Hired

Nonprofit profile at a glance

EIN
416078344
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6128089456
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Official website

Reported finances

Revenue
$14,431,130
Expenses
$13,378,579
Assets
$7,149,681
Liabilities
$1,855,056

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

Leadership & pay

26 people listed

Executive titles in this filing

  • JULIE BREKKE (PRESIDENT AND CEO)

Highest reported compensation

  • JULIE BREKKE (PRESIDENT AND CEO): $258,656 total reported compensation
  • ROB NOVAK (CFO): $152,578 total reported compensation

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

Overview

Mission

Hired's mission is to nurture purpose and advance economic opportunity for all through individualized employment and career services. As a workforce development agency, hired provides direct employment counseling, career training, and wraparound services to support individuals facing barriers to employment to build their skills and secure and retain careers that provide family-sustaining wages.

What it reported doing in 2024

Family stability: hired works with families who are receiving public support through the Minnesota family investment program (mfip) in hennepin and ramsey counties to increase their stability, prepare for and enter the workforce, and gain financial self-sufficiency. Our mfip teams support families to overcome barriers and empower them to gain the skills, education/training/credentials they need to secure jobs and build a pathway to financial independence and prosperity. We also offer specific programs to support families during the critical transition from public assistance to self-sufficiency, including services around the "benefits cliff and provide aftercare support to increase employment retention. We also provide family home visiting to parents with children prenatal-5.

Operating model

Revenue model
Grant-funded. 87% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 96% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 48
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.2%; rating input score 75
  • Program expense ratio: 81%; rating input score 81
  • Fundraising efficiency: $26.75 raised per $1 spent on fundraising; rating input score 64; 64th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 66th 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: 7.3%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 0.53; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 3.1%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: -0% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -0.2% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 7.9% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 75.2% of revenue deployed · 81% of spending went to programs
  • Governance: 17 of 17 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $10.8M in reported program spending
  • Leadership: top reported pay $259K · 26 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.