WORKMONEY INC (EIN 850604101) - 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

2020

Legal Domicile

Principal Officer

CARRIE JOY GRIMES

Phone

2622047368

Tax Period

2023-01-01 to 2023-12-31

WORKMONEY INC, founded in 2020, is a mid-sized nonprofit that reported $41.4M in total revenue in fiscal year 2023. Revenue surged 33% from the prior year, signaling strong growth momentum. The organization ran a surplus of $11.9M, a strong 29% operating margin.

Mission

WORKMONEY IS DEDICATED TO LOWERING COSTS AND RAISING INCOMES FOR ALL AMERICANS, MAKING LIFE MORE AFFORDABLE AND FAMILIES MORE ECONOMICALLY SECURE.

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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 $41,096,499

Program Service Revenue $41,215

Investment Income $22,896

Other Revenue $202,808

TOTAL REVENUE $41,363,418

Expense Breakdown

Grants Paid $250,000

Salaries & Benefits $9,083,639

Fundraising Expenses $717,288

Program Expenses $25,918,503

Other Expenses $19,880,585

TOTAL EXPENSES $29,430,974

Year-over-Year Comparison

	2023	2022	Change
Revenue	$41,363,418	$31,104,409	+0.3%
Expenses	$29,430,974	$28,289,253	+0.0%
Net Income	$11,932,444	$2,815,156	+3.2%

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

$141,814

Total Directors

$141,814

Key Employees

$1,300,222

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARRIE JOY GRIMES	PRESIDENT & CEO	24.00	Officer Director	$116,119	$25,695	$141,814
IVY BROWN	CHIEF MARKETING OFFICER	40.00	Key Emp	$293,654	$35,618	$329,272
RACHEL LAUTER	CHIEF STRATEGY OFFICER	40.00	Key Emp	$235,303	$15,434	$250,737
WINSOR ALDEBORGH	VP DATA & ANALYTICS	40.00	Highest	$224,814	$31,367	$256,181
ANJALI SAKARIA	CHIEF ADVOCACY OFFICER	40.00	Key Emp	$220,865	$14,568	$235,433
KYLE SHEPHERD	VP DIGITAL ENGAGEMENT	40.00	Highest	$219,533	$42,007	$261,540
MICHAEL M ENRIQUEZ	VP FIELD	40.00	Highest	$219,533	$23,366	$242,899
SARAH LAYTON	VP FINANCE & OPERATIONS	40.00	Key Emp	$219,533	$23,163	$242,696
TIFFANY FERGUSON	VP PEOPLE OPERATIONS	40.00	Key Emp	$219,533	$22,551	$242,084
PETE DAVIES	TREASURER	1.00	Officer Director	$0	$0	$0
BRINA MILIKOWSKY	SECRETARY	1.00	Officer Director	$0	$0	$0
NICK HANAUER	DIRECTOR	1.00	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	$41,363,418	$29,430,974	$25,898,687	$11,932,444
2022	$31,104,409	$28,289,253	$12,929,547	$2,815,156
2021	$19,052,200	$12,815,632	$9,907,713	$6,236,568
2020	$20,738,800	$17,291,543	$3,671,775	$3,447,257

WORKMONEY INC