WORKCRED INC (EIN 471467778) - 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

2014

Legal Domicile

Principal Officer

MARGARET JENSON

Phone

2022938020

Tax Period

2024-01-01 to 2024-12-31

WORKCRED INC, founded in 2014, is a community nonprofit in the Public & Societal Benefit sector that reported $1.1M in total revenue in fiscal year 2024. Expenses of $2.1M exceeded revenue, resulting in a 100% operating deficit.

Mission

WORKCRED'S MISSION IS TO STRENGTHEN WORKFORCE QUALITY BY IMPROVING THE CREDENTIALING SYSTEM, ENSURING ITS ONGOING RELEVANCE, AND PREPARING EMPLOYERS, WORKERS, EDUCATORS, AND GOVERNMENTS TO USE IT EFFECTIVELY.

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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 $1,061,627

Investment Income $0

Other Revenue $0

TOTAL REVENUE $1,061,627

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,286,806

Fundraising Expenses $0

Program Expenses $1,633,574

Other Expenses $838,401

TOTAL EXPENSES $2,125,207

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,061,627	$1,004,313	+0.1%
Expenses	$2,125,207	$1,920,993	+0.1%
Net Income	$-1,063,580	$-916,680	+0.2%

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

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

$6,082,031

Total Directors

$6,470,487

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREW UPDEGROVE	DIRECTOR	2.00	Director	$0	$0	$0
BETH OFFENHARTZ CARLSON	DIRECTOR	2.00	Director	$0	$0	$0
CYNTHIA DOMINICK WOODLEY	DIRECTOR	2.00	Director	$0	$0	$0
ELIZABETH MENDEZ	DIRECTOR (OUTGOING)	2.00	Director	$0	$0	$0
FRANCES SCHROTTER	DIRECTOR/SVP, COO	2.00	Director	$0	$140,830	$777,258
GEORGE WESTERMAN	DIRECTOR	2.00	Director	$0	$0	$0
JOHN KESSLER	DIRECTOR	2.00	Director	$0	$0	$0
LAWRENCE LYNCH	DIRECTOR	2.00	Director	$0	$0	$0
MARGARET JENSEN	DIRECTOR/SVP, CFO/TREASURER	2.00	Officer Director	$0	$109,173	$666,527
SARAH DEMARK	DIRECTOR	2.00	Director	$0	$0	$0
SARANJIT BHATIA	CHAIR & CEO/PRESIDENT	2.00	Officer Director	$0	$90,655	$5,026,702
GAIL MATTHEWS	DIR/ SEC ASSOCIATE GENERAL	2.00	Officer	$0	$58,082	$388,802
JANET FELTS FORTE	SENIOR MANAGER OPERATIONS	40.00	Highest	$125,601	$43,502	$169,103
KAREN ELZEY	ASSOCIATE EXECUTIVE DIRECT	40.00	Highest	$238,301	$61,731	$300,032
LAURA CARDENAS-NAVIA	DIRECTOR RESEARCH	40.00	Highest	$181,841	$82,218	$264,059
ROY SWIFT	EXECUTIVE DIRECTOR	40.00	Highest	$336,243	$54,805	$391,048

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	$1,061,627	$2,125,207	$264,430	$-1,063,580
2023	$1,004,313	$1,920,993	$129,495	$-916,680
2022	$821,058	$1,755,682	$99,627	$-934,624
2021	$750,001	$1,607,945	$173,191	$-857,944
2020	$568,216	$1,540,635	$229,792	$-972,419
2019	$403,821	$1,074,124	$284,126	$-670,303
2018	$357,038	$1,387,475	$755,960	$-1,030,437

WORKCRED INC