Workmoney Inc
- Assets
- $12.9m
- Revenue
- $31.1m
- Investments
- $0.0
- Employees
- 47
- Location
- Milwaukee, WI
- Founding
- Data as of
- 12/2022
- EIN
- 85-0604101
Organization Overview
Workmoney Inc, operating under the name Workmoney, is located in Milwaukee, WI. As of 12/2022, Workmoney employed 47 individuals. Workmoney is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Workmoney generated $31.1m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 14.5% each year . All expenses for the organization totaled $28.3m during the year ending 12/2022. While expenses have increased by 17.8% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WORKMONEY IS DEDICATED TO LOWERING COSTS AND RAISING INCOMES FOR ALL AMERICANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carrie Joy Grimes President & CEO | OfficerTrustee | 40 | $228,712 |
Kathryn Bethell COO | Officer | 40 | $227,596 |
Rachel Lauter Chief Strategy Officer & General Counsel | Officer | 40 | $212,216 |
Winsor Aldeborgh VP Data & Analytics | 40 | $204,417 | |
Anjali Sakaria VP Advocacy | 40 | $197,400 | |
Tiffany Ferguson VP Operations | 40 | $192,989 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Facebook Advertising | 12/30/22 | $8,413,596 |
The Outreach Team Outreach Consulting | 12/30/22 | $2,604,687 |
Strive Sms Consulting | 12/30/22 | $1,502,558 |
Google Advertising | 12/30/22 | $2,506,291 |
Exactius Llc Digital Consulting | 12/30/22 | $1,507,323 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,021,931 |
| Noncash contributions included in lines 1a–1f | $473,350 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,021,931 |
| Total Program Service Revenue | $23,345 |
| Investment income | $2,179 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,104,409 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $721,660 |
| Compensation of current officers, directors, key employees. | $180,415 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,248,149 |
| Pension plan accruals and contributions | $217,992 |
| Other employee benefits | $542,131 |
| Payroll taxes | $377,313 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $180,110 |
| Fees for services: Accounting | $1,016 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,927,630 |
| Advertising and promotion | $12,659,441 |
| Office expenses | $122,542 |
| Information technology | $2,779,774 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $123,908 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $76,283 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,119 |
| All other expenses | $0 |
| Total functional expenses | $28,289,253 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,313,525 |
| Savings and temporary cash investments | $11,605,518 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,939 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,565 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,929,547 |
| Accounts payable and accrued expenses | $360,566 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $70,000 |
| Total liabilities | $430,566 |
| Net assets without donor restrictions | $3,679,105 |
| Net assets with donor restrictions | $8,819,876 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,929,547 |