The Fund for Jobs Worth Owning Inc

Overview

Mission

The organization is organized and operates exclusively as a supporting organization to and for the benefit of the ica group, inc ., a 501(c)(3) tax exempt organization located in florence, Massachusetts, by providing financing to worker-centered businesses.

What it reported doing in 2024

Provided financing to a worker-centered business.

Operating model

Revenue model
Investment-supported. 92% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
843874524
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Headquarters
Florence, MA, USA
Phone
6172328765
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 67
  • Sustainability: 33
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 71.4%; rating input score 71; 19th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -194.6%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 7.25; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 10%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 51.9% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: -67.3% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $373K in reported program spending
  • Leadership: top reported pay $128K · 7 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 6 annual filings from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

7 people listed

Highest reported compensation

  • KATRINA KAZDA (DIRECTOR): $127,767 total reported compensation
  • DAVID HAMMER (PRESIDENT): $125,117 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.