Workmoney Foundation INC

Tax-deductible

Milwaukee, WI501(c)(3)Since 2022Human ServicesEIN 88-1168529

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Workmoney Foundation, INC. (wmf) was created to help everyday americans afford a good life by helping americans act in their financial self-interest through public education. The goal of the organization is to help everyone in america be able to afford to live a good life and to have their work rewarded with economic security. In order to further this goal, wmf will conduct national public education campaigns to provide critical, timely information about enacted legislation and financial matters (including helping everyday americans access and navigate complicated government programs like unemployment insurance and the child tax credit), conduct scientific research, and educate the public about policy issues that affect their finances.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Run by 2 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
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
3 of 3
filings with a surplus
Average surplus $3.8M a year · 12% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$260K
to officers and key staff · 0.4% of spending
Top officer’s pay lower than 77% of similar orgs
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
23
named funders · $61.4M
Looks good: 23 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
10% of total assets
Looks good: liabilities are 10% 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
$73.5M
+326% vs prior year
Spent
$70.9M
To programs
98%
Net assets
$11.4M
By yearFY2022–FY2024
Revenue
$73.5M
FY2024▲ +326%
Revenue by fiscal year
FY2022$3.4M
FY2023$17.3M
FY2024$73.5M
Expenses
$70.9M
FY2024▲ +499%
Expenses by fiscal year
FY2022$2K
FY2023$11.8M
FY2024$70.9M
Net assets
$11.4M
FY2024▲ +29%
Net assets by fiscal year
FY2022$3.4M
FY2023$8.8M
FY2024$11.4M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2022.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $69.6M Management & general 1% · $505K Fundraising 1% · $850K

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

4 people listed on the 990; $260K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chief Partnership Officer
$156,417Pt VII · Sec A
President & Chief Executive Officer
$103,791Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Evan Kost’s $156K as Chief Partnership Officer is at the 23rd percentile of top reported officer pay among 3122 $10–100M human services 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

NameFY2024FY2023
Evan Kost$156,417—
Carrie Joy Grimes$103,791$101,750

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 Workmoney Foundation 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 15aNo

Programs and updates

Educates Americans on financial matters and legislation to improve economic security.

Provided by the organization

This section is blank until Workmoney Foundation INC claims this page.

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1 program service account for $69.6M of program spending, described in the organization's own filed words · FY2024.
01

Workmoney foundation conducted national public education campaigns to provide critical, timely information about enacted legislation and financial matters and to educate the public about policy issues that affect their finances.

$69.6Mprogram 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
See all 23 funders →
Grants paid · 12 grants · $80.6M · 2023–2024
Workmoney INCWI · FY2024$63,390,000
North Main Street FundNH · FY2024$3,000,000
Voting Rights LabDC · FY2024$850,000
PushblackDC · FY2024$350,000
Parentstogether FoundationDC · FY2024$250,000
Spread the VoteDE · FY2024$100,000
Rock the VoteDC · FY2024$100,000
All Americans VoteVA · FY2024$25,000
Workmoney INCWI · FY2023$11,050,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$73.5M
Ln 12
Gifts and grantsLn 1h$73.5M
Money outPt IX
$70.9M
Ln 25
Programscol B$69.6M
Managementcol C$505K
Fundraisingcol D$850K
Owns and owesPt X
$11.4M
net assets · Ln 32
Cash and savingsLn 1–2$5.8M
Total assetsLn 16$12.7M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
4
listed · VII A
PaidVII A2
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$73.5M
Total revenueLn 12$73.5M
Assets in detailPt X, end of year
CashLn 1$5.8M
Cash and savings togetherLn 1–2$5.8M
Total assetsLn 16$12.7M
LiabilitiesLn 26$1.3M
Net assetsLn 32$11.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
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 FY24End FY24
Cash and savingsLn 1–2$7.1M$5.8M
Total assetsLn 16$9.1M$12.7M
LiabilitiesLn 26$240K$1.3M
Net assetsLn 32$8.8M$11.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$69.6M$69.6M
Pay of current officers, directors and key staffLn 5$285K$285K
Other salaries and wagesLn 7$422K$162K$260K
Pension plan contributionsLn 8$22K$7K$15K
Other employee benefitsLn 9$66K$24K$42K
Payroll taxesLn 10$58K$13K$44K
Management feesLn 11a$54K$51K$3K
Legal feesLn 11b$58K$58K
Accounting feesLn 11c$50K$50K
Professional fundraising feesLn 11e$174K$174K
Office expensesLn 13$17K$16K$2K
Information technologyLn 14$109K$108K$1K
TravelLn 17$29K$16K$13K
Conferences, conventions and meetingsLn 19$10K$10K
InsuranceLn 23$759$759
Total functional expensesLn 25$70.9M$69.6M$505K$850K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $73.5M$70.9M$2.5M$11.4M 990 PDF
FY2023 $17.3M$11.8M$5.4M$8.8M 990 PDF
FY2022 $3.4M$2K$3.4M$3.4M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $73,465,010 across 3 lines filed
VIII-1f All other contributions, gifts and grants$73,465,010
VIII-1h Total contributions, gifts and grants$73,465,010
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$73,465,010
Part IX · Statement of functional expenses $70,919,927 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $69,565,000$69,565,000
IX-5 Pay of current officers, directors and key staffFundraising $285,312$285,312
IX-7 Other salaries and wagesManagement $161,942 · Fundraising $259,688$421,630
IX-8 Pension plan contributionsManagement $7,053 · Fundraising $15,265$22,318
IX-9 Other employee benefitsManagement $23,966 · Fundraising $42,072$66,038
IX-10 Payroll taxesManagement $13,427 · Fundraising $44,487$57,914
IX-11a Management feesManagement $50,965 · Fundraising $3,080$54,045
IX-11b Legal feesManagement $58,339$58,339
IX-11c Accounting feesManagement $49,550$49,550
IX-11e Professional fundraising feesFundraising $174,000$174,000
IX-13 Office expensesManagement $15,619 · Fundraising $1,794$17,413
IX-14 Information technologyManagement $107,833 · Fundraising $1,276$109,109
IX-17 TravelManagement $15,601 · Fundraising $13,287$28,888
IX-19 Conferences, conventions and meetingsFundraising $9,612$9,612
IX-23 InsuranceManagement $759$759
IX-25 Total functional expensesPrograms $69,565,000 · Management $505,054 · Fundraising $849,873$70,919,927
Part X · Balance sheet $12,699,940 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $7,140,081$5,839,392
X-3 Pledges and grants receivableStart of year $1,841,000$6,860,548
X-16 Total assetsStart of year $9,081,081$12,699,940
X-17 Accounts payable and accrued expensesStart of year $239,547$1,313,323
X-26 Total liabilitiesStart of year $239,547$1,313,323
X-27 Net assets without donor restrictionsStart of year $8,619,431$4,526,069
X-28 Net assets with donor restrictionsStart of year $222,103$6,860,548
X-32 Total net assets or fund balancesStart of year $8,841,534$11,386,617
X-33 Total liabilities and net assetsStart of year $9,081,081$12,699,940
Part XI · Reconciliation of net assets $11,386,617 net assets at year end
XI-1 Total revenue$73,465,010
XI-2 Total expenses$70,919,927
XI-3 Revenue less expenses$2,545,083
XI-4 Net assets at start of year$8,841,534
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$11,386,617

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

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