OPEN WORKS INC

EIN: 475535634 501(c)(3) Arts, Culture & Humanities

BALTIMORE, MD

Total Revenue
$2,505,105
Total Expenses
$2,230,400
Total Assets
$1,041,131
Net Assets
$857,634
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2015
Legal Domicile
MD
Principal Officer
WILLIAM HOLMAN
Phone
4108620424
Tax Period
2023-01-01 to 2023-12-31

OPEN WORKS INC, founded in 2015, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.5M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $2.2M left a modest 11% surplus.

Mission

TO REVITALIZE ECONOMICALLY DEPRESSED COMMUNITIES IN BALTIMORE THROUGH ECONOMIC DEVELOPMENT, WORKFORCE DEVELOPMENT, SKILLS DEVELOPMENT IN PRODUCT DESIGN AND FABRICATION, ENTREPRENEURSHIP TRAINING, AND INCUBATION OF SMALL BUSINESS START-UPS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,620,775
Program Service Revenue $858,400
Investment Income $0
Other Revenue $25,930
TOTAL REVENUE $2,505,105

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,227,572
Fundraising Expenses $132,913
Program Expenses $1,845,397
Other Expenses $1,002,828
TOTAL EXPENSES $2,230,400

Year-over-Year Comparison

2023 2022 Change
Revenue $2,505,105 $2,123,062 +0.2%
Expenses $2,230,400 $1,712,389 +0.3%
Net Income $274,705 $410,673 -0.3%
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

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Governance

Voting Members
12
Independent Members
12
Employees
35
Volunteers
12

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
$100,000
Total Directors
13
$100,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEPHANIE CHIN DIRECTOR 1.00
Officer Director
$0 $0 $0
PAMELA W GRAY TREASURER 1.00
Officer Director
$0 $0 $0
NEIL DIDRIKSEN CHAIR EMERIT 1.00
Officer Director
$0 $0 $0
JEFFREY FUCHS DIRECTOR 1.00
Director
$0 $0 $0
LINDA GILMORE CHAIR 1.00
Officer Director
$0 $0 $0
DANIELLE LAURENCEAU-GOODEN DIRECTOR 1.00
Director
$0 $0 $0
LEON PINKETT III DIRECTOR 1.00
Director
$0 $0 $0
CHARLOTTE PHILLIPS DIRECTOR 1.00
Director
$0 $0 $0
DR RONALD WILLIAMS DIRECTOR 1.00
Director
$0 $0 $0
TERRELL WILLIAMS DIRECTOR 1.00
Director
$0 $0 $0
MATTHEW YOUSSEF SECRETARY 1.00
Officer Director
$0 $0 $0
TANYA TERRELL DIRECTOR 1.00
Director
$0 $0 $0
WILLIAM HOLMAN EXECUTIVE DI 30.00
Officer Director
$100,000 $0 $100,000
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 $2,505,105 $2,230,400 $1,041,131 $274,705
2022 $2,123,062 $1,712,389 $728,331 $410,673
2021 $1,513,628 $1,467,153 $377,609 $46,475
2020 $1,530,258 $1,434,349 $245,372 $95,909
2019 $1,446,027 $1,674,073 $251,021 $-228,046
2018 $1,446,235 $1,368,851 $380,069 $77,384
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