The Working World Inc

Nonprofit profile at a glance

EIN
202264584
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
6462574144
Rating
75
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Economic Development

Official website

Reported finances

Revenue
$10,092,913
Expenses
$10,405,291
Assets
$85,705,499
Liabilities
$68,965,779

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

Leadership & pay

16 people listed

Executive titles in this filing

  • EDWARD LEROY WHITFIELD (PRESIDENT, SENIOR FELLOW)
  • BRENDAN MARTIN (CO-EXECUTIVE DIRECTOR)
  • KATE KHATIB (CO-EXECUTIVE DIRECTOR)

Highest reported compensation

  • BRENDAN MARTIN (CO-EXECUTIVE DIRECTOR): $160,564 total reported compensation
  • KATE KHATIB (CO-EXECUTIVE DIRECTOR): $158,601 total reported compensation
  • KAREN HASKINS (DIRECTOR OF FINANCE): $126,058 total reported compensation

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

Overview

Mission

Seed commons is an applied research organization studying, testing, assessing and implementing best practices for community economic development through the expansion of democratic enterprise and community-controlled non-extractive capital.

What it reported doing in 2024

In 2024, seed commons made 60 below-market rate loans to 46 democratic enterprises which benefited over 3,000 worker-owners. Of those 60 loans, 51 were made to cooperative businesses in the us and 9 were made in nicaragua. The organization continues to focus its work in communities whose populations are low-income, marginalized, and at-risk. The loan selection process involves a double bottom line, wherein we assess the business plan to measure the projected yield in financial benefit to the cooperative and also measure the social impact, which can include such quantifiable parameters as income enhancement (especially when rising above the poverty line), increased employment, and more abstract variables such as capacity development and increased community stability. Our loans have substantially increased the capital of the enterprise in three categories: financial, human and social. These loans improved the financial situations of these small businesses and, in most cases, also resulted in a substantial increase in production and employment.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 66% for direct work, and 34% for grants.
  • 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. A relatively small share of voting board members are independent and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 63
  • Accountability: 67
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94%; rating input score 94
  • Program expense ratio: 89.9%; rating input score 90
  • Fundraising efficiency: $22.98 raised per $1 spent on fundraising; rating input score 60; 60th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 22nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 99.8%; rating input score 100; 36th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 44.4%; rating input score 44; 8th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.1%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 8.24; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.8; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 11.4%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 28.6% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 22.2% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 31.7% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 94% of revenue deployed · 89.9% of spending went to programs
  • Governance: 4 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $9.4M in reported program spending
  • Leadership: top reported pay $161K · 16 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $183K reported
  • Consistency: 39 of 40 current checks pass · 1 finding to review
  • Schedules: 11 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 32 filed money-flow records
  • Related organizations: 21 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.
  • 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 — Accountability: Independent voting board scored 44/100.
  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Sustainability: Operating margin scored 21/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.