Coworks Wv Inc
Nonprofit profile at a glance
- EIN
- 832070584
- IRS 990-EZ coverage
- 2019–2020
- Forms available
- Form 990-EZ 2020
- Location
- Huntington, WV, USA
- Phone
- 3045663030
- Rating
- 65
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Economic Development
Reported finances
- Revenue
- $82,454
- Expenses
- $84,624
- Assets
- $3,268
Source: IRS Form 990-EZ. Selected filing: tax year 2020. Amounts in USD.
Leadership & pay
2 people listed
Executive titles in this filing
- JULIE HEWETT (PRESIDENT)
People named in this filing
- JULIE HEWETT (PRESIDENT)
- BRENT WALLS (SECRETARY, T)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Coworks wv inc's purpose is to provide a network of free and low cost, mostly volunteer-led, community based programs on business start-ups, business entrepreneurship, technology education and integration, coding, business incubation and to educate by mentoring, instructing, coordinating, providing venues, locations, computers, equipment, internet access, computer coding, e-learning modules, and recommended practices, so that its students, members, and subscribers learn, and explore business and technology in an informal, creative, and social environment. There is a focus on instruction, peer learning, youth mentoring and self-led learning. We aim to help young people, non-profits, the disadvantaged, low-income, the under-employed and the unemployed realize that they can build a positive future through business entrepreneurship, technology and their community, and to provide other and further services as are desirable to promote economic and social welfare of citizens.
What it reported doing in 2020
Providing low cost coworking space to members.
Operating model
- Revenue model
- Earned-program. 99% of the money available for current operations came from fees and other program revenue.
- 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.
The verdict
SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 62
- Transparency & Controls: 82
- Sustainability: 28
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 62.6%; rating input score 63
- Program expense ratio: 61%; rating input score 61
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -2.6%; rating input score 42; 42nd percentile among comparable filings
- Total-asset coverage ratio: 0.04; rating input score 5; 5th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: -78.7% per year; rating input score 0; 6th percentile among comparable filings
- Revenue growth: -62.4% per year; rating input score 0; 6th percentile among comparable filings
- Asset growth: -49.9% per year; rating input score 0; 3rd percentile among comparable filings
Details
- Where the money goes: 62.6% of revenue deployed · 61% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $52K in reported program spending
- Leadership: top reported pay $0 · 2 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 2 filed schedules
- Filing history: 2 filing years from 2019 to 2020
- Contacts: How to reach this organization
- 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.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 5/100.
- Moderate — Sustainability: Operating margin scored 42/100.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.