Keys 2 Work INC FY2024 filing

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Please see schedule o. The corporation is organzied exclusively to promote the charitable purposes and goals of workforce, INC. That mission is to promote, organize, participate in, develop, sponsor, and/or operate various programs focused on workforce development and placement as an economic development strategy, to educate and train ex-offenders in the skilled labor trade of electronics recycling, to invest in this workforce as a means to reducing the skilled labor shortage, and to reduce criminal recidivism rates in indiana.

Form 990 Part I, line 1, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 85-0832235) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $241K a year · 8% of revenue · last 5 filings
A surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
88% of spending went to programs.
Pt IX · Ln 25 · col B
3.5 mo
of spending, in cash
3.5 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $302K
2 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$1.7M
64% of total assets
Liabilities are 64% of assets.
Pt X · Ln 26
Independent board members
7
of 7 voting members
7 of 7 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$4.7M
+93% vs prior year
Spent
$4.3M
To programs
88%
Net assets
$988K
By yearFY2021–FY2025
Revenue
$4.7M
FY2024▲ +93%
Tap a bar for its year
Revenue by fiscal year
FY2021$168K
FY2022$1.4M
FY2023$2.5M
FY2024$4.7M
FY2025$6.4M
Expenses
$4.3M
FY2024▲ +98%
Tap a bar for its year
Expenses by fiscal year
FY2021$148K
FY2022$1.2M
FY2023$2.2M
FY2024$4.3M
FY2025$6.2M
Net assets
$988K
FY2024▲ +92%
Tap a bar for its year
Net assets by fiscal year
FY2021$20K
FY2022$207K
FY2023$514K
FY2024$988K
FY2025$1.2M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2020.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $3.7M Management & general 12% · $497K Fundraising 1% · $29K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
President, Board Member
$0Pt VII · Sec A
See Keys 2 Work INC 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

Trains ex-offenders in electronics recycling for jobs, reducing recidivism and skilled labor shortages.

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1 program · $3.7M · in their own filed words · FY2023
01

Keys2Work INC. Is a type 1 supporting organization of workforce INC. Workforce, INC. DBA recycleforce focuses on a triple bottom line to measure success: social, environmental, and economic.

Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 85-0832235) · Dispute this line
$3.7Mprogram 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 2 funders$302K

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $3.3M federal money spent
Reentry Employment OpportunitiesDepartment of Labor · ALN 17.270 · Direct and through Workforce, INC. D/B/A Recycleforce$2.9M
Coronavirus State and Local Fiscal Recovery FundsDepartment of the Treasury · ALN 21.027 · Through Indianapolis Private Industry Council, INC. DBA Employindy American Rescue Plan Act$300K
Community Project Funding/Congressionally Directed SpendingDepartment of Labor · ALN 17.289 · Through Workforce, INC. D/B/A Recycleforce$25K
Brownfields Job Training Cooperative AgreementsEnvironmental Protection Agency · ALN 66.815 · Through Workforce, INC. D/B/A Recycleforce$17K
Wioa Youth ActivitiesDepartment of Labor · ALN 17.259 · Direct$15K

The auditor reported no findings.

Year ending Jun 2024 · $1.5M federal money spent
Reintegration of Ex-OffendersDepartment of Labor · ALN 17.270 · Direct and through Workforce, INC. D/B/A Recycleforce$1.4M
Wia Youth ActivitiesDepartment of Labor · ALN 17.259 · Direct$45K
Environmental Workforce Development and Job Training Cooperative AgreementsEnvironmental Protection Agency · ALN 66.815 · Through Workforce, INC. D/B/A Recycleforce$15K
Community Services Block Grant_discretionary AwardsDepartment of Health and Human Services · ALN 93.570 · Through Workforce, INC. D/B/A Recycleforce$9K
Niehs Hazardous Waste Worker Health and Safety TrainingDepartment of Health and Human Services · ALN 93.142 · Through Workforce, INC. D/B/A Recycleforce$1K

The auditor reported no findings.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$4.7M
Ln 12
Fees for servicesLn 2g$2.7M
Gifts and grantsLn 1h$2.0M
Money outPt IX
$4.3M
Ln 25
Programscol B$3.7M
Managementcol C$497K
Fundraisingcol D$29K
Owns and owesPt X
$988K
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$2.7M
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.0M
Government grantsLn 1e$1.5M
Fees for servicesLn 2g$2.7M
Total revenueLn 12$4.7M
Assets in detailPt X, end of year
CashLn 1$1.3M
Cash and savings togetherLn 1–2$1.3M
Accounts receivableLn 4$376K
Prepaid expenses and deferred chargesLn 9$25K
Land, buildings, equipmentLn 10c$10K
Other assetsLn 15$1.1M
Total assetsLn 16$2.7M
LiabilitiesLn 26$1.7M
Net assetsLn 32$988K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$595K$1.3M
Land, buildings, equipmentLn 10c$0$10K
Total assetsLn 16$1.2M$2.7M
LiabilitiesLn 26$735K$1.7M
Net assetsLn 32$514K$988K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of officers and key staff (Part IX, line 5)Ln 5$155K$155K
Other salaries and wagesLn 7$2.5M$2.3M$202K$22K
Other employee benefitsLn 9$100K$65K$32K$4K
Payroll taxesLn 10$294K$279K$14K$2K
Advertising and promotionLn 12$14K$14K
Office expensesLn 13$7K$7K
OccupancyLn 16$89K$89K
TravelLn 17$19K$8K$11K
InterestLn 20$5K$5K
Depreciation, depletion and amortizationLn 22$1K$1K
InsuranceLn 23$15K$15K
Other expenses (24a–d)Ln 24$1.0M$932K$94K$560
All other expensesLn 24e$28K$15K$13K$866
Total functional expensesLn 25$4.3M$3.7M$497K$29K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Dec 23, 2025 $6.4M$6.2M$218K$1.2M 990 PDF
FY2024 ViewingFiled with the IRS Feb 25, 2025 $4.7M$4.3M$474K$988K 990 PDF
FY2023Filed with the IRS May 13, 2024 $2.5M$2.2M$308K$514K 990 PDF
FY2022Filed with the IRS May 10, 2023 $1.4M$1.2M$187K$207K 990 PDF
FY2021Filed with the IRS Mar 28, 2022 $168K$148K$20K$20K 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2024 990
Part I · Summary $4,746,686 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $997,133$2,034,928
I-9 Program service revenuePrior year $1,466,786$2,711,758
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,463,919$4,746,686
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,865,698$3,066,686
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $290,472$1,205,913
I-18 Total expensesPrior year $2,156,170$4,272,599
I-19 Revenue less expensesPrior year $307,749$474,087
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $4,746,686 across 5 lines filed
VIII-1e Government grants$1,468,812
VIII-1f All other contributions, gifts and grants$566,116
VIII-1h Total contributions, gifts and grants$2,034,928
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,711,758$2,711,758
VIII-12 Total revenueRelated to mission $2,711,758 · Unrelated business $0 · Excluded from tax $0$4,746,686
Part IX · Statement of functional expenses $4,272,599 across 13 lines filed
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $154,691$154,691
IX-7 Other salaries and wagesPrograms $2,293,640 · Management $201,566 · Fundraising $22,396$2,517,602
IX-9 Other employee benefitsPrograms $64,744 · Management $31,791 · Fundraising $3,532$100,067
IX-10 Payroll taxesPrograms $278,505 · Management $14,239 · Fundraising $1,582$294,326
IX-12 Advertising and promotionManagement $14,148$14,148
IX-13 Office expensesManagement $6,561$6,561
IX-16 OccupancyManagement $89,128$89,128
IX-17 TravelPrograms $7,926 · Management $11,088$19,014
IX-20 InterestManagement $5,363$5,363
IX-22 Depreciation, depletion and amortizationManagement $1,047$1,047
IX-23 InsuranceManagement $15,118$15,118
IX-24 Other expenses (24a–d)Programs $932,349 · Management $94,187 · Fundraising $560$1,027,096
IX-24e All other expensesPrograms $15,039 · Management $12,533 · Fundraising $866$28,438
IX-25 Total functional expensesPrograms $3,746,894 · Management $496,769 · Fundraising $28,936$4,272,599
Part X · Balance sheet $2,728,832 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $594,689$1,252,834
X-4 Accounts receivableStart of year $549,095$375,868
X-9 Prepaid expenses and deferred charges$24,590
X-10c Land, buildings and equipment, netStart of year $0$9,943
X-15 Other assetsStart of year $105,964$1,065,597
X-16 Total assetsStart of year $1,249,748$2,728,832
X-17 Accounts payable and accrued expensesStart of year $501,834$733,163
X-25 Other liabilitiesStart of year $233,509$1,007,177
X-26 Total liabilitiesStart of year $735,343$1,740,340
X-27 Net assets without donor restrictionsStart of year $417,605$540,092
X-28 Net assets with donor restrictionsStart of year $96,800$448,400
X-32 Total net assets or fund balancesStart of year $514,405$988,492
X-33 Total liabilities and net assetsStart of year $1,249,748$2,728,832
Part XI · Reconciliation of net assets $988,492 net assets at year end
XI-1 Total revenue$4,746,686
XI-2 Total expenses$4,272,599
XI-3 Revenue less expenses$474,087
XI-4 Net assets at start of year$514,405
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$988,492

Form 990 e-file FY2024 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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