WorkMoney

Legal name: Workmoney Inc

Overview

Mission

WorkMoney is a U.S. nonprofit working with people to save more and live a better life by helping people earn more and pay less through money-saving tools and local free and low-cost resources. We are a nonprofit working with people to save more and live a better life. Now over 9+ million members strong (and growing), we’re a nonprofit that works everyday for a clear mission: to help make sure everyone who works hard gets ahead. A woman with blond hair and a black tshirt smiling while sitting outside. She is holding a baby and another child is hugging her from behind while smiling. What we do.

What it reported doing in 2024

Outreach: workmoney communicated with millions of americans, delivering valuable real-time information to help them better weather financial challenges. Workmoney provided information across a range of communication channels to help americans navigate their financial lives including information on tax credits, goverment programs, and other.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 89% 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
850604101
IRS 990 coverage
2020–2024
Official website data refreshed
Jul 2026
Forms available
Form 990 2024
Headquarters
Milwaukee, WI, USA
Phone
1-833-WRK-MNEY (1-833-975-6639)
Rating
88
Verdict
STRONG
Rating confidence
Standard

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.3%; rating input score 90
  • Program expense ratio: 95.2%; rating input score 95
  • Fundraising efficiency: $144.22 raised per $1 spent on fundraising; rating input score 87; 87th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.9%; rating input score 100; 45th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 80%; rating input score 80; 26th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.2%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.34; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: 2.9%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 39.8% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 36.6% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 39.7% per year; rating input score 100; 98th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 90.3% of revenue deployed · 95.2% of spending went to programs
  • Governance: 4 of 5 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $93.1M in reported program spending
  • Leadership: top reported pay $373K · 16 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $58.9M reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 4 annual filings from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 18 filed money-flow records
  • Related organizations: 7 filed related-organization links
  • 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

16 people listed

Highest reported compensation

  • IVY BROWN (CHIEF MARKETING OFFICER (THRU 10/24)): $372,596 total reported compensation
  • ANTHONY LOWER-BASC (SR SOFTWARE ENGINEER (THRU 11/24)): $258,761 total reported compensation
  • JANETTE FONG (CHIEF DIGITAL OFFICER): $245,051 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.