Washington Institute for Financial Security

Nonprofit profile at a glance

EIN
800919097
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-N 2013
Location
Louisville, KY, USA
Phone
3607979095
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Research Institutes and Public Policy Analysis

Reported finances

Revenue
$925,286
Expenses
$657,970
Assets
$512,451
Liabilities
$118,765

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

Leadership & pay

9 people listed

Executive titles in this filing

  • KEVIN LEWIS (PRESIDENT)
  • MELISSA SOMMER (VICE-PRESIDENT)
  • JOMARIS DEJESUS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JOMARIS DEJESUS (EXECUTIVE DIRECTOR): $116,364 total reported compensation
  • RACHEL BROOKS (FORMER MANAGING DIRECTOR): $102,261 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 prosperity agenda (tpa), designs pathways to economic and racial justice rooted in the wisdom, experience, and expertise of families enduring economic inequity. They work with families and staff to imagine, test, and realize programs where people thrive.

What it reported doing in 2024

Family-centered coaching programtpa is a design firm that helps nonprofits, businesses, financial institutions, and government agencies advance economic and racial justice. They help organizations stop managing poverty and start increasing prosperity by putting families first. They offer community-centered design and evaluation services to make work more meaningly, sustainable, scalable, and designed for systems change. They also provide products and services for organizations to adopt coaching strategies to better engage with and help families that are experiencing poverty. These included family-centered coaching, money mindset cards, and money powerup packs.

Operating model

Revenue model
Donor-supported. 63% of the money available for current operations came from contributions and gifts.
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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 65
  • Accountability: 95
  • Sustainability: 54
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 42.3%; rating input score 42
  • Program expense ratio: 59.4%; rating input score 59
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th 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: 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 28.9%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 0.78; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 33.2%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -2% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -5.9% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -2% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 42.3% of revenue deployed · 59.4% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $391K in reported program spending
  • Leadership: top reported pay $116K · 9 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Financial Efficiency: Mission deployment rate scored 42/100.
  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.