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Nonprofiteer
← WORKMONEY INC

Form 990 for tax year 2024

Filed by WORKMONEY INC.

Totals

Total revenue
$103,122,533
Total expenses
$97,787,752
Contributions and grants received
$102,294,918
Grants paid
$8,130,664
Program service revenue
$102,549
Investment income
$20,012
Other revenue
$705,054
Total assets, end of year
$32,817,745
Total liabilities, end of year
$1,964,744
Net assets or fund balances, end of year
$30,853,001
Program services expenses (Part IX)
$93,142,467
Management and general expenses
$3,935,966
Fundraising expenses
$709,319
Program service expenses (Part III)
$93,142,467

Program services were 95.2% 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

    $102,294,918

  • 2a · Program service revenue: OUTREACH SERVICES

    total $50,000 · related or exempt $50,000

  • 2b · Program service revenue: ADVERTISING

    total $41,049 · unrelated business $41,049

  • 2c · Program service revenue: HONORARIUM

    total $11,500 · related or exempt $11,500

  • 3 · Investment income

    total $23,887 · excluded $23,887

  • 7a · Gross sales of assets other than inventory

    securities $45,974

  • 7b · Less cost or other basis and sales expenses

    securities $49,849

  • 7c · Gain or loss

    securities -$3,875

  • 7d · Net gain or loss

    total -$3,875 · excluded -$3,875

  • 11a · Other revenue: REBATES

    total $701,435 · excluded $701,435

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $3,619 · excluded $3,619

  • 11e · Other revenue, total

    $705,054

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,130,664 · program services $8,130,664

  • 5 · Compensation of officers, directors and key employees

    total $1,713,132 · program services $1,304,975 · management and general $375,186 · fundraising $32,971

  • 7 · Other salaries and wages

    total $8,958,091 · program services $7,204,447 · management and general $1,362,270 · fundraising $391,374

  • 8 · Pension plan contributions

    total $403,522 · program services $353,526 · management and general $34,946 · fundraising $15,050

  • 9 · Other employee benefits

    total $1,713,614 · program services $971,873 · management and general $702,424 · fundraising $39,317

  • 10 · Payroll taxes

    total $791,906 · program services $656,552 · management and general $113,111 · fundraising $22,243

  • 11a · Fees: management

    total $8,000 · management and general $8,000

  • 11b · Fees: legal

    total $185,651 · management and general $185,651

  • 11c · Fees: accounting

    total $362,695 · management and general $362,695

  • 11e · Fees: professional fundraising services

    total $174,000 · fundraising $174,000

  • 11g · Fees: other

    total $23,867,844 · program services $23,415,384 · management and general $446,880 · fundraising $5,580

  • 12 · Advertising and promotion

    total $42,345,949 · program services $42,345,799 · management and general $150

  • 13 · Office expenses

    total $50,010 · program services $33,214 · management and general $15,686 · fundraising $1,110

  • 14 · Information technology

    total $6,467,861 · program services $6,302,760 · management and general $163,826 · fundraising $1,275

  • 17 · Travel

    total $307,383 · program services $219,336 · management and general $68,695 · fundraising $19,352

  • 19 · Conferences, conventions and meetings

    total $232,204 · program services $141,898 · management and general $83,269 · fundraising $7,037

  • 21 · Payments to affiliates

    total $1,861,018 · program services $1,861,018

  • 23 · Insurance

    total $30,152 · program services $16,965 · management and general $13,177 · fundraising $10

  • 24a · Other expenses: PRODUCT EXPENSES

    total $179,512 · program services $179,512

  • 24b · Other expenses: HOSPITALITY

    total $4,544 · program services $4,544

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,034,269 · end of year $12,612,671

  • 2 · Savings and temporary cash investments

    beginning of year $9,678,623 · end of year $9,648,633

  • 3 · Pledges and grants receivable

    beginning of year $9,775,082 · end of year $5,000,000

  • 4 · Accounts receivable

    beginning of year $70,545 · end of year $242,356

  • 7 · Other notes and loans receivable

    beginning of year $239,547 · end of year $1,313,322

  • 9 · Prepaid expenses and deferred charges

    beginning of year $100,621 · end of year $413,968

  • 15 · Other assets

    beginning of year $0 · end of year $3,586,795

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,367,262 · end of year $1,964,744

  • 25 · Other liabilities

    beginning of year $100,000 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $10,001,157 · end of year $16,422,623

  • 28 · Net assets with donor restrictions

    beginning of year $14,430,268 · end of year $14,430,378

Mission and programs · 2024

Mission

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

  • OUTREACH: WORKMONEY COMMUNICATED WITH MILLIONS OF 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 THEIR FINANCIAL LIVES INCLUDING INFORMATION ON TAX CREDITS, GOVERMENT PROGRAMS, AND OTHER.

    Expenses $64,707,108 · Grants $8,130,664 · Revenue $61,500

  • 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 RESOURCES AND THEIR IMPACT ON THEIR LIVES.

    Expenses $20,183,770 · Revenue $41,049

  • 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 $8,251,589

As filed on the 2024 return.

Listed in Part VII

  • Ivy Brown

    CHIEF MARKETING OFFICER (THRU 10/24)

    Total calculated
    $372,596
    From this org
    $346,070
    From related orgs
    $0
    Other
    $26,526
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,570
    Bonus
    $0
    Other
    $154,500
    Deferred
    $12,228
    Nontaxable benefits
    $14,298
    Filer's total
    $372,596

  • Anthony Lower-Basc

    SR SOFTWARE ENGINEER (THRU 11/24)

    Total calculated
    $258,761
    From this org
    $230,184
    From related orgs
    $0
    Other
    $28,577
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,685
    Bonus
    $0
    Other
    $58,499
    Deferred
    $23,345
    Nontaxable benefits
    $5,232
    Filer's total
    $258,761

  • Janette Fong

    CHIEF DIGITAL OFFICER

    Total calculated
    $245,051
    From this org
    $212,344
    From related orgs
    $0
    Other
    $32,707
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,344
    Bonus
    $0
    Other
    $0
    Deferred
    $12,917
    Nontaxable benefits
    $19,790
    Filer's total
    $245,051

  • Carrie Joy Grimes

    PRESIDENT & CEO

    Total calculated
    $243,622
    From this org
    $209,340
    From related orgs
    $0
    Other
    $34,282
    Hours/week
    24

    Schedule J breakdown matched by us

    Base
    $209,340
    Bonus
    $0
    Other
    $0
    Deferred
    $13,112
    Nontaxable benefits
    $21,170
    Filer's total
    $243,622

  • Anjali Sakaria

    CHIEF ADVOCACY OFFICER

    Total calculated
    $237,373
    From this org
    $223,135
    From related orgs
    $0
    Other
    $14,238
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,135
    Bonus
    $0
    Other
    $0
    Deferred
    $14,238
    Nontaxable benefits
    $0
    Filer's total
    $237,373

  • Kyle Shepherd

    VP DIGITAL ENGAGEMENT

    Total calculated
    $220,181
    From this org
    $179,727
    From related orgs
    $0
    Other
    $40,454
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,727
    Bonus
    $0
    Other
    $0
    Deferred
    $17,564
    Nontaxable benefits
    $22,890
    Filer's total
    $220,181

  • Winsor Aldeborgh

    VP DATA & ANALYTICS

    Total calculated
    $218,941
    From this org
    $181,643
    From related orgs
    $0
    Other
    $37,298
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,643
    Bonus
    $0
    Other
    $0
    Deferred
    $19,469
    Nontaxable benefits
    $17,829
    Filer's total
    $218,941

  • Lauren Rourke

    VP MEMBER SERVICES

    Total calculated
    $217,022
    From this org
    $173,659
    From related orgs
    $0
    Other
    $43,363
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,659
    Bonus
    $0
    Other
    $0
    Deferred
    $19,763
    Nontaxable benefits
    $23,600
    Filer's total
    $217,022

  • Cheryl Harris

    VP PEOPLE OPERATIONS

    Total calculated
    $216,727
    From this org
    $183,763
    From related orgs
    $0
    Other
    $32,964
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,763
    Bonus
    $0
    Other
    $0
    Deferred
    $11,354
    Nontaxable benefits
    $21,610
    Filer's total
    $216,727

  • Michael M Enriquez

    VP ORGANIZING

    Total calculated
    $210,527
    From this org
    $179,737
    From related orgs
    $0
    Other
    $30,790
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $179,737
    Bonus
    $0
    Other
    $0
    Deferred
    $23,000
    Nontaxable benefits
    $7,790
    Filer's total
    $210,527

  • Tiffany Telemaque

    VP COMMUNICATIONS (THRU 6/24)

    Total calculated
    $203,817
    From this org
    $191,633
    From related orgs
    $0
    Other
    $12,184
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $83,483
    Bonus
    $0
    Other
    $108,150
    Deferred
    $0
    Nontaxable benefits
    $12,184
    Filer's total
    $203,817

  • Brittany Groucutt

    CHIEF ADMIN OFFICER

    Total calculated
    $175,369
    From this org
    $175,369
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,369
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $175,369

  • Brina Millikowsky

    CHAIR & SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Pete Davies

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Nick Hanauer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Kathman

    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
  • 4a · Severance or change-of-control payment

Answered no

  • 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. IN 2024, THE BOARD OF DIRECTORS OF WORKMONEY, INC. APPROVED A COST OF LIVING ADJUSTMENT TO THE SALARY OF THE CHIEF EXECUTIVE OFFICER VIA AN E-VOTE ON FEBRUARY 19, 2024. PURSUANT TO WORKMONEY'S CONFLICT OF INTEREST POLICY, CARRIE JOY GRIMES DID NOT CONSENT TO THIS RESOLUTION.
PART I, LINE 4A
IVY BROWN, CHIEF MARKETING OFFICER, RECEIVED A SEVERANCE PAYMENT OF $154,500 DURING THE YEAR. ANTHONY LOWER-BASC, SENIOR SOFTWARE ENGINEER, RECEIVED A SEVERANCE PAYMENT OF $58,499 DURING THE YEAR. TIFFANY TELEMAQUE, VP COMMUNICATIONS, RECEIVED A SEVERANCE PAYMENT OF $108,150 DURING THE YEAR.

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

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • WORKMONEY MEDIA

    C · FINANCIAL LITERACY EDUCATION THROUGH MEDIA. · DE · 100% owned · share of income -$711,714 · share of assets $2,942,927 · controlled entity

    Directly controlled by WORKMONEY INC

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202523189349308892

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