Edc 413works INC FY2022 filing

Tax-deductible

Springfield, MA501(c)(3)Community DevelopmentEIN 86-1491313

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Improve quality of life in western massachusetts by promoting economic opportunity and growth

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

FY2022 · 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 3
filings with a surplus
Average surplus $36K a year · 6% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
15 mo
of spending, in cash
Looks good: 14.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $365K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$138K
45% of total assets
Looks good: liabilities are 45% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$336K
+320% vs prior year
Spent
$245K
To programs
88%
Net assets
$172K
By yearFY2021–FY2024
Revenue
$336K
FY2022▲ +320%
Revenue by fiscal year
FY2021$80K
FY2022$336K
FY2023$767K
FY2024$858K
Expenses
$245K
FY2022
Expenses by fiscal year
FY2021Not on file
FY2022$245K
FY2023$778K
FY2024$830K
Net assets
$172K
FY2022▲ +114%
Net assets by fiscal year
FY2021$80K
FY2022$172K
FY2023$161K
FY2024$189K

From the FY2022 Form 990 · see the original

You’re viewing the FY2022 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 Nov 2021.

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% · $214K Management & general 12% · $30K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Clerk / Executive Director
$0Pt VII · Sec A
See Edc 413works 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes economic opportunity and growth to improve quality of life in Western Massachusetts.

Provided by the organization

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2 program services account for $214K of program spending, described in the organization's own filed words · FY2022.
01

Anchor collaborative- edc 413WORKS has partnered with baystate health system, which is also a 501(c)(3) organization to increase local procurement opportunities for women and minority owned businesses and to propel hiring and career pathways for minority and low income populations.

$134Kprogram expense
02

Assist the economic development council of ma with its working cities program the goal of which is to increase the labor force participation of various cities in western massachusetts. The program aims to improve workforce systems, create new frameworks to guide the workforce system, influence employer hiring and worker advancement…

$80Kprogram expense

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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 · FY2024
Total grants receivedfrom 3 funders$365K
See all 3 funders →
Grants paid · 21 grants · $525K · 2023–2024
Square OneMA · FY2024$25,000
New North Citizens CouncilFY2024$25,000
Home City Development INCMA · FY2024$25,000
New North Citizens CouncilFY2023$25,000
Home City Development INCMA · FY2023$25,000
Helix Human Services INCMA · FY2023$25,000
New North Citizens CouncilFY2023$25,000
Home City Development INCMA · FY2023$25,000
See all 21 grants →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$336K
Ln 12
Gifts and grantsLn 1h$335K
Other incomeLn 4–11$625
Money outPt IX
$245K
Ln 25
Programscol B$214K
Managementcol C$30K
Owns and owesPt X
$172K
net assets · Ln 32
Cash and savingsLn 1–2$304K
Total assetsLn 16$309K
LiabilitiesLn 26$138K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$335K
Government grantsLn 1e$62K
Other incomeLn 4–11$625
Total revenueLn 12$336K
Assets in detailPt X, end of year
CashLn 1$304K
Cash and savings togetherLn 1–2$304K
Total assetsLn 16$309K
LiabilitiesLn 26$138K
Net assetsLn 32$172K
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
Fiscal year endsHeaderDecember
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$170K$304K
Total assetsLn 16$180K$309K
LiabilitiesLn 26$100K$138K
Net assetsLn 32$80K$172K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$3K$3K
Other fees for servicesLn 11g$25K$25K
TravelLn 17$287$287
InsuranceLn 23$765$765
Other expenses (24a–d)Ln 24$215K$214K$584
All other expensesLn 24e$522$522
Total functional expensesLn 25$245K$214K$30K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $858K$830K$28K$189K 990 PDF
FY2023 $767K$778K−$10K$161K 990 PDF
FY2022 Viewing $336K$245K$92K$172K 990 PDF
FY2021 $80K$80K 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $336,025 across 5 lines filed
VIII-1e Government grants$62,500
VIII-1f All other contributions, gifts and grants$272,900
VIII-1h Total contributions, gifts and grants$335,400
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $625$625
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $625$336,025
Part IX · Statement of functional expenses $244,501 across 6 lines filed
IX-11c Accounting feesManagement $3,400$3,400
IX-11g Other fees for servicesManagement $24,874$24,874
IX-17 TravelManagement $287$287
IX-23 InsuranceManagement $765$765
IX-24 Other expenses (24a–d)Programs $214,069 · Management $584$214,653
IX-24e All other expensesManagement $522$522
IX-25 Total functional expensesPrograms $214,069 · Management $30,432 · Fundraising $0$244,501
Part X · Balance sheet $309,309 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $170,000$304,186
X-4 Accounts receivableStart of year $10,000$5,000
X-9 Prepaid expenses and deferred charges$123
X-16 Total assetsStart of year $180,000$309,309
X-17 Accounts payable and accrued expensesStart of year $0$8,587
X-19 Deferred revenueStart of year $0$62,099
X-25 Other liabilitiesStart of year $100,000$67,099
X-26 Total liabilitiesStart of year $100,000$137,785
X-27 Net assets without donor restrictionsStart of year $80,000$171,524
X-32 Total net assets or fund balancesStart of year $80,000$171,524
X-33 Total liabilities and net assetsStart of year $180,000$309,309
Part XI · Reconciliation of net assets $171,524 net assets at year end
XI-1 Total revenue$336,025
XI-2 Total expenses$244,501
XI-3 Revenue less expenses$91,524
XI-4 Net assets at start of year$80,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$171,524

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

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