WORK INCORPORATED

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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

1970

Legal Domicile

Principal Officer

ERIC SILBERZWEIG

Phone

6173280300

Tax Period

2023-07-01 to 2024-06-30

WORK INCORPORATED, founded in 1970, is a mid-sized nonprofit in the Employment sector that reported $49.7M in total revenue in fiscal year 2023.

Mission

IT IS THE MISSION OF WORK,INC. TO ENSURE THAT ALL INDIVIDUALS WITH DISABILITIES HAVE THE ABILITY TO GROW, THE RIGHT TO MAKE CHOICES, ACCESS TO EDUCATION, AND THE OPPORTUNITY TO PARTICIPATE IN COMMUNITY LIFE VIA MEANINGFUL WORK.

Program Service Accomplishments

Program 1

Expenses: $13,657,328 Revenue: $15,146,099

INDUSTRIAL AND COMMERCIAL: WE PROVIDE DIRECT EMPLOYMENT TO OVER 100 INDIVIDUALS WITH DISABILITIES AT MORE THAN 20 WORK SITES. OUR SERVICES INCLUDE CUSTODIAL, TOTAL FACILITY MANAGEMENT, MAIL ROOM...

INDUSTRIAL AND COMMERCIAL: WE PROVIDE DIRECT EMPLOYMENT TO OVER 100 INDIVIDUALS WITH DISABILITIES AT MORE THAN 20 WORK SITES. OUR SERVICES INCLUDE CUSTODIAL, TOTAL FACILITY MANAGEMENT, MAIL ROOM, FOOD SERVICE, LANDSCAPING, AND SNOW REMOVAL. OUR CUSTOMERS ARE FEDERAL GOVERNMENT AND COMMERCIAL CUSTOMERS LOCATED IN THE MASSACHUSETTS CITIES OF BOSTON, NATICK, ANDOVER, SPRINGFIELD, MILFORD, NATICK, NEW BEDFORD, CHARLESTOWN, AND, AT OTHER WORK SITES IN THE STATES OF VT, NY, AND CT.

Program 2

Expenses: $21,242,319 Revenue: $2,677,341

RESIDENTIAL: WE PROVIDE RESIDENTIAL SUPPORT SERVICES TO APPROXIMATELY 200 INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES, MENTAL ILLNESS AND/OR SIGNIFICANT PHYSICAL DISABILITIES, THROUGH TWO DISTINCT...

RESIDENTIAL: WE PROVIDE RESIDENTIAL SUPPORT SERVICES TO APPROXIMATELY 200 INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES, MENTAL ILLNESS AND/OR SIGNIFICANT PHYSICAL DISABILITIES, THROUGH TWO DISTINCT PROGRAM MODELS: SUPPORTED LIVING AND 24 HOUR SHARDED LIVING AND RESIDENTIAL GROUP HOMES, INDEPENDENT LIVING. THE SUPPORTED LIVING PROGRAM PROVIDES CUSTOMIZED SUPPORT TO INDIVIDUALS LIVING INDEPENDENTLY TO ADDRESS THEIR UNIQUE NEEDS. OUR SERVICES INCLUDE BUT ARE NOT LIMITED TO PERSONAL CARE, MEDICAL ADVOCACY, FINANCIAL ASSISTANCE, SOCIAL SKILLS TRAINING, COUNSELING AND SUPPORT. THE 24 HOUR RESIDENTIAL PROGRAM SERVES HEARING AND DEAF INDIVIDUALS AT APPROXIMATELY 25 GROUP HOMES AND HAS RECEIVED CERTIFICATION THROUGH THE CARF AND QUEST PROCESS. OUR PROGRAMS SERVE INDIVIDUALS FROM MULTIPLE STATE FUNDERS INCLUDING DDS, MRC, MCB, DMH, DTA, AND PRIVATE FUNDERS.

Program 3

Expenses: $6,679,060 Revenue: $122,682

EMPLOYMENT: WE PROVIDE INDIVIDUAL SUPPORTED EMPLOYMENT, GROUP SUPPORTED EMPLOYMENT, AND COMMUNITY BASED EMPLOYMENT AND DAY-HABILITATION SERVICES TO MORE THAN 350 INDIVIDUALS WITH A VARIETY OF...

EMPLOYMENT: WE PROVIDE INDIVIDUAL SUPPORTED EMPLOYMENT, GROUP SUPPORTED EMPLOYMENT, AND COMMUNITY BASED EMPLOYMENT AND DAY-HABILITATION SERVICES TO MORE THAN 350 INDIVIDUALS WITH A VARIETY OF DISABILITIES INCLUDING THOSE WHO ARE DEAF AND HARD OF HEARING. AS PART OF OUR PIONEERING JOB PLACEMENT PROGRAM AND FLAGSHIP CAREER PLACEMENT PROGRAM SERVICES, WE PROVIDE CAREER COUNSELING, SITUATIONAL ASSESSMENTS, PLANNING, JOB SEARCH ASSISTANCE, JOB COACHING, AND ONGOING SUPPORTS AS NEEDED. OUR DAY PROGRAMS ARE LOCATED IN BOSTON, QUINCY, FITCHBURG AND NEW BEDFORD. OUR EXPANDED SERVICE AREA NOW INCLUDES CONSTITUENTS FROM DDS, MRC, DTA, MCB, DMH, WHILE ALSO ACCEPTING PRIVATE PLACEMENTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $29,363,342

Program Service Revenue $17,781,209

Investment Income $1,547,243

Other Revenue $1,017,805

TOTAL REVENUE $49,709,599

Expense Breakdown

Grants Paid $0

Salaries & Benefits $35,171,258

Fundraising Expenses $0

Program Expenses $42,125,834

Other Expenses $13,309,560

TOTAL EXPENSES $48,480,818

Year-over-Year Comparison

	2023	2022	Change
Revenue	$49,709,599	$47,432,733	+0.0%
Expenses	$48,480,818	$46,776,810	+0.0%
Net Income	$1,228,781	$655,923	+0.9%

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

656

Volunteers

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

$1,163,668

Total Directors

$933,342

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES CASSETTA	PRESIDENT	37.50	Officer Director	$536,006	$28,956	$564,962
SHARON SMITH	CHIEF EXECUTIVE OFFICER	37.50	Officer Director	$339,424	$28,956	$368,380
JAMES FLANAGAN	CHAIRMAN	2.00	Officer Director	$0	$0	$0
PHILIP J CARVER	VICE CHAIRMAN	1.50	Officer Director	$0	$0	$0
FRANK ZONA	ASSISTANT TREASURER	1.50	Officer Director	$0	$0	$0
MARY LOU DRISCOLL	CLERK	2.00	Officer Director	$0	$0	$0
TACKEY CHAN	DIRECTOR	1.50	Director	$0	$0	$0
DONALD UVANITTE	DIRECTOR	1.50	Director	$0	$0	$0
ELISA BIRDSEYE	DIRECTOR	1.50	Director	$0	$0	$0
JEAN HUNT	DIRECTOR	1.50	Director	$0	$0	$0
JAMES WHITE	DIRECTOR	1.50	Director	$0	$0	$0
CANDACE TURNER	DIRECTOR	1.50	Director	$0	$0	$0
WILLIAM MORAN III	DIRECTOR	1.50	Director	$0	$0	$0
ALKIA POWELL	DIRECTOR	1.50	Director	$0	$0	$0
ALLAN LEVIN	DIRECTOR	1.50	Director	$0	$0	$0
ERIC SILBERZWEIG	TREAS.(N-V)/SR. VP, CFO	37.50	Officer	$220,000	$10,326	$230,326
SUSAN BUCKLEY	ASSISTANT CLERK (NON-VOTING)	1.50	Officer	$0	$0	$0
RYAN SAVOIA	VP OF INFORMATION TECHNOLOGY	37.50	Highest	$160,000	$28,956	$188,956
FIONA HEALEY	VP QUALITY ASSURANCE & FAMILY SUPPORT	37.50	Highest	$158,423	$10,564	$168,987
ROHAN WICKRAMARATNE	CHIEF ADMINISTRATIVE OFFICER	37.50	Highest	$157,966	$28,956	$186,922
JOSEPH MCCARTHY	VP ABILITYONE	37.50	Highest	$157,269	$10,564	$167,833
PAULA CHDID	VP FINANCE	37.50	Highest	$156,001	$28,956	$184,957

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	No data	No data	No data	No data
2024	$49,709,599	$48,480,818	$49,627,539	$1,228,781
2023	$47,432,733	$46,776,810	$48,400,462	$655,923
2022	$46,198,835	$41,613,133	$48,287,405	$4,585,702
2021	$40,185,675	$37,211,595	$45,920,216	$2,974,080
2020	$38,439,502	$37,789,300	$41,304,458	$650,202
2019	$36,092,805	$34,891,484	$36,402,734	$1,201,321
2018	$40,531,535	$32,862,845	$34,062,767	$7,668,690