Careerworks Inc

Nonprofit profile at a glance

EIN
822896556
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-N 2017
Location
Seattle, WA, USA
Phone
2063443476
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Adult, Continuing Education

Reported finances

Revenue
$2,700,749
Expenses
$1,497,266
Assets
$1,343,556
Liabilities
$3,811

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • DUNCAN TAYLOR (PRESIDENT)

Highest reported compensation

  • RANKO FUKUDA (DIRECTOR OF PROGRAMS): $181,022 total reported compensation
  • LATOYA EDMONDS (DIRECTOR OF DEVELOPMENT): $147,856 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Careerworks, inc. Connects young adults from under-resourced communities to lasting, stable careers through free training, and builds supportive partnerships advancing equitable economic opportunity. Careerworks creates an environment where everyonecan achieve meaningful careers, economic stability, and all communities thrive.

What it reported doing in 2024

Careerworks offers two free industry-specific programs so participants have the skills to succeed and direct access to employers who are hiring. Careerworks partners with experienced workforce development and nonprofit organizations around the country to operate its programs. Careerworks provides curricula, learning management software, support, and a launch grant. Careerworks leverages their community roots to recruit and support participants and connect them directly to employers. Careerworks partners with employers to ensure program participation is always free, and to hire program graduates (75% placement rate).careerworks' model is effective, efficient, and can scale rapidly: careerworks partners with local organizations (training partners) in each market to operate its programs and support recruiting, coaching, local fundraising, and employer connections in the communities in which they are based, all with financial support from careerworks.careerworks currently offers two industry-specific career-readiness programs (banking and non-clinical healthcare), and one industry agnostic job readiness program. These programs support young adults from historically under resourced communities to gain skills, resources, and access to entry-level jobs with career-growth potential they need to achieve economic stability for themselves and their families. These programs are always free for all participants. Careerworks provides its proprietary industry-specific curricula, online learning platform, instruction staff training, and ongoing support to training partners who operate its programs, at no cost. With the training partners, careerworks engages employers in every step of the process, from building curricula to mentorship to skills development to a personalized job fair following graduation from careerworks medical and bankworks. Careerworks knows these personal introductions and the demonstrated success of the programs mean employers are confident hiring graduates. Careerworks works directly with employers, who offer both philanthropic support and commitments to interview and hire program graduates.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 54% for direct work, and 46% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 79
  • Accountability: 74
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 36.8%; rating input score 37
  • Program expense ratio: 66.2%; rating input score 66
  • Fundraising efficiency: $27.74 raised per $1 spent on fundraising; rating input score 67; 67th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 44.6%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 0.9; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 22%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 19% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 18.8% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 3.7% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 36.8% of revenue deployed · 66.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $991K in reported program spending
  • Leadership: top reported pay $181K · 19 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 13 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 37/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.