INDEPENDENCE WORKS INC (EIN 203383117) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2005

Legal Domicile

Principal Officer

STEPHEN A WOOD

Phone

6037494504

Tax Period

2024-07-01 to 2025-06-30

INDEPENDENCE WORKS INC, founded in 2005, is a community nonprofit in the Human Services sector that reported $2.2M in total revenue in fiscal year 2024. Revenue surged 33% from the prior year, signaling strong growth momentum.

Mission

TO HELP PEOPLE INTEGRATE INTO THEIR COMMUNITY, SERVE PERSONS WITH DISABILITIES AND TRAIN LIFE AND BASIC SKILLS FOR EMPLOYMENT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,184,550

Investment Income $8,134

Other Revenue $0

TOTAL REVENUE $2,192,684

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,034,908

Fundraising Expenses $0

Program Expenses $1,925,493

Other Expenses $275,968

TOTAL EXPENSES $2,310,876

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,192,684	$1,643,774	+0.3%
Expenses	$2,310,876	$1,935,559	+0.2%
Net Income	$-118,192	$-291,785	-0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

192

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$74,317

Total Directors

$74,317

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH LEDDY	CHAIRMAN	1.00	Officer Director	$25,000	$0	$25,000
STEPHEN WOOD	TREASURER, DIRECTOR	2.00	Officer Director	$25,000	$0	$25,000
GLORIA-JEAN CERRA	DIRECTOR	1.00	Director	$0	$0	$0
SEAN GARRICK	DIRECTOR	1.00	Director	$0	$0	$0
RYAN MOUNTAIN	PRESIDENT	5.00	Officer Director	$24,317	$0	$24,317
PAT LAKEY	DIRECTOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$2,192,684	$2,310,876	$486,329	$-118,192
2024	$1,643,774	$1,935,559	$548,612	$-291,785
2023	$1,745,060	$1,820,562	$867,423	$-75,502
2022	$1,798,472	$1,413,514	$958,994	$384,958
2021	$1,423,189	$1,251,086	$471,993	$172,103
2020	$1,344,804	$1,331,489	$266,564	$13,315

INDEPENDENCE WORKS INC