Working Wardrobes For A New Start

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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

1995

Legal Domicile

Principal Officer

BONNI POMUSH

Phone

7142102460

Tax Period

2023-01-01 to 2023-12-31

Working Wardrobes For A New Start, founded in 1995, is a community nonprofit in the Employment sector that reported $4.6M in total revenue in fiscal year 2023. Revenue decreased 14% compared to the prior year.

Mission

TO CONDUCT PROGRAMS AND EVENTS TO HELP IMPROVE THE WELL BEING OF ADULTS EMERGING FROM LIFE CRISES AND HELP THEM OBTAIN SELF-SUFFICIENY.

Program Service Accomplishments

Program 1

Expenses: $1,505,982 Revenue: $530,011

CAREER SERVICES - THE ORGANIZATION PROVIDES CAREER DEVELOPMENT SERVICES TO LOW INCOME INDIVIDUALS AND CLIENTS WHO ARE OVERCOMING DIFFICULT CHALLENGES. THESE SERVICES INCLUDE CAREER ASSESSMENT, RESUME DEVELOPMENT, CUSTOMER SERVICE TRAINING, FINANCIAL LITERACY WORKSHOPS, JOB PLACEMENT ASSISTANCE, JOB REFERRALS AND JOB RETENTION SERVICES. VOLUNTEER SUCCESS COACHES AND JOB DEVELOPERS SUPPORT THESE EFFORTS. PROFESSIONAL WARDROBING AND GROOMING SERVICES ARE ALSO PROVIDED WITH THE HELP OF VOLUNTEER PERSONAL SHOPPERS. APPROXIMATELY 5,500 CLIENTS BENEFITED FROM THE SERVICES PROVIDED DURING 2023.

Program 2

Expenses: $1,550,730 Revenue: $1,566,832

RESALE OPERATIONS - THE ORGANIZATION HAS TWO UPSCALE RESALE BOUTIQUES THAT SELL A WIDE SELECTION OF TOP QUALITY DONATED CLOTHING AND ACCESSORIES TO THE GENERAL PUBLIC. THE SHOPS ARE LOCATED IN TUSTIN AND LAGUNA NIGUEL, CA. ALSO, THE ORGANIZATION HAS TWO OUTLET SHOPS LOCATED IN GARDEN GROVE AND COSTA MESA, CA THAT SELL A WIDE VARIETY OF MERCHANDISE, MEN'S AND WOMEN'S CLOTHING TO THE GENERAL PUBLIC. Shops also create opportunities for work experience for clients. THE INCOME DERIVED FROM THE SALES SUPPORT THE SERVICES AND PROGRAMS.

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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 $4,366,269

Program Service Revenue $530,011

Investment Income $-23,631

Other Revenue $-222,945

TOTAL REVENUE $4,649,704

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,647,257

Fundraising Expenses $407,806

Program Expenses $3,056,712

Other Expenses $2,113,898

TOTAL EXPENSES $4,761,155

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,649,704	$5,427,998	-0.1%
Expenses	$4,761,155	$5,441,801	-0.1%
Net Income	$-111,451	$-13,803	+7.1%

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

Volunteers

2200

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

$430,108

Total Directors

$205,588

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BONNI POMUSH	CEO	40.0	Officer Director	$201,527	$4,061	$205,588
Derek Benson	Chief People Officer	40.0	Officer	$124,985	$7,628	$132,613
Alan Silkes	CFO thru 7/14/2023	40.0	Officer	$91,866	$41	$91,907
Carolyn Beaver	Board Member/Treasurer	1.0	Officer Director	$0	$0	$0
Jim Bourne	Board Member	1.0	Director	$0	$0	$0
Matt Clark	Board Member	1.0	Director	$0	$0	$0
Chris Collie	Board Member	1.0	Director	$0	$0	$0
Brant Gresham	Board Member	1.0	Director	$0	$0	$0
Laurie Grijalva	Board Member	1.0	Director	$0	$0	$0
Erik Hiller	Board Member	1.0	Director	$0	$0	$0
Paul Hoffman	Board Member	1.0	Director	$0	$0	$0
Cyndi Karapogosian	Chairperson/board member	1.0	Officer Director	$0	$0	$0
Lynette McKinnon	Board Member	1.0	Director	$0	$0	$0
Janelle Metzger	Board Member/Vice Chair	1.0	Officer Director	$0	$0	$0
Christopher Porsena	Board Member/Secretary	1.0	Officer Director	$0	$0	$0
Christine Ragos	Board Member	1.0	Director	$0	$0	$0
Tricia Sanchez	Board Member	1.0	Director	$0	$0	$0
Marissa Waldman	Board Member	1.0	Director	$0	$0	$0
Scott De Long	Board Member	1.0	Director	$0	$0	$0
Lynn Herrick	Board Member	1.0	Director	$0	$0	$0
Greg Little	Board Member	1.0	Director	$0	$0	$0
Kathryn Morrison	Board Member	1.0	Director	$0	$0	$0
Wendy Nicoson	Board Member	1.0	Director	$0	$0	$0
Sherrie Simmons	Board Member	1.0	Director	$0	$0	$0
Michelle Sullivan	Board Member	1.0	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	$4,649,704	$4,761,155	$8,785,023	$-111,451
2022	$5,427,998	$5,441,801	$7,777,095	$-13,803
2021	$8,458,733	$5,888,080	$7,368,756	$2,570,653
2020	$7,374,540	$5,257,774	$4,867,241	$2,116,766
2019	$4,524,838	$5,069,283	$2,638,347	$-544,445
2018	$4,603,678	$4,893,846	$3,244,317	$-290,168