Total liabilities
$203K
FY2022▼ -9%
Total revenue
$132K
Pt VIII · Ln 12
Total expenses
$120K
Pt IX · Ln 25
Net assets
$-179K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$11K
Total assetsPt X · Ln 16$24K
Program-expense ratioPt IX · col B92%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 44
Mission & Programs · Part III

Where the work happens

1 program service account for $111K of program spending, described in the organization's own filed words · FY2022.
01

Contract

Multiservices - employment training services - trained, counseled and placed inmates into full time employment.

$111Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWorknet INC
EINHdr · item D52-2267430
Principal addressHdr · item CHonolulu, HI
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MHI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEmployment (J22)
Ruling yearIRS BMFFeb 2001

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a4
Independent voting membersPt VI · Ln 1b4
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President/Director
$39,667Pt VII · Sec A
Vice-President/Director
$0Pt VII · Sec A
Treasuruer/Dirctr
$0Pt VII · Sec A
Seretary-Director
$0Pt VII · Sec A

Charles B Williams’s $28K as President/Director is at the 88th percentile of top reported officer pay among 290 <$100K 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Charles B Williams$27,800$11,667$39,667$56,000$51,333

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.

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Statement of Revenue

Part VIII
Program service revenue$79K · 60%
Contributions & grants$52K · 39%
Program service revenue60%$79K
Contributions & grants39%$52K
Other revenue$249
Total revenueLn 12$132K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.92 Management & general $0.08
Program services92%$111K
Management & general8%$10K
Total functional expensesLn 25$120K

Balance Sheet

Part X · end of year
CashLn 1$18K
Total assetsLn 16$24K
Total liabilitiesLn 26$203K
Total net assetsLn 32$-179K
Months of cash on handcomputed1.8

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $18K · Operating expenses/yr $120K
1.8 months
Where the money goes
Program services
Program services $111K · Total expenses $120K
92%
Management & General
Management & general $10K · Total expenses $120K
8%
Fundraising
Fundraising $0 · Total expenses $120K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $41K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $52K · Total revenue $132K
39%
Government reliance
Government grants — · Total revenue $132K
Earned-income share
Program service revenue $79K · Total revenue $132K
60%
Investment reliance
Investment income $0 · Total revenue $132K
0%
Program self-sufficiency
Program service revenue $79K · Total expenses $120K
66%
Growth & trend
Revenue growth (YoY)
This year $132K · Prior year $115K
+14%
Net-asset trend (YoY)
End of year $-179K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $132K · Expenses $120K
+9%
Liabilities-to-Assets
Total liabilities — · Total assets $24K
Net-asset ratio
Net assets $-179K · Total assets $24K
-746%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $24K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Charles B Williams · Reported title PRESIDENT/DIRECTOR · Highest reported compensation $40K · Total expenses $120K
33%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $81K · Total expenses $120K
67%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 92%
Overhead ratio 8%
Fundraising cost ratio 0%
Revenue growth 14%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$22K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$54K revenue · ⤓ 990 PDF
FY2023$129K revenue · ⤓ 990 PDF
FY2022$132K revenue · viewing · ⤓ 990 PDF
FY2021$115K revenue · ⤓ 990 PDF
FY2020$112K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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