Futureworks Inc D/b/a Masshire Springfield Career C

Nonprofit profile at a glance

EIN
043580614
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Springfield, MA, USA
Phone
4138582806
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Official website

Reported finances

Revenue
$3,005,245
Expenses
$3,027,659
Assets
$2,090,540
Liabilities
$1,084,222

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

Leadership & pay

12 people listed

Executive titles in this filing

  • ALLISON EBNER (PRESIDENT)

Highest reported compensation

  • KEVIN LYNN (EXECUTIVE DI): $145,489 total reported compensation
  • KATHLEEN KREMINEC (DIRECTOR OF): $125,587 total reported compensation

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

Overview

Mission

Masshire springfield career center creates and sustains powerful connections between businesses and job seekers through a statewide network of employment professionals.

What it reported doing in 2024

Masshire springfield career center provides workforce development services to businesses (including labor market information, job postings, on-site direct recruitment, job expos and computer skills classes) and jobseekers (including career counseling, resume critique, computer classes, access to local job postings, workshops on related topics and a resource room equipped with computers, copier, fax machines, telephones, internet access, and staff assistance). In this fiscal year, masshire springfield career center promoted career opportunities by providing educational programs, career counseling, and recruiting services to 11,317 jobseekers and 1,237 businesses.

Operating model

Revenue model
Grant-funded. 97% of the money available for current operations came from government grants.
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

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

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.6%; rating input score 87
  • Program expense ratio: 85.9%; rating input score 86
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -0.7%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.69; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 9%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 6.8% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 86.6% of revenue deployed · 85.9% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.6M in reported program spending
  • Leadership: top reported pay $145K · 12 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.