Trades Workforce Foundation
Nonprofit profile at a glance
- EIN
- 874537820
- IRS 990-EZ coverage
- 2023–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2022
- Location
- Virginia Beach, VA, USA
- Phone
- 7578228116
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $13,875
- Expenses
- $20,450
- Assets
- $225,406
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- Ben Clark (President)
People named in this filing
- Ben Clark (President)
- Nicole Gleaton (Secretary)
- Marie Carter (Treasurer)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Strengthening the skilled trades professional workplace
What it reported doing in 2024
The Trades Workforce Foundation TFW will support students and career and technical educational institutions, in order to strengthen the skilled trades professional workforce via scholarships
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
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 program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 88
- Transparency & Controls: 100
- Sustainability: 40
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 68.5%; rating input score 68
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -47.4%; rating input score 13; 13th percentile among comparable filings
- Total-asset coverage ratio: 11.02; rating input score 93; 93rd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: -116.3% per year; rating input score 0; 3rd percentile among comparable filings
- Revenue growth: -148.4% per year; rating input score 0; 1st percentile among comparable filings
- Asset growth: -2.9% per year; rating input score 0; 29th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 68.5% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $14K in reported program spending
- Leadership: top reported pay $0 · 5 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 3 filed schedules
- Filing history: 2 filing years from 2023 to 2024
- Contacts: How to reach this organization
- 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 — Sustainability: Operating margin scored 13/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.