WORKSMITH INSTITUTE (EIN 251722549) - 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

Principal Officer

JAMES R AGRAS

Phone

4123591000

Tax Period

2023-01-01 to 2023-12-31

WORKSMITH INSTITUTE is a small nonprofit in the Employment sector that reported $502K in total revenue in fiscal year 2023. The organization ran a surplus of $281K, a strong 56% operating margin.

Mission

WORKSMITH INSTITUTE SERVES AS THE ADMINISTRATIVE ENTITIY FOR PUBLIC AND PRIVATE GRANT FUNDS FOR THE PURPOSE OF PROVIDING FINANCIAL SUPPORT FOR STUDENTS OF THE COMMONWEALTH OF PENNSYLVANIA ENROLLED IN POST-SECONDARY EDUCATIONAL PROGRAMS WHICH PREPARE THEM TO ENTER THE WORKFORCE. THE STUDENTS ARE TARGETED AS THOSE WHO HAVE FINANCIAL NEEDS NOT MET THROUGH OTHER SOURCES.

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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 $500,000

Program Service Revenue $0

Investment Income $1,847

Other Revenue $0

TOTAL REVENUE $501,847

Expense Breakdown

Grants Paid $217,035

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $217,035

Other Expenses $3,521

TOTAL EXPENSES $220,556

Year-over-Year Comparison

	2023	2022	Change
Revenue	$501,847	N/A	N/A
Expenses	$220,556	N/A	N/A
Net Income	$281,291	N/A	N/A

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELECTRA P AGRAS	SECRETARY	0.00	Officer Director	$0	$0	$0
JAMES R AGRAS	PRESIDENT	1.00	Officer Director	$0	$0	$0
TIMOTHY J MCMAHON	EXECUTIVE VP	1.00	Officer 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
2024	No data	No data	No data	No data
2023	$501,847	$220,556	$320,269	$281,291
2020	$375,630	$379,321	$78,135	$-3,691
2019	$521,624	$523,311	$153,577	$-1,687

WORKSMITH INSTITUTE