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Nonprofiteer
← WORKMONEY INC

Form 990 for tax year 2022

Filed by WORKMONEY INC.

Totals

Total revenue
$31,104,409
Total expenses
$28,289,253
Contributions and grants received
$31,021,931
Grants paid
$0
Program service revenue
$23,345
Investment income
$2,179
Other revenue
$56,954
Total assets, end of year
$12,929,547
Total liabilities, end of year
$430,566
Net assets or fund balances, end of year
$12,498,981
Program services expenses (Part IX)
$25,374,760
Management and general expenses
$1,788,348
Fundraising expenses
$1,126,145
Program service expenses (Part III)
$25,374,760

Program services were 89.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $31,021,931

  • 1g · Noncash contributions included above

    $473,350

  • 2a · Program service revenue: ADVERTISING

    total $22,095 · unrelated business $22,095

  • 2b · Program service revenue: HONORARIUM

    total $1,000 · related or exempt $1,000

  • 2c · Program service revenue: MEMBERSHIP DUES

    total $250 · related or exempt $250

  • 3 · Investment income

    total $2,179 · excluded $2,179

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $56,954 · related or exempt $56,954

  • 11e · Other revenue, total

    $56,954

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $721,660 · program services $360,830 · management and general $180,415 · fundraising $180,415

  • 7 · Other salaries and wages

    total $4,248,149 · program services $3,363,903 · management and general $655,029 · fundraising $229,217

  • 8 · Pension plan contributions

    total $217,992 · program services $167,630 · management and general $34,942 · fundraising $15,420

  • 9 · Other employee benefits

    total $542,131 · program services $371,396 · management and general $51,820 · fundraising $118,915

  • 10 · Payroll taxes

    total $377,313 · program services $286,171 · management and general $62,551 · fundraising $28,591

  • 11b · Fees: legal

    total $180,110 · management and general $180,110

  • 11c · Fees: accounting

    total $1,016 · management and general $1,016

  • 11g · Fees: other

    total $5,927,630 · program services $5,242,725 · management and general $234,425 · fundraising $450,480

  • 12 · Advertising and promotion

    total $12,659,441 · program services $12,659,441

  • 13 · Office expenses

    total $122,542 · program services $14,411 · management and general $107,474 · fundraising $657

  • 14 · Information technology

    total $2,779,774 · program services $2,701,443 · management and general $68,829 · fundraising $9,502

  • 17 · Travel

    total $123,908 · program services $61,171 · management and general $32,462 · fundraising $30,275

  • 19 · Conferences, conventions and meetings

    total $76,283 · program services $13,255 · management and general $7,890 · fundraising $55,138

  • 23 · Insurance

    total $10,119 · management and general $10,119

  • 24a · Other expenses: OTHER PERSONNEL COSTS

    total $178,129 · program services $9,328 · management and general $161,266 · fundraising $7,535

  • 24b · Other expenses: MEMBER PRODUCTS & SERVI

    total $123,056 · program services $123,056

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,707,713 · end of year $1,313,525

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $11,605,518

  • 3 · Pledges and grants receivable

    beginning of year $3,200,000 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $8,939

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $1,565

  • 17 · Accounts payable and accrued expenses

    beginning of year $223,888 · end of year $360,566

  • 25 · Other liabilities

    beginning of year $0 · end of year $70,000

  • 27 · Net assets without donor restrictions

    beginning of year $7,050,564 · end of year $3,679,105

  • 28 · Net assets with donor restrictions

    beginning of year $2,633,261 · end of year $8,819,876

Mission and programs · 2022

Mission

WORKMONEY IS DEDICATED TO LOWERING COSTS AND RAISING INCOMES FOR ALL AMERICANS, MAKING LIFE MORE AFFORDABLE AND FAMILIES MORE ECONOMICALLY SECURE.

Activities or mission (Part I)

WORKMONEY IS DEDICATED TO LOWERING COSTS AND RAISING INCOMES FOR ALL AMERICANS.

  • OUTREACH: WORKMONEY COMMUNICATED WITH MILLIONS OF FINANCIALLY STRUGGLING, HARD-TO-REACH AMERICANS, DELIVERING VALUABLE REAL-TIME INFORMATION TO HELP THEM BETTER WEATHER FINANCIAL CHALLENGES. WORKMONEY PROVIDED INFORMATION ACROSS A RANGE OF COMMUNICATION CHANNELS TO HELP AMERICANS NAVIGATE THE ECONOMIC CRISIS CAUSED BY THE COVID-19 PANDEMIC, INCLUDING INFORMATION ON TAX CREDITS, STIMULUS PROGRAMS, AND OTHER BENEFIT PROGRAMS AND SERVICES.

    Expenses $17,628,128 · Revenue $40,435

  • EDUCATION: WORKMONEY PROVIDED INFORMATION TO SUBSCRIBERS TO HELP THEM NAVIGATE COMPLEX FINANCIAL PROGRAMS AND SERVICES, TO MATERIALLY IMPROVE THEIR FINANCIAL WELL-BEING. WORKMONEY HELD PERSONAL CONVERSATIONS WITH AMERICAN FAMILIES ABOUT ECONOMIC TOOLS AND THEIR IMPACT ON THEIR LIVES.

    Expenses $5,498,655 · Revenue $12,613

  • ADVOCACY: WORKMONEY EDUCATED DECISION-MAKERS ON THE NEEDS OF WORKING AMERICANS. THIS WORK INCLUDED CONDUCTING POLICY RESEARCH AND ANALYSIS AND SUPPORTING POLICIES THAT HELP RAISE INCOMES AND LOWER COSTS.

    Expenses $2,247,977 · Revenue $5,156

As filed on the 2022 return.

Listed in Part VII

  • Carrie Joy Grimes

    PRESIDENT & CEO

    Total calculated
    $269,921
    From this org
    $228,712
    From related orgs
    $0
    Other
    $41,209
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $228,712
    Bonus
    $0
    Other
    $0
    Deferred
    $11,250
    Nontaxable benefits
    $29,959
    Filer's total
    $269,921

  • Kathryn Bethell

    COO

    Total calculated
    $227,716
    From this org
    $227,596
    From related orgs
    $0
    Other
    $120
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,596
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $120
    Filer's total
    $227,716

  • Rachel Lauter

    CHIEF STRATEGY OFFICER & GENERAL COUNSEL

    Total calculated
    $224,022
    From this org
    $212,216
    From related orgs
    $0
    Other
    $11,806
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,216
    Bonus
    $0
    Other
    $0
    Deferred
    $11,686
    Nontaxable benefits
    $120
    Filer's total
    $224,022

  • Winsor Aldeborgh

    VP DATA & ANALYTICS

    Total calculated
    $232,649
    From this org
    $204,417
    From related orgs
    $0
    Other
    $28,232
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $204,417
    Bonus
    $0
    Other
    $0
    Deferred
    $12,100
    Nontaxable benefits
    $16,132
    Filer's total
    $232,649

  • Anjali Sakaria

    VP ADVOCACY

    Total calculated
    $210,120
    From this org
    $197,400
    From related orgs
    $0
    Other
    $12,720
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,400
    Bonus
    $0
    Other
    $0
    Deferred
    $12,600
    Nontaxable benefits
    $120
    Filer's total
    $210,120

  • Tiffany Ferguson

    VP OPERATIONS

    Total calculated
    $214,978
    From this org
    $192,989
    From related orgs
    $0
    Other
    $21,989
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,989
    Bonus
    $0
    Other
    $0
    Deferred
    $12,108
    Nontaxable benefits
    $9,881
    Filer's total
    $214,978

  • Jonathan Savitch

    CHIEF PRODUCT OFFICER THRU 8/2022

    Total calculated
    $215,282
    From this org
    $189,589
    From related orgs
    $0
    Other
    $25,693
    Hours/week
    25

    Schedule J breakdown matched by us

    Base
    $189,589
    Bonus
    $0
    Other
    $0
    Deferred
    $9,260
    Nontaxable benefits
    $16,433
    Filer's total
    $215,282

  • Michael M Enriquez

    FORMER DIRECTOR, VP ORGANIZING

    Total calculated
    $207,927
    From this org
    $189,251
    From related orgs
    $0
    Other
    $18,676
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,251
    Bonus
    $0
    Other
    $0
    Deferred
    $8,925
    Nontaxable benefits
    $9,751
    Filer's total
    $207,927

  • Pete Davies

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Brina Milikowsky

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Nick Hanauer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
IN 2021 THE BOARD OF DIRECTORS OF WORKMONEY, INC. HELD A SPECIAL MEETING. CARRIE JOY GRIMES, DIRECTOR OF THE ORGANIZATION, DID NOT ATTEND THE EXECUTIVE SESSION PORTION OF THE MEETING AT WHICH THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER WAS REVIEWED AND APPROVED. AN ANNUAL SALARY AND ASSOCIATED EMPLOYEE BENEFITS WERE APPROVED, PURSUANT TO THE DEFINITION OF REASONABLE COMPENSATION UNDER INTERNAL REVENUE CODE SECTION 162. THE 2020 REGIONAL PAY NON-PROFIT REPORT PROVIDED THE BASIS FOR THE DETERMINED REASONABLE COMPENSATION. PURSUANT TO WORKMONEY'S CONFLICT OF INTEREST POLICY, CARRIE JOY GRIMES DID NOT CONSENT TO THIS RESOLUTION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
20 December 2023
IRS schema version
2022v5.0
Source object
202343559349301754

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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