Work2future Foundation

Nonprofit profile at a glance

EIN
453156415
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-N 2012
Location
Pasadena, CA, USA
Phone
4083940369
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Job Training

Official website

Reported finances

Revenue
$106,197
Expenses
$129,162
Assets
$66,735
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • KHANH RUSSO (PRESIDENT)

People named in this filing

  • KHANH RUSSO (PRESIDENT)
  • HAO SAM (TREASURER)
  • HAN LE (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

September of 2011 with the purpose of creating and advancing new opportunities to connect workforce and economic development as well as to promote small business development, growth and sustainability. The foundation is a 501(c)(3) corporation that provides private and publicly funded vocational education and training programs. The primary activity of the foundation is to support resource and fund development for workforce and economic development, small business development, and growth and sustainability initiatives as well as serve as a catalyst and incubator of new economic and workforce models.

What it reported doing in 2024

The primary activity of the foundation is to support resource and fund development for workforce and economic development, small business development, and growth and sustainability initiatives as well as serve as a catalyst and incubator of new economic and workforce models.

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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 31
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80%; rating input score 80
  • Program expense ratio: 65.8%; rating input score 66
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th 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; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -21.6%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.52; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -18.7% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -18.8% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -12.3% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 80% of revenue deployed · 65.8% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $85K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2013 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Growth: Asset growth scored 0/100.