Workforce Ventures

Murrieta, CAUnknown exempt organization EIN 84-5189116Files the 990-N e-Postcard (latest 2022). Last full Form 990: 2021.

On file with the IRSMurrieta, CA

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The organization's purpose is to advance Workforce development in priority occupations and sectors by creating and providing opportunities to low-income or underrepresented persons interested in growing careers that pay family sustaining wages with funding for education, wrap around services, mentoring, career readiness, and job placement support. The support comes in the form of providing income share arrangements to low-income or otherwise underrepresented persons for education or supportive services, and issuing transition bonds and/or social impact incentives to businesses to improve the quality of jobs for workers or improve inclusive recruiting, hiring, and Workforce development processes. Workforce Ventures also assists and consults with other organizations in developing and managing similar Workforce development financing programs. The income share arrangements have a pay-IT-forward mechanism that allow participants who obtain high paying jobs to help support future students.

Form 990 Part I, line 1, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 84-5189116) · Dispute this line
50¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest 990-N e-Postcard
The latest return is for FY2022, 4 tax years back.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average surplus $75K a year · 46% of revenue · last 2 filings
A surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
50%
of spending
50% of spending went to programs.
Pt IX · Ln 25 · col B
89.8 mo
of spending, in cash
89.8 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $350K
2 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Liabilities are 0% of assets.
Pt X · Ln 26
Independent board members
5
of 5 voting members
5 of 5 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$0
-100% vs prior year
Spent
$20K
To programs
50%
Net assets
$149K
By yearFY2021–FY2022
Revenue
$0
FY2022▼ -100%
Tap a bar for its year
Revenue by fiscal year
FY2021$325K
FY2022$0
Expenses
$20K
FY2022▼ -87%
Tap a bar for its year
Expenses by fiscal year
FY2021$156K
FY2022$20K
Net assets
$149K
FY2022▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2021$169K
FY2022$149K

From the FY2022 Form 990 (year ending June 2022) · see the original

Is it real?

Yes. Never revoked by the IRS. Files the 990-N e-Postcard (latest 2022). Last full Form 990: 2021.

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

Where the money goes

50 cents of each dollar spent went to programs.

Program services 50% · $10K Management & general 50% · $10K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice-Chair
$0Pt VII · Sec A
Member at Large
$0Pt VII · Sec A
Member at Large
$0Pt VII · Sec A
See Workforce Ventures executive salaries →

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 15aNo

Programs and updates

Develops careers for low-income individuals and improves jobs for businesses through education and support.

Questions for Workforce Ventures

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1 program · $10K · in their own filed words · FY2021
01

To advance workforce development in priority occupations and sectors by creating and providing opportunities to low-income or underrepresented persons interested in growing careers that pay family sustaining wages with funding for education, wrap around services, mentoring, career readiness, and job placement support.

Form 990 Part III, line 4, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 84-5189116) · Dispute this line
$10Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2020
Total grants receivedfrom 2 funders$350K
Grants paid · 1 grant · $100K · 2020–2020

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$0
Ln 12
Money outPt IX
$20K
Ln 25
Programscol B$10K
Managementcol C$10K
Owns and owesPt X
$149K
net assets · Ln 32
Cash and savingsLn 1–2$149K
Total assetsLn 16$149K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Total revenueLn 12$0
Assets in detailPt X, end of year
CashLn 1$149K
Cash and savings togetherLn 1–2$149K
Total assetsLn 16$149K
LiabilitiesLn 26$0
Net assetsLn 32$149K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$169K$149K
Total assetsLn 16$169K$149K
LiabilitiesLn 26$0$0
Net assetsLn 32$169K$149K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$17K$10K$7K
Accounting feesLn 11c$2K$2K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$8$8
Total functional expensesLn 25$20K$10K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest ViewingFiled with the IRS Aug 25, 2022 $0$20K−$20K$149K 990 PDF
FY2021Filed with the IRS Sep 27, 2021 $325K$156K$169K$169K 990 PDF

Files the 990-N e-Postcard (latest 2022). Last full Form 990: 2021. The 990-N has no money details, and postcard years before 2022 are not published by the IRS.

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2022 990
Part I · Summary $0 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $325,000$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $325,000$0
I-13 Grants and similar amounts paidPrior year $100,000$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $55,575$19,966
I-18 Total expensesPrior year $155,575$19,966
I-19 Revenue less expensesPrior year $169,425−$19,966
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $0 across 1 lines filed
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
Part IX · Statement of functional expenses $19,966 across 4 lines filed
IX-11a Management feesPrograms $10,000 · Management $7,425$17,425
IX-11c Accounting feesManagement $1,500$1,500
IX-23 InsuranceManagement $1,033$1,033
IX-24 Other expenses (24a–d)Management $8$8
IX-25 Total functional expensesPrograms $10,000 · Management $9,966 · Fundraising $0$19,966
Part X · Balance sheet $149,459 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $169,425$149,459
X-16 Total assetsStart of year $169,425$149,459
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $169,425$149,459
X-32 Total net assets or fund balancesStart of year $169,425$149,459
X-33 Total liabilities and net assetsStart of year $169,425$149,459
Part XI · Reconciliation of net assets $149,459 net assets at year end
XI-1 Total revenue$0
XI-2 Total expenses$19,966
XI-3 Revenue less expenses−$19,966
XI-4 Net assets at start of year$169,425
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$149,459

Form 990 e-file FY2022 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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