The Work Lab Inc

Nonprofit profile at a glance

EIN
933515839
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Omaha, NE, USA
Phone
4022580469
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Employment N.E.C.

Official website

Reported finances

Revenue
$733,256
Expenses
$763,632
Assets
$173,615
Liabilities
$13,727

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

Leadership & pay

11 people listed

Executive titles in this filing

  • CHAD MARES (PRESIDENT)

Highest reported compensation

  • CHAD MARES (PRESIDENT): $105,104 total reported compensation

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

Overview

Mission

The work lab's commitment to fostering strong relationships among employers, employees, and communities aligns with its exempt purpose. By empowering individuals through coaching and resource navigation, we serve as a crucial link in the socio-economic support system, extending our impact beyond the workplace to the broader community. Partnerships with employers allow us to support not only employees but also their extended families, contributing to the overall well-being of the community. Additionally, our work enables us to identify and address gaps in social and economic resources, proposing solutions in collaboration with employer partners and stakeholders

What it reported doing in 2024

Increase client utilization of services in 2024 by 35%, on pace to serve more than 1,000 individuals. Expanding and extending contracts with 3 different employer partners. As well as signing 2 new employer partners to agreements that will begin in 2025.

Operating model

Revenue model
Earned-program. 91% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 24
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95%; rating input score 95
  • Program expense ratio: 91.2%; rating input score 91
  • Fundraising efficiency: $2.33 raised per $1 spent on fundraising; rating input score 7; 7th percentile among comparable filings

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: 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.1%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 13.8%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 74.3% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 17.7% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: -48.4% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 95% of revenue deployed · 91.2% of spending went to programs
  • Governance: 11 of 11 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $697K in reported program spending
  • Leadership: top reported pay $105K · 11 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Fundraising efficiency scored 7/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.