Edc 413Works Inc
Nonprofit profile at a glance
- EIN
- 861491313
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024
- Location
- Springfield, MA, USA
- Phone
- 4137551368
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Standard
- Sector
- Urban, Community Economic Development
Reported finances
- Revenue
- $858,049
- Expenses
- $830,113
- Assets
- $832,599
- Liabilities
- $643,439
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- PATRICIA CANAVAN (PRESIDENT)
Highest reported compensation
- ANNE KANDILIS (CLERK & EXEC. DIRECTOR): $198,043 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To carry out the charitable purposes of the economic development council of western Massachusetts, inc. By identifying and addressing community & regional problems in the areas of workforce development, health care and financial literacy, especially in minority communities and neighborhoods of poverty.
What it reported doing in 2024
Assisted the economic development council of ma with its springfield works/working cities program the goal of which is to increase the labor force participation of various cities in western Massachusetts, and create the conditions for economic mobility. The program aimed to improve workforce systems, create new frameworks to guide the workforce system, influence employer hiring and worker advancement practices, and improve the effectiveness of trainers working to enhance the skills of low-income job seekers.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 84% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 76
- Accountability: 65
- Sustainability: 42
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 88.8%; rating input score 89
- Program expense ratio: 91.8%; rating input score 92
- Fundraising efficiency: $23.7 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 66.7%; rating input score 67; 14th 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: NotApplicable
- 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: 3.3%; rating input score 45; 45th percentile among comparable filings
- Total-asset coverage ratio: 1; rating input score 43; 43rd percentile among comparable filings
- Liabilities to assets ratio: 0.77; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 3.2%; rating input score 57; 57th percentile among comparable filings
Growth
- Program expense growth: 49.1% per year; rating input score 100; 95th percentile among comparable filings
- Revenue growth: 39.9% per year; rating input score 100; 95th percentile among comparable filings
- Asset growth: 48.1% per year; rating input score 100; 96th percentile among comparable filings
Details
- Where the money goes: 88.8% of revenue deployed · 91.8% of spending went to programs
- Governance: 2 of 3 board members independent · 5 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $762K in reported program spending
- Leadership: top reported pay $198K · 3 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $213K reported
- Consistency: 26 of 26 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: 6 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.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- Moderate — Sustainability: Operating margin scored 45/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- Review — Sustainability: Officer compensation ratio scored 57/100.